Latest news with #SACE
Ya Biladi
a day ago
- Business
- Ya Biladi
OCP and SACE sign €365M green financing deal to boost sustainability in Morocco
The OCP Group and SACE, an Italian insurance and finance group controlled by Italy's Ministry of Economy and Finance, announced on Tuesday the signing of a green financing agreement worth €365 million. This is the first financing secured under OCP's Green Finance Framework and marks the first transaction guaranteed in Morocco as part of SACE's Push Strategy. According to a joint statement, this partnership reinforces OCP's commitment to sustainability and innovation in plant and soil nutrition solutions. The financing, structured as an untied export credit, is backed by comprehensive insurance coverage under SACE's Push Strategy and was arranged by BNP Paribas and Crédit Agricole Corporate and Investment Bank (CACIB). In line with OCP's Green Finance Framework, the funds will support the company's $13 billion green investment program for 2023–2027. This includes a goal to rely 100% on non-conventional water sources by early 2025, reaching a desalination capacity of 560 million m³ per year by 2027, ensuring complete water autonomy. The program also aims to achieve 100% clean energy use by 2027, complete carbon neutrality by 2040 (with Scopes 1 and 2 by 2030, and Scope 3 by 2040), and a significant increase in green fertilizer production to support sustainable agriculture and global food security. Beyond financing, the agreement also opens new business opportunities for OCP Group and Italian suppliers through business matchmaking initiatives organized by SACE. SACE's Push Strategy is designed to support Italian export opportunities in strategic sectors of the Mattei Plan for Africa, such as green technologies, as well as mechanical and hydraulic components. Armando Barucco, Italy's ambassador to Morocco, welcomed the initiative as a boost to economic collaboration, unlocking new opportunities across multiple sectors and consolidating a solid foundation for trade and bilateral investments. Michal Ron, SACE's international director, described the Push Strategy as a key tool for creating new export opportunities, particularly for SMEs. For his part, Karim Lotfi Senhadji, OCP's Chief Financial Officer, emphasized the importance of the partnership in accelerating the transition to 100% clean energy and 100% non-conventional water, with the aim of securing OCP's leadership in sustainable plant nutrition solutions.
Morocco World
2 days ago
- Business
- Morocco World
OCP, Italy's Financial Group SACE Announce €365 Million Green Financing Agreement
Rabat – OCP Group has announced the signing of a €365 million agreement with the Italian export credit agency and finance group, SACE. In a statement today, the Moroccan fertilizer giant said that the agreement is the first of its kind under the group's Green Finance Framework and the first guaranteed by SACE Push Strategy in Morocco. 'This strategic partnership reinforces OCP's commitment to sustainability and innovation in plant nutrition solutions,' the statement added, noting that the deal marks a 'historic dual first.' The OCP facility will be supported by an insurance coverage under SACE's Push Strategy and arranged by BNP Paribas and Credit Agricole Corporate and Investment Bank. The push strategy provides Italian companies with access to international markets, offering them financing to foreign counterparts with the potential to purchase goods and services from Italy. The agreement is in line with OCP's $13 billion Green Investment program covering the 2023-2027 period. The agreement will contribute to financing the program, which seeks to enable a complete non-conventional water use since early 2025, including a desalination capacity of 560 million cubic meters per year by 2027. It also seeks to ensure complete water autonomy as well as 100% clean energy by 2027. The OCP mega program further aspires to ensure full carbon neutrality by 2040 and increased production of green fertilizers. Armando Bucacco, Italian ambassador to Morocco, highlighted the importance of the promising agreement. The deal represents a 'significant step in strengthening ties between Italy's industrial excellence and one of Morocco's leading economic players,' Bucacco noted. He added, 'This strategic partnership not only fosters across multiple sectors, reinforcing a strong foundation for bilateral trade and investment.' Karim Lotfi Senhadji, Chief Financial Officer at OCP, echoed the same remarks. For him, the agreement with SACEE reflects OCP's commitment to sustainability and innovation. 'By securing this facility, we are accelerating our transition towards 100% clean energy and 100% non-conventional water, reinforcing our leadership in sustainable plant nutrition solutions,' he explained. SACE's Chief International Officer, Michal Ron, also expressed satisfaction with the deal. This initiative demonstrates the group's commitment to promote 'made in Italy' and supporting Italian companies in key sectors like infrastructure, renewable energy, and industrial machinery, he argued. 'It also reinforces our commercial ties with Africa in alignment with the Mattei Plan,' he added. For his part, head of CIB Africa at BNP Paribas and CEO of BNP Paribas Regional office in Casablanca Finance City, Abdelmadjid Fassi Fihri, said the landmark transaction with OCP has been a 'great opportunity to leverage the expertise of our Corporate and institutional Banking teams in Casablanca, Milan, and Paris in order to deliver state-of-the-art cross-border structured financing supporting the ambitious sustainable trajectory of the kingdom' Andre Gazal, Global Head of ECA & Multilateral Financing Solutions at Crédit Agricole CIB, echoed similar remarks. Through this agreement, he concluded, 'OCP entrusted us to structure this financing which will serve their strategic capex plans, underlying the strong ties built between OCP and Crédit Agricole CIB over the years.' Tags: Morocco's OCP GroupOCP Africa
IOL News
13-05-2025
- IOL News
Gauteng woman arrested for submitting fraudulent teaching qualifications at SACE headquarters
A woman has been arrested for submitting fraudulent teaching qualifications from UNISA. A Gauteng woman was arrested for allegedly submitting fraudulent teaching qualifications from the University of South Africa (UNISA). The woman was arrested on Tuesday while she was allegedly submitting the fake qualifications at the South African Council for Educators (SACE) head office in Centurion, Tshwane. The council said the woman had been teaching with an alleged fake Unisa qualification and a fake SACE letter. SACE has warned people with fake teaching documents or qualifications to stay away from its offices or schools as measures are in place to arrest them on the spot. "The matter was reported to the South African Police Service (SAPS) and South African Qualifications Authority (SAQA) as it involves a qualification. The council requests all applicants with misrepresented documents to stop submitting them to SACE," said SACE. In another similar matter, a 41-year-old Mpumalanga woman, Ntombelanga Pretty Labane, was arrested for allegedly working as a schoolteacher using fake qualifications and earned over R1.2 million. Allegations are that Labane does not have matric, although she holds a Bachelor of Education (B-ED) degree. She allegedly used a fraudulent matric certificate to apply at the Walter Sisulu University, where she obtained her degree.
