15 000 28% 22

Value creation and social commitment 2011 ANNUAL REPORT OCP

22 15 000 28% BILLIONS OF MAD WERE YOUNG MOROCCANS BENEFITTED OCP’S SHARE IN THE INVESTED BY OCP IN 2011 FROM VOCATIONAL TRAINING TOTAL VALUE OF GOODS PROGRAMS AIMED AT EXPORTED BY MOROCCO IMPROVING THEIR EMPLOYABILITY

2-4, RUE AL ABTAL HAY ERRAHA BP 5196 CASABLANCA MAROC OCP ANNUAL www.ocpgroup.ma REPORT 2011 Créer de la valeur, s’engager socialement //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Value creation and social commitment

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OCP ANNUAL REPORT 2011 His Majesty King Mohammed VI visiting Jorf Lasfar in December 2011

OCP ANNUAL REPORT 2011

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INTRODUCTION 8 The world of OCP

Who we are _ 9 What we produce _ 11 OCP’s ten strategic targets _ 12 Some of the Group’s flagship projects _ 14 CON Our history _ 15 OCP’s subsidiaries _ 16 Our global presence _ 18 OCP’s market shares _ 20 General organizational chart _ 21 Financial indicators _ 22 TEN Our vision _ 23 PART 1 28 Value creation …

Human capital _ 30 Market _ 38 Industrial excellence _ 46 TS Financial statements _ 56 PART 2 62 …Social Commitment

Environment _ 64 Social commitment in Morocco _ 70 Food security _ 84 Ethics and transparency _ 92

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THEDOLLARS GROUP’S TURNOVER IN 2011

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//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 22 15 000 28 % //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// BILLIONS OF MAD WERE INVESTED YOUNG MOROCCANS BENEFITTED FROM OCP’S SHARE IN THE TOTAL VALUE BY OCP IN 2011 VOCATIONAL TRAINING PROGRAMS AIMED OF GOODS EXPORTED BY MOROCCO AT IMPROVING THEIR EMPLOYABILITY

9 THE WORLD OF OCP

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FIRST EXPORTER WORLDWIDE OF PHOSPHATES IN ALL FORMS (PHOSPHATE ROCK, PHOSPHORIC ACID AND FERTILIZERS) FIRST MOROCCAN COMPANY THE LARGEST IN THE KINGDOM ACTIVE ON ALL FIVE CONTINENTS

Boasting a 90-year plus experience and disposing of phosphate reserves among the most important in the world, the Group pursues a double goal of value creation and strong social commitment. In fact, OCP is achieving high fi nancial and marketing performance on the one hand, and is supporting, on the other hand, Moroccan economy as well as global food security, a fi eld where the Group is a THE MEAN major player. P2O5 CONTENT OF EACH TONNE OF ROCK IS In OCP’s view, profi tability goes hand in hand 0.32 TONNE with responsibility

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10 WHAT WE PRODUCE

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PHOSPHATE ROCK 1 The quality of the phosphate rock sulfuric acid. In 2011, OCP has manufactured extracted – through open-sky mining – is 4.4 million tonnes P2O5 of this product. As for measured by its phosphorus content (P2O5). purifi ed phosphoric acid, it is produced in The mining rock is fi rst processed to increase small quantities to supply different food and its phosphorus concentration (through industrial applications. OCP is the biggest enrichment processes) and is then converted worldwide exporter or phosphoric acid, with a into phosphoric acid. The mean P2O5 content 51% global market share. of each tonne of rock is 0.32 tonne. OCP is the fi rst worldwide exporter of phosphate rock, with PHOSPHATE FERTILIZERS a 36.7% world market share. In 2011, the Group 3 Four different types of such fertilizers has produced 28.1 million tonnes, of which it are processed from phosphoric acid: DAP has exported 9.7 million tonnes and supplied (the most commonly used), TSP (trisodium 18.4 million tonnes to its chemical processing phosphate), MAP (a binary fertilizer consisting facilities in Morocco. of two fertilizing agents: phosphorus and nitrogen), and NPK (a ternary fertilizer made PHOSPHORIC ACID of three elements: phosphorus, nitrogen and 2 An intermediate product between potassium). With a 16.5 % market share, phosphate rock, fertilizers and phosphoric OCP is the third global exporter of phosphate acid is actually the result of an enrichment of fertilizers, after China and the United States. the original ore to reach 52% concentration in In 2011, the Group’s total fertilizer production

P2O5 through a chemical reaction process with reached 4.35 million tonnes.

