SACE Partners with African Development Bank Group Under “Mattei Plan” to Boost Africa-Italy Collaboration
SACE, Italy’s insurance-financial group under the Ministry of Economy and Finance, has joined forces with the African Development Bank Group to foster investment and bolster Africa’s public and private sector development under the “Mattei Plan.”
Unveiled in February 2024 by Italian Prime Minister Giorgia Meloni, the $6 billion Mattei Plan aims to strengthen economic ties between Africa and Europe while creating an energy hub and curbing migration.
The agreement, signed at the African Investment Forum 2024 Market Days in Rabat, Morocco, brings together SACE’s financial products, such as the Push Strategy, and the African Development Bank Group’s financing solutions to support projects in key sectors like agribusiness, energy, education, healthcare, and infrastructure.
“This partnership will unlock Africa’s vast potential while generating new opportunities for Italian businesses,” said Hassatou N’Sele, African Development Bank Vice President for Finance.
Michal Ron, SACE’s Chief International Business Officer, added, “With initiatives like the Push Strategy, we aim to connect African buyers with Italian SMEs for transformative projects.”
Priority countries include Algeria, Kenya, Egypt, Ethiopia, and Mozambique, among others. Through business matching events, African buyers and Italian companies will explore collaborative opportunities, further strengthening economic ties between the regions.
This partnership aligns with Africa’s Agenda 2063, the African Development Bank’s High 5s, and the Sustainable Development Goals.
