Morocco's OCP consolidates its position as a key player in Africa
Moroccan phosphate company OCP continues to position itself as a key player in Africa. The company ranks ninth in Jeune Afrique magazine's prestigious ranking of the 500 most influential African companies of the year.
As the magazine points out, OCP is not going through a crisis, unlike other large companies on the continent. Jeune Afrique qualifies that, if the global fertiliser giant saw its turnover fall by 20.3 % in 2023, it is because 2022 "was a record year due to the rise in phosphate prices, following the sharp reduction in Chinese exports and the sanctions imposed on Russia".
In addition to consolidating its position in Africa, OCP aims to become a world leader in the phosphate sector. To this end, the company has presented an investment programme of 130 billion dirhams for the period 2023-2027.
The company's objective is to increase fertiliser production capacity, while committing to achieving carbon neutrality by 2040 thanks to the Kingdom's renewable energy resources and its progress made in this area in recent years.
Furthermore, as Le Matin reports, the group is also investing in research and innovation to diversify its products and services, exploiting new opportunities, particularly in the electric battery market, by tapping into global demand.
This strategy also envisages the opening of new mines, such as one located in Meskala - in the Essaouira region - as well as the establishment of a new fertiliser complex located in Mzinda.
OCP also plans to build a new chemical complex in Laayoune with a capacity of 1 million tonnes by 2025, a move that will not only benefit the company, but will also serve to further boost the economic development of the south of the Kingdom.
OCP is committed to renewable energies
OCP's future plans also include investments in renewable projects. Under the Green Investment Programme, the group secured a EUR 100 million loan from the IFC to finance solar projects and build four solar photovoltaic power plants to power the group's facilities in Morocco.
The facilities, with a total capacity of 202 megawatts, will be built near the mining towns of Benguérir in the Rehamna region and Khouribga, 120 kilometres southeast of the economic capital Casablanca, Moroccan media report. The group's subsidiary, OCP Green Energy, will oversee the implementation of the first phase of this project.