partnership<\/a> sets out to support the participation of Italian companies and their supply chains in strategic projects throughout Africa. It pairs Bank of Africa\u2019s regional presence and knowledge of local markets with SACE\u2019s insurance, financing, and risk-coverage solutions.<\/p>\nThe two institutions will work to identify new operations, structure integrated financial solutions, and open access to competitive financing for projects involving Italian suppliers. The accord also covers business matching, promotion, training, and the sharing of market knowledge, with priority given to energy, infrastructure, agrifood, water resources, health, and education.<\/p>\n
The initiative falls under the Mattei Plan for Africa, promoted by the Italian Presidency of the Council of Ministers.<\/p>\n
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Mario Melillo, SACE\u2019s Chief Network Officer, characterized the partnership as \u201can important step\u201d in strengthening the agency\u2019s capacity to help Italian firms reach African markets. He described SACE as the export credit agency \u201cmost engaged\u201d in Africa in terms of new commitments, a position he tied to the continent\u2019s central role in the agency\u2019s strategy.<\/p>\n
Khalid Nasr, executive managing director for Morocco and corporate and investment banking at Bank of Africa, framed the bank as the \u201ccommercial gateway\u201d to the continent, providing the \u201clocal execution capacity\u201d needed to turn financial arrangements into concrete results. SACE, in his account, secures investments from Europe, while Bank of Africa ensures \u201ctheir successful implementation and long-term viability in African markets.\u201d<\/p>\n
Pasquale Salzano, Italy\u2019s ambassador to Morocco, attended the ceremony alongside the two executives and the group\u2019s corporate and international teams. On social media, he called the agreement \u201can important step forward\u201d in economic cooperation between Italy, Morocco, and Africa, and pointed to Morocco\u2019s role as a \u201cstrategic partner\u201d and a privileged platform for Italian companies expanding toward the continent.<\/p>\n
SACE holds a portfolio of insured operations and guaranteed investments of around \u20ac290 billion, covering 200 markets through 23 offices in Italy and abroad. Bank of Africa operates in 32 countries across Africa, Europe, Asia, and North America, with nearly 2,000 points of sale serving 6.6 million clients.<\/p>\n
The agreement follows another cross-border move this week. Bank of Africa arranged<\/a> a $300 million international syndicated loan to finance a 160-kilometer road in northern Guinea, a transaction the group presented as Guinea\u2019s first entry into both the international syndicated loan market and the Islamic finance market. The signing took place Wednesday in Conakry.<\/p>\n","protected":false},"excerpt":{"rendered":"Marrakech \u2013 Bank of Africa and SACE, the Italian export credit agency owned by Italy\u2019s Ministry of Economy…\n","protected":false},"author":2,"featured_media":35287,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[23763,5,23265],"class_list":["post-35286","post","type-post","status-publish","format-standard","has-post-thumbnail","category-italy","tag-bank-of-africa","tag-italy","tag-morocco-and-italy"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/italy\/wp-json\/wp\/v2\/posts\/35286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/italy\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/italy\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/italy\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/italy\/wp-json\/wp\/v2\/comments?post=35286"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/italy\/wp-json\/wp\/v2\/posts\/35286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/italy\/wp-json\/wp\/v2\/media\/35287"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/italy\/wp-json\/wp\/v2\/media?parent=35286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/italy\/wp-json\/wp\/v2\/categories?post=35286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/italy\/wp-json\/wp\/v2\/tags?post=35286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}