Italy is gearing up to invest in Africa, aiming to address both energy requirements for economic growth and the migration issue, according to Eni CEO Claudio Descalzi. Eni, a state-controlled

energy giant and Italy's primary importer of natural gas, responded to reduced Russian supplies last year by increasing shipments from Africa, where it has maintained a presence for decades.

Descalzi highlighted the potential for mutual benefits from stronger ties between Italy and Africa, citing China's multi-decade engagement in Africa to secure oil, gas, and essential resources.

At a political event organized by Prime Minister Georgia Meloni's party in Rome, Descalzi emphasized Italy's readiness to invest in Africa. He stressed the need for Italy to guide the energy flow from south to north, emphasizing the significance for both Italy and Africa.

Meloni's government has outlined plans to position Italy as an energy conduit between Europe and Africa, leveraging neighboring countries' interest in decreasing dependence on Russian energy.

While specifics of the government's diplomatic strategy remain undisclosed, Descalzi hinted at potential initiatives directed at Africa, likely to be announced during Italy's tenure as the rotating presidency of the Group of Seven next year.

Descalzi expressed concerns about prior foreign investments in Africa, which haven't led to self-sustaining development. He underscored the potential for increased migration flows, especially considering Africa's projected population growth to 1.8 billion by 2030.

Eni has recently unveiled a multi-year investment plan exceeding $7 billion in Egypt. Additionally, it has committed to a multi-billion euro investment in Libya and initiated the establishment of agri-hubs in multiple African nations to cultivate seeds for biofuel production. Photo by Marino Paoloni (AGRPress), Wikimedia commons.