Afreximbank announces $350m Term Loan Facility for OCP Group

African Export-Import Bank (Afreximbank), has announced the signing of a 7-year $350 million Term Loan Facility to provide financing to OCP Group, the world’s largest phosphate mining and leading fertilizer company.

Speaking on the facility, the President of Afreximbank, Prof. Benedict Oramah, noted that the facility will support OCP Group’s expansion plans across Africa.

He explained that the partnership with a major player in the fertilizer industry and with a strong presence across Africa showed that Afreximbank was fulfilling its mandate of facilitating export development in the continent and promoting intra-African trade and investments.

“This is an important transaction which supports the development of Africa’s agricultural capacity. OCP Group’s products, which are tailored to the needs of African farmers, will generate broad and deep improvements to the continent’s ability to compete in international agricultural markets.

“This facility also has symbolic value, as it marks the beginning of a productive and close relationship between Afreximbank and OCP Group. We are delighted to announce this facility, as the first demonstration of the strong relationship the Bank enjoys with Morocco,” Prof. Oramah added.