LAGOS, July 3 – Africa Finance Corporation (AFC) has reached financial close on the $753 million Lobito Corridor Railway Project in Angola, marking a significant milestone for one of Africa’s largest cross-border transport infrastructure developments.
The project will rehabilitate, modernise and support the long-term operation of the 1,300-kilometre Lobito rail corridor, linking the Port of Lobito in Angola to the border with the Democratic Republic of Congo (DRC). The railway is expected to strengthen regional trade, improve logistics and enhance access to international markets for mineral-rich Central Africa.
AFC served as Co-Financial Adviser on the transaction alongside Eaglestone, leading the structuring and mobilisation of financing for Lobito Atlantic Railway S.A. (LAR), the concessionaire responsible for the project. LAR is a joint venture between Mota-Engil and Trafigura.
The financing package comprises $553 million from the U.S. International Development Finance Corporation (DFC) and $200 million from the Development Bank of Southern Africa (DBSA), bringing the total transaction value to $753 million.
Commenting on the financial close, AFC President and Chief Executive Officer Samaila Zubairu said the transaction demonstrates the institution’s ability to deliver transformational infrastructure projects across the continent.
“The financial close of the Lobito Corridor Railway Project underscores AFC’s leadership in delivering complex transformational infrastructure that advances Africa’s industrialisation and regional integration,” Zubairu said. “As one of the continent’s most strategic transport corridors, the project will strengthen regional connectivity, facilitate trade, and unlock new opportunities for economic growth across Angola and the wider region.”
Nuno Gil, Founding Partner of Eaglestone, described the agreement as a landmark achievement for infrastructure financing in Africa.
“Reaching financial close on the Lobito Corridor Railway Project is the culmination of years of work and a defining moment for infrastructure finance in Sub-Saharan Africa,” he said. “This transaction demonstrates that complex, multi-lender, cross-border project financings can be structured and successfully closed on the continent, and we are proud to have been at the centre of it alongside AFC.”
He added that the successful close reflected the commitment of Lobito Atlantic Railway, Mota-Engil and Trafigura, thanking the partners for their collaboration in delivering the transaction.
The Lobito Corridor has emerged as one of Africa’s most strategically important transport routes, providing an alternative export corridor for critical minerals produced in Angola and the Democratic Republic of Congo while strengthening regional supply chains and trade integration.
The project further reinforces AFC’s role in mobilising long-term capital for strategic infrastructure across Africa, supporting industrial development, regional connectivity and economic transformation.
