OCP: $ 100 million to boost African agriculture

With a view to giving a new face to African agriculture, OCP has just secured $ 100 million in financing from the International Finance Corporation (IFC), a member entity of the World Bank.

"It is an association aimed at supporting the efforts of the OCP Group in the consolidation of its value chains in Africa, contributing to the economic development of the continent and promoting the creation of sustainable food systems in the region", reports Today Morocco.

This funding will be used to strengthen the logistics chain of OCP Africa, but also to improve the availability of fertilizers adapted to local soils and crops, in several African countries, such as Côte d'Ivoire, Ethiopia, Ghana, Kenya, Nigeria, Senegal. and Tanzania.

“We are completing a new stage in the pursuit of our common goal: to develop sustainable agriculture in Africa. We aim to empower the continent to fully play its role in terms of global food safety ", underlines Mostafa Terrab, President and CEO of the OCP Group.

Makhtar Diop, IFC Managing Director, highlighted that “this partnership is part of IFC's strategy to promote regional integration through support for the development of a Moroccan champion in sub-Saharan Africa. This will create jobs and encourage technology transfer.

Through this association, small producers will be able to access climate-smart agricultural practices, which will allow them to improve their productivity and, therefore, their livelihoods ”.

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