Yara International ASA, a global leader in crop nutrition, has announced the sale of its fertilizer import and distribution subsidiary in Ivory Coast. In response to the evolving challenges within the global food industry, Yara conducted a comprehensive review of its operations, taking into account market trends, regulatory factors, and strategic growth opportunities. This review led to the decision to divest from Ivory Coast, allowing Yara to reallocate resources and investments to other African countries that offer greater potential for the successful execution of its 2030 Africa Food Systems Transformation strategy.
“The decision to divest is rooted in our recognition that becoming a true leader in Africa’s Food Systems Transformation requires a phased approach,” said Luis Alfredo Pérez, SVP Yara Africa. “Our first step is to refine our geographical focus and prioritize the crops and regional segments with the greatest potential for establishing closed-loop partnerships, which are essential for sustainably improving the productivity and profitability of smallholder farmers in Sub-Saharan Africa.”
Wikus Grové, Financial Director Yara Africa, emphasized the importance of strategic focus and disciplined capital allocation in this process: “To secure the necessary investments, it’s crucial that we streamline our operations and concentrate on core markets that offer scale and drive bottom-line growth. I am confident that this strategic move will enable us to optimize returns, enhance shareholder value, and position our company for sustained success in the future.”
Taz Hassim, HRBP Yara Africa, assured that the decision would not lead to job losses: “Yara has always prioritized its employees in decision-making. We want to reassure our workforce that their roles are secure, as we recognize the critical role they play in our success.
