In February of this year, the U.S. International Development Finance Corporation (DFC) announced groundbreaking financing to bolster the Lobito Corridor—a transformative 1,300-km railway linking Angola’s Port of Lobito with southern DRC and northwestern Zambia. This initiative, supported by a consortium including the European Commission, African Development Bank, and Africa Finance Corporation, has already secured nearly $1 billion, marking the largest joint investment by the U.S. and EU in Africa in
Category: Southeastern Africa
Benguela Business Leaders Urged to Grasp Opportunities in Lobito Corridor and Refinery
Governor Luís Nunes of Benguela province rallied local entrepreneurs to seize the potential presented by the Corridor and Refinery in Lobito. Speaking at the inauguration of Aliança Empresarial’s new headquarters, Nunes emphasized the critical role of unity among business leaders. With Aliança Empresarial expanding its membership by four, including notable organizations like the Angola Industrial Association (AIA) and the League of Businessmen and Executives of Angola – PRESTIGIO, the province
Coal port development in Mozambique back on track
Thai Moçambique Logistica (TML) is reviving its initiative to construct a coal port in Macuse, Mozambique, near the Zambezi River mouth. Despite the waning interest in Mozambique’s coal industry, TML is committed to proceeding with its long-term investment, having secured US$500 million for the project. Construction is slated to begin in mid-2024 on a 5.3 square kilometer parcel of land designated for the port, as reported by Bulk Materials International.