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Rabat – Moroccan phosphate giant OCP has solidified its position as a key player on the African continent, ranking 9th in outlet Jeune Afrique’s prestigious 2024 ranking of the 500 most influential African companies.
Jeune Afrique’s exclusive compilation of the most prosperous enterprises in Africa involved meticulous research and analysis. The editorial team gathered revenue data for the fiscal year 2022 from nearly 1,300 companies, drawing from a comprehensive database of over 15,000 entities.
The evaluation included solely those companies legally operating within Africa, encompassing both parent companies and their subsidiaries, with some exceptions made for extractive sector entities occasionally listed outside the continent.
According to the source, all financial figures provided are verifiable, sourced from identifiable or certified sources and converted into US dollars using closing exchange rates for the fiscal year.
In instances where current data was unavailable, the publication referenced previous rankings, with companies absent for two consecutive years automatically excluded.
Leading the rankings are industry stalwarts such as SONATRACH, Nigerian National Petroleum Corporation, and SASOL, showcasing the continent’s diverse economic landscape.
Read also: Why Morocco’s OCP and Africa Need Each Other
While traditionally focused on European and American markets, OCP has strategically expanded its operations south of the Sahara in recent years.
The subsidiary OCP Africa plays a pivotal role in this growth strategy, establishing blending units – facilities that customize fertilizers for specific regional needs – like the recently opened plant in Nigeria.
OCP’s commitment extends beyond direct sales; the company actively supports agricultural research projects through partnerships with institutions like the Mohammed VI Polytechnic University of Benguerir.
These initiatives aim to develop fertilizer formulations specifically tailored to African soils, enhancing agricultural productivity across the continent.
OCP’s strong performance in 2022, with a turnover exceeding 114.5 billion Moroccan dirhams (around $11.414 billion), can be partly attributed to global disruptions.
The Covid-19 pandemic and sanctions imposed on Russia following the war in Ukraine have significantly impacted supply chains, creating an environment where OCP, as a world leader in phosphate and fertilizer production, is well-positioned to meet the growing demand.
