Investment: AFC and CDP strengthen Afro-Italian partnership


The strategic alliance aims to strengthen Africa’s infrastructure, harness natural resources and support industrial development through shared expertise and enhanced financial cooperation

Africa Finance Corporation (AFC), a leading provider of infrastructure solutions in Africa, in partnership with Italy’s national development finance institution, Cassa Depositi e Prestiti SpA (CDP), announced on May 8 a Memorandum of Understanding (a historic memorandum of understanding) aimed at strengthening Italy -African business partnership, thereby contributing to sustainable growth and prosperity worldwide.

Partnerships and co-financing possibilities

Both institutions will work together to identify and engage in future partnerships and opportunities to co-finance development and infrastructure projects with governments, businesses and financial entities.  The institution will create a common platform to promote dialogue between Italian and African businesses in AFC member countries.

Rome May 8. Ceremonial signing of Memorandum of Understanding between AFC and CDP

AFC and CDP signed their commitment yesterday at the Italy-Africa Business Dialogue Forum in Rome. The strategic alliance aims to strengthen African infrastructure, exploit natural resources and promote industrial development through shared expertise and enhanced financial cooperation, while supporting the internationalization of Italian companies and expanding their global footprint.

Both institutions will work together to identify and engage in future partnerships and opportunities to co-finance development and infrastructure projects with governments, businesses and financial entities. The institution will create a common platform to promote dialogue between Italian and African businesses in AFC member countries.

“This strategic MoU with CDP represents a major step in expanding our influence across Africa, leveraging our many connections with international capital and expertise. By combining our resources and networks, we are poised to expand on our track record of transformative projects aimed at accelerating sustainable development and economic progress in the region,” says Samaila Zubairu, CEO of AFC. And Paolo Lombardo, CDP’s director of international development cooperation, added: “This agreement is fundamental for both institutions and essential to promote synergies in the wider field of global development. The partnership with AFC, with its unique expertise in transformational infrastructure, strengthens support for businesses and investors seeking Africa-focused growth and economic integration. »

Building on a strong partnership that began in 2022 with a major loan of €100 million for renewable energy and climate-resilient projects and continued with a €50 million loan announced at COP28 for other sustainable development projects, this MoU strengthens these financial commitments and expands the scope of cooperation through new initiatives that promise to improve Africa’s economic and environmental landscape.

Africa Finance Corporation

AFC was established in 2007 as a catalyst for private sector-led infrastructure investment across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development and venture capital to meet Africa’s infrastructure development needs and support sustainable economic growth.

Seventeen years later, AFC has built a solid track record as the partner of choice in Africa investing in and delivering high-quality, instrumental infrastructure assets that provide essential services in the core infrastructure sectors of energy, natural resources, heavy industry, transport and telecommunications. . The AFC has 43 member countries and has invested US$13 billion in Africa since its inception.

Cassa Depositi and Prestiti SpA

CDP is Italy’s national promotion institution. It is also a financial institution for international cooperation entrusted by the Italian state to support the sustainable development of Italy, developing countries and emerging markets. The CDP promotes economic growth, social inclusion and ecological transformation by investing in innovation, business competitiveness, infrastructure and local development and has enabled the activation of investments totaling €20.1 billion (1.4% of Italian GDP) in 2023, of which 83% are dedicated to sustainable projects, also thanks to the attraction of resources from third-party investors and co-financiers.





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