Sace, the insurance-financial group under the control of the Ministry of Economy and Finance, has signed a agreement with the African Development Bank Group for promote investment in the African continent. The agreement, signed by Michael Ron, Chief International Officer of Sace, and Hassatou N'Sele, Vice President for Finance and Chief Financial Officer of the African Development Bank, was facilitated by Mission Structure Piano Mattei at the Presidency of the Council of Ministers.
The initiative falls within the ambit of the strategic partnership between the Italian Government and the African Development Bank Group, aimed at supporting the projects of the Mattei plan, the program designed to promote the economic cooperation and sustainable development in Africa.
Mattei Plan: Objectives and Key Sectors
The Mattei Plan represents a pillar of Italian economic policy towards Africa, placing emphasis on synergies between Sace instruments, such as the Push Strategy and financial support for exports, and the financial products of the African Development Bank. The aim is the involvement of Italian companies in projects that have a positive impact on the continent's strategic sectors.
Among the priority areas include:
- Education and training, to improve access to skills.
- Agriculture and agro-industry, to enhance food security.
- Health, to strengthen health infrastructure.
- Energy and water, to promote access to essential resources.
- Traditional and digital infrastructures, to promote technological development.
I priority countries for the Plan include Algeria, Republic of Congo, Egypt, Ethiopia, Ivory Coast, Kenya, Morocco, Mozambique and Tunisia.
The agreement also includes business matching events
THEagreement provides furthermore the organization of Business Matching Events, which will allow the Italian and African companies to get in touch and collaborate on concrete projects. These events aim to create synergies between companies on the two continents, promoting the transfer of know-how and resources.
To ensure the success of the initiative, they will be periodic coordination meetings activated and the development of new projects. The collaborative approach aims to transform Africa into a fertile ground for Italian investments, consolidating trade relations and strengthening Italy's role as a trusted partner on the continent.
“Africa represents a market with great potential for our companies and the “Mattei Plan Compact” will allow us to strengthen their positioning in key sectors for the development of the Continent, in line with the purpose of the Mattei Plan – he declared Michael Ron, Chief International Officer of Sace – In particular, we are already identifying new business opportunities where Sace can make a difference thanks to the Push Strategy, a financial instrument that, through guarantees, is able to Connecting African buyers with Italian SMEs involving them in strategic projects related to infrastructure, agribusiness, healthcare, energy and education: priority sectors in which Made in Italy, with the support of Sace, can offer a fundamental contribution”.
“Although there is often a perception of risk in investing in the continent, the reality is that Africa offers a multitude of opportunities with lower actual risk than perceived, especially in key sectors such as education, agribusiness, health, energy and infrastructure. The African Development Bank Group is committed to deepening partnership with institutions such as Sace to expand financing and risk reduction solutions for critical projects across Africa. Through partnerships such as the 'Mattei plan', in partnership with Sace, we aim to unlock these opportunities and ensure that Africa's vast potential is fully realized,” he said Hassatou N'Sele, Vice President for Finance and Chief Financial Officer ofAfrican Development Bank Group.
