IFC and OCP Group, the world’s largest phosphate-based fertilizer producer, today launched an agri-finance platform to mobilize $800 million of blended capital by 2030. The new platform will build and support sustainable food production and distribution systems in Africa, contributing to skills development, job creation, and food security.

By providing access to finance and skills training, the platform aims to strengthen 30 agricultural value chains across Africa through 60 agri-finance operations. These will cover a range of crop types and will address challenges holding back the sector’s growth and resilience.

Agriculture is vital to Africa’s economy, contributing about 20 percent of the continent’s GDP and more than 60 percent of its employment. However, Africa currently imports a large proportion of its food, reducing the continent’s resilience to external shocks. The platform’s targeted investment strategy will support the sustainable growth of the sector and increase food security across the continent.

Source: IFC