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11 OCP’S TEN STRATEGIC TARGETS

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01 7 000 6 225 Leadership 6 000 5 000 4 239 Investments Thanks to its industrial 4 000 3 824 3 060 in millions of MAD and marketing leadership, 3 000 2 570 and particularly to its social 2 000 commitments, OCP is a credible and authoritative voice 1 000 in the world of phosphate. 2007 2008 2009 2010 2011 03 05 Industrial Reasoned excellence fertilization Thanks to its industrial investment A reasoned use of fertilizers will program of MAD 120 billion within enable to reconcile food security the next ten years, OCP will have requirements with soil and at its disposal the most innovative environment preservation. technology in matters of phosphate mining, processing and transport. 02 04 Competitiveness Human capital Essential to its development, OCP’s OCP’s near 20,000 staff members competitiveness relies upon its are its primary wealth. They are part industrial ﬂ exibility, cost reduction of its collective intelligence, which and innovation. is the main source of the Group’s performance.

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12 06 Preserving the environment Parallel to adopting environment- friendly industrial technology, OCP is implementing ambitious strategies in matters of energy effi ciency and water resources preservation. 07 09 Food security Supporting OCP’s Nearly one billion people in the neighbor populations world are poverty-striken. People living in the vicinity of OCP is determined to contribute the Group’s fi ve sites benefi t from in implementing innovative various recruiting and training agricultural solutions to help the programs, as well as from incentives most vulnerable farmers. to the creation of small businesses. 10 Developing the Group’s ecosystem In OCP’s view, strengthening the bonds with its ecosystem is a key factor of the Group’s success. Promoting local lifeblood, developing their know-how, enhancing the attractiveness of the regions where OCP’s activities are located, these are the axes of the Group’s action to associate local as well as national players. 08 Supporting Moroccan agriculture In addition to the soil fertility maps, OCP has created an investment fund designed to fi nance innovative agricultural projects.

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13 SOME OF THE GROUP’S FLAGSHIP PROJECTS

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THE KHOURIBGA-JORF LASFAR from the present 18 million. As for the phosphate SLURRY PIPELINE rock processing operations, they will be made Designed to transport phosphate rock from easier thanks to the construction of three new Khouribga’s minings to the Jorf Lasfar chemicals washing plants (including the El Halassa plant) plants, this 235 km long slurry pipeline is among the world’s largest and most modern. scheduled to be complete in 2013. The pipeline will generate substantial savings in transport PORT FACILITIES cost, as well as in water and energy. Its operation Large-scale extension works are to be completed will also result in reducing by 900,000 tonnes during the second semester of 2015 at the Jorf OCP’s carbon footprint. The pipeline project will Lasfar harbor to enable its facilities to cope with cost MAD 4.5 billion. the import-export trafﬁ c resulting from OCP’s doubling of its mining activity and the threefold INCREASING JORF LASFAR’S increase of its fertilizer production scheduled PRODUCTION CAPACITY by 2020. Four new plants will raise the site’s phosphoric acid and fertilizer production capacity to OCP SKILLS 3.7 million tonnes. This extension will be In 2011, in the framework of its responsibility paralleled by the construction of a seawater toward the populations living in the vicinity desalination plant to meet the chemicals of its facilities, OCP has launched OCP Skills, platform’s present and future water an ambitious program to recruit 5,800 staff requirements. The projects aimed at boosting members and provide vocational training for Jorf Lasfar’s production capacity represent an 15,000 youth to reinforce their employability in investment of MAD 40 billion. the various sectors of Moroccan economy.

INCREASING KHOURIBGA’S MINING - AND PROCESSING CAPACITY Thanks to a global investment of MAD 18 billion, three new minings will be opened (among them the El Halassa Green Mine), which will raise phosphate rock production to 38 million tonnes

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14 OUR HISTORY

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// 1920 1965 1975 1920 1976-1986 1996-2004 - // 20112008 2009 2010 2011

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15 OCP’S SUBSIDIARIES

//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 15 PHOSBOUCRAA BUSINESS LINE: mining CAPITAL: MAD 100 MILLION OCP SHARE: 100% NET BOOK VALUE OF THE EQUITY INVESTMENTS END DECEMBER 2011: SUB- MAD 1,398.960 MILLION

EURO- SIDIA- MAROC PHOSPHORE BUSINESS LINE: chemistry CAPITAL: 180 000 000 MAD OCP SHARE: 33,33% NET BOOK VALUE OF THE EQUITY INVESTMENTS END DECEMBER 2011: RIES MAD 60 MILLION

