CASABLANCA (MAROCCO) (ITALPRESS) – SACE, the Italian Export Credit Agency participated by the Italian Ministry of Economy and Finance, and Bank of Africa, among the main banking groups of the African continent, signed today in Casablanca a collaboration agreement aimed at developing new financing and investment opportunities in Africa and to promote the involvement of Italian companies and subsidiaries in strategic projects promoted in the continent.
The agreement, signed by Mario Melillo, Chief Network Officer of SACE, and by Khalid Nasr, Director General for Morocco – Corporate & Investment Banking Bank of Africa, will allow to make common competences, tools and intervention skills: on the one hand, the capillary presence of Bank of Africa and its knowledge of local markets; on the other, the insurance, financial and mitigation of the risk made available by SACE.
In particular, SACE and Bank of Africa will cooperate to identify and develop new operations, structure integrated financial solutions and facilitate access to competitive funding for projects that involve Italian suppliers. The agreement will also cover business matching initiatives between Italian companies and African counterparts, promotional and training activities and discussion moments dedicated to knowledge of local markets, with particular attention to energy, infrastructure, agribusiness, water resources, health and education.
The agreement is part of the initiatives promoted by the Mattei Plan for Africa of the Presidency of the Council of Ministers and contributes to strengthening the ability to identify, structure and support the financing of high potential projects in the main African markets, consolidating the economic and industrial partnership between Italy and Africa.
“The signature of this Memorandum confirms the role of Morocco as a strategic partner of Italy for the development of joint projects in Africa. By setting up SACE’s expertise and the capillary presence of Bank of Africa, this agreement will open up new opportunities for Italian companies and will help promote investments capable of generating growth, employment and sustainable development in the continent. It is a concrete example of how the collaboration between Italy and Morocco can be translated into initiatives of mutual benefit, with a strong African projection”, said Pasquale Salzano, Ambassador of Italy in the Kingdom of Morocco.
“This collaboration is an important step to strengthen our ability to accompany Italian companies towards the opportunities offered by African markets,” said Mario Melillo, SACE’s Chief Network Officer. “The capillary presence and knowledge of the local markets of Bank of Africa, combined with our insurance-financial instruments and our ability to create connections between African companies and counterparties, will allow us to identify and develop a concrete pipeline of projects, favoring an increasingly qualified participation of Italian subsidiaries. SACE is today the first Export Credit Agency for new commitments in Africa: a position that confirms the centrality of the continent in our strategy and our commitment, in line with the objectives of the Mattei Plan, to build long-term partnerships capable of generating shared growth between Italy and Africa”.
“Bank of Africa – BMCE Group is a privileged access point to African markets and provides the local operational capacity needed to transform financial opportunities into concrete projects – said Khalid Nasr, Executive General Manager of Bank of Africa – BMCE Group –. Our capillary presence and strong rooting in local economic fabrics allow us to identify solid initiatives, accompany its development and facilitate dialogue with different regulatory contexts. To Italian companies we can offer access to our broad corporate network, secure payment infrastructure on a pan-African scale and tailored local financing solutions. In synergy with SACE, we want to contribute not only to making possible new investments, but also to ensure effective implementation and sustainable growth in the long term in African markets.”.
– SACE press office photos –
(ITALPRESS).
