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Associated Press
a day ago
- 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
27-05-2025
- Automotive
- Yahoo
3 Reasons to Avoid LCID and 1 Stock to Buy Instead
While the broader market has struggled with the S&P 500 down 3.3% since November 2024, Lucid has surged ahead as its stock price has climbed by 17.5% to $2.55 per share. This was partly due to its solid quarterly results, and the run-up might have investors contemplating their next move. Is now the time to buy Lucid, or should you be careful about including it in your portfolio? Get the full stock story straight from our expert analysts, it's free. We're glad investors have benefited from the price increase, but we're swiping left on Lucid for now. Here are three reasons why LCID doesn't excite us and a stock we'd rather own. Cost of sales for an industrials business is usually comprised of the direct labor, raw materials, and supplies needed to offer a product or service. These costs can be impacted by inflation and supply chain dynamics. Lucid has bad unit economics for an industrials business, signaling it operates in a competitive market. This is also because it's an automobile manufacturer. Automobile manufacturers have structurally lower profitability as they often break even on the initial sale of vehicles and instead make money on parts and servicing, which come many years later - this explains why new entrants whose fleets are too young to generate substantial aftermarket revenues have negative gross margins. As you can see below, these dynamics culminated in an average negative 161% gross margin for Lucid over the last five years. Free cash flow isn't a prominently featured metric in company financials and earnings releases, but we think it's telling because it accounts for all operating and capital expenses, making it tough to manipulate. Cash is king. Lucid's demanding reinvestments have drained its resources over the last five years, putting it in a pinch and limiting its ability to return capital to investors. Its free cash flow margin averaged negative 537%, meaning it lit $537.41 of cash on fire for every $100 in revenue. As long-term investors, the risk we care about most is the permanent loss of capital, which can happen when a company goes bankrupt or raises money from a disadvantaged position. This is separate from short-term stock price volatility, something we are much less bothered by. Lucid burned through $2.78 billion of cash over the last year. With $3.61 billion of cash on its balance sheet, the company has around 16 months of runway left (assuming its $2.01 billion of debt isn't due right away). Unless the Lucid's fundamentals change quickly, it might find itself in a position where it must raise capital from investors to continue operating. Whether that would be favorable is unclear because dilution is a headwind for shareholder returns. We remain cautious of Lucid until it generates consistent free cash flow or any of its announced financing plans materialize on its balance sheet. Lucid's business quality ultimately falls short of our standards. With its shares topping the market in recent months, the stock trades at $2.55 per share (or a forward price-to-sales ratio of 4.4×). The market typically values companies like Lucid based on their anticipated profits for the next 12 months, but it expects the business to lose money. We also think the upside isn't great compared to the potential downside here - there are more exciting stocks to buy. We'd recommend looking at one of our top software and edge computing picks. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
Business Insider
26-05-2025
- Business
- Business Insider
Lobito Corridor initiative launched with $100M to drive regional growth in Africa
A $1 billion impact development platform, the Lobito Corridor Impact Development Platform (LCID) focused on the Lobito Corridor in Africa has officially launched, with a $100 million joint commitment from businessman, Haim Taib and Angola's Sovereign Wealth Fund (FSDEA). The Lobito Corridor Impact Development Platform (LCID) was launched with a $100 million commitment to enhance U.S.-Africa cooperation. The initiative aims to foster sustainable economic growth through investments in diverse sectors such as agriculture, healthcare, and infrastructure. It targets Angola, the Democratic Republic of Congo, and Zambia to promote regional integration and local value creation. The Lobito Corridor Impact Development Platform (LCID) aims to strengthen U.S.-Africa cooperation through investments in agriculture, infrastructure, healthcare, light industry, education, and digital inclusion—promoting economic growth and regional integration across Angola, the DRC, and Zambia. 'This landmark private initiative will fuel sustainable, inclusive development across Angola, through the DRC, and into Zambia,' said Haim Taib, Founder and President of the Menomadin & Mitrelli Group. Speaking to Business Insider Africa, Taib emphasized the platform's distinction from government-led infrastructure projects: 'This platform differs significantly from the broader Lobito Corridor infrastructure projects. In contrast, the Impact Platform emphasizes private-sector participation and social return, aiming to deliver direct benefits to communities across the region.' While Mitrelli is not directly involved in the fund, Taib said the group remains a strong partner: 'Mitrelli Africa has been in existence for years doing business in Africa... they are a strong partner in this fund.' He also praised collaboration with regional governments: 'Zambia is cooperating very well with us. And also we have some initial interest in DRC... I believe we will bring others, the African investor for this platform, I have no doubt.' Dr. Armando Manuel, Chairman of Angola's Sovereign Fund, said the goal is to improve lives through economic diversification: 'The core idea behind the infrastructure initiative is to create business opportunities, particularly targeting youth and women to ultimately improve living standards.' He added: 'This platform is bringing additional value by completing value chains... bringing all the sectors out of the extractive sector... making the economy more diversified.' The Lobito corridor project The Lobito Corridor project is a major transnational infrastructure and investment initiative designed to connect the Atlantic port of Lobito in Angola to the mineral-rich regions of the Democratic Republic of Congo (DRC) and Zambia. Strategically positioned, the corridor serves as a key gateway to global markets, particularly for exports of critical minerals such as copper and cobalt—materials that are essential for clean energy technologies, electric vehicles, and semiconductors. The Lobito Corridor Impact Development Platform represents a major shift in Africa's development approach—moving from reliance on public and donor-driven projects to private-sector–led investment. By engaging institutional and sovereign partners, it promotes sustainable, commercially viable growth. It also prioritizes inclusive development, targeting job creation for youth and women while driving economic diversification—an urgent need as donor funding declines across the continent. As Dr. Armando Manuel, chairman of Angola's Sovereign Wealth Fund, explained, the project also addresses Africa's over-reliance on imports especially in food and industrial goods by supporting domestic production and completing local value chains. 