Africa Finance Corporation (AFC) and Cassa Depositi e Prestiti S.p.A (CDP)
Agree New Alliance to Strengthen African-Italian Investment Collaboration

EQS-News: Africa Finance Corporation (AFC) / Key word(s): Alliance
Africa Finance Corporation (AFC) and Cassa Depositi e Prestiti S.p.A (CDP)
Agree New Alliance to Strengthen African-Italian Investment Collaboration

10.05.2024 / 15:40 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Africa Finance Corporation (AFC) and Cassa Depositi e Prestiti S.p.A (CDP)
Agree New Alliance to Strengthen African-Italian Investment Collaboration

Africa Finance Corporation (AFC) ( www.AfricAFC.org), Africa's leading
infrastructure solutions provider, in partnership with Italy's national
development finance institution Cassa Depositi e Prestiti S.p.A (CDP)
yesterday announced a landmark Memorandum of Understanding (MoU) that sets
out to elevate Italian-African business collaboration, contributing to
sustainable growth and prosperity on a global scale.

AFC and CDP signed their commitment yesterday at the Italy-Africa Business
Dialogue Forum in Rome. The strategic alliance endeavours to bolster African
infrastructure, harness natural resources, and propel industrial development
through shared expertise and enhanced financial cooperation, while fostering
the internationalisation of Italian businesses and expanding their global
footprint.

The two institutions will work together to identify and engage in future
partnerships and co-financing opportunities in development and
infrastructure projects with governments, companies and financial entities.
The institutions will create a shared platform to foster dialogue between
Italian and African companies in AFC's member countries.

Samaila Zubairu, President & Chief Executive Officer of AFC, said: "This
strategic MoU with CDP marks a pivotal step in expanding our impact
throughout Africa by utilising our extensive connections to international
capital and expertise. By combining our resources and networks, we are
poised to expand our record of transformative projects to catalyse
sustainable development and economic advancement across the region."

Paolo Lombardo, International Development Cooperation Director at CDP, said:
"This agreement is key for both institutions and crucial to foster synergies
in the broader global development arena. Partnering with AFC, with its
unique track record of transformational infrastructure, enhances support for
companies and investors striving for Africa-focused growth and economic
integration."

Building on a robust partnership that started with a significant EUR 100
million loan agreement in 2022 to fuel renewable energy and
climate-resilient projects and continued with a EUR 50 million loan
announced at COP28 for further sustainable development projects, this MOU
reinforces these financial engagements and expands the scope of cooperation
through new initiatives that promise to enhance Africa's economic and
environmental landscape.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

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Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile : +234 1 279 9654
Email : yewande.thorpe@africafc.org

About AFC:

AFC was established in 2007 to be the 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 risk capital to address Africa's
infrastructure development needs and drive sustainable economic growth.

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

www.AfricAFC.org

About CDP:
CDP is the Italian National Promotional Institution and the Financial
Institution for International Development Cooperation entrusted by the
Italian State to foster the sustainable development of Italy and of
developing countries and emerging markets. CDP supports economic growth,
social inclusiveness and ecological transition by investing in innovation,
business competitiveness, infrastructures and local development, having
allowed in 2023 the activation of investments worth a total of 20,1 billion
euros (1.4% of Italy's GDP), of which 83% dedicate to sustainable project,
also thanks to the attraction of resources from third-party investors and
co-financiers.


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