Lobito Corridor to triple Zambia’s GDP – ZDA

ZAMBIA’s Gross Domestic Product (GDP) is expected to triple with the operationalisation of the Lobito Corridor, the Zambia Development Agency (ZDA) has projected.
Albert Halwampa, the ZDA director general has highlighted its transformative role in expanding the country’s trade reach and unlocking previously inaccessible markets.
Mr Halwampa said the Lobito Corridor, which links Zambia, the Democratic Republic of Congo (DRC), and Angola to the Atlantic Ocean, would enhance trade access to American and European markets.
He said in the immediate term, the corridor was poised to significantly boost Zambia’s regional trade.
“The immediate benefits for Zambia are significant. This corridor is a game changer for our economy,” Mr Halwampa said.
He revealed that while 30 percent of Zambia’s non-traditional exports currently go to the DRC, only 25 million of the DRC’s 100 million population was accessible to Zambia.
Mr Halwampa said the Lobito Corridor, however, will open access to the northern region of the DRC, home to 75 million people, potentially tripling Zambia’s market share there.
He said Zambia currently supplies goods worth $3 billion to the DRC annually and with the corridor, the country will be able to supply the entire DRC market, significantly enhancing trade volumes.
Mr Halwampa added that the corridor creates a direct link to Angola, a market with an annual food import bill of $6 billion.
He emphasised that Angola’s proximity and demand present another lucrative opportunity for Zambian businesses.
Mr Halwampa said with a combined market of 170 million consumers across the DRC and Angola, Zambian small-scale enterprises should prepare for the economic opportunities the corridor will bring.