SACE and Africa Finance Corporation join forces to strengthen the involvement of Italian companies in strategic projects across Africa
SACE, Italy’s Export Credit Agency, wholly owned by the Ministry of Economy and Finance, and Africa Finance Corporation (AFC) have signed an agreement aimed at establishing a cooperation framework to identify opportunities of mutual interest in Africa, strengthen synergies between their respective instruments and facilitate the involvement of Italian companies in the priority sectors of the Mattei Plan for Africa of the Italian Presidency of the Council of Ministers.
The agreement was signed on the occasion of the AFC-Italy Business Forum which brought together representatives of Italian and African institutions, development finance institutions, investors and companies with the aim of promoting concrete partnerships and accelerating the development of strategic projects under the Mattei Plan.
The agreement defines a cooperation framework to identify opportunities of mutual interest in Africa, strengthen synergies between the two institutions’ financial and insurance instruments, and facilitate the involvement of Italian suppliers and EPC contractors in high-potential projects. Cooperation will focus on key sectors for the continent’s development and priority areas under the Mattei Plan, from infrastructure and energy to logistics and trade corridors, industrial development, agribusiness and value chains linked to critical raw materials. It will also include origination activities, the sharing of project pipelines, business matching, knowledge exchange and risk-mitigation solutions in support of bankable projects.
The agreement is part of SACE’s broader commitment to supporting the Mattei Plan for Africa, which identifies economic cooperation, public-private partnerships and the development of sustainable projects as key levers to strengthen relations between Italy and African countries. SACE’s Africa Task Force also forms part of this commitment, with the aim of strengthening support for Italian companies interested in African markets through dedicated tools, channels and specialised teams.
“SACE is the leading Export Credit Agency per new Commitments in Africa, with over 6.4 billion mobilized across the Continent since the launch of the Mattei Plan for Africa. Partnering with AFC is fundamental to unlock the full potential of Italy-Africa trade & investments. Together, we aim to facilitate the participation of Italian companies in the continent's most strategic projects, spanning transport corridors, energy infrastructure, industrial development and critical raw materials value chains. Our agreement creates a framework that allows us to identify opportunities in advance, mobilize capital more effectively and generate stronger synergies between our respective instruments and capabilities”, said Michele Pignotti, Chief Executive Officer of SACE.