Business
AFC secures €250m from Italy’s CDP and SACE to boost infrastructure devt in Africa
Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has secured a landmark €250 million, 10-year term loan facility from Italy’s Cassa Depositi e Prestiti (CDP), with backing from SACE, the Italian export credit agency fully owned by the Ministry of Economy and Finance.
The facility is structured under a development cooperation framework and is 80% guaranteed by SACE.
This financing agreement follows commitments made at the Mattei Plan–Global Gateway Summit, which brought together key stakeholders including Italian Prime Minister Giorgia Meloni, European Commission President Ursula von der Leyen, and representatives from CDP, SACE, and AFC. The deal underscores Italy’s growing role in Africa’s infrastructure development and aims to facilitate Italian private sector participation in major projects across the continent.
The facility will support infrastructure and renewable energy initiatives, including component supply for the Lobito Railway Corridor. This strategic railway project will run through Angola and extend to the borders of Zambia and the Democratic Republic of Congo, enhancing regional connectivity and trade.
The agreement strengthens AFC’s strategic ties with both CDP and SACE and aligns with AFC’s mission to mobilise long-term, sustainable capital for critical infrastructure on the continent.
Dario Scannapieco, CEO of CDP, emphasized the importance of the financing:
“CDP reaffirms its role as a strategic partner in supporting infrastructure projects that have high social and economic impact in Africa. This initiative not only fosters stronger business and technology ties between Italy and Africa but also promotes innovation and talent. Investing in strategic projects creates opportunities for Italian companies while contributing to sustainable growth in local communities.”
Alessandra Ricci, CEO of SACE, added:
“We are proud to support Italian companies’ involvement in key infrastructure like the Lobito Railway Corridor under the Mattei Plan. This collaboration highlights SACE’s commitment to helping Italian firms expand globally and tap into new markets.”
Commenting on the significance of the deal, Banji Fehintola, AFC Executive Board Member and Head of Financial Services, said:
“Our partnership with CDP, further enhanced by SACE’s guarantee, demonstrates the power of blended finance in mobilising capital for Africa’s infrastructure needs. The Lobito Corridor is a transformative project that will unlock trade routes, boost regional industrialisation, create jobs, and reinforce Africa’s role in global value chains, while driving long-term, inclusive growth.”
The facility is expected to unlock further opportunities for collaboration between Africa and Italy, deepening economic ties and enabling sustainable infrastructure across the continent.
