Latest news with #SACE
Time of India
03-07-2025
- Business
- Time of India
Telecom Italia secures 750 mln euro state-backed loan
By Elvira Pollina and Giuseppe Fonte MILAN: Telecom Italia (TIM) is set to receive a 750-million euro ($884 million) syndicated loan backed by Italy's export credit agency SACE, two sources familiar with the matter told Reuters on Thursday. The five-year facility provided by a pool of banks will benefit from a 70% guarantee under SACE's Archimede scheme, the sources said, asking not to be named. It is expected to be finalised as early as this month. The Archimede programme is designed to support Italian companies investing in strategic sectors such as digital transformation and the green transition. It envisages a maximum exposure of 60 billion euros through 2029, of which 10 billion were already taken on by SACE last year, according to the Treasury's multi-year budget plan unveiled in April. Despite the phasing out of the state aid emergency programmes adopted in the wake of the COVID pandemic, Italy helps firms secure funding through several guarantee schemes worth more than 13% of gross domestic product (GDP), the latest government data showed. EU accounting rules state that public guarantees do not drive up the national debt until they are tapped by the banks which benefit. TIM will use the resources to fund ongoing infrastructure upgrades and boost its digital services, in line with national and EU digital goals . Spokespeople for Telecom Italia and SACE declined to comment. TIM, the heir to Italy's former phone monopoly and the country's largest telecoms group, last year sold its prized fixed-line network infrastructure for 18.8 billion euros to a consortium led by U.S fund KKR and including Italy's Treasury. The deal, aimed at slashing the company's debt pile and streamlining its operations, has helped TIM to improve its credit rating, which remains below investment grade territory. State-backed financial conglomerate Poste Italiane has become TIM's single largest investor this year with a 24.8% stake, replacing France's Vivendi.
Reuters
03-07-2025
- Business
- Reuters
Telecom Italia secures 750 mln euro state-backed loan, sources say
MILAN, July 3 (Reuters) - Telecom Italia (TIM) ( opens new tab is set to receive a 750-million euro ($884 million) syndicated loan backed by Italy's export credit agency SACE, two sources familiar with the matter told Reuters on Thursday. The five-year facility provided by a pool of banks will benefit from a 70% guarantee under SACE's Archimede scheme, the sources said, asking not to be named. It is expected to be finalised as early as this month. The Archimede programme is designed to support Italian companies investing in strategic sectors such as digital transformation and the green transition. It envisages a maximum exposure of 60 billion euros through 2029, of which 10 billion were already taken on by SACE last year, according to the Treasury's multi-year budget plan unveiled in April. Despite the phasing out of the state aid emergency programmes adopted in the wake of the COVID pandemic, Italy helps firms secure funding through several guarantee schemes worth more than 13% of gross domestic product (GDP), the latest government data showed. EU accounting rules state that public guarantees do not drive up the national debt until they are tapped by the banks which benefit. TIM will use the resources to fund ongoing infrastructure upgrades and boost its digital services, in line with national and EU digital goals. Spokespeople for Telecom Italia and SACE declined to comment. TIM, the heir to Italy's former phone monopoly and the country's largest telecoms group, last year sold its prized fixed-line network infrastructure for 18.8 billion euros to a consortium led by U.S fund KKR (KKR.N), opens new tab and including Italy's Treasury. The deal, aimed at slashing the company's debt pile and streamlining its operations, has helped TIM to improve its credit rating, which remains below investment grade territory. State-backed financial conglomerate Poste Italiane ( opens new tab has become TIM's single largest investor this year with a 24.8% stake, replacing France's Vivendi ( opens new tab. ($1 = 0.8482 euros)
Zawya
20-06-2025
- Business
- Zawya
Cassa Depositi e Prestiti and SACE provide EUR250 Million to Africa Finance Corporation
Africa Finance Corporation (AFC) ( the continent's leading infrastructure solutions provider, has secured a landmark EUR 250 million 10-year term loan facility from Cassa Depositi e Prestiti (CDP) the Italian Financial Institution for Development Cooperation. The transaction is backed by a guarantee from SACE, the Italian insurance and financial group fully owned by the Italian Ministry of Economy and Finance, covering up to 80% of the facility amount. The financing builds on engagement at the Mattei Plan-Global Gateway summit, attended by Italian Prime Minister Giorgia Meloni, European Commission President Ursula Von der Leyen, CDP, SACE and AFC, where the parties confirmed their intent to collaborate. The facility is structured to cultivate Italian supply chain opportunities in infrastructure and renewable energy generation, including the supply of components for the Lobito Railway Corridor - a commercial railway line that will run through Angola and extend to the borders of Zambia and the Democratic Republic of Congo. This long-term facility deepens AFC's strategic partnership with both CDP and SACE, while reinforcing its mandate to mobilise high-quality, long-tenor capital in support of delivering sustainable infrastructure across Africa. "Cassa Depositi e Prestiti confirms its role as a strategic partner in supporting infrastructure projects with a high social and economic impact in Africa. With this financing - said Dario Scannapieco, Chief Executive Officer of CDP - we are strengthening business and technological relations between Italy and Africa, enhancing talent and innovation. We are convinced that investing in strategic projects not only creates new opportunities for our companies but also helps to build lasting and shared ties capable of fostering growth and well-being for local communities." 