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SACE AND AFRICAN DEVELOPMENT BANK GROUP TO WORK TOGETHER UNDER THE “MATTEI PLAN”

 1. Home
 2. News
 3. Press Releases
 4. SACE and African Development Bank Group To Work Together Under The “Mattei
    Plan”

05Dec2024

• Collaboration between SACE and the African Development Bank Group to sustain
the development of initiatives with Africa’s public and private sectors, with
additional opportunities for Italian businesses in education, agribusiness,
healthcare, energy, water and infrastructure.

 

SACE, the Italian insurance-financial group specializing in supporting
businesses and the national economic system under the Ministry of Economy and
Finance, and the African Development Bank Group, today signed a collaboration
agreement to provide credit protection to foster investment in Africa, under the
“Mattei Plan”.

The signing took place during the African Investment Forum 2024 Market Days
currently underway in Rabat, Morocco.

The collaboration agreement, signed by Michal Ron, Chief International Business
Officer of SACE, responsible for the Overseas Network and African Development
Bank Vice President for Finance and Chief Financial Officer Hassatou N’Sele, was
conceptualized under the “Mattei Plan” Task Force at the Italian Prime
Minister’s Office.

The $6 billion Mattei plan to bolster economic links and create an energy hub
for Europe, while curbing African emigration to Europe, was unveiled by Italian
Prime Minister Georgia Meloni in February this year. The Italian Government and
the African Development Bank Group have planned a series of joint initiatives to
support the implementation of the Mattei Plan.

This initiative establishes synergies between SACE’s products, such as the Push
Strategy as an untied export credit product, traditional export credit
insurance, and the financial products offered by the African Development Bank
Group. It will support the financing of high impact projects in Africa, while
jointly generating opportunities for business matching between African and
Italian companies.

"Africa represents a market of great potential for our companies, and our
collaboration under the “Mattei Plan” will strengthen their positioning in key
sectors for the continent's development, in line with the purpose of the Mattei
Plan," said Ron. "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, connects African buyers with
Italian SMEs, involving them in strategic projects related to infrastructure,
agribusiness, healthcare, energy, and education: priority sectors where Made in
Italy, with SACE's support, can offer a significant contribution."

It aims to develop commercial relations between Italy and Africa, encouraging
the business of Italian companies interested in operating on the continent in
priority sectors of the Mattei Plan: education and training,
agriculture/agro-industry, healthcare, energy, water, infrastructure, including
digital economy infrastructure.  All African Development Bank regional member
countries will be eligible, although initially priority will be given to the
countries identified in the Mattei Plan: Algeria, the Republic of Congo, Egypt,
Ethiopia, Ivory Coast, Kenya, Morocco, Mozambique, and Tunisia.

Potential African buyers will be invited to participate in Business Matching
events organized by SACE, involving Italian counterparts, to foster
collaboration and strengthen the Italy-Africa partnership.

N’Sele noted: “While there is often a perceived risk in investing in the
continent, the reality is that Africa offers a wealth of opportunities with
actual risk lower than the perception, particularly in key sectors such as
education, agribusiness, healthcare, energy, and infrastructure.” She added:
“The African Development Bank Group is committed to deepening our partnerships
with institutions like SACE to expand financing and de-risking solutions for
critical projects across Africa. Through collaborations like the 'Mattei Plan',
in partnership with SACE, we aim to unlock these opportunities and ensure that
Africa’s vast potential is fully realized."

The Africa Investment Forum is a multi-stakeholder, multi-disciplinary platform
that advances projects to bankable stages, raises capital, and accelerates deals
to financial closure. Its vision is to channel capital towards critical sectors
to achieve the Sustainable Development Goals, the African Development
Bank’s High 5s and the African Union’s Agenda 2063.

About the African Development Bank Group:

The African Development Bank (AfDB) Group is a multilateral development finance
institution whose objective is to contribute to the sustainable economic
development and social progress of the 54 African countries that make up its
Regional Member Countries (RMCs). Headquartered in Abidjan, Côte d'Ivoire, the
AfDB Group comprises three entities: the African Development Bank (AfDB), the
African Development Fund (ADF) and the Nigeria Trust Fund (NTF). Find out more
about the Bank Group at www.afdb.org

About SACE:

SACE is Italy’s Export Credit Agency and insurance & finance group controlled
directly by the Ministry of the Economy and Finance, specialized in supporting
businesses and the national economic system through a wide range of tools and
solutions to support competitiveness in Italy and worldwide. For over 45 years,
the SACE Group has been the reference partner for Italian companies that export
and grow on foreign markets. It also supports the banking system, through its
financial guarantees, to facilitate companies' access to credit, support
liquidity and investments for competitiveness and sustainability as part of the
Italian Green New Deal, starting from the domestic market. The Group is present
worldwide with 14 offices in target countries for Made in Italy which have the
role of building relationships with primary local counterparts and, through
dedicated financial instruments, facilitating business with Italian companies.
With a portfolio of insured operations and guaranteed investments of Euro 260
billion, SACE serves over 55 thousand companies, especially SMEs, supporting
their growth in Italy and in around 200 foreign markets.



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