€8 million transaction to build local headquarters and buy vehicles and equipment
Cassa Depositi e Prestiti continues in its commitment to the African continent with a new transaction in Senegal, signed as part of the “Attanasio Initiative”, the economic and trade promotion programme for Italian companies in sub-Saharan Africa promoted by the Ministry of Foreign Affairs and International Cooperation (MAECI) in memory of the Italian Ambassador to the Democratic Republic of Congo who tragically passed away in February 2021.
The transaction finalised by CDP aims to support the growth in Senegal of Germani Spa, a company based in San Zeno Naviglio (Brescia), active for about 60 years in the domestic market for the transport of liquid and solid chemicals by road.
The transaction sees CDP granting an €8 million loan to the Brescia-based transport group's subsidiary, Germani West Africa, to set up the company's headquarters in Senegal (including a training academy for local staff) and the purchase of vehicles and equipment.
In particular, the local subsidiary Germani West Africa will invest in carrying out road transport work for third parties, focussed on the development of public and private infrastructure works (bridges, ports, roads, motorways and railways), as well as the supply of fuel and cryogenics for the Senegalese market.