'We are proud to contribute to the involvement of Italian companies in the transport and logistics sector to realise a significant strategic project like the Lobito Railway Corridor within the Mattei Plan,' said Alessandra Ricci, CEO of SACE. 'This collaboration reaffirms SACE's commitment to promoting new connections for Italian companies seeking to diversify their exports and embrace new growth opportunities.' ' Our partnership with CDP, further strengthened by SACE's guarantee, exemplifies the power of blended finance in unlocking capital for infrastructure development in Africa,' said Banji Fehintola, Executive Board Member and Head, Financial Services, AFC. ' The Lobito Corridor is a transformational project that will open new trade routes for resources, support regional industrialisation, accelerate job creation and strengthen Africa's position in global value chains, while delivering long-term, inclusive growth. ' Distributed by APO Group on behalf of Africa Finance Corporation (AFC). SACE Media gallery: Media Enquiries: Communications Africa Finance Corporation Email: communications@ SACE Press Office ufficiostampa@ CDP Media Relations Tel: +39 06 42213990 Website: Follow CDP on: LinkedIn: X: Facebook: Instagram: YouTube: About Lobito Corridor Rail Project: The railway line will be approximately 830 km long and will connect Chingola in Zambia to Luacano in Angola with the aim of facilitating the transportation of agricultural products, minerals and consumer goods. The greatest opportunities for the Italian supply chain in the region lie in sectors such as energy, renewables, transportation and logistics. About CDP: Cassa Depositi e Prestiti is the National Promotional Institute which has been supporting the Italian economy since 1850. The main goal of CDP is to accelerate the industrial and infrastructural development of Italy to boost its economic and social growth. CDP focuses its activities on sustainable development at local level, supporting the innovation and growth of Italian enterprises, also in the international arena. It partners local authorities, in a financing and advisory capacity, to create infrastructures and improve services of public value. CDP also participates actively in international cooperation initiatives to realize projects in developing countries and emerging markets. Cassa Depositi e Prestiti is entirely financed by private capital, through the issuing of Postal Savings Bonds and Postal Savings Passbooks, and through issues on national and international financial markets. About SACE: SACE is the insurance and financial group controlled by the Ministry of Economy and Finance, specialising in supporting the growth of Italian companies through a wide range of solutions to facilitate export and innovation, including financial guarantees, factoring, risk management and protection, advisory services and business matching. With a network of 11 offices in Italy and 13 worldwide in target countries for Made in Italy products, SACE serves over 60,000 companies, supporting their growth in Italy and globally, with a portfolio of insured operations and guaranteed investments totalling EU 267 billion across approximately 200 foreign markets. About AFC: AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments 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. Eighteen 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 core infrastructure sectors. AFC has 45 member countries and has invested over US$15 billion since its inception.
Bloomberg
20-06-2025
- Business
- Bloomberg
Italy to Provide €250 Million to Africa Finance for Energy, Rail
Markets By and Ana Monteiro Save Italian institutions will provide as much as €250 million ($288 million) to Africa Finance Corp. to boost the European nation's participation in supply chains related to critical minerals and renewable energy. State lender Cassa Depositi e Prestiti SpA will provide the 10-year loan facility, with Italian export-credit agency SACE covering as much as 80% of the amount, they said in an emailed statement.
The Citizen
14-06-2025
- General
- The Citizen
Local teacher crowned 3rd best Life Skills teacher in KZN
Local teacher at Harpo Primary School, Ayanda Kubheka, had the privilege of attending a South African Council for Educators (SACE) Teacher-Based Research Colloquium. SACE's aim is to regulate and professionalise the profession of teaching. Kubheka was invited to encourage as well as motivate educators as he was crowned third best Life Orientation teacher in KZN. Kubheka shared 'good practices' during the Colloquium, where the attendees included student teachers from Wits and the University of Johannesburg. The feedback was positive and the contributions from the audience were humbling. A number of speakers took the stage, including SACE CEO Ma Ella Mokgalane, Mr Simelane (who is a curriculum specialist from uMgungundlovu District) and others. The presentations focused on the SACE code of professional ethics and standards, the importance of twinning for schools, and the life of students and teachers. Immediately upon return from the Colloquium, Kubheka was once again invited by Zululand District director Mr Ndlovu to attend the District Merit Awards ceremony, where he received a certificate and trophy for being the third most excellent Life Skills educator in the province. Kubheka continues to encourage and inspire educators, especially Life Orientation teachers, to continue believing in the power of knowledge and the subject itself. Kubheka concluded by quoting Martin Luther King Jr: 'A man who has not discovered something to die for, he is not fit to live'. ALSO READ: Sibusiso Thabete's star to rise in Dubai for Best Teacher Award The news provided to you in this link comes to you from the editorial staff of the Vryheid Herald, a sold newspaper distributed in the Vryheid area. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
