Angola is looking to revolutionise the landscape of Southern Africa. Using private investment(Video)

Angola is looking to revolutionise the landscape of Southern Africa. Using private investment, it wants to transform the port of Lobito into the gateway of this region. It is also planning to make the province of Benguela the epicentre of trade and development in southern Africa.

Renaissance work

The Atlantic port of Lobito, along with the Benguela railroad, makes up the Lobito corridor which reaches more than 1300 kilometres deep into the continent.

It’s the quickest export route for copper, cobalt and other ores from Zambia, the Democratic Republic of the Congo and beyond.

Now that the railway is renovated, the Port of Lobito is also getting ready for a renaissance. Angola is privatising it with a 20-year concession to attract new investment and boost the economy.

Pedro Neto is the CEO of EagleStone, an investment banking advisory firm and he has lived in Angola for over 20 years. He tells us that the port of Lobito is a serious opportunity to create a network on the Atlantic coast to import and export goods and products from Zambia and the Democratic Republic of the Congo to the coast. “It’s really an opportunity to create an alternative to the Indian Ocean coast”, he adds.

To Neto it is more than just about moving metal from mines, he says that Lobito could be used to bring goods to the interior using Lobito port. He explains that along Lobito’s railway corridor there are huge important agricultural sectors “and that could be a huge point in favour of developing the port.”

The Big Plan

Privatising the Port of Lobito and the Benguela Railroad is part of the Angolan government’s wider plan to diversify the country’s economy with the help of more private investment. The World Bank Group backs the idea.

João Fernandes, the Coordinator of the Lobito Port Evaluation Commission, says that the Ministry of Transport’s master plan “is closely linked to the Port of Lobito and the Lobito Corridor” and they expect with the participation of foreigners they can improve the infrastructure and efficiency as well.