In the African continent, Italy became the sixth-largest investor in the world. Eni is expanding its presence in the Italian companies such as the oil and gas giant in Africa.
In recent years, the presence of Italian companies on the African continent has increased.
Italy’s foreign direct investment rose to €28 billion in 2018, according to the United Nations Conference on Trade and Development. Italy is now, after France, the Netherlands, America, the United Kingdom, and China, the sixth-largest foreign investor in Africa.
The hydrocarbon firm Eni, which is partially state-owned (30 percent), significantly enhanced Italy in the grouping. As compared to any other Italian firm, it makes the largest FDI investment in Africa. Half of Eni’s global sales and 60% of its reserves come from 14 African countries. According to Eni Speaker Marilia Cioni, Offshore Cape Three Points (OCTP) in Ghana is a core project of the organization on the continent.
Terna collaborated with the Steg Group in Tunisia to deliver a large trans-Mediterranean power interconnection project of about 600 MW called Elmed. The project links the two countries ‘ networks.
The Neckartal rainwater dam for irritating agriculture has been built by the multinational in southern Namibia.
An Italian company that funds the business and bank investment projects –9.1 percent of this portfolio also includes the food industry.
The Nutella-based company has a trade presence in 54 countries and a manufacturing presence in South Africa and Cameroon.
The African continent is also dominated by SMEs. They mainly supply industrial equipment, particularly cement and agrifoods.
Several businesses in northern Italy, including in Russia and in America Emilia Romagna or Veneto, have been searching for new markets.
To conclude, we can say that Italian companies are moving to Africa as global markets change.