President Hakainde Hichilema has reaffirmed government’s commitment to the Lobito corridor project, describing it as a strategic investment that will strengthen regional trade, stimulate industrialisation and unlock economic opportunities across the three countries. Mr…

President Hakainde Hichilema has reaffirmed government’s commitment to the Lobito corridor project, describing it as a strategic investment that will strengthen regional trade, stimulate industrialisation and unlock economic opportunities across the three countries.

Mr Hichilema says the project was critical to Zambia’s economic transformation agenda and aligned with the government’s ambition to grow the economy through increased production, value addition and regional economic integration.

Speaking at State House in Lusaka today when he received a delegation from the African Finance Corporation (AFC), which is providing leadership on the corridor project, Mr Hichilema said the initiative would also strengthen trade among African countries.

He said Africa currently conducts limited trade within the continent and that the corridor would help address the challenge by improving connectivity and facilitating the movement of goods between countries.

“This project is extremely important to us in Zambia as it fits into the global and Grow Zambia Agenda,” Mr Hichilema said.

He pointed out that the initiative was equally important to Angola and the Democratic Republic of Congo (DRC), adding that its benefits would extend beyond the three participating countries to the wider African continent.

Mr Hichilema said the corridor would improve the ability of African countries to conduct business with one another and contribute to the realisation of the continent’s economic integration aspirations.

He cited the need to connect food-producing areas with markets where demand existed, saying the project would improve the movement of agricultural produce and other goods.

The President further stressed that the corridor should not be viewed merely as a railway line but as a broader economic development initiative involving infrastructure, industries, primary production and processing.

Meanwhile, African Finance Corporation Chief Executive Officer, Samaila Zubainu, said the corporation and the Zambian government were aligned on the need to deliver the project.

Mr Zubainu said discussions with President Hichilema had addressed key issues surrounding the initiative and expressed confidence that the two sides would work together to ensure its delivery.

“We have covered most areas. We are aligned that we will deliver this project together,” Mr Zubainu said.