MAROC PHOSPHORE IMACID BUSINESS LINE: chemistry BUSINESS LINE: chemistry CAPITAL: MAD 6.5 BILLION CAPITAL: MAD 619.998 MILLION OCP SHARE: 100% OCP SHARE: 33,33% NET BOOK VALUE OF THE EQUITY INVESTMENTS NET BOOK VALUE OF THE EQUITY INVESTMENTS END DECEMBER 2011: END DECEMBER 2011: MAD 6.04 BILLION MAD 206.666 MILLION

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16 CERPHOS INNOVATION FUND BUSINESS LINE: science & technology FOR AGRICULTURE research and studies BUSINESS LINE: investment fund, CAPITAL: MAD 29 MILLION subsidiary created in 2011 OCP SHARE: 100% CAPITAL: MAD 50 MILLION NET BOOK VALUE OF THE EQUITY INVESTMENTS OCP SHARE: 100% END DECEMBER 2011: NET BOOK VALUE OF THE EQUITY INVESTMENTS MAD 0 END DECEMBER 2011: MAD 50 MILLION

PAKISTAN MAROC SMESI PRAYON PHOSPHORE BUSINESS LINE: surveys, industrial BUSINESS LINE: industry BUSINESS LINE: chemistry installations and engineering CAPITAL: EUR 43 MILLION CAPITAL: MAD 800 MILLION CAPITAL: MAD 2 MILLION OCP SHARE: 50% OCP SHARE: 50% OCP SHARE: 100% NET BOOK VALUE OF THE EQUITY INVESTMENTS END DECEMBER 2011: NET BOOK VALUE OF THE EQUITY INVESTMENTS NET BOOK VALUE OF THE EQUITY INVESTMENTS END DECEMBER 2011: END DECEMBER 2011: MAD 164,724,140.34 MAD 400 million MAD 15,481,912.84

BUNGE MAROC SOTREG PPL PHOSPHORE BUSINESS LINE: staff transport BUSINESS LINE: chemistry BUSINESS LINE: chemistry CAPITAL: MAD 56 MILLION CAPITAL: INDIAN RS 3,027,999,560 CAPITAL: MAD 900 MILLION OCP SHARE: 100% OCP SHARE: MP HOLDS 50% OF OCP SHARE: 50% NET BOOK VALUE OF THE EQUITY INVESTMENTS ZMPL’S SHARES, WHICH END DECEMBER 2011: NET BOOK VALUE OF THE EQUITY INVESTMENTS POSSESSES 80.45% OF PPL END DECEMBER 2011: MAD 174,842,069.45 NET BOOK VALUE OF THE EQUITY INVESTMENTS MAD 450 MILLION END DECEMBER 2011: MAD 403,740,176.27

JACOBS IMSA LEJONC ET CIE ENGINEERING SA BUSINESS LINE: hotel industry BUSINESS LINE: real estate BUSINESS LINE: engineering CAPITAL: MAD 2 MILLION CAPITAL: EUR 2,713,280 CAPITAL: MAD 45 MILLION OCP SHARE: 100% OCP SHARE: 100% OCP SHARE: 50% NET BOOK VALUE OF THE EQUITY INVESTMENTS NET BOOK VALUE OF THE EQUITY INVESTMENTS END DECEMBER 2011: END DECEMBER 2011: NET BOOK VALUE OF THE EQUITY INVESTMENTS END DECEMBER 2011: MAD 93,652.85 MAD 30,239,689.87 MAD 22.5 MILLION

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OCP GROUP’S MARKET SHARES

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2011 Global exports of phosphate 2011 Global exports of in all forms raw phosphate

Other 1,7% China 2,5% Morocco 30,2% Russia 5,3% West Asia 33,8%

Morocco 36,7% Other 41,5% USA 13,6% China 14,8% North Africa 5,4% South Africa 4,1% Egypt 10,4%

2011 Global exports of 2011 Global exports of phosphoric acid phosphate fertilizers

China 5,5% Other 3,2% West Asia 6,6% Morocco 16,5% Europe 18,8% America 12,3% Africa and West Asia 10,5% China 27,2% Africa 23,7% USA 23,8%

Morocco 51,9%

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20 GENERAL ORGANIZATIONAL CHART

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CEO AND CHAIRMAN OF THE BOARD

