Eni invests €8B in 16 African countries

CAIRO – 17 July 2017: Eni, the Italian mega company, is favoring investments in the African continent, with a total exceeding €8 billion in 16 countries, CEO Claudio Descalzi said Sunday.

In an interview with the Italian La Stampa Mondo newspaper, Eni’s CEO added that “African companies need a qualitative shift in their investments.”

Companies should not focus on immediate profit, but on the long-term one, Descalzi said, adding that Africa is the fastest growing continent and Europe has to reach a joint vision to help itself through supporting Africa.

Descalzi pointed to Eni’s process of reducing profits and increasing products’ value by exporting a part of the gas output and keeping another for its country as an investment for stability.