Home Economy OCP and IBM Invest in MAD 15 Million Moroccan Tech Venture

OCP and IBM Invest in MAD 15 Million Moroccan Tech Venture

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By Neaman Lerhmari
Rabat – Nearly a year ago, the OCP group announced the renewal of its information system and communication network. Morocco’s high-profile and leading phosphate exporter partnered with IBM to invest in an IT company aimed to drive a digital transformation.

The partnership between the Cherifian Office of Phosphate (OCP) and IBM has now resulted in a MAD 15 million joint-venture. The sizeable investment, Teal Technology Services, will drive the digital transformation of the state-owned company as a top priority for the first two years, as well as developing new businesses and extending its clients portfolio.

According to an official press release published by the group, in addition to filling the technological needs of the Cherifian Office of Phosphate, Teal will equip Mohamed VI Polytechnic University’s tech park in Ben Guerir. Beside launching a 1000 m2 data center, the company will pursue a bigger market, seeking to propel Morocco to be the region’s digitalization hub, among an increasing number of strategic partnerships with West African countries.

At this time, IBM is present in 24 countries in Africa, with four client centers, in Morocco, Kenya, Nigeria, and South Africa. The continent has grown to be a substantial market for digitization and computerization services that IBM has provided to governments and their healthcare, banks and telecom sector. Teal, the result of a long-time partnership, is part of IBM’s African strategy to invest in projects of regional significance.

For first year of activity, Teal’s estimated turnover is MAD 555 million, and is expected to exceed MAD 700 million after five years.

In recent years, the group has multiplied its investments and pursued a driving strategy to propel its activities in Africa but also world wide.

By late November, OCP Group‘s third integrated fertilizer production plant, Jorf Fertilizers Company 3 (JFC 3), which required an investment of MAD 5.2 billion, is now fully operational at the Jorf Lasfar industrial platform. The facility is to reinforce the production capacity of the group, which will become in 2018 the world’s largest fertilizer exporter.

Inaugurated in March 2017, the JFC 3 unit reached its nominal production capacity in October. This fertilizer plant has a capacity of 1 million tonnes per year and will significantly increase the group’s overall production capacity, which is set to reach 12 million tonnes per year in 2018 with JFC 4 coming on stream.

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