The Africa Finance Corporation will launch debt and equity fundraising for a Zambia rail line in the third quarter this year, an official said Friday.
The financing drive targets financial close in the fourth quarter of 2027, marking a critical step in the ambitious regional infrastructure plan.
Construction is expected to begin immediately after funds are secured, with completion scheduled for 2030, according to AFC projections.
Senior director Amadou Wadda outlined the timeline at an African infrastructure conference in Nairobi, describing steady progress toward implementation.
The railway forms part of the US-backed Lobito Corridor, designed to link mineral-rich regions to Angola’s Atlantic port like a strategic artery.
The corridor aims to secure copper and cobalt supplies while countering China’s expanding influence over African rail and resource networks.
AFC expects contractor proposals for the Zambia section by the end of May, following completion of an earlier feasibility study.
The project includes 515 kilometres of rail in Zambia and 315 kilometres in the Democratic Republic of Congo.
These lines will connect into Angola’s 1,300-kilometre Benguela railway, creating a continuous export route flowing toward the Atlantic coast.
Last December, project backers secured financing to rehabilitate the Angola line through the US Development Finance Corporation and DBSA.
AFC has not disclosed the total construction cost for the Zambia segment, leaving the full investment scale still uncertain.
Wadda said initial agreements already cover transport of one million tonnes of cargo, reaching half the project’s viability threshold.