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Associated Press
04-06-2025
- Business
- Associated Press
Investors in Africa's Lobito Corridor Visit Washington and NYC to Deepen U.S. Cooperation
Momentum builds around Lobito Corridor as new $1B platform accelerates strategic U.S.-Africa investment WASHINGTON, DC / ACCESS Newswire / June 4, 2025 / With geopolitical dynamics rapidly evolving and global powers racing to secure critical infrastructure and supply chains, a high-level African delegation visited Washington and New York to deepen cooperation with the United States. At the center of these talks: the Lobito Corridor - a $4 billion infrastructure initiative connecting Angola, Zambia, and the Democratic Republic of Congo - and a new $1 billion private development platform aimed at transforming the region. The delegation was led by global entrepreneur and President of Menomadin and Mitrelli Group, Haim Taib, along with Dr. Armando Manuel, Chairman of Angola's Sovereign Wealth Fund (FSDEA), and Mr. Muyangwa Muyangwa, Director General of Zambia's National Pension Scheme Authority (NAPSA). Together, they are advancing the Lobito Corridor Impact Development (LCID) Platform, a bold initiative to drive strategic, long-term investments in agriculture, energy, industrial zones and human development along the corridor. 'This is a once-in-a-generation opportunity,' said Haim Taib. 'If the U.S. wants resilient supply chains, new markets, and strong alliances, it must invest in infrastructure and development-not just diplomacy. The Lobito Corridor is the blueprint: a gateway for trade, a catalyst for local industry, and a model for partnership that delivers mutual returns.' The weeklong visit reflected growing American interest in African-led investment frameworks. Highlights included: meeting with the Angola Minister of Transportation to align priorities for implementation; policy and investment dialogues with the U.S. International Development Finance Corporation (DFC); A session with the Corporate Council on Africa (CCA) for the upcoming U.S.-Africa Business Summit, where Mitrelli will serve as a strategic partner; A meeting with Senator Ted Cruz, discussed the need for viable alternatives to Chinese infrastructure dominance; and an exclusive world doco premiere organized by Foreign Affairs magazine and Africell, showcasing the corridor's economic and human potential. 'Financial cooperation is now more essential than ever,' said Mr. Muyangwa. 'With the right partners, we can ensure the Lobito Corridor delivers inclusive growth, long-term jobs, and infrastructure that unlocks regional trade. The momentum is here-we must act on it.' 'What we need are bankable projects and credible partners,' he added during his visit. 'Africa doesn't lack vision. It lacks execution capacity and aligned capital. The Lobito Corridor offers a new way to structure collaboration-where public institutions, sovereign funds, and the private sector build together.' The LCID Platform, launched by Haim Taib and the FSDEA, is mobilizing $1 billion in private capital to scale bankable, impact-driven projects in the Lobito Corridor region. The platform is now engaging American and global investors to co-invest in industrial, logistical, and community infrastructure that unlocks growth across multiple sectors. 'Sovereign wealth funds are playing an increasingly important role in Africa's transformation and their involvement will be essential to completing the Lobito Corridor,' said Dr. Armando Manuel. 'Acting as global investors, these funds are driving sustainable development through strategic partnerships like the LCID Platform, channelling long-term capital while delivering lasting value to our citizens. With rich minerals, arable land, and a young, growing population, the Lobito Corridor can become a hub for agro-industrialization, digital connectivity, and regional integration'. Added Dr. Armando Manuel. With the African Continental Free Trade Area (AfCFTA) now connecting a $1.3 trillion market of 1.4 billion people, the Lobito Corridor offers the U.S. a tangible path to deepen economic ties, strengthen regional stability, and secure strategic resources. 'This is more than a railway, it's one of the most strategic projects in Africa today, with a strong global impact,' said Haim Taib. About Haim Taib Haim Taib is a global entrepreneur and impact investor who has led and financed projects exceeding $10 billion across Africa, Europe, and the Middle East. As founder of Mitrelli Group, Menomadin Group, JETA, Luminar Impact Capital, and the Menomadin Foundation, he drives a powerful value chain focused on strengthening and developing nations. His work spans over 100 national-scale projects in infrastructure, energy, healthcare, food and water security, education, technology, and urbanization. With a clear vision and decades of experience, Taib is a trusted partner to governments and a driving force behind some of the most ambitious public-private initiatives in the Global South. About FSDEA The Fundo Soberano de Angola (FSDEA) is Angola's sovereign wealth fund, established to promote long-term economic growth and diversification and offers trusted entry points for global capital in Africa. Specializing in Strategic Investments, encompassing both Financial Markets and Alternative Assets, it is tasked with establishing a sustainable mechanism that ensures the maximization of long-term returns, the preservation of capital, and the support of sustainable socioeconomic growth in Angola and the region. This is achieved through investments in strategic sectors, both domestically and internationally, aimed at optimizing capital and facilitating the generational transfer of wealth. About NAPSA The National Pension Scheme Authority (NAPSA) is Zambia's public pension fund and one of the country's largest institutional investors. It plays a crucial role in national development through strategic investments in infrastructure, real estate, and capital markets-ensuring financial security for citizens and sustainable growth for future generations. Contact Information Bridget Lewis Senior Account Executive [email protected] 7027732111 SOURCE: Mitrelli press release
