Lobito Corridor: A new line for trade and investment

As multi-country infrastructure projects gain momentum across Southern Africa, Zambia, Angola and the Democratic Republic of Congo have agreed to fast-track development of the Lobito Corridor, a strategic transport artery expected to boost regional trade, investment and economic integration.

- Dennis Mulilo

The commitment was formalised recently in Luanda during a coordination meeting comprising ministers of finance, transport, trade and infrastructure from the three countries.

The meeting also drew the European Union, international financing institutions including the African Development Bank and the World Bank Group as well as bilateral partners from France, Germany, Italy, Japan and the US. Under its Global Gateway Initiative, the EU is mobilising €2 billion (about R38bn) to develop the corridor.

A statement from the Luanda meeting said the three governments agreed to develop the corridor not just as a transport route but as an integrated economic corridor capable of catalysing agriculture, SME development, value-added mining, energy and urban growth, while consolidating access to global markets through the Atlantic Ocean.