Africa Finance Corporation (AFC) has confirmed the successful signing of key financing agreements for the Lobito Atlantic Railway Project, a transformative transport infrastructure initiative in Angola. Acting as co-financial advisor alongside Eaglestone, AFC supported Lobito Atlantic Railway (LAR)—the borrower and concessionaire of the 1,300-kilometre brownfield railway corridor—in structuring this complex transaction.
The Lobito Atlantic Railway Project is backed by a consortium of strategic partners: Mota-Engil, a leading multinational engineering and construction group with extensive operations across Africa; Trafigura, a global commodities trading and logistics powerhouse; and Vecturis, an international rail operator with deep expertise in railway management.
The financing package, valued at $753 million, represents a significant milestone for regional infrastructure development. It comprises $553 million from the U.S. International Development Finance Corporation (DFC) and $200 million from the Development Bank of Southern Africa (DBSA). These funds will enable the rehabilitation, modernization, and operation of the 1,300-kilometre rail line connecting the Port of Lobito on Angola’s Atlantic coast to the Democratic Republic of Congo (DRC) border. This strategic corridor will enhance regional integration, reduce transport costs, and improve access to global markets—particularly for mineral-rich regions in the DRC and Zambia.
Samaila Zubairu, President and CEO of AFC, commented:
The signing of these financing agreements underscores AFC’s expertise in structuring and advancing complex, cross-border infrastructure transactions of strategic importance. This project aligns with our mission to deliver transformational transport corridors that link Angola, the DRC, and the wider Southern Africa region. Integrated rail and port infrastructure is critical to unlocking regional trade, driving industrial growth, and strengthening supply-chain resilience.
Nuno Gil, Founding Partner of Eaglestone, added:
We are proud to have advised LAR on this landmark transaction, which will catalyze regional trade and economic activity along the Lobito Corridor. This achievement reflects Eaglestone’s commitment to delivering world-class project finance advisory services in Southern Africa.
Manuel Mota, Deputy CEO of Mota-Engil, stated:
This agreement with DFC, DBSA, and the Government of Angola marks the culmination of years of collaboration with our partner Trafigura to advance the Lobito Corridor. The project will expand transport capacity, reduce transit costs, and unlock access to mineral-rich regions in the DRC and Zambia. Mota-Engil’s involvement demonstrates our dedication to supporting Angola’s national priorities, economic diversification, and regional connectivity. The financing reinforces confidence in Angola’s ability to attract investment for world-class infrastructure initiatives. We thank AFC and Eaglestone for their expert advisory support in structuring this deal.
Richard Holtum, CEO of Trafigura, concluded:
We welcome the financing secured from DFC and DBSA, which will accelerate the rehabilitation and operation of the Lobito rail line. As a shareholder in LAR, we view this railway as a vital domestic and regional asset that will drive economic development and facilitate the movement of critical metals to global markets.
