Lobito Corridor Key to Zambia’s Economic Transformation
Zambian Minister of Transport and Logistics Hon. Frank Tayali says the Lobito Corridor Project is key to Zambia’s economic transformation as the country is poised to become an Electric Vehicle (EV) battery and assembly hub.
Speaking as a panellist during the Lobito Corridor Stakeholder Discussion at the recently held Mining Indaba in South Africa, Hon. Tayali stated that, as part of the Government’s efforts to maximise the project’s benefits, EV industry regulations are currently under review.
He stated that the Lobito Corridor is the most efficient route for transporting goods and services between Angola’s port city of Lobito and the mineral-rich regions of the Democratic Republic of Congo (DRC) and Zambia’s Copperbelt Province.
He noted that the minerals in these regions are critical to the global energy transition and that the Lobito Corridor presents a strategic opportunity for mutually beneficial trade between Africa, the Americas, and Europe.
He anticipates a surge in large-scale mining investment, positioning the Lobito Corridor as a catalyst for accelerated economic development and regional integration. This, he added, will create employment opportunities for local communities and contribute to poverty alleviation.
“Zambia and DRC have signed a Memorandum of Understanding (MoU) intended to leverage the two countries endowed critical minerals for the EV industry, to set up Africa’s biggest EV battery industry.
“In light of this, Zambia has established an Industrial Park in the Copperbelt region for the EV battery and motor vehicle assembly plant,” Hon. Tayali said.
He noted that the effort to develop and realise the Zambia Lobito Rail Development Project comes at an opportune time and aligns seamlessly with the New Dawn Government’s vision of transforming Zambia into a Regional Transport and Logistics Hub.
He stated that this Greenfield railway project, once completed, will provide faster and more efficient connectivity to the port of Lobito, facilitating access to key import and export destinations for Western markets. Zambia is an investment destination of choice for Foreign Direct Investments (FDIs), which the business community within and outside Africa should take advantage of due to its peace and stability, tax friendliness, stable and predictable policies, and wide trade and market accessibility.
He further stated that Zambia has abundant natural resources, notably land, minerals, and water, professional, skilled, and affordable manpower, progressive banking, legal, and insurance services of international standards, and attractive fiscal and non-fiscal investment incentives.
