SACE in Egypt: First framework agreement launched with ALEXBANK
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fintech News ME
13 hours ago
- Fintech News ME
Egypt Launches Standardised Reporting Framework for Startups and Investors
Egypt's Micro, Small and Medium Enterprise Development Agency (MSMEDA), backed by World Bank, has collaborated with several venture capital firms and the US-based platform to introduce a standardised portfolio reporting framework for startups and investors across the country. Led by Foundation Ventures, the initiative includes participation from Algebra Ventures, Sawari Ventures, Shorooq Partners, Endure Capital, Camel Ventures, DenVC, LoftyInc Capital, DisrupTech Ventures, and the Climate Resilient Africa Fund. The aim is to establish common metrics, reporting timelines, and formats, addressing the longstanding issue of inconsistent data practices within Egypt's startup ecosystem. Although Egypt's startup scene has expanded significantly in recent years, inconsistent reporting standards remain a key challenge. Startups frequently contend with producing varied reports to meet different investor requirements, while venture capital firms face difficulties in assessing portfolio performance due to the absence of unified benchmarks. The initiative seeks to simplify reporting processes for both general partners (GPs) and portfolio companies through a centralised data platform designed to enhance transparency, reliability, and operational efficiency. 'We are excited about enhancing Egypt's investment attractiveness by providing the necessary transparency to encourage foreign direct investment,' said Mazen Nadim, Managing Partner at Foundation Ventures. Following a competitive selection process, was chosen to develop and operate the platform. The company is working in partnership with Egyptian GPs to tailor the system to local requirements and workflows. The platform is expected to be fully implemented by the end of the second quarter of 2025, with the first comprehensive ecosystem report anticipated by mid-2026. By introducing a unified reporting framework, the effort is expected to ease administrative burdens for startups, provide greater clarity for investors, and strengthen Egypt's position as a destination for regional and international venture capital.
Fintech News ME
15 hours ago
- Fintech News ME
Egypt Founder Leads Limited to $7M Raise for Global Stablecoin Banking Expansion
Limited, a US-based next-generation fintech startup offering stablecoin-based global banking services with self-custody, has secured US$7 million in a seed funding round. The round was led by North Island Ventures, with additional participation from existing backers Third Prime and Arche Capital, as well as new investors Collab+Currency and SevenX Ventures. This brings the company's total funding to US$10 million since its founding in 2024. Founded by Hussein Ahmed, an Egyptian entrepreneur, Limited has developed a banking and payments platform that integrates the security of self-custody stablecoins with the functionality of traditional banking services. Available on iOS, Android, and web, the platform is accessible in 176 countries and enables users, both individuals and businesses, to access global payment systems while retaining full control of their funds via self-custody wallets. The platform also includes tiered Visa and Mastercard offerings and cross-border payment tools that support over 300 local payment methods in more than 80 currencies. 'With stablecoin transaction volumes exceeding $30 trillion annually and global remittance fees averaging 6.3%, we've created a solution that finally resolves the traditional tradeoff between self-custody security and ease of use,' said Ahmed. 'This funding will accelerate our growth in high-opportunity markets across Latin America, Southeast Asia, and the Middle East, where demand for borderless financial services is strongest.' Unlike earlier fintech models that largely built on existing financial infrastructure, Limited offers a platform designed from the ground up, merging usability with enterprise-grade security. The company aims to meet the growing demand for more secure, globally accessible financial tools, especially in emerging markets where traditional banking services may fall short.
Fintech News ME
2 days ago
- Fintech News ME
MENA Startups Raise $289M in May as Egypt Leads Recovery
The startup ecosystem in MENA experienced renewed momentum in May 2025, securing a total of US$289 million across 44 deals. This reflects a 25% increase compared to April and a modest 2% rise year-on-year. Debt financing accounted for only 9% of the total investment, with the bulk of capital directed towards equity deals. Egypt regained its position as the region's leading recipient of funding, largely thanks to Nawy 's notable US$75 million round. According to Wamda, seven other Egyptian startups collectively raised US$50 million, marking activity levels not seen since July of the previous year. The UAE followed with US$86.7 million raised across 14 deals, while Saudi Arabia trailed closely behind with US$69 million from 15 deals. Meanwhile, Kuwait made a rare appearance on the investment radar, with two startups securing a combined US$6 million, positioning the often-overlooked GCC nation in fourth place. AI remained a hot topic in the Gulf, especially following a high-profile visit by US President Trump and prominent Silicon Valley AI executives. The diplomatic event prompted both Saudi Arabia and the UAE to announce major plans to enhance their local AI ecosystems. However, despite the political attention and media excitement, investment in AI startups fell short of expectations. The sector drew only US$25 million across two deals, underscoring the disconnect between the narrative and actual funding activity. Fintech continued to lead in sectoral funding, attracting US$86.5 million through 14 rounds. Proptech followed closely, buoyed by Nawy's large raise, while mediatech companies brought in a total of US$32 million from two deals. Construction technology also made a notable contribution, with WakeCap raising US$28 million. There was a marked absence of late-stage funding activity in May. Just one pre-Series C round was recorded, amounting to US$12 million. Early-stage investments dominated, accounting for US$161 million of the total capital raised. Investor preference continued to lean towards business-to-business (B2B) models. B2B startups attracted US$157 million across 29 deals, while hybrid B2B/B2C companies brought in US$79 million. In contrast, business-to-consumer (B2C) startups received significantly less attention, with nine companies raising a combined US$53 million. The gender gap in startup funding remained pronounced. Startups founded exclusively by men secured 82% of the total capital. Female-founded ventures garnered just 7%, while teams comprising both male and female founders attracted nearly 11%.
