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, D.C., USA – 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 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.