The new solution is part of the Push Strategy Program, through which SACE has organized 3,200 matchmaking meetings in 2024 to integrate Italian companies into global supply chains
Rome/Cairo – SACE has launched its Framework Agreement with ALEXBANK, a new solution within the Push Strategy program aimed at increasing Italian exports and strengthen the positioning of Italian companies in Africa.
ALEXBANK is part of the Intesa Sanpaolo Group, within the International Banks Division led by Paola Papanicolaou.
Through this initiative, the Italian financial and insurance group is ready to issue guarantees up to €200 million in loans provided by ALEXBANK, to small and medium-sized Egyptian buyers active in key sectors who have shown interest in increasing their procurement from Italy.
This represents a step forward in the evolution of the innovative Push Strategy model, which allows SACE to expand its reach – providing guarantees not only to large foreign corporates which previously had access to the instrument, but also to smaller enterprises – with the goal of creating even more export opportunities for Italian companies and fostering new connections in strategic markets such as Egypt.
“With the Framework Agreement, we aim, in synergy with ALEXBANK, to create new connections and opportunities in Egypt, helping Italian companies diversify their target export markets and strengthen their position in the African continent,” said Massimo Schirò, Head of Africa, Turkey, Middle East & Europe of SACE. “Today we start with Egypt, but we are developing the same operations in other strategic countries.”
“The SACE framework agreement with ALEXBANK marks a transformative moment in the economic relations between Egypt and Italy,” stated Paolo Vivona, CEO of ALEXBANK. “As Egypt’s economy continues to diversify and modernize, access to high-quality Italian technology, machinery, and expertise becomes increasingly strategic. Through this €200 million guarantee program with SACE, we’re not simply facilitating transactions—we’re building lasting industrial partnerships that will generate sustainable growth for both nations. ALEXBANK is proud to serve as the financial catalyst for this new chapter in our countries shared economic journey.”
ALEXBANK
ALEXBANK is one of Egypt’s leading private sector banks established in 1957 and participated by the Intesa Sanpaolo Group since 2007. ALEXBANK owns one of the largest private sector branch networks with a total of 173 branches located in every major Egyptian governorate employing over 4,300 individuals who proudly serve more than 1.9 million customers. ALEXBANK actively serves the widest spectrum of segments by providing value added financial products, services and solutions to Retail, Small Business, Medium and Corporate Enterprises.
ALEXBANK is currently in the midst of a radical digital transformation aimed at providing our customers with the most unique of banking experiences, via our seamless multi-channel experience incorporating Internet & Mobile Banking, Cards, Electronic wallets, and the latest generation of point-of-sale & ATMs, all powered through the power of Big Data and empowered by key players in the Fintech ecosystem.
Intesa Sanpaolo
Intesa Sanpaolo, with over 422 billion euros in loans and 1,350 billion euros in customer financial assets at the end of June 2024, is the largest banking group in Italy with a significant international presence. It is a European leader in wealth management, with a strong focus on the digital and fintech sectors. In the area of ESG, it has planned 115 billion euros of Impact funding by 2025, for the community and the green transition. The programme for and in support of people in difficulty amounts to 1.5 billion euros (2023-2027). The Bank’s Museum network, the Gallerie d ‘Italia, is the exhibition venue for its artistic heritage and cultural projects of recognised value.
