Phosphates: Moroccan OCP Group to Set Up Fertilizer Company in Rwanda
The OCP will have a 57.4 pc majority stakes in the company, while Agro Processing Trust Corporation Ltd (APTC) will hold 30 pc and the State of Rwanda 12.6 pc, said the online magazine.
The setting up of this new company, which will manufacture, import and export fertilizers, was decided under one of the cooperation agreements sealed between Morocco and Rwanda during the visit paid by King Mohammed VI to this African country in 2016.
This project will enable OCP, a global market leader of phosphate and its derivatives, to enhance its presence in Africa. In 2016, it has set up OCP Africa dedicated to the development of the agricultural ecosystem in the continent.
The subsidiary pledges to contribute to meeting the challenge of creating structured, efficient and sustainable agriculture in Africa. It also vows to provide agricultural producers with all the resources they need in order to succeed: suitable, affordable products, services and partnerships, logistics and financial solutions.
In 2016, the OCP’s board of directors decided to establish subsidiaries in the countries of Côte d’Ivoire, Senegal, Cameroun, Benin, Democratic Republic of the Congo, Angola, Tanzania, Zambia, Zimbabwe, Mozambique, Ghana and Ethiopia.
Through these companies, the OCP group seeks to enhance partnership with African countries in line with the North African Kingdom’s strategy to boost economic ties and investments in the continent.