Yahoo
14-05-2025
- Business
- Yahoo
Haim Taib, in Partnership With Angola Sovereign Fund, Launches $1 Billion Development Platform to Transform Africa's Lobito Corridor
Committed First $100 Million to Catalyze Inclusive Growth Across Africa's New Economic Artery WASHINGTON, DC / / May 14, 2025 / In a bold move to reshape Africa's position in the global economy, Haim Taib, Founder and President of the Menomadin & Mitrelli Group, announced today, in partnership with Angola Sovereign Fund, the launch of a $1 billion Lobito Corridor Impact Development (LCID) Platform. This landmark private initiative will fuel sustainable, inclusive development across Angola, through the DRC, and into Zambia. The platform opens with a joint commitment of $100 million from Haim Taib and Angola's Sovereign Wealth Fund (FSDEA)-$50 million by each. Its mission is to invest in catalytic projects across agriculture, infrastructure, healthcare, light industry, education, and digital inclusion that unlock economic value, empower local communities, and accelerate regional integration. The Lobito Corridor Impact Development Platform (LCID Platform) is designed as an independent investment platform to accelerate Africa's next phase of industrial and human development. The Platform invites institutional investors, sovereign partners, and private investors to join this mission, contributing capital, capabilities, and credibility. All projects will be evaluated and selected by an independent investment committee via tenders, ensuring strategic alignment, impact, feasibility and financial viability. Each project will be structured through a dedicated Special Purpose Vehicle (SPV), enabling local and international companies to invest in the projects that most appeal to them. "This is a once in a generation opportunity and a call for global investors to lead the development of this new trade route of the world," said Haim Taib. "The Lobito Corridor is not just a railway-it's a new economic artery for Africa. This represents opportunities for future development by Africans, supported by global partnerships focused on trust, innovation, and shared prosperity. It is an opportunity to reshape Africa's role in the global economy through strategic economic development and potentially impact the lives of 40 million people." Strategic Platform with Global Impact. Stretching from Angola's Atlantic Port of Lobito through the DRC and into the mineral-rich Copperbelt of Zambia, the Lobito Corridor is emerging as a key route to global markets. It supports faster and safer access to the critical minerals required for renewable energy, EVs, semiconductors, and industries-at a time when resilient supply chains have become a top priority for the United States and the world. This corridor aims to connect, in the future, the Indian Ocean with the Atlantic Ocean, traversing Africa from east to west. "The Lobito Corridor is more than infrastructure-it's a catalyst for inclusive development," said Dr. Armando Manuel, Chairman of FSDEA. "This partnership reflects a shared commitment to smart capital and strategic partnerships that prioritize long-term impact. It's an African-led model-with global relevance. This is just the beginning. We are calling on more sovereign funds and global investors to join us in transforming the Lobito Corridor into a platform for scalable growth, prosperity, and global partnership." The LCID Platform will focus on transformative projects that generate financial returns and advance national development goals in the countries along the corridor. Investment priorities include agro-industrial ventures, manufacturing, digital infrastructure, vocational training, SME development, and youth entrepreneurship. It's currently working with NAPSA-Zambia's public pension fund-to identify strategic projects and investments across the Lobito Corridor. This model-infrastructure as the foundation, human capital as the accelerator-aligns with the UN Sustainable Development Goals (SDGs) and offers a compelling investment framework for U.S. and global partners. Taib's holdings are expanding to the USA to facilitate direct collaboration with American financial institutions, tech leaders, and DFIs. The Washington-based platform aims to expand public-private partnerships and mobilize capital in line with Africa's green and digital transformation. ------------------------------------------------------------------------------------------------------------ About Haim Taib Haim Taib is a global entrepreneur and impact investor who has led and financed projects exceeding $10 billion across Africa, Europe, and the Middle East. As founder of Mitrelli Group, Menomadin Group, JETA, Luminar Impact Capital, and the Menomadin Foundation, he drives a powerful value chain focused on strengthening and developing nations. His work spans over 100 national-scale projects in infrastructure, energy, healthcare, food and water security, education, technology, and urbanization. With a clear vision and decades of experience, Taib is a trusted partner to governments and a driving force behind some of the most ambitious public-private initiatives in the Global South. About FSDEA The Fundo Soberano de Angola (FSDEA) is Angola's sovereign wealth fund, established to promote long-term economic growth and diversification and offers trusted entry points for global capital in Africa. Specializing in Strategic Investments, encompassing both Financial Markets and Alternative Assets, it is tasked with establishing a sustainable mechanism that ensures the maximization of long-term returns, the preservation of capital, and the support of sustainable socioeconomic growth in Angola and the region. This is achieved through investments in strategic sectors, both domestically and internationally, aimed at optimizing capital and facilitating the generational transfer of wealth. About NAPSA The National Pension Scheme Authority (NAPSA) is Zambia's public pension fund, responsible for managing social security contributions and investments to secure long-term financial stability for the country's workforce. As one of Zambia's largest institutional investors, NAPSA plays a critical role in driving national development through strategic investments in real estate, infrastructure, and capital markets-ensuring inclusive growth and retirement security for future generations. Contact Information Bridget Lewis Senior Account Executivebridget@ SOURCE: Javelin View the original press release on ACCESS Newswire
