Leonardo, BF partner up with Italy govt for agricultural projects in Africa

BF SpA

17/01/2025 12:51

ROME, Jan 17 (Reuters) - Italian aerospace company
Leonardo  LDOF.MI  and agro-industrial group BF  BFG.MI  signed
a deal with the government on Friday to provide agricultural
projects to several African countries as part of Rome's
development plan for the continent. 
    The accord is part of the so-called Mattei plan, a group of
initiatives aimed originally at helping economic growth in nine
countries including Morocco, Tunisia, Egypt and Algeria, which
the Italian government hopes will curb immigration flows.
    This month Prime Minister Giorgia Meloni said her government
would extend the four-year plan to Angola, Ghana, Mauritania,
Tanzania and Senegal, bringing the number of countries to 14.  
    Technology provided by Leonardo to monitor from space crops,
soil and water resources, will be paired with BF's agricultural
projects to improve crop yield and tackle problems linked to
climate change, soil erosion and poor resource management.
    Leonardo Chairman Stefano Pontecorvo said the group would
provide digital and satellite technologies through Telespazio, a
joint venture with French peer Thales  TCFP.PA  and its
satellite unit e-Geos.
    He declined to comment on the size of Leonardo's planned
investment. 
    BF's Chief Executive Federico Vecchioni told Reuters it
planned to invest 400 million euros ($412.24 million) over three
years in addition to state-backed loans. 
    "The project aims to give the local populations instruments
to manage in the best way possible their wealth of land, with a
non-colonialist approach, offering locals the instruments and
skills needed," Vecchioni told Reuters.  
    The government's diplomatic adviser Fabrizio Saggio said it
was looking to sign many more agreements with other Italian
companies in key sectors that had been identified with the
African countries involved. 
    ($1 = 0.9703 euros)

 (Reporting by Giulia Segreti, editing by Gavin Jones)
 ((Giulia.Segreti@tr.com; +39.06.80307714;))