After the loss of the battle with the American Mosaïc, the Moroccan fertilizer giant, the OCP group wins a loan agreement with Afreximbank for the relaunch of its mega-project in Nigeria.

As part of its mandate to facilitate the development of exports to the continent and promote intra-African trade and investment, the African Export-Import Bank (Afreximbank) has granted Moroccan fertilizer group OCP a loan facility of $350 million over seven years to support its expansion plans in Africa.

OCP is the largest exporter of phosphate fertilizers in the United States, accounting for about 60 percent of imported volumes, according to FitchRatings. Africa contributes 24% of its revenues in 2019. Thus, the mega project in Nigeria consists of a versatile industrial platform using Nigerian gas and Moroccan phosphate to produce 750,000 tons of ammonia and 1 million tons of phosphate fertilizer per year by 2025.