Mali is targeting a first Olympic medal after the country’s under-23 football team qualified for next year’s Games in Paris in dramatic style.

The result secured Mali their second appearance in the Olympic men’s football tournament, having been the only African team to reach the knockout stage at Athens 2004, losing 1-0 after extra time to Italy in the quarter-finals.

A squad including future Liverpool, Juventus and Paris St-Germain midfielder Mohamed Sissoko won admirers on that occasion for a performance described by Fifa’s technical report as “highly creditable”.

But Mali’s newly appointed sports minister believes the country’s current crop of youngsters can go further in Paris, pledging to work with the Malian Football Federation to provide “all the necessary means” to help win a medal.

Issuing a statement of congratulations after Mali recovered from missing their first penalty to win the shootout 4-3, Abdoul Kassim Ibrahim Fomba called their qualification a “historic achievement” and “the pride of the entire nation”.

“[I invite] the entire population to join the squad in a spirit of union and solidarity for the purpose of our country reaching the sporting pinnacle and winning its very first Olympic medal,” he added on behalf of the country’s government.

“This victory is tangible proof that the longed-for vision of a new Mali is on the way to a triumphant reality.”

Goalkeeper Lassine Diarra, of French side LB Chateauroux, saved a spot-kick before Mohamadou Lamine Ba, a midfielder for Tunisian team Olympique Beja, converted decisively.

Mali had lost by the same scoreline on penalties to eventual tournament winners Morocco in the semi-finals, and Fomba described their win against Guinea as “worth a gold medal”.

“The minister of sport was there at 2am to welcome the team, which proves how important this victory is for Malian football,” says Malian sports journalist Baba Cissouma.

“Mali is proud of these youths who will get the best preparation to represent Mali and Africa in Paris. Many of the players in this team carry the high hopes of Malian football.”

Red Star right-back Fode Doucoure, Schalke centre-back Ibrahima Cisse and Red Bull Salzburg midfielder Mamadou Sangare were named in the team of the tournament by organisers the Confederation of African Football.

Shabab Al Ahli Club forward Cheickna Doumbia also impressed, joining Sangare in scoring in each of Mali’s group stage wins over Gabon and Niger.

In midfield, Napoli prospect Coli Saco, Huddersfield Town’s Brahima Diarra and Salzburg youngster Mamady Diambou showed their potential as Mali emerged from the group stage for the first time in their third successive appearance at the finals.

Two of the four African teams involved in the tournament at the 2020 Olympic Games qualified for the quarter-finals, in which Ivory Coast lost to Spain after extra time and Egypt exited 1-0 against Brazil.

Guinea will join Mali, U23 Afcon winners and hosts Morocco, and losing finalists Egypt in Paris if they win a play-off match against an Asian country.