Walid Battal
The International Finance Corporation (IFC) and the Office Chérifien des Phosphates (OCP) have recently announced an ambitious partnership aimed at mobilizing $800 million to support agriculture in Africa by 2030. This strategic initiative aims to improve agricultural productivity by 50% by providing fertilizers and solutions tailored to the specific needs of African soils, while facilitating local farmers’ access to regional and international markets.
Furthermore, this partnership plans to strengthen the capacities of more than 10 million local farmers by offering them customized training and technical support to promote sustainable and efficient agricultural practices. Investments will focus, among other things, on developing infrastructure necessary for fertilizer distribution and logistics, as well as promoting innovation and research in the agricultural sector to improve farming techniques and resource utilization. This initiative is expected to enhance food security by increasing agricultural yields by 30% and reducing dependency on food imports, while generating about one million jobs and boosting rural economic development.
By focusing on such sustainable and environmentally friendly agricultural practices, this collaboration between IFC and OCP represents a significant step towards supporting agriculture in Africa, thereby contributing to economic growth, food security on the continent, and reducing vulnerability.