Reuters
07-05-2025
- Business
- Reuters
Chile's Codelco signs $500 million insurer-backed credit agreement
SANTIAGO, May 7 (Reuters) - Chile's state-owned miner Codelco ( the world's largest copper producer, said on Wednesday it signed a credit agreement for $500 million through Spanish lender Santander ( opens new tab and with a guarantee from Italian state credit insurance agency SACE.
Cision Canada
05-05-2025
- Business
- Cision Canada
Beko successfully completes €125 million loan from Italian export credit agency SACE
10-year loan strengthens capital structure and supports strategic development Agreement enhances opportunities for Italian supply chain partnerships and economic cooperation ISTANBUL, May 5, 2025 /CNW/ -- Beko, a leading global manufacturer of white goods, has secured a €125 million, 10-year push strategy loan with SACE, Italy's export credit agency and insurance-finance group, fully owned by the Ministry of the Economy and Finance. The agreement was formalized during a signing ceremony in Rome bringing together Fatih Kemal Ebiçlioğlu, Consumer Durables Group President of Koç Holding (the parent group of Beko); Barış Alparslan, Chief Financial Officer at Beko; and Alessandra Ricci, CEO at SACE. Their combined presence reinforced the shared commitment to strengthen economic cooperation. This long-term financing strengthens Beko's capital structure and enhances the company's ability to pursue strategic growth. It also creates opportunity for future procurement from Italian suppliers, strengthening the European supply chain ecosystem and reflecting Beko's commitment to long-term financial partnerships. This operation is part of SACE's Push Strategy Program, which facilitates relationships between strategic foreign buyers and the Italian production system. In this context, Beko has committed to participating in business matching events with Italian companies to explore new commercial opportunities. "This financing agreement with SACE represents an important milestone in Beko's long-term strategy," said Fatih Kemal Ebiçlioğlu, Consumer Durables Group President of Koç Holding. "It creates valuable opportunities for collaboration with other Italian partners and supports our commitment to developing our operational capabilities sustainably and responsibly." Barış Alparslan, Chief Financial Officer of Beko, commented: "This agreement provides important financial flexibility for our operations and reflects the confidence of leading global institutions in our long-term approach." Alessandra Ricci, CEO of SACE: "We are proud to initiate this collaboration with Beko, a globally recognized industrial leader and strategic partner for our production system. This operation is a concrete example of how SACE's Push Strategy can create real opportunities for Italian businesses by promoting innovation and facilitating access to new value chains, in the complex global context." BNP Paribas and Deutsche Bank acted as mandated lead arrangers. ABOUT BEKO Beko is an international home appliance company with a strong global presence, operating through subsidiaries in more than 55 countries with a workforce of over 50,000 employees and production facilities spanning multiple regions—including Europe, Asia, Africa, and the Middle East. Beko has 22 brands owned or used with a limited license (Arçelik, Beko, Whirlpool*, Grundig, Hotpoint, Arctic, Ariston*, Leisure, Indesit, Blomberg, Defy, Dawlance, Hitachi*, Voltas Beko, Singer*, ElektraBregenz, Flavel, Bauknecht, Privileg, Altus, Ignis, Polar). Beko became the largest white goods company in Europe with its market share (based on volumes) and reached a consolidated turnover of 10.6 billion Euros in 2024. Beko's 30 R&D and Design Centers & Offices across the globe are home to over 2,300 researchers and hold more than 3,500 international registered patent applications to date. The company achieved the highest score in the S&P Global Corporate Sustainability Assessment (CSA) in the DHP Household Durables industry for the sixth consecutive year (based on the results dated 22 November 2024) and has been included in the Dow Jones Sustainability Indices for the eighth consecutive year.** Beko's vision is 'Respecting the World, Respected Worldwide.' *Licensee limited to certain jurisdictions. **The data presented belongs to Arçelik A.Ş., a parent company of Beko. ABOUT SACE SACE is the insurance and financial group controlled by the Ministry of Economy and Finance, specializing 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 thousand companies, supporting their growth in Italy with a portfolio of insured operations and guaranteed investments of Euro 270 billion in around 200 foreign markets.
