CDP participates in the Italy-Kenya Business Forum in Rome: a financing agreement of 30 million euro and an MoU were signed with Equity Bank Kenya to support micro, small and medium enterprises in the agricultural sector
Cassa Depositi e Prestiti participated in the Italy-Kenya Business Forum held in Rome on 20 April during the official visit of the President of the Republic of Kenya, William Ruto. Organised by the Ministry of Foreign Affairs and International Cooperation and by ICE Agency, in collaboration with Kenyan authorities, the event brought together institutions and representatives from the entrepreneurial sectors of both countries with the aim of increasing the presence of the Italian industrial system in Kenya, strengthening bilateral economic cooperation and promoting new partnerships among enterprises within the context of the Mattei Plan for Africa.
The CDP delegation was led by Dario Scannapieco, CEO of Cassa Depositi e Prestiti, confirming the role of the financial institution in favour of the international expansion of Italian enterprises and the development of structured, long-term economic relations with African countries.
During the day, a meeting took place between the CEO of CDP and James Mwangi, CEO of Equity Bank, the leading private commercial bank in Kenya headquartered in Nairobi, during which a loan of 30 million euro was signed by Cassa Depositi e Prestiti for Equity Bank to expand the credit portfolio of the Kenyan bank to support micro, small and medium enterprises, particularly in the agricultural sector. The operation falls within the scope of the Transforming and Empowering Resilient and Responsible Agribusiness ("TERRA") programme promoted by CDP and the European Union with technical support from FAO, which aims to accelerate the transition towards sustainable agri-food systems.
During that same event, a Memorandum of Understanding (MoU) was signed between Cassa Depositi e Prestiti and Equity Bank to promote business initiatives between Italian and Kenyan companies, including through business matching, aiming to boost bilateral economic and trade relations between the two countries in strategic sectors.