Post #94

🗺️Ore to Shore: Lobito Corridor Awakens 🌍 Africa Finance Corporation (AFC) has recently anounced its plans to invite companies to realize the Lobito railway project connecting copper deposits in Zambia and Southern DRC to the port of Lobito, Angola. The bidding process is expected to begin next year. 🔴 The Lobito corridor has the backing of the US as an alternative to the Tazara railway, which connects Zambia with Tanzania's ports and has the backing of the PRC. Both Lobito and its Beijing-financed doppleganger are aimed at bypassing logistics bottlenecks in South Africa that have slowed copper and cobalt exports. ‼️ The intensification of Lobito corridor construction will follow the recent revitalization of the Tazara project: on September 29 China, Zambia and Tanzania signed a $1.4 billion deal to rebuild the Tanzania-Zambia railway. Africa Finance Corp. doesn't explicitly say what geopolitical sides they're on, but AFC has often acted as a partner in many US infrastructure projects in Africa, working with JP Morgan Chase and the US Development Finance Corp. The two latest consecutive chairs of the board of AFC have both come from Citibank, where they both had stayed for several decades. Devils Below