Africa Finance Corporation (AFC) and Eaglestone, a financial services platform focused on sub-Saharan Africa, have outlined their role as co-financial advisers on the recent Lobito Atlantic Railway project in Angola
It follows the signing of a US$753mn funding package, consisting of US$553mn from the US International Development Finance Corporation (DFC) and US$200mn from the Development Bank of Southern Africa (DBSA).
Lobito Atlantic Railway S.A. (LAR) is the borrower and concessionaire in the 1,300 km brownfield railway corridor project.
“The signing of the financing agreements for the Lobito Atlantic Railway demonstrates the strength of AFC’s financial advisory expertise in structuring and advancing complex, cross-border infrastructure transactions of strategic significance,” said Samaila Zubairu, AFC’s president and CEO.
“This initiative aligns with AFC’s broader development efforts to deliver a transformational transport corridor linking Angola, the DRC, and the wider southern Africa region, reinforcing the critical role of integrated rail and port infrastructure in unlocking regional trade, industrial growth and supply-chain resilience.”
The Lobito Corridor is also of special importance for Angola, one of AFC’s member countries and shareholders, he added, “reaffirming our long-standing commitment to supporting the country’s infrastructure development and economic priorities.”
This infrastructure scheme is backed by a variety of international project sponsors including Mota-Engil, the Portuguese-based engineering and construction group which has a strong presence across Africa.
Other sponsors include commodities trader, Trafigura, and Vecturis, an international rail operator with experience in freight rail concessions.
The flagship regional infrastructure project will rehabilitate, upgrade and operate the 1,300-km brownfield rail line connecting the Port of Lobito on Angola’s Atlantic coast to the Democratic Republic of Congo (DRC) border.
The financing package is expected to increase Lobito’s transportation capacity ten-fold to approximately 4.6 million metric tonnes per annum and to reduce the cost of transporting critical minerals by an estimated 30%.
“We are delighted to have advised LAR in this landmark transport infrastructure transaction that is a key milestone to unlock regional trade and boost economic activity along the Lobito Corridor,” said Nuno Gil, founding partner of Eaglestone.
“The Eaglestone team can be proud in once again delivering world-class services within the project finance advisory industry in Southern Africa.”
Manuel Mota, Deputy CEO of Mota-Engil, said his company’s participation underscores its commitment to deliver an infrastructure that supports Angola’s national priorities, economic diversification, and regional connectivity.
“This strategic agreement will expand transport capacity, reduce transit costs, and open access to the mineral-rich regions of the Democratic Republic of Congo and Zambia.”
Richard Holtum, CEO of Trafigura, said the railway “will drive economic development and support the movement of critical metals to global markets.”
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AFC, Eaglestone share the Lobito limelight
AFC signs landmark financing to transform the Lobito Atlantic Railway corridor and unlock regional trade. (Image source: AFC)
