Denver – Morocco’s significant commitment to African development was once again showcased this week during an investment forum held in the capital of Ethiopia on Friday.
Investors gathered at a meeting in Addis Ababa under the Ethiopian Investment Commission to discuss future avenues of economic investment in the eastern African country.
Of the countries present at the event, Morocco’s investment experience was showcased as an example of the potential for companies in Ethiopia. Morocco was the first country invited to the investment commission, according to the country ambassador to Ethiopia and Djibouti, Nezha Alaoui M’Hammdi.
“We have the privilege of being the first country invited to a series of consultations and interaction between foreign investors and the competent Ethiopian authorities through the creation of this platform,” M’Hammdi stated. The ambassador was responsible for showcasing Morocco’s extensive investment projects.
Among the projects the country presented at the Addis Ababa meeting, M’Hammdi noted the OCP group’s plan to build a fertilizer factory in the country worth $3.7 billion. The project, initiated during King Mohammed VI’s visit to Ethiopia in 2016, was finalized earlier this month in a joint agreement between the OCP Group and Ethiopia’s government.
Invoking the OCP-Ethiopia agreement, M’Hammadi highlighted Morocco’s commitment to “strengthen cooperation with the African states,” particularly in the realm of food security and sustainability goals in general.
With the increasing effects of climate change, especially amongst developing countries, sustainable food security has recently come to the forefront of issues on many developing countries’ agendas.
The addition of stable fertilizer supply in Ethiopia through OCP’s new factory has the potential for significant agricultural transformation within the region. The factories will assist in “the need to show solidarity and share expertise for a resilient agriculture in the face of climate change,” M’Hammadi. concluded.
