Yara sells Ivory Coast unit, shifts focus to core African markets

Yara International ASA, a global leader in crop nutrition, has announced the divestment of its fertilizer import and distribution subsidiary in Ivory Coast, marking a strategic shift in its African operations. The company completed the sale on August 22, 2024.

This decision follows a comprehensive review of Yara’s global operations, with a focus on market dynamics, the regulatory environment, and growth opportunities within the continent. The company has decided to redirect its resources and investments toward countries in Africa that offer greater potential for implementing its 2030 Africa Food Systems Transformation strategy.

Luis Alfredo Pérez, Senior Vice President of Yara Africa, highlighted that the divestment is a strategic step aimed at focusing the company’s efforts on markets with the highest potential for success. “To become a true leader in the Food Systems Transformation in Africa, we must adopt a phased approach. Right-sizing our geographical footprint and prioritizing crops and regions with the greatest opportunities for sustainable partnerships will be essential to improving the productivity and profitability of Sub-Saharan smallholder farmers,” said Pérez.

Financial Director Wikus Grové noted that streamlining operations and prudent capital allocation are crucial for optimizing returns and enhancing shareholder value. Additionally, Taz Hassim, Human Resources Business Partner for Yara Africa, assured employees that the divestment would not result in job losses, underscoring the company’s commitment to its workforce.

Yara’s divestment in Ivory Coast reflects its broader strategy to concentrate on markets that align more closely with its long-term goals in Africa, particularly in the context of the ongoing transformation of food systems across the continent.