Benguela: The Lobito Corridor presents a significant opportunity for regional integration, economic transformation, and the enhancement of living conditions for local populations, as expressed by the President of the Democratic Republic of Congo (DRC), Félix Tshisekedi, during the opening of the Multilateral Summit on the Lobito Corridor in Benguela.
According to Angola Press News Agency, President Tshisekedi emphasized that the infrastructure project is more than an economic endeavor; it represents a union treaty among Angola, DRC, Zambia, and Tanzania. The project symbolizes a collective effort to transform potential into tangible prosperity for local communities. The corridor, which connects the mining regions of the DRC and Zambia to the Port of Lobito, is projected to transport around 20 million tons of goods by 2030.
President Tshisekedi highlighted the strategic importance of the project in leveraging the region’s natural resources, particularly copper and cobalt, which account for approximately 70%
of global demand for the energy transition. The combined production from these resources is estimated at three million tons per year. He noted that the project would significantly cut logistics costs, boost export revenues, and create a unique opportunity for growth.
With a railway spanning 1,739 kilometers, the Lobito Corridor is poised to enhance regional integration within the African continent, fostering the creation of over 30,000 direct and indirect jobs. This development aligns with the African Union Agenda 2063 by reducing poverty and promoting Central African commerce. Tshisekedi pointed out that the current transit time for goods, which is about 30 days, will be reduced to less than 10 days, thereby increasing competitiveness.
In his remarks, President Tshisekedi assured of the DRC’s full commitment to the project, underscoring its role not only as a logistical route but also as a driver of economic and social transformation for thousands of people. He also touched upon renewable energy, private i
nvestment, transparency, and good governance, along with peace and security.
Tshisekedi urged the private sector to capitalize on this opportunity by investing in the development of railway, energy, and port infrastructures. He emphasized the importance of wealth contributing to the well-being of populations, referring to initiatives like the Inga 3 hydroelectric dam as critical to the project’s success. He also prioritized transparency and good governance to ensure a climate of security and trust among partners, with a focus on regional peace and stability.
In closing, Tshisekedi acknowledged Angola’s pivotal role in the Luanda process and reaffirmed the DRC’s dedication to pursuing lasting peace in the eastern regions of the country. The summit was attended by several prominent figures, including DRC’s Félix Tshisekedi, Angola’s President João Lourenço, USA’s President Joe Biden, Zambia’s President Hakainde Hichilema, and Tanzania’s Vice-President Philip Mpango.