President Hakainde Hichilema officiated at the Lobito Corridor Private Sector Investment Forum in Chongwe District. The event, attended by delegates from Angola, the Democratic Republic of Congo (DRC), and Zambia, alongside partners from the United States, the European Union (EU), and other collaborators, highlighted the transformative potential of the Lobito Corridor Railway Line project.
In his address, President Hichilema expressed gratitude to all participants and emphasized the significance of the Lobito Corridor project. Once completed, the railway line will establish a vital link connecting Zambia to the Atlantic and Indian Oceans through Angola and Tanzania. This infrastructure development promises to modernize transport logistics, facilitate trade, and attract investments across various sectors including agriculture, manufacturing, renewable energy, and tourism.
Of notable mention is the collaborative initiative in electric battery trade involving Zambia, DRC, and the USA, which the corridor is set to support. President Hichilema extended special thanks to key contributors to the project’s development, including the United States, EU, Africa Finance Corporation, and African Development Bank.
Addressing fellow Zambians directly, President Hichilema stressed the importance of seizing the opportunities generated by this investment. He urged citizens to make the most of the jobs and prospects that will arise from the project’s implementation.
President Hichilema also emphasized the need for affordable capital and access to the best technology in realizing the Lobito Corridor development. He urged the private sector to communicate any challenges that may hinder the project’s progress, ensuring timely resolution for its successful realization.
The Lobito Corridor Private Sector Investment Forum attracted over 250 business leaders from around the world, signaling global interest and support for the project. US President Joseph Biden’s Senior Advisor, Amos Hochstein, expressed optimism regarding the project’s timeline, foreseeing its commencement by 2026 and operationalization before 2028.
Furthermore, Samaila Zubairu, President and Chief Executive Officer of the Africa Finance Corporation, highlighted the corridor’s potential to boost minerals exports by increasing capacity along the rail link.
As discussions continue and partnerships strengthen, the Lobito Corridor project stands as a beacon of economic growth and cooperation, poised to uplift the lives of citizens across the region.