IFC, OCP Africa partner to strengthen rice sectors in Côte d'Ivoire and millet in Senegal
The International Finance Corporation (IFC), a member of the World Bank Group, announced the establishment of a partnership with OCP Africa, a subsidiary of the OCP Group, world leader in the phosphate market and its by-products, with a view to strengthening the rice sectors in Côte d'Ivoire and millet in Senegal and contributing to improving the standard of living of thousands of small producers.
These crops, essential to guarantee food security in these two West African countries, operate at yields well below their full potential due in particular to a lack of professionalization, unsuitable agricultural practices and insufficient funding.
As part of this partnership, IFC will provide advisory services to farmers and farmer groups that are members of OCP Africa's Agribooster program with the ambition to benefit, by 2022, nearly 12,000 Ivorian and Senegalese farmers.
The objective of this project is to strengthen the technical, financial and managerial skills of cooperatives and to improve agricultural practices by integrating smart solutions relating to climate change for water and soil management. Also, it aims to accelerate the digitization of payment systems in the two value chains and the development of a rating tool to improve farmers' access to finance.
"We are very pleased with this partnership with OCP Africa, a fervent contributor to the development of agriculture in Africa, which aims to promote more responsible and environmentally friendly agriculture," underlines Xavier Reille, director of IFC for the Maghreb.
"This partnership concretizes our vision of releasing the potential of African agriculture in a sustainable way through a holistic approach, involving key players in the value chain, for the benefit of small farmers," indicates Mohamed Anouar Jamali, Managing Director of OCP Africa.
A subsidiary of the OCP Group, world leader in the phosphate market and its derivatives, OCP Africa, with which IFC signed an agreement in principle in January 2020 with a view to enhanced collaboration, is a strategic player in Africa for the development of sustainable and intelligent agriculture that values the work of small producers and strengthens food security.