AFC targets 2027 financial close for Zambia rail

The Africa Finance Corporation (AFC) has announced a definitive timeline for the financing and construction of a critical rail link in Zambia, a project central to the Western-backed Lobito Corridor. According to Amadou Wadda, senior director of portfolio management at the Lagos-based institution, the AFC will initiate its debt and equity fundraising efforts in the third quarter of this year, with the goal of reaching a financial close by the end of 2027.

Speaking at an infrastructure conference in Kenya, Wadda detailed that construction is slated to begin immediately following the procurement of funds, with a projected completion date in 2030. This rail development is a cornerstone of a broader strategy by the United States to secure supply chains for critical minerals such as Copper and COBALT BLUE HOLDINGS LTD. The initiative is widely viewed as a geopolitical move to provide an alternative to infrastructure projects backed by China across the continent.