Italian export credit agency SACE and BANK OF AFRICA have signed a partnership to help Italian companies invest and do business across Africa.
Italy’s Ambassador to Morocco Pasquale Salzano, SACE Chief Network Officer Mario Melillo and BANK OF AFRICA Executive Managing Director Khalid Nasr attended the ceremony.
The two organisations will combine SACE’s financing, insurance and risk cover with BANK OF AFRICA’s network across the continent. Their goal is to make it easier for Italian businesses to take part in major projects in Africa.
The partnership will offer financing packages for projects involving Italian suppliers, connect Italian exporters with African companies, and share market research, regulatory information and training.
Energy, infrastructure, agribusiness, water, healthcare and education have been identified as the main sectors for cooperation.
The deal also supports Italy’s Mattei Plan for Africa, a government strategy to strengthen long-term economic ties with African countries.
SACE says it is the most active European export credit agency in Africa for new commitments.
“The extensive presence of BANK OF AFRICA and its knowledge of local markets, combined with our insurance and financing solutions, will allow us to build a concrete portfolio of projects,” said Mario Melillo, Chief Network Officer at SACE. “In line with the Mattei Plan, we aim to build sustainable partnerships that drive shared growth.”
BANK OF AFRICA serves more than 6.6 million customers in 32 countries and will help Italian companies enter African markets.
“BANK OF AFRICA acts as the commercial gateway to the African continent,” said Khalid Nasr, Executive Managing Director at BANK OF AFRICA. “While SACE secures investments coming from Europe, BANK OF AFRICA will ensure their successful execution and long-term viability on the ground.”
SACE is owned by Italy’s Ministry of Economy and Finance. It provides export credit insurance, financial guarantees and advisory services for Italian businesses. The agency manages an insured portfolio worth about €290 billion across 200 markets.
