Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has achieved financial close on the $753 million Lobito Corridor Railway Project in Angola, marking one of the largest cross-border transport infrastructure transactions in Africa in recent years.

The milestone strengthens the continent’s push toward regional integration while positioning Angola as a critical logistics gateway for mineral exports and intra-African trade.

U.S. and Southern African institutions-backed project

The financing package includes $553 million from the U.S. International Development Finance Corporation (DFC) and an additional $200 million from the Development Bank of Southern Africa (DBSA).

Funding will support the rehabilitation, upgrade and long-term operation of the 1,300-kilometre rail corridor connecting the Port of Lobito on Angola’s Atlantic coast to the border of the Democratic Republic of Congo, creating a strategic export route for copper, cobalt and other critical minerals.

Corridor expected to transform regional trade

AFC served as co-financial adviser alongside Eaglestone, helping structure and mobilize financing for concessionaire Lobito Atlantic Railway S.A., the joint venture involving Mota-Engil and Trafigura.

According to AFC President and Chief Executive Officer Samaila Zubairu, the project demonstrates the corporation’s ability to deliver complex infrastructure capable of accelerating industrialisation and regional connectivity.

He noted that the Lobito Corridor will improve trade flows, reduce transport costs and unlock new economic opportunities across Angola and neighbouring markets.

Defining moment for African infrastructure finance

Nuno Gil, Founding Partner of Eaglestone, described the financial close as a defining moment for infrastructure finance in Sub-Saharan Africa, proving that large-scale, multi-lender and cross-border transactions can be successfully structured and executed on the continent.

The corridor is expected to become one of Africa’s most strategic transport assets as global demand rises for critical minerals used in electric vehicles and renewable energy technologies.

Established in 2007, AFC has invested more than $18.5 billion across Africa’s power, transport, telecommunications, natural resources and industrial sectors, with membership spanning 48 African countries.