As part of expansion plan to boost fertiliser presence in Nigeria and other parts of Africa, the International Finance Corporation (IFC) has gone into an arrangement with OCP, a phosphate mining and fertiliser group, to finance the group’s presence in the region.
The finance organisation is to support OCP expand its value chain in Africa, as part of its effort to contribute to the economic development of the continent and to set up sustainable food systems in the region. According to the deal, IFC’s $100 million financing will help OCP Africa, a subsidiary of OCP, to expand its logistics networks and increase the availability of fertilisers, adapted to local soils and crops, in Nigeria, Cote d’Ivoire, Ethiopia, Ghana, Kenya, Senegal, and Tanzania. The development infers that Nigerian farmers will be exposed to a wide range of fertilisers as Dangote Group has also commenced sales of fertiliser…
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