Luanda, June 24, 2025 (Lusa) — The Angola Sovereign Wealth Fund (FSDEA) and Israeli businessman Haim Taib have announced the launch of a platform to mobilise US$1 billion for projects in the Lobito Corridor, with an initial investment of US$100 million.
The Lobito Corridor Development and Investment Platform (LCID Platform) will function as an independent structure to accelerate investments in sectors considered to be catalysts for development, including agriculture, infrastructure, health, industry, education and digital inclusion.
The projects will be selected by an independent committee through tenders, and each will be structured as a “special purpose vehicle” (SPV), allowing for the involvement of local and international investors.
The agreement was formalised during the 17th US-Africa Business Summit, co-organised by the Angolan government and the Corporate Council on Africa (CCA), with each party - the FSDEA, chaired by Armando Manuel, and the Mitrelli group, led by Haim Taib - committing US$50 million (€43.1 million).
According to the FSDEA president, “this agreement reflects Angola’s commitment to regional leadership, economic resilience and transformative investment”.
“With a projected reduction in transport costs of up to 40% and an increase in intra-SADC [Southern African Development Community] trade of up to 40%, the Lobito Corridor will become one of Africa’s most strategic economic arteries,” said Armando Manuel, quoted in a company statement.
“This US$100 million (€93 million) commitment is a first concrete step towards realising a bold and shared vision for Africa’s future. This platform is not just about building the railway, it is about building the world around it, because the real drivers of inclusive growth are the 40 million people who live and work along the corridor,” said Haim Taib, founder of the Mitrelli group and the Menomadin Group, quoted in a company statement.
The businessman also revealed that advanced negotiations are underway for Zambia to join the platform, extending the initiative’s reach beyond the borders of Angola and the Democratic Republic of Congo (DRC).
The new platform is open to institutional funds, sovereign partners and private investors who wish to contribute capital and know-how, the press release said.
The Lobito Corridor, a railway linking the port of Lobito on Angola’s Atlantic coast to the DRC, is seen as a vital infrastructure for the transport of minerals critical to renewable energy, electric vehicles, semiconductors and other strategic industries at a time when resilient supply chains are a priority.
In addition, it aims to connect the Indian Ocean to the Atlantic in the future, crossing Africa from east to west.
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