Leonardo and BF collaborate with the Italian government on agricultural initiatives in Africa

As part of Rome’s development strategy for Africa, the Italian aerospace business Leonardo (LDOF.MI) and the agro-industrial conglomerate BF (BFG.MI) inked an agreement with the government on Friday to supply agricultural projects to a number of African nations.

The agreement is a component of the so-called Mattei plan, a set of measures that the Italian government thinks would reduce migrant flows. The strategy was initially designed to support economic growth in nine countries, including Morocco, Tunisia, Egypt, and Algeria.

The four-year plan will now be extended to 14 nations, including Angola, Ghana, Mauritania, Tanzania, and Senegal, according to Prime Minister Giorgia Meloni’s announcement this month.

In order to increase crop output and address issues related to climate change, soil erosion, and inadequate resource management, BF’s agricultural initiatives will be combined with Leonardo’s technology for monitoring space crops, soil, and water resources.

According to Leonardo Chairman Stefano Pontecorvo, the company would supply digital and satellite technology through its satellite division, e-Geos, and Telespazio, a joint venture with French competitor Thales (TCFP.PA).

Regarding Leonardo’s anticipated investment magnitude, he remained silent.

In addition to state-backed loans, BF intends to invest 400 million euros ($412.24 million) over three years, according to Federico Vecchioni, the company’s chief executive.

Chinese genetic scientist Li Jieping and his colleagues are rushing to create a “super-potato”—one that can withstand higher temperatures—out of concern for climate change.

“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 stated to Reuters.

Fabrizio Saggio, the government’s diplomatic adviser, stated that it hopes to negotiate several additional agreements with other Italian businesses in important industries that have been identified with the participating African nations.

($1 is equivalent to 0.9703 euros).