S&P Lowers Transnet’s Credit Rating to B+ as Financial Struggles Deepen Despite R51 Billion Government Guarantee Transnet has suffered a major financial setback, with S&P Global Ratings downgrading its long-term issuer credit rating and senior unsecured debt from ‘BB-’ to ‘B+’. The move underscores the state-owned logistics company’s fragile financial position, exacerbated by years of bailouts and growing reliance on government guarantees. Over the past five years, Transnet has received
Category: Southern Africa
TAAG Launches New Luanda–Nairobi Route to Strengthen Regional Connectivity
TAAG Angola Airlines has announced the launch of a new direct route between Luanda and Nairobi, starting 1 September. The airline will operate three weekly flights, enhancing connectivity between Southern and East Africa. In a statement released Tuesday, TAAG emphasized Nairobi’s role as a major regional hub, serving as a key transit point between Africa, Asia, and Europe. The airline also highlighted Kenya’s status as one of the most dynamic
Samsung Heavy Secures $637M Deal for New LNG Facility in Mozambique
South Korea’s Samsung Heavy Industries, the world’s fifth-largest shipbuilder according to Lloyd’s List, has secured a $637 million contract to construct a cutting-edge offshore liquefied natural gas (LNG) facility for a European client operating in Mozambique. The agreement, which marks another significant milestone in Africa’s growing LNG sector, involves the construction of a floating LNG (FLNG) platform to tap into Mozambique’s vast offshore gas reserves. The deal follows Samsung’s earlier
Strategic Rail Investments Position Africa as Global Mining Powerhouse
Africa’s railway sector is undergoing a remarkable transformation, driven by ambitious infrastructure projects that aim to unlock the continent’s vast mineral wealth and strengthen global trade connections. At the heart of this renaissance is the development of strategic transport corridors that are rapidly reshaping regional logistics. In June 2025, the Africa Finance Corporation (AFC) secured a €250 million, 10-year loan from Italian development finance institution Cassa Depositi e Prestiti. The
Proflight Zambia Champions Unified Aviation for Africa’s Growth
Proflight Zambia is spearheading efforts to foster a unified and connected African aviation industry, advocating for critical investments in infrastructure, harmonized regulations, and aligned policies to unlock the continent’s vast air travel potential. During the 2025 Zambia Travel Expo (ZATEX) and the ICAO African & Indian Ocean (AFI) Aviation Week held in Victoria Falls, Proflight executives underscored the urgent need for collaboration to enhance intra-African connectivity. Keira Langford Johnson, Proflight’s
Mozambique Approves Concession for Strategic Chongoene Port Terminal
Mozambique’s government has approved a decree authorizing the Ministers of Transport and Logistics, and Agriculture, Environment and Fisheries to sign the concession contract for the construction of the Chongoene Port Terminal in Gaza province, located in the southern region of the country. The decision was announced in the final communiqué of the cabinet meeting held on Tuesday, confirming the government’s intention to move forward with the project through a public-private
DRC Highlights Strategic Role of Lobito Corridor at US-Africa Business Summit
At the 17th US-Africa Business Summit, which opened on Monday, June 23, 2025, in Luanda, the Democratic Republic of Congo (DRC) reaffirmed the strategic importance of the Lobito Corridor in its economic transformation ambitions. Representing President Félix Tshisekedi, Deputy Prime Minister in charge of Transport, Jean-Pierre Bemba, emphasized that this rail corridor—linking southern DRC to the Atlantic Ocean via Angola’s port of Lobito—provides “a direct and vital access” to global
TAAG Angola Partners with Boeing to Modernize Aviation and Boost Global Connectivity
State-owned carrier TAAG Angola Airlines has entered into a strategic partnership with U.S. aerospace giant Boeing to modernize Angola’s aviation sector and enhance connectivity to global markets. Through this collaboration, TAAG Angola will leverage Boeing’s technical expertise to upgrade its fleet, enhance operational efficiency, and accelerate its digital transformation. The partnership also aims to support the airline’s expansion across domestic, regional, and international routes. A key component of the agreement
Angola and France Deepen Strategic Transport Cooperation in Paris
Angola’s Minister of Transport, Ricardo Viegas D’Abreu, and France’s Minister Delegate for Transport, Philippe Tabarot, convened in Paris to enhance bilateral collaboration in the fields of transportation and infrastructure. The high-level meeting focused on several key areas of strategic importance: Civil Aviation: Discussions highlighted Air France’s operations in Angola and the expansion of TAAG Angola Airlines’ fleet with Airbus aircraft, aiming to boost connectivity and modernize the national carrier. Urban
Lobito Corridor Gains Global Momentum as Zambia Deepens EU-Italy Partnerships
Zambia has strengthened its global development partnerships following a high-level summit on the Mattei Plan and the European Union’s Global Gateway, held in Rome. The meeting, co-hosted by Italian Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen, reaffirmed Italy and the EU’s support for Zambia through the transformative Lobito Corridor Project. Representing Zambia at the summit was Minister of Finance and National Planning, Hon. Dr. Situmbeko