As of late 2015, Beijing had diplomatic relations with 51 of the 54 African nations and was the continent’s top trade partner. Since 2000, Chinese imports from the region have grown 20-fold. Indicative of the region’s importance to China, Africa also receives roughly half of China’s total foreign aid.


http://www.globaltimes.cn/content/1155655.shtml
At the Beijing summit of FOCAC in 2018, China pledged to set up a $10 billion development financing fund and encourage Chinese companies to invest no less than $10 billion in Africa over the following three years.
https://www.worldbank.org/en/news/press-release/2019/06/18/success-of-chinas-belt-road-initiative-depends-on-deep-policy-reforms-study-finds
If implemented fully, the initiative could lift 32 million people out of moderate poverty—those who live on less than $3.20 a day, the analysis found. It could boost global trade by up to 6.2 percent, and up to 9.7 percent for corridor economies. Global income could increase by as much 2.9 percent. For low-income corridor economies, foreign direct investment could rise by as much as 7.6 percent. At the same time, the cost of BRI-related infrastructure could outweigh the potential gains for some countries.

Fardella and Prodi warn that, should Italy remain outside the BRI, it could miss trade opportunities. Specifically, Italian ports on the Adriatic Sea could lose business, should the Port of Piraeus become linked to Central Europe via rail – because this would mean that trade bypassed Italy entirely, instead of landing in Italian ports and being transported by Italian railways. Italian ports are already connected by rail to Central and Eastern Europe, so could serve as major hubs for trade coming from China via the Suez Channel.
https://www.euronews.com/2019/03/24/china-and-italy-sign-silk-road-project
Italy's degrading economy could be the number one reason why the European country agreed to signed China's deal. Italy's populist government is anxious to lift the country from its third recession in a decade and saw China's plan as a way of helping its economy.
https://www.telegraph.co.uk/china-watch/politics/italy-joins-belt-and-road-initiative/
Italy’s decision was based on practical economics, as its economy has lagged behind its G7 counterparts, particularly European neighbours Germany, France and the United Kingdom, according to Jon Taylor, a professor of political science at the University of St Thomas in Houston, Texas.