Bank of Africa and Italian export credit agency SACE have signed a cooperation agreement in Casablanca to develop financing and investment opportunities across Africa. The arrangement is intended to help Italian companies and their suppliers participate in major projects on the continent. It combines Bank of Africa’s regional operations and local market knowledge with SACE’s insurance, financing and risk-cover services.

Under the agreement, the two institutions will identify suitable ventures and prepare financial packages for projects that use Italian suppliers. Their work will cover business matching, training, market information and promotional activity, alongside access to competitive funding. Priority sectors include energy, infrastructure, food and agriculture, water, health and education.

SACE Chief Network Officer Mario Melillo said the deal would expand support for Italian businesses entering African markets. Khalid Nasr, Bank of Africa’s executive managing director for Morocco and corporate and investment banking, said the bank would provide the local capacity needed to put financed projects into operation and sustain them over time. Italy’s ambassador to Morocco, Pasquale Salzano, attended the signing with senior representatives from both organisations.

The partners bring broad international networks to the agreement. SACE reports an insured and guaranteed portfolio of about €290 billion across 200 markets, supported by 23 offices in Italy and abroad. Bank of Africa operates in 32 countries across four continents and serves 6.6 million customers through nearly 2,000 service points.

The agreement follows another regional financing transaction led by Bank of Africa: a $300 million syndicated loan for a 160-kilometre road in northern Guinea. Together, the initiatives show how cross-border finance can support projects in essential services and productive sectors across African economies.