The OCP group, a Moroccan fertilizer giant, has just received a loan of $ 100 million from the International Finance Corporation (IFC) for the pursuit of its development on the African continent, in particular in Côte d’Ivoire, Ethiopia, Ghana, Kenya, Nigeria, Senegal, and Tanzania. These funds will also be used to develop new support programs for local farmers.
This financing is accompanied by the first loan facility in the amount of $ 350 million granted last March from the African Import-Export Bank, Afreximbank, also to support the expansion of the Moroccan group in Africa.
In a context marked by the Covid-19 pandemic, the OCP achieved in 2020, a turnover up by 3.9% compared to 2019 to 56.182 billion dirhams, of which 21% are generated by the ‘Africa, the group’s second customer after Latin America (27%) on par with Europe (also 21%). However, export sales of fertilizers to Africa fell to 5.294 billion dirhams against 5.9 billion in 2019.