(3 minutes read)
· The African Export-Import Bank (Afreximbank) signed a US$350 million loan facility deal with Morocco’s fertilizer group OCP for financing its expansion plans
· The term loan, which is being offered is for a period of seven years and can meet OCP’s expansion plans tailored to meet the needs of the African farmers
· OCP is in partnerships with like-minded organizations to create a more sustainable future, and transform agriculture around the world
· In total it has partnerships with 30 entities and each partnership adds value to its functioning.
The African Export-Import Bank (Afreximbank) signed a US$350 million loan facility deal with Morocco’s fertilizer group OCP for financing its expansion plans. The term loan, which is being offered is for a period of seven years and can meet OCP’s expansion plans tailored to meet the needs of the African farmers.
President of Afrieximbank Benedict Oramah was present at the signing ceremony and he referred to the deal as one which could address the development of the agricultural sector in the continent since the products of OCP were tailored to meet the requirements of the farmers including the ability of the farmers to compete in the international markets.
OCP is in partnerships with like-minded organizations to create a more sustainable future, and transform agriculture around the world. In total it has partnerships with 30 entities and each partnership adds value to its functioning. Some of the partners include DuPont to develop new safety technologies to keep the corporation at the forefront of industrial excellence. Under Teal Technology Services – a joint venture between IBM and OCP – the company is engaged in digital transformation of business operations in Morocco and beyond. The joint venture focuses on advanced technologies such as analytics and cognitive computing.
