Félix Tshisekedi Highlights Strategic Importance of the Lobito Corridor for Regional Prosperity
The President of the Democratic Republic of Congo (DRC), Félix Tshisekedi, emphasized the strategic significance of the Lobito Corridor during a multilateral meeting in Benguela, Angola, on Wednesday, December 4, 2024.
This corridor, linking the DRC, Zambia, and Angola, is set to become a vital trade route, aiming to transport up to 20 million tonnes of goods annually by 2030.
Tshisekedi highlighted its potential to drive economic development, particularly in the DRC’s copper and cobalt sectors, which are crucial to the global energy transition.
“The Lobito Corridor, designed to transport up to 20 million tonnes of goods per year by 2030, is a key link between the DRC, Zambia, and Angola.
It symbolizes our collective desire to convert the potential of our countries into tangible prosperity, fostering interdependence where our economies can thrive together,” said President Tshisekedi.
The corridor is poised to significantly reduce logistics costs, increase export revenues, and boost the regional economy. With the DRC and Zambia together producing approximately 3 million tonnes of copper and cobalt annually, the Lobito Corridor could become a game-changer in transforming the region’s economic landscape.
Furthermore, the project is expected to create over 30,000 direct and indirect jobs, contributing to poverty alleviation and regional growth. Spanning 1,737 kilometers, the corridor will integrate rail and road infrastructure, enhancing regional connectivity and integration.
Tshisekedi also noted that the Lobito Corridor is part of a broader framework of international investments, with financial backing from the United States and the European Union.
The corridor is seen as a strategic alternative route to global markets, strengthening intra-African trade and regional economic cooperation.
A new agency dedicated to managing the Lobito Corridor will streamline access for Congolese and Zambian importers and exporters, further facilitating trade and economic activity.
Overall, the Lobito Corridor is viewed as a key driver of economic transformation, bringing significant benefits to the millions of citizens in the three nations involved. It not only provides critical logistical infrastructure but also serves as a powerful symbol of economic interdependence and shared prosperity in Africa.