Mostafa TERRAB

GENERAL SECRETARY HEAD OF CEO’s OFFICE

Mohamed El KADIRI Marouane AMEZIANE

EXECUTIVE VP DIRECTOR SUSTAINABLE HUMAN CAPITAL DEVELOPMENT Mohamed EL KADIRI, Taha BALAFREJ (acting)

DIRECTOR BUSINESS GENERAL COUNSEL STEERING Rachid MOULINE Ali BEN ABDESLAM

HEAD OF HUMAN RESOURCES DEVELOPMENT AND ORGANIZATIONAL PROGRAM Meryem CHAMI

EXECUTIVE VP EXECUTIVE VP SALES, EXECUTIVE VP EXECUTIVE VP FINANCE AND OPERATIONS MARKETING AND RAW AUDIT AND CONTROL MANAGEMENT SUPPORT MATERIAL PROCUREMENT Amar M’barek Mohamed DRISSI Mhamed KAROUA EL HAJJOUJI IBNABDELJALIL

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21 THE GROUP’S FINANCIAL INDICATORS (in millions of MAD)

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Turnover Net Debt

70 000 25 000 24 954 60 000 60 000 56 400 20 000

50 000 15 000 43 000 40 000 10 000 7 663 30 000 27 500 5 000 4 455 25 000 2 002 20 000 0

10 000 -5 -411

2007 2008 2009 2010 2011 2007 2008 2009 2010 2011

Net Proﬁ t Total Balance Sheet

23 414 74 388 21 000 70 000

18 000 60 000 16 361 53 801 15 000 50 000 49 390 49 452

12 000 40 000 37 938

9 000 8 890 30 000

6 000 20 000

3 000 2 751 1 283 10 000

2007 2008 2009 2010 2011 2007 2008 2009 2010 2011

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22 The OCP vision

MANAGING CHANGE RAPIDLY AND EFFICIENTLY by Mostafa Terrab, Chairman and CEO

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Without a clear vision, the changes in the Group’s conveys meaning to the Group’s actions and environment cannot be effi ciently managed or guides its decisions. Everything changes except anticipated, nor can the opportunities arising this vision. And 2011’s fi nancial statements, from them be seized. Environment monitoring among the best in OCP’s history, are there to and analysis, as well as OCP’s competitive comfort the Group’s choices: a 46% increase in assets and resources are intimately bound in the turnover and an 84% leap in net profi t! Group’s collective will. All contribute to a vision that is a clear and steady reference. A vision that

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23 / OCP / THE OCP VISION

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information made possible by these NTIC With a permanent pledge to hunt down all impose an all-time rigorous market watch and unproductive cost, and to give innovation full the existence of fast decision-making process. leverage.

II. OBJECTIVES AND COMPETITIVE 2. The Business Steering (BS) ADVANTAGES The purpose of this guidance tool is to coordinate All the change and fl uctuation factors stated above raw materials procurement and marketing. It is a have made compulsory OCP’s master decision to most valuable tool when it comes to deliver fast, double its phosphate production capacity as well accurate and profi table arbitration. as its potential global market share of fertilizers, thanks to a gigantic investment program of AN OBJECTIVE IS ALWAYS MAD 120 billion over the 2010-2020 decade. By comforting its presence over the entire phosphate EASIER TO SET THAN TO REACH value chain, the Group is determined to achieve OCP ENSURES IT HAS a 30% cost reduction, to improve its fi nancial THE NECESSARY MEANS profi tability and to enhance its marketing TO IMPLEMENT ITS STRATEGY fl exibility. These three goals are consistent with the Group’s well established competitive advantages, namely: the biggest phosphate reserves worldwide, a broad ore diversity, a strong 3. The Managerial Triptych presence over the entire phosphate value chain At OCP, a “Managerial Triptych” was launched in and a century-old industrial experience. October 2011, structured around three axes: HR development, development of the information III. MEANS system, and organization. All three pursue the It is well known that an objective is always easier same goal: enable the Group’s staff to rise to the to set than to achieve. For this reason, OCP is very understanding of market dynamics as well as of careful about providing the means necessary OCP’s position as world leader. And this will only to implement its strategy, and this has been be achieved through transforming the nature of structured around the following three main pillars: the relationship between the Company and its staff, along with improving the means put at their 1. The Operational Transformation disposal. OCP provides its men and women with Program (IQLAA) the means to become self-reliant and responsible, This program structures in depth and breadth with a thirst for knowledge and keen on developing the changes occurring at OCP. It redefi nes the their personal ability to perform effi ciently in a Group’s industrial processes and designs new permanently changing environment. The Group ones when needed, it modernizes and sometimes is implementing ambitious training programs in revolutionizes its production tools. technical as well as managerial skills.

