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Important OCP/ BANK OF AFRICA partnership

OCP is a big Moroccan industrial group, particularly active in the production of fertilizers.

On the side of the World Bank Group and the IMF Annual Meetings, an important agreement was signed between the two groups on October 10, 2023.

It provides for:

  • Facilities for the purchase of fertilizers by OCP customers, with a subsidy mechanism with the OCP to enable BOA to offer attractive rates. This financing is also part of the SME guarantee line with the IFC. The project will start in 2 pilot countries, Senegal and Côte d’Ivoire, with a vocation to duplicate in 10 countries.
  • The financing of agricultural value chains, in partnership with the OCP and the IFC, with a first financing on cashew in Côte d’Ivoire.

This agreement is part of the launch of an OCP-SFI platform involving several players and experts in the agricultural and financial sectors round ecosystems, of which BOA is the first bank to be part.

Through this partnership, BOA aims to make a significant contribution to the development of agricultural value chains and the industrialization of its countries where it operates, and thus increase the share of its loans portfolio dedicated to the agricultural sector.