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23 April 2021

$400M African fertilizer deal executed on blockchain eases COVID-19 slowdown

$400M African fertilizer deal executed on blockchain eases COVID-19 slowdown


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A state-owned Moroccan fertilizer company has executed a $400 million transaction using blockchain technology, in what it says is a first for intra-African commerce.

In a deal facilitated by the Eastern and Southern African Trade and Development Bank, OCP Group sold phosphate fertilizer exports to Ethiopia using blockchain technology, in a deal worth an initial $270 million.

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