Connect with us
Anglostratits

Business

Africa Finance Corporation (AFC)-led Zambia Lobito Rail Project receives boost from Biden visit to Angola

Published

on

Africa Finance Corporation

The project is led by the Lobito Corridor consortium, with AFC as the as lead developer, working in partnership with the US Government

LUANDA, Angola, December 5, 2024/APO Group/ —

  • Lobito rail project will break ground by early 2026, AFC CEO Zubairu says at Presidential forum
  • AFC commits up to US$500m in financing for Zambia-Lobito greenfield rail
  • AFC announces MOU with Kobold Metals as anchor client, guaranteeing at least 300,000 tons of copper and related freight per year
  • AFC pledges US$100 million to Kobaloni Energy for Zambia’s first battery-grade copper sulphate facility

The Zambia-Lobito Rail project received pivotal support from US President Joe Biden’s just concluded visit to Angola, with the Africa Finance Corporation (AFC) (www.AfricaFC.org) as the lead developer announcing a series of commitments that underscore the project’s urgency and transformative potential to deliver economic benefits that transcend borders.

In a speech at the Lobito Corridor Leaders Summit, co-hosted by President Biden and President Joao Lourenço of Angola, and attended by Presidents of the Democratic Republic of the Congo (DRC) and Zambia, Vice President of Tanzania and representation from the private sector, AFC’s President and CEO Samaila Zubairu announced that the Zambia-Lobito greenfield rail project will break ground by early 2026. AFC is committed to mobilising $500 million in financing through various financial instruments, Mr. Zubairu said, bringing overall project financing to over $1 billion.

Among a series of additional announcements, Mr. Zubairu said AFC has established a Memorandum of Understanding with critical minerals enterprise KoBold Metals as an anchor client, securing a minimum of 300,000 tons of copper and related freight annually. AFC has also committed $100 million to Kobaloni Energy to support Zambia’s first battery-grade copper sulphate facility, ensuring sustained movement of cargo on the new railway.

“This project symbolizes what Africa’s leadership, together with our global partners, can achieve when we unite behind a shared vision,” Mr. Zubairu said in his speech at the forum. “It is not just about railways or minerals or food security — it is about fostering partnerships, creating jobs, and driving a sustainable future for Africa and the world.”

The Lobito Corridor will connect the Port of Lobito on Angola’s Atlantic coast with Zambia through modernized rail infrastructure. Plans are underway to extend connectivity to Tanzania’s Port of Dar es Salaam, linking the Atlantic and Indian Oceans, and strengthening regional trade and integration across East and Southern Africa.

This project symbolizes what Africa’s leadership, together with our global partners, can achieve when we unite behind a shared vision

AFC intends to collaborate with other multilateral development banks and financial institutions to develop instruments that attract global institutional capital. Additionally, AFC will engage African pension funds to invest, promoting generational sustainability.

The summit showcased significant progress in the development of the Lobito Trans-Africa Corridor. The project is led by the Lobito Corridor consortium, with AFC as the as lead developer, working in partnership with the US Government, the European Union, the African Development Bank and the governments of Angola, the Democratic Republic of Congo and Zambia.

“The rapid pace at which we are moving reflects the urgency of the type of development Africans are demanding from their leaders, and the conviction of this consortium to execute,” Mr. Zubairu told the summit. “The Lobito Corridor is more than just a rail line—it is an economic corridor that provides a lower-cost, lower-carbon gateway to African integration and global competitiveness.”

At the 79th UN General Assembly (UNGA) in September, AFC achieved a major milestone by signing   concession agreements with the Governments of Angola and Zambia to extend the Lobito railway through Zambia’s Copperbelt. This entails the construction of an 830km greenfield rail line connecting the Benguela rail line in Lucano, Angola, to the existing Zambian rail line in Chingola. Simultaneously, AFC received grant funding from the US Trade and Development Agency (USTDA) towards completion of the environmental and social impact assessment for the project. These achievements, realised within one year of the 7-party MoU signed at the Global Gateway Forum in Brussels in 2023, highlight AFC’s catalytic role in driving the project’s rapid progress.

Once completed, the Lobito Corridor will offer the fastest and most efficient route for exports and imports, linking key mining regions, agricultural clusters and businesses in Zambia and DRC to the Port of Lobito, Mr. Zubairu said. The rail link will cut travel time from the Copperbelt to international markets from 45 days to just seven, significantly lowering costs. Shifting freight from road to rail will reduce emissions by at least 300,000 tons of CO2 annually, underscoring Africa’s leadership in the global energy transition and efforts to decarbonize the battery minerals value chain—particularly in producing battery precursors for both American industries and global markets, Mr. Zubairu told the summit it will also catalyse opportunities in ecotourism, agribusiness, and power transmission lines.

Beyond the greenfield railway, AFC is the Financial Advisor for the Lobito Atlantic Railway (LAR) consortium, concessionaires of the existing Benguela railway stretching across Angola and into the Democratic Republic of Congo.

