OCP, AFD sign €350 million deal to boost Morocco’s green transition and support food security in Africa

OCP Group and the French Development Agency (AFD) have signed a €350 million financing agreement to support Morocco’s transition to a low-carbon economy and advance sustainable agriculture across Africa, the companies announced Monday.

The funding is part of OCP Group’s ambitious $13 billion green investment plan for 2023–2027, which aims to transition the Moroccan phosphate giant to 100% clean energy and non-conventional water sources by 2027, and to reach full carbon neutrality by 2040.

The agreement will help OCP scale up its production of low-carbon fertilizers, notably through the integration of green ammonia, while also expanding its capacity to supply African farmers with environmentally friendly fertilizers tailored to local conditions.

“The goal is to enable farmers—particularly in Africa—to boost productivity and contribute to food security, while combating climate change,” the company said in a statement.

The financing will be disbursed based on performance milestones focused on clean energy production, water reuse, green hydrogen and ammonia development, and the integration of climate and biodiversity risks into corporate decision-making.

In a parallel move, OCP and AFD also signed a financing agreement for MAVA (Mobilizing for Agricultural Value Chains in Africa), a new multi-stakeholder platform led by INNOVX. The initiative seeks to support agri-food innovation and entrepreneurship across the continent by strengthening production and distribution systems and creating new financing mechanisms.

OCP, headquartered in Morocco, is the world’s leading producer of phosphate-based fertilizers and reported revenues exceeding $9 billion in 2024. The company employs more than 17,000 people and serves over 350 customers worldwide.

The AFD Group, a French public development bank, operates in more than 160 countries and backs projects aligned with the UN Sustainable Development Goals, focusing on climate, biodiversity, gender equality, and public health.

Through these agreements, both partners reaffirm their shared commitment to sustainable growth, green energy, and inclusive agriculture across Africa.