Africa Finance Corporation and Italian Partners Forge Strategic Agreements to Mobilise Capital and Accelerate Industrial Development Across Africa

Africa Finance Corporation (AFC), the foremost infrastructure solutions provider on the continent, has signed a series of strategic cooperation agreements with prominent Italian partners at the AFC–Italy Business Forum held in Rome. This initiative represents a pivotal advancement in converting Italy–Africa collaboration into actionable projects, scalable financing solutions, and enduring industrial partnerships across Africa.

Forum Highlights and Key Agreements

The forum convened senior representatives from various sectors, including government officials such as Valentino Valentini, Deputy Minister of Enterprises and Made in Italy, and Riccardo Barbieri Hermitte, Director General of the Treasury. The gathering aimed to bolster Africa–Italy cooperation and further the objectives of Italy’s Mattei Plan for Africa. Among the significant outcomes of the forum were agreements with Cassa Depositi e Prestiti (CDP), SACE, Confindustria Assafrica&Mediterraneo, and IMAGRO S.p.A. These agreements aim to establish a framework for enhanced collaboration in infrastructure financing, export credit support, project preparation, industrial procurement, business matchmaking, and private sector participation in AFC-supported projects throughout Africa.

Aligning Objectives with the Mattei Plan

The newly formed partnerships align with the goals of Italy’s Mattei Plan, integrating AFC’s infrastructure development mandate and African project pipeline with Italy’s development finance, export credit instruments, and industrial networks. Together, these institutions will mobilise capital and expedite investment in critical sectors such as power and renewable energy, transport and logistics, critical minerals, natural resources, heavy industry, manufacturing, technology-enabled infrastructure, and regional trade corridors.

The agreements build on an expanding partnership between AFC and Italian institutions. In recent years, CDP has provided facilities amounting to EUR400 million to AFC, including a EUR250 million loan in 2025, backed by an 80% guarantee from SACE. These transactions reinforce confidence in AFC’s capacity to deliver impactful infrastructure projects across the continent, particularly focusing on the Lobito Corridor. The new cooperation frameworks extend this relationship beyond traditional development cooperation into commercially viable infrastructure and industrial projects that promise long-term economic competitiveness and shared prosperity.

Statements from Key Leaders

Samaila Zubairu, President and CEO of AFC, highlighted the forum’s purpose, stating that it was established to move beyond dialogue and create tangible pathways for investment and industrial cooperation between Africa and Italy. He emphasized that the agreements signed demonstrate a commitment to mobilising capital, reducing investment risk, and accelerating industrial development across Africa. Zubairu noted that these collaborations would transform opportunities into bankable projects that enhance value chains, create jobs, and support sustainable economic growth.

Lorenzo Ortona, National Deputy Coordinator of the Mattei Plan, remarked that the Mattei Plan aims to establish an equitable partnership with African countries based on concrete projects and mutual benefits. He expressed gratitude to AFC for its reliability and capability in translating the Plan’s ambitions into real investments that benefit both African economies and the Italian system. Ortona affirmed that the agreements signed would strengthen economic ties between Italy and Africa, fostering investment and shared prosperity.

Co-Financing and Project Development Initiatives

Under the agreement with CDP, AFC and Italy’s development finance institution will explore co-financing opportunities for strategic projects, future funding arrangements, and collaboration with both African and Italian enterprises. This partnership will also focus on identifying and developing bankable projects across priority sectors, including infrastructure, energy, water, environmental protection, natural resources, agriculture, food security, and manufacturing.

Giovanni Gorno Tempini, President of Cassa Depositi e Prestiti, stated that the agreements signify a new phase in the partnership between Italy and Africa. He noted that this collaboration reflects a broader shift introduced by the Mattei Plan towards long-term, mutually beneficial cooperation based on shared priorities and industrial development. Tempini emphasized that renewing the partnership with AFC would enhance their capacity to co-develop projects and connect African and Italian enterprises, ultimately contributing to sustainable growth.

Leveraging Export Credit Support

The cooperation framework with SACE, Italy’s export credit agency, will focus on leveraging guarantees, credit enhancement tools, export credit support, and risk-sharing mechanisms to attract investment and facilitate greater participation by Italian companies in African infrastructure and industrial projects. Michele Pignotti, CEO of SACE, highlighted that SACE is the leading Export Credit Agency for new commitments in Africa, having mobilised over EUR6.4 billion across the continent since the launch of the Mattei Plan. He underscored the importance of partnering with AFC to unlock the full potential of Italy-Africa trade and investments.

Strengthening Italian Presence in Africa

AFC also signed a strategic cooperation agreement with Confindustria Assafrica&Mediterraneo, which supports the internationalisation of Italian companies in Africa, the Middle East, and Turkey. This agreement aims to enhance engagement between African project sponsors and Italian businesses through business missions, investment promotion activities, matchmaking initiatives, conferences, and knowledge-sharing platforms designed to boost private sector participation in AFC projects. Enrico Maria Bagnasco, President of Confindustria Assafrica&Mediterraneo, described the collaboration as an opportunity to strengthen Italian presence in Africa and open new project opportunities.

As AFC continues to expand its network of strategic partnerships with development finance institutions, export credit agencies, and industrial stakeholders globally, the Corporation remains dedicated to mobilising the capital, expertise, and partnerships necessary to build resilient infrastructure, advance industrialisation, and unlock Africa’s long-term economic potential.

Source: www.zawya.com

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Published on 2026-06-17 20:33:00 • By the Editorial Desk