First Independent Mena Newspaper
French development agency (AFD) offered a financing of 350 million euros in support of decarbonization efforts led by Morocco’s phosphates and derivatives giant OCP. A deal was signed between the two institutions on May 12, as OCP seeks more funding for its 13 billion-dollar decarbonization plan. OCP had announced a plan to use100% clean energy […]
Morocco’s phosphates and fertilizers producer OCP plans to issue a dual-tranche bond of 5 and 10 years, Reuters reported. OCP has mandated Citi and JP Morgan to arrange the bond sale, the agency reported without adding details. In February last year, OCP completed the issuance of an additional $300 million bond, linked to the group’s […]
OCP Africa, a subsidiary of Morocco’s OCP Group, has signed lately a cooperation agreement with Niger to enable this West African country modernize its agricultural sector and ensure its food security. Under this agreement, supported by the World Bank, OCP Africa will help Niger farmers improve soil health & fertility through carrying out scientific studies […]
The European Bank for Reconstruction and Development has approved a financing of 200 million euros to support the desalination program of Morocco’s phosphates group, OCP. The loan will finance the construction of two OCP seawater desalination facilities, at its key industrial complexes in El Jadida (Jorf Lasfar) and Safi, the bank said in a statement. […]
OCP Africa, an offshoot of the Moroccan fertilizer producer giant OCP, participated in the launch of the Climate Resilient Wheat Value Chain Development Project in Ethiopia. The launch event, held earlier this week, was attended by Ethiopia’s Agriculture Minister, Girma Amente, as well as partners such as the African Development Bank (AfDB), The Netherlands and […]
Morocco’s phosphates and fertilizers giant, OCP Group, said its revenue in 2023 stood at 9 billion dollars, down from $11.4 billion a year earlier. OCP explained the performance by a drop of prices from the exceptional levels of 2022, when the war in Ukraine triggered a surge in commodities prices globally. OCP said a drop […]
Morocco’s phosphates producer has partnered with Moroccan mines and hydrocarbons agency ONHYM in a potash project in Khemisset, 80 km east of Rabat. OCP won two licenses covering 176 square kilometers in the area and the project is already at an advanced stage, Moroccan media reported. Resources are estimated at nearly 350 million tons in […]
The International Finance Corporation (IFC), an offshoot of the World Bank, agreed to lend Morocco’s phosphates and fertilizers giant OCP 100 million euros to fund the building of four solar plants, the two parties said. The agreement was announced during the International Monetary Fund-World Bank Group Spring Meetings in Washington DC. The green loan will […]
‘A revival with fanfare’ is how the latest ranking of the most important 500 African companies drawn up by Jeune Afrique magazine might be best described, with profits amounting to $80,84bn in total. After analyzing the results of more than 1,200 companies, the French-language pan-African weekly news magazine unveiled its exclusive ranking of the 500 […]
Africa holds the key to global food security because it has 60% of the world’s unused arable land, chairman and CEO of Morocco’s OCP Group, Mostafa Terrab, told the Financial Times. The Financial Times pointed out in its Wednesday issue that in the wake of the war in Ukraine and amid fears about the continent’s […]