Morocco’s phosphate giant OCP, with more than $9 billion in revenue for 2024 and a global footprint spanning five continents, continues its push for sustainable growth by securing a €365 million green financing deal.
The move underscores the group’s strategy of combining industrial performance and profitability with environmental responsibility.
The OCP Group, a world leader in phosphate-based fertilizers, has signed the €365 million green loan agreement with Italy’s SACE agency, which specialises in export finance and insurance under the supervision of the Italian Ministry of Economy and Finance. This export credit, part of SACE’s “Push Strategy” initiative, marks two firsts: it is OCP’s inaugural financing under its Green Finance Framework and the first SACE-guaranteed transaction in Morocco.
The funds will support OCP’s ambitious $13 billion green investment program spanning 2023 to 2027. Among the program’s targets are exclusive reliance on non-conventional water resources by 2025, the adoption of 100 percent renewable energy by 2027, and achieving carbon neutrality by 2040.
The financial structuring was handled by BNP Paribas and Crédit Agricole CIB. The deal also aims to strengthen trade ties between the Moroccan group and Italian businesses, in line with the objectives of Italy’s Mattei Plan for Africa.
Karim Lotfi Senhadji, OCP’s Chief Financial Officer, emphasised the strategic importance of the deal, stating that this first green financing with SACE reflects OCP’s commitment to sustainable development and enhances its financial strategy while unlocking new pathways for responsible growth.
On the Italian side, the agreement is viewed as a catalyst for boosting exports and enabling small and medium-sized enterprises to access African markets. Armando Barucco, Italy’s ambassador to Rabat, described the deal as a strategic partnership that brings together Italian industrial excellence and a key Moroccan economic player.
Labeled as a Green Loan, the financing adheres to international sustainable finance standards and fits into a broader movement to forge green partnerships between Europe and Africa.
MK/te/sf/lb/as/APA