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The Africa Finance Corporation (AFC) has signed concession agreements with the governments of Angola and Zambia to propel the Zambia Lobito Rail Project forward.
The project is anticipated to bring approximately US$3 billion in economic benefits to both nations, cut annual emissions by around 300,000 tonnes and create over 1,250 jobs during the construction and operational phases.
In a statement issued on Wednesday in Lusaka, Zambia’s Minister of Transport, Frank Tayali, hailed the Zambia Lobito Rail Project as a significant milestone in the country’s infrastructure development.
He noted that it would not only improve Zambia’s economic competitiveness but also uplift the livelihoods of its people.
“The Zambia Lobito Rail Project is a key component of our vision to modernize infrastructure, boost our economy, and enhance the lives of our citizens. We are excited to partner with the Africa Finance Corporation in making this project a reality,” Tayali said.
The Zambia Lobito Rail Project aims to connect Zambia with Angola’s Lobito Corridor, providing a crucial trade route linking Zambia’s mineral-rich regions with global markets through Angola’s ports.
This strategic infrastructure is expected to unlock new opportunities for industrialization, trade and socio-economic development in the region.
Angola’s Minister of Transport, Ricardo Viegas d’Abreu, expressed similar enthusiasm about the partnership.
He underscored Angola’s role as a regional logistics hub and emphasized how the project would strengthen trade ties not only with Zambia but with the broader international market.
“We are pleased to partner with the Africa Finance Corporation on this transformative project, which will deepen our nation’s role as a regional logistics hub, boosting trade not only with Zambia but with the rest of the world,” d’Abreu stated.
President and Chief Executive Officer of AFC, Samaila Zubairu, pointed out the immense potential the Zambia Lobito Rail Project holds for the region.
He called the project a “game-changer” that would revolutionise regional trade and accelerate economic growth.
“The Zambia Lobito Rail Project represents a game-changing development for the region, unlocking tremendous potential for trade, industrialization, and socio-economic growth. We are proud to play a leading role in this transformative project,” Zubairu remarked.
In addition to the economic benefits, the project is also expected to have a positive environmental impact, with a reduction in carbon emissions by approximately 300,000 tonnes annually.
Read More: About $1 billion mobilised for Lobito Corridor project linking Zambia, Angola, DR Congo
This aligned with regional efforts to promote sustainable infrastructure development.
A statement emphasized AFC’s pivotal role as the lead developer for the Zambia Lobito Rail Project, highlighting the corporation’s expertise in managing infrastructure projects across Africa.
“The railway is expected to create an economic benefit of approximately US$3 billion across both countries, reduce emissions by approximately 300,000 tons per year, and add over 1,250 jobs across construction and operations,” the group said.
As the project moves forward, it is expected to bring lasting benefits to both Zambia and Angola, enhancing regional connectivity, improving trade routes, and contributing to sustainable development in Southern Africa.
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