Rabat – Mostafa Terrab, CEO and chairman of Moroccan phosphate giant OCP Group, has said that Africa has the potential to create a green revolution in agriculture and leverage the continent’s expertise to develop locally relevant solutions for sustainable agriculture.
“Africa can lead the way in developing its very own model for a sustainable agricultural revolution,” said Terrab during a private session on food security and resilience in the Middle East and Africa on Thursday. The session was part of The World Bank Spring Meetings, which took place in Washington DC.
“It is a question of mindset,” OCP CEO said, highlighting the “strong precedent” that the continent has achieved in several fields, including telecom and mobile banking.
Noting that Africa was a trailblazer in several areas, he stressed the need for the continent to invest in local fertilizer production and “spur innovation” in the global fertilization field through customized fertilization.
“We know that a one-size-fits-all to farming does not work,” Terrab underlined, arguing that a one-size-fits-all approach to fertilizers would not work either.
Terrab’s remarks constitute a call for collective efforts from stakeholders, governments, and local farmers to create a unique model for a sustainable agricultural revolution in Africa to achieve sustainable and productive agriculture.
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In this regard, OCP has stressed its readiness to collaborate with international partners with the aim of accessing new technologies and resources for sustainable agriculture.
On Wednesday, April 12, the Moroccan fertilizer producer announced its partnership with the International Financial Cooperation (IFC) to build four solar plants to power OCP’s operations in Morocco.
The project aims to reduce the company’s carbon footprint and increase green fertilizer production.
Terrab highlighted the deal as a “ground-breaking” partnership, saying that it reflects OCP’s commitment to the global agricultural transition.
“Investing in reliable and competitive renewable energy is a key pillar of OCP’s investment plan towards our ambitious targets for sustainable green fertilizers,” he said.
For his part, IFC Managing Director Makhtar Diop expressed the institution’s pride in supporting “OCP’s efforts to reduce emissions and green fertilizer production in Africa.”
Under the partnership, IFC will provide OCP with a green loan of €100 million (MAD 1.1 billion) to build four solar plants in the mining towns of Benguerir and Khouribga.