Business Insider
05-05-2025
- Business
- Business Insider
Cambridge's African students have convened one of the continent's most serious conferences on power and capital
This week, while African presidents, business executives, and sovereign wealth fund managers fly into the University of Cambridge, the real headline is who brought them there. On Friday 9 and Saturday 10 May 2025, the 11th Annual Cambridge Africa Together Conference will bring over 250 delegates to Cambridge for one of the continent's most globally connected forums on economic power, policy, and political leadership. Orchestrated entirely by the African Society of Cambridge University, this student-led initiative has drawn a level of attention and credibility that few academic institutions, let alone student organisations, can claim. This year's theme, 'The Flames of the Big Four, Shining with Many More', repositions how African investment trends are commonly understood. The 'Big Four'—Nigeria, South Africa, Kenya, and Egypt—continue to dominate foreign direct investment and venture capital flows on the continent. But the organisers argue that this concentration hides a deeper truth: progress is being made across Africa along other, less headline-driven metrics—governance, regional integration, institutional reform, innovation and long-term planning. The conference challenges the assumption that power only sits where the capital goes. And the programme reflects that challenge. Confirmed speakers include His Excellency Ndaba Gaolathe, Vice President and Minister of Finance of the Republic of Botswana; Mr Armando Manuel, Chairman of the Angola Sovereign Wealth Fund; Mrs Mukwandi Chibesakunda, Chief Executive Officer of Zambia National Commercial Bank; Dr Patricia Nzolantima, Chairwoman of Bizzoly Holdings; and Mr Kennedy Agyapong, Ghanaian business tycoon and former Member of Parliament. Across eight strategic sessions, two keynote addresses, and a competitive inter-university debate, the conference offers not another networking event, but a platform for serious, high-level engagement. The opening keynote by Vice President Gaolathe will examine Botswana's governance and fiscal model, focusing on how stability, policy clarity and long-term discipline can produce results, even in smaller economies. Several sessions focus directly on Africa's business and investment future: Forging Growth Through Fiscal Transformation, featuring Malawi's Minister of Trade and Industry, Mr Vitumbiko Mumba, alongside Mr Armando Manuel, will address industrial competitiveness, sovereign capital, and public finance reform. New Frontiers in Fintech and Financial Power, with Mrs Mukwandi Chibesakunda and Mr Mobolaji Bammeke, Chief Compliance Officer at Flutterwave, will explore how digital finance and regulation are reshaping Africa's financial infrastructure. Inclusive Investments and the Race to Prosperity, led by Dr Patricia Nzolantima, will present a vision for gender-lens investing as a lever for economic transformation. The most anticipated student-centred element of the programme is the Ichikowitz Family Foundation Inter-University Africa Debate, a competitive debate for a cash prize between teams from the University of Cambridge, University of Oxford, London School of Economics and Political Science, and Imperial College London. The debate motion— 'The House Believes Foreign Investment Is Deepening Inequality and Dependency in Africa' —is rooted in the Ichikowitz Family Foundation's 2024 African Youth Survey, which revealed that 72 per cent of African youth believe foreign investors exploit the continent's natural resources for their own benefit. As investment continues to concentrate in the 'Big Four', the debate invites a necessary confrontation: whether Africa's dependency on external capital is entrenching inequality and eroding sovereignty under the banner of development. Other sessions examine different dimensions of power. The Making of Africa's Future Presidents features Mr Kennedy Agyapong and His Excellency Peter Obi, two recent presidential contenders from Ghana and Nigeria respectively, discussing public trust, political ambition, and the responsibilities of national leadership. Driving Africa's Health Revolution, with Professor Tumani Corrah, Founder of the Africa Research Excellence Fund, focuses on scientific sovereignty. The Guns Behind Governance and Regional Security features Lieutenant General Abdulrahman Dambazau, former Minister of Interior of Nigeria, on the balance between state and security. Sustainable Infrastructure for a Modern Africa, with Mr Owen Chomanika, Malawi's Minister of Natural Resources and Climate Change, will address infrastructure and climate policy. The final session, The Power and Politics in Educating the Youth, features Ms Chido Cleopatra Mpemba, Special Envoy for Youth at the African Union Commission, on access, curriculum control and civic leadership development. This is not a conference for show. It is a working forum. And while it is led by students, its impact reaches far beyond academia. What the organisers have achieved is not simply notable for their age or institution. It is notable because they have constructed a space serious enough to attract current and future presidents, ministers, financiers, and institutional leaders—not as a gesture, but as participants in the conversation.
