Benguela: President João Lourenço on Wednesday expressed gratitude to US President Joe Biden for his serious commitment to realizing the promises made at the 2022 US/Africa Summit in Washington DC, specifically regarding the construction of the Lobito Corridor. ‘It is indeed starting to materialize,’ Lourenço noted during the Multilateral Summit on the Lobito Corridor held in Benguela province, which coincided with President Biden’s visit to Angola.
According to Angola Press News Agency, President Lourenço emphasized the importance of the Lobito Corridor as a critical infrastructure project that African leaders have long advocated for. The project is seen as essential for the continent’s development, as connectivity and energy are vital to ensuring food security. The summit was attended by prominent leaders including US President Joe Biden, DRC President Félix Tshisekedi, Zambian President Hakainde Hichilema, and Tanzanian Vice-President Philip Mpango.
The Lobito Corridor, managed privately for 30 years by
the Lobito Atlantic Railway Consortium comprising Vecturis, Trafigura, and Mota Engil, includes significant components such as the port, mining terminal, Catumbela International Airport, and the Benguela Railway (CFB). The railway line extends 1,344 kilometers to Luau in Moxico. Over two billion dollars have been invested in upgrading the Corridor’s infrastructure to enhance goods transport, benefiting Angola’s neighboring countries.
Further plans involve constructing a 259-kilometer railway line connecting Angola to Zambia, from Luacano in Moxico to Jimbe at the Zambian border. The rehabilitation of Zambian and DRC railways is also crucial to interlink them with the CFB at Angola’s Luau border, facilitating ore transport to Lobito. Significant investments from the US and EU are aimed at boosting cargo movement through the Port of Lobito and CFB.
Benguela province, with its agricultural, fishing, and salt resources, is poised for substantial economic growth alongside the national economy, supported by the L
obito Corridor’s infrastructure. The creation of the Lobito Corridor Freight Transport Facilitation Agency is expected to expedite domestic and cross-border trade, involving small and medium-sized enterprises in value chains.
The Lobito Corridor offers an alternative strategic export route for DRC and Zambia, providing the shortest link to the mining regions of these landlocked nations. In Angola, the Corridor serves 40% of the population, with major agricultural and trade investments underway in Benguela, Huambo, Bié, and Moxico.
The legal framework established by the Corridor agreement allows the SADC member countries to collaboratively develop ‘harmonized’ regulations and systems, aligning with regional development plans like the Indicative Regional Strategic Development Plan 2020-2030.
Strategically important to the region, the Corridor will enhance food and energy security for Angola, the DRC, and Zambia, while creating jobs. The project is pivotal for agribusiness, food processing, and raw material i
ndustries, particularly minerals crucial for the automotive industry, facilitating cross-border trade and international market access.
The Lobito Corridor is set to boost provincial and national economies, generating direct and indirect employment and fostering economic growth cohesion within the country. It enhances trade among the participating states and provides logistical access for goods transport and import.