Click here (https://apo-opa.co/49l5UUO) for a replay of the Lobito Corridor Leaders Summit.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

Energy

Venezuela Energy Week Confirms 19 August Date for Houston Industry Showcase

Published

on

Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the Houston Industry Showcase will take place on 19 August, convening U.S. energy leaders ahead of Venezuela Energy Week 2027 in Caracas

HOUSTON, United States of America, August 10, 2026/APO Group/ –The organizers of Venezuela Energy Week (VEW) have confirmed that the Houston Industry Showcase will take place on 19 August 2026 at The Post Oak Hotel. Officially supported by Venezuela’s Ministry of Hydrocarbons and national oil company PDVSA, the event will bring together U.S. energy companies, investors and policymakers to explore commercial opportunities ahead of Venezuela Energy Week 2027 in Caracas in February.

The showcase will feature Minister of Hydrocarbons Paula Henao as a keynote speaker, providing an update on Venezuela’s energy priorities, investment agenda and opportunities for international partnership. Her participation underscores the country’s commitment to strengthening engagement with global industry as it seeks to expand production and unlock new upstream investment.

Bringing together exploration and production companies, independent operators, oilfield service providers, engineering firms, technology companies and financial institutions, the Houston Industry Showcase will examine opportunities across exploration, production optimization, infrastructure rehabilitation and field development.

As Venezuela works to increase oil and gas production, demand is expected to grow for the technical expertise of U.S. service providers in drilling, well intervention, completion services, production optimization, artificial lift, digital oilfield technologies and infrastructure rehabilitation. Houston-based industry leaders – including SLB, Halliburton, Baker Hughes, Weatherford and a broad network of EPC contractors, equipment manufacturers and specialized service companies – are well positioned to support the modernization of mature fields, improve operational efficiency and deliver the technologies and services needed for future upstream projects.

The Houston event follows a successful Industry Showcase in London, which brought together international investors, operators and energy service companies to explore Venezuela’s evolving investment landscape. Building on that momentum, the Houston edition will deepen engagement with the U.S. energy industry and strengthen commercial dialogue ahead of Venezuela Energy Week 2027.

Venezuela Energy Week – the country’s largest energy investment platform to date – has been confirmed for 22–25 February 2027 in Caracas. Organized by Energy Capital & Power, the event will bring together government leaders, investors and industry stakeholders from across the global energy value chain.

To register for the Houston Industry Showcase on August 19, visit https://apo-opa.co/4g0TncR. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2027 in Caracas, contact info@venezuelaenergyweek.com.

Supporting Venezuela’s Earthquake Recovery
Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4hkvteE).

Distributed by APO Group on behalf of Energy Capital & Power.

Continue Reading

Business

Islamic Development Bank Institute (IsDBI) Secures New Patent for Smart Stabilization System from Intellectual Property Office of Singapore

Published

on

IsDBI

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility

JEDDAH, Saudi Arabia, August 10, 2026/APO Group/ –The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) is pleased to announce that the Intellectual Property Office of Singapore (IPOS) has granted a new patent for its innovative Smart Stabilization System.

 

The patent was granted on 10 July 2026 under Singapore Patent No. 10202250873B for the invention titled “A Computer Network Stabilization System and Method.” The patent application was filed on 1 September 2022 and was formally granted following a comprehensive review process.

This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development

The Smart Stabilization System is a pioneering digital market infrastructure designed to stabilize asset markets by intelligently managing supply-demand gaps and mitigating excessive volatility. Leveraging sophisticated algorithms and advanced simulation models, the system is designed to anticipate supply and demand imbalances and implement programmable stabilization measures before they escalate into market disruptions.

Unlike traditional stabilization mechanisms that rely on capital reserves, buffer funds, or external interventions, the Smart Stabilization System introduces a next-generation framework for achieving autonomous market stabilization through proactive and programmed stabilization mechanisms. By incorporating distributed ledger technology and cryptographic trust mechanisms, the platform enhances transparency, trust, and operational resilience for digital asset and commodity markets.

The successful patent grant reflects IsDBI’s growing contribution to technological innovation and its commitment to developing knowledge-based solutions that address contemporary economic and development challenges.

Since filing the patent application back in 2022, the Institute has continued to advance the Smart Stabilization System through ongoing development and testing, aimed to expand its practical applications and support future capitalization opportunities. These advancements have positioned the system as a potentially transformative solution for enhancing stability and resilience in increasingly digital and interconnected economies.

Commenting on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said, “The grant of this patent by the Intellectual Property Office of Singapore further strengthens the Institute’s position as a leader in developing innovative knowledge-based solutions that leverage modern technologies to address complex development challenges. This achievement reflects our commitment to translating pioneering research into practical solutions that contribute to economic resilience and sustainable development.”

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

Continue Reading

Business

Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

Published

on

The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

Continue Reading

Trending