Media Release Milan/Dubai, April 12, 2023

Deutsche Bank and SACE support local food production in Angola

Deutsche Bank (XETRA: DBKGn.DB / NYSE: DB) today announced the closing of a 57 million euro 10-year lending facility to support local food production in the Republic of Angola. Guaranteed by the Italian Export Credit Agency SACE and Banco de Desenvolvimento de Angola (BDA), the facility will fund an export contract between Andreotti Impianti Spa (Italy) and local company Carrinho Empreendimentos SA (Angola) for the supply of a complete and ready to operate, fully automated soybean and sunflower crushing plant.

Located in Lobito, the plant will be the largest of its kind in Africa, with throughput capacity of up to 4,000 tons of soybeans or 2,400 tons of sunflower seeds per day.

Construction of the soybean and sunflower crushing plant will take approximately two years and is expected to create around 300 direct jobs and thousands of indirect jobs related to soybean and sunflower planting.

This transaction is the first Individual Loan Agreement (ILA) finalised under the Framework Export Credit Agreement (FA) signed in May 2019 between Deutsche Bank, BDA and Angola’s Ministry of Finance (MoF) to fund private investment projects in the country. The credit line, arranged by the bank’s Structured Trade & Export Finance (STEF) team for the Government of Angola, aims to finance agriculture, agri-industry, fishing and general industries with the aim to guarantee a greater supply of goods, services and employment, creating new opportunities for the population.

Andreotti Impianti Managing Director Alberto Andreotti said: "We are very proud that Andreotti Impianti is part of one of the most ambitious industrial projects in Sub-Saharan Africa, contributing the export of Italian technology and machinery in an extremely competitive market, where this innovative export finance agreement, arranged by Deutsche Bank and guaranteed by SACE, will help support economic development in Angola.”

Deutsche Bank Global Head of Structured Trade Export Finance Werner Schmidt said: “With Deutsche Bank’s decades of experience of financing development projects in Africa, we are proud to support this project. This production facility supports the local economic transition from reliance on commodities production, to creating higher value-add food processing, thereby reducing food imports and enabling local economic activity to rise up the value-chain.”

SACE Chief Business Officer Bernardo Attolico added: “Made in Italy technology and know-how land once again in Angola with this operation that sees SACE alongside Andreotti and with an established partner like Deutsche Bank. We are one of the most active export credit agencies in Africa and this operation illustrates how SACE successfully supports Italian companies even in very complex projects.”

Patrícia D'Almeida, CEO of BDA, said: “We are very proud of the implementation of thisoperation. This plant is a valuable contribution to Angola's ongoing process economic diversification. We hope that more of this kind of initiative will be implemented.”

For further information, please contact:

Deutsche Bank AG Media Relations

Valerio Mancino

Phone: +39 0240243218
Mobile: +39 3356522130

Mohanad Nahas

Phone: +971(4) 3611-754
Mobile: +971 50 5445 836

SACE Media Relations

Phone: +39 06 6736888

About Deutsche Bank in Africa

Since opening a representative office in Cairo in 1959, Deutsche Bank has strongly contributed to financing the development of infrastructure across the African continent. The bank uses its expertise in structuring and arranging financing to help countries access the traditional global capital markets and other alternative pools of liquidity.
Deutsche Bank has well over 200 staff providing banking services to our clients on the African continent. We have teams situated in our branch in Johannesburg, South Africa and representative offices in Lagos, Nigeria and Cairo, Egypt. In addition, there are a number of coverage bankers and product specialists based in our regional hub for the Middle East & Africa, Dubai and other global hubs including Frankfurt, London and Geneva (amongst others), that provide banking services to clients and individuals domiciled on the continent.
Last year, Deutsche Bank has been named Best Foreign Investment Bank in Angola, Gabon, Ghana and Rwanda at EMEA Finance Magazine’s African Banking Awards in its 2022 cycle. Prior to that, Deutsche Bank was named Best Foreign Investment Bank in Africa for three years in a row for the years 2021, 2020 and 2019 by the same publication.

About SACE

SACE is the Italian financial insurance company specialized in supporting the growth and development of businesses and the national economy through a wide range of tools and solutions to improve competitiveness in Italy and worldwide. For over forty years, SACE has been the partner of reference for Italian companies exporting to and expanding in foreign markets. SACE also cooperates with the banking system, providing financial guarantees to facilitate companies’ access to credit; this role has been reinforced by the extraordinary measures introduced by the so-called Liquidity Decree. With a portfolio of insured transactions and guaranteed investments for 134 billion euros, SACE serves over 23 thousand companies, especially SMEs, supporting their growth in Italy and in around 200 foreign markets, with a diversified range of insurance and financial products and services.

Disclaimers and disclosures

Deutsche Bank AG, Dubai (DIFC) Branch is a branch of Deutsche Bank AG located and registered in the Dubai International Financial Centre (DIFC) in the Emirate of Dubai, United Arab Emirates, with registered no. 00062. Principal place of business in the DIFC: Dubai International Financial Centre, Gate Village, Building 5, PO Box 504902, Dubai, United Arab Emirates. Deutsche Bank AG, Dubai (DIFC) Branch is regulated by the Dubai Financial Services Authority (“DFSA”) and is authorized to provide Financial Services to Professional Clients only, as defined by the DFSA.

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