OCP Group makes its first ever blockchain-enabled delivery of phosphate fertilizers from Morocco to Ethiopia.
Moroccan OCP Group and Eastern and Southern African Trade and Development Bank announced 400 million dollars worth of fertilizer trade finance transactions executed via blockchain technology, 270 million dollars of which have already been completed, and the remainder to be executed in upcoming months.
OCP Group is the first African company to execute an intra-African trade transaction using blockchain, which makes it possible for all parties to import and export digitally in less than hours.
Blockchain technology was implemented for the first time in the financial sector a few years ago. However, it is currently used in many other areas, such as: healthcare, smart cities, smart contracts, energy markets, government sector.