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The Africa Finance Corporation (AFC) has identified the Zambia–Lobito railway project as a flagship development expected to accelerate regional trade and industrialisation, as the inaugural Africa We Build Summit 2026 gets underway on Thursday in Kenya.
The proposed corridor will create a shorter export route to the Atlantic Ocean for copper and cobalt from Zambia and the Democratic Republic of Congo, helping to ease congestion along traditional routes in eastern and southern Africa.
In a statement, AFC Deputy Director and Head of Financial Advisory, Fola Fagbule, said the initiative would establish a strategic rail connection linking Zambia to the existing Lobito railway line in Angola.
“We have already secured about US$750 million for the rehabilitation of the Angola rail line, and we are now advancing early-stage plans to develop a spur connecting that line into Zambia,” he said.
Read more: Italy elevates Zambia to priority development partner, commits $270 million to Lobito Corridor
Fagbule described the corridor as a critical, multi-billion-dollar project being spearheaded by AFC in partnership with the governments of Angola, Zambia and other regional stakeholders.
He explained that AFC structures its financing through a blend of debt, equity and quasi-equity, using project finance models aimed at crowding in private sector investment into Africa’s infrastructure space.
“The corporation raises capital globally, drawing investors from Asia, the Middle East, Europe and the Americas to fund projects across the continent,” he added.
According to Fagbule, AFC’s treaty-based framework among its member states grants it preferred creditor status and tax advantages, strengthening its credit profile and enabling it to mobilise large-scale funding.
He noted that AFC managed nearly US$20 billion in assets and had supported more than 170 infrastructure projects across Africa, contributing an estimated US$50 billion to the continent’s GDP and generating over seven million jobs.
Fagbule further highlighted key priority sectors including transport, renewable energy, oil and gas, digital infrastructure, fertiliser production and mining, stressing that infrastructure development remained central to Africa’s long-term industrial growth.
The Africa We Build Summit, running from April 23 to 24 in Nairobi, is bringing together investors, policymakers and development partners to fast-track infrastructure investment and project development across Africa.
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