'This platform is just one example. I mean, a number of our countries are heavily dependent on imports—when we talk, for instance, about food security, I would say food sovereignty. We are heavily dependent on imports." "By implementing platforms like this, you create opportunities to improve the continent, the country. And leveraging the strategy deployed by the sovereign wealth fund, we are not only investing, but trying to fill the gaps we have within the value chains,' he added. The LCID Platform The Lobito Corridor Impact Development Platform (LCID) is a newly launched financial initiative aimed at mobilizing private investment across high-impact sectors, including agriculture, industrial production, pharmaceuticals, telecommunications, and mineral development. Its overarching goal is to foster sustainable and inclusive growth by enhancing local livelihoods, boosting food production, creating employment opportunities, and driving long-term prosperity in Angola, the Democratic Republic of Congo, and Zambia. Structured as an independent investment platform, the LCID seeks to accelerate Africa's next phase of industrial and human development. It invites participation from institutional investors, sovereign partners, and private investors—encouraging them to contribute capital, expertise, and credibility to a shared mission. Project selection will be managed by an independent investment committee through a transparent tender process, ensuring strategic alignment, measurable impact, feasibility, and financial viability.
Yahoo
22-05-2025
- Business
- Yahoo
Why Lucid Group Inc. (LCID) Went Down Today
We recently published a list of . In this article, we are going to take a look at where Lucid Group Inc. (NASDAQ:LCID) stands against other stocks that were sold down today. Ten mid-cap stocks were sold down on Monday, bucking a wider market optimism, amid the lack of catalysts to spark buying appetite, while investors continued to digest the firms' own developments affecting their businesses. The Dow Jones rose by only 0.32 percent, while the S&P 500 and the tech-heavy Nasdaq each inched up by 0.09 percent and 0.02 percent, respectively. Meanwhile, the 10 companies booked losses as high as 5 to 16 percent. In this article, we list the names of the worst-performing stocks and detail the reasons behind their decline. To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume. An engineer examining an electric vehicle design in a lab, showing the company's innovative battery systems. Lucid Group dropped its share prices by 5.63 percent on Monday to close at $2.6899 apiece amid the absence of fresh catalysts to reignite investor enthusiasm. Earlier this month, the company reported that its net loss attributable to shareholders grew by 6.9 percent to $731 million from the $684 million registered in the same period last year. Revenues, however, increased by 36 percent to $235 million from $172 million year-on-year. According to the company, it is on track to ramp up vehicle production to 20,000 units per year, more than double the 9,000 units delivered last year. In the first quarter alone, Lucid Group Inc. (NASDAQ:LCID) delivered 3,109 units, translating to $235 million in sales. 'Lucid Gravity is beginning to arrive in more customers' driveways and at our studios, and combined with our progress toward future initiatives, our company is well-positioned for future success,' said Lucid Group Inc. (NASDAQ:LCID) Interim CEO Marc Winterhoff. Overall, LCID ranks 10th on our list of stocks that were sold down today. While we acknowledge the potential of LCID as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than LCID but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
Why Lucid Group, Inc. (LCID) Skyrocketed Today
We recently published a list of . In this article, we are going to take a look at where Lucid Group, Inc. (NASDAQ:LCID) stands against other stocks that skyrocketed today. Ten companies boasted whopping gains on Tuesday despite a wider market pessimism, as a flurry of corporate developments, including impressive earnings and bullish outlooks, sparked buying appetite. In contrast, Wall Street's main indices all finished in the red territory. The Dow Jones was down by 0.27 percent, the S&P 500 dropped 0.39 percent, and the tech-heavy Nasdaq declined 0.38 percent. In this article, we named the 10 best-performing stocks during the trading session and detailed the reasons behind their gains. To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume. An engineer examining an electric vehicle design in a lab, showing the company's innovative battery systems. Lucid Group saw its share prices jump by 10.45 percent on Tuesday to close at $2.96 apiece, as penny traders appeared to have taken advantage of the previous day's drop to buy shares at a low price. Based on its historical share price data, the company traded sideways amid the lack of catalysts to further propel buying. In recent news, Lucid Group, Inc. (NASDAQ:LCID) reported that its net loss attributable to shareholders grew by 6.9 percent to $731 million from the $684 million registered in the same period last year. Revenues, however, increased by 36 percent to $235 million from $172 million year-on-year. Looking ahead, Lucid Group, Inc. (NASDAQ:LCID) is looking to ramp up vehicle production to 20,000 units per year, more than double the 9,000 units delivered last year. In the first quarter alone, Lucid Group Inc. (NASDAQ:LCID) delivered 3,109 units, translating to $235 million in sales. Overall, LCID ranks 10th on our list of today's best-performing stocks. While we acknowledge the potential of LCID as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LCID and that has 100x upside potential, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