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25 / OCP / THE OCP VISION

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The Talent Factory. OCP pools its staff around of OCP’s facilities strengthen the Group’s shared vision and values. The information harmonious integration in the national social system, which will support all of the Group’s fabric, and thus improve its local partners’ activities, will enhance management competitiveness. transparency and democratize information. As for the organization axis, it is not meant to meet Above all, OCP is driven by strong and strict technical requirements as much as it is oriented ethics of respect of the moral and material towards promoting a sense of responsibility interests of all of the world’s producers. As the among the Group’s staff, who will be granted all upstream link of the food industry value chain, necessary means to ensure that their actions are the Group pays scrupulous attention to preserve always in line with OCP’s values. and improve its ecosystem.

IV. SOCIAL COMMITMENT

OCP’s self-image and its environment are inextricably intertwined. The number of stake- holders as well as their scope of action are steadily expanding. For OCP, this entails social responsibilities that are as many interfaces with the societies in which the Group is working. IN OCP’S VIEW, SOCIAL The term “responsibilities” may not be appro- RESPONSIBILITIES priate, though, inasmuch as it suggests the ARE NOT AN EXPENSE idea of a cost, a duty towards others that would be incurred at the expense of the Group’s ﬁ nan- BUT OPPORTUNITIES cial proﬁ tability. On the contrary, in OCP’s view, TO IMPROVED its social responsibilities are not an expense but COMPETITIVENESS opportunities to improve its competitiveness.

In fact, OCP’s social responsibilities are part and parcel of the Group’s natural resources management, as well as of its industrial processes transformation or of its customer support policy. OCP’s commitment towards global food security comforts its moral and material leadership. Support to Moroccan agriculture as well as to the employability of the young population living in the vicinity

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26 / OCP / THE OCP VISION

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Fertilizer production line at Jorf Lasfar

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//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// VALUE CREA- TION …

//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// HUMAN CAPITAL page 30

MARKET page 38

INDUSTRIAL EXCELLENCE page 46

FINANCIAL STATEMENTS page 56

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29 Human capital

TOWARD A CULTURE OF PERFORMANCE AND SELF-FULFILMENT

//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// DEDICATED STAFF MEMBERS COMMITTED TO THEIR FULFILLING AND REWARDING JOBS? AT OCP WE KNOW THIS IS NOT ONLY DESIRABLE, BUT ESSENTIAL FOR THE SUCCESS OF THE GROUP’S STRATEGY

OCP expects its employee to be self-managed, Upgrading OCP’s human capital is crucial to meet responsible, and capable of deciding and acting the challenges facing the phosphate industry. on their own, because they share with fellow staff- Without it, the Group’s aggressive industrial members transparent and reliable information. strategy, based on production doubling and Far from the traditional hierarchy built on a cost reduction, its commercial ﬂ exibility and its subordination chain, OCP promotes a transverse global vision of the various sectors of its business governance system in which everyone thoroughly will but fail to proﬁ t in any sustainable manner master their own work, both individually and in from the developments of a promising, albeit coordination with their colleagues. turbulent market.

Achieving that kind of result is not an easy task. A NEW WORK CULTURE The changes involved begin with the deﬁ nition OCP managers cannot expect to meet their of a new HR (human resources) approach, whose challenges while maintaining a local, partial, target is to achieve a “Talent Factory”. They also and compartmentalized vision of their work. The involve the replacement of the old life-long work various training courses, the coaching, and team contract by a contract of employability where the building that the Group will provide them will employee is jointly responsible for his future. To enhance the following qualities and strengths: help achieve this, OCP has put together a training and development support program designed to 1. Leadership skills. They are to be understood enhance each and every employee’s professional as not just the capacity to give orders, but as the expertise, as well as – and inseparably linked to power to persuade through convincing arguments, the latter – to teach them a behavioural pattern through one’s own ethical behaviour, as well as by open to change and transformation in line with convincing one’s team of the value and validity of the Group’s vision. the actions decided. The transverse relationships

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30 / OCP / HUMAN CAPITAL

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Solidarity is one of OCP’s essential values

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31 / OCP / HUMAN CAPITAL

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the Group is set on introducing can hardly coexist traditional thinking. To move is to put oneself off with any bossy attitude. A true leader is one who balance. Learning to live and work in situations will try to get value out of dissenting points of view. of unsteady equilibrium enables to take up chal- He will mobilize, federate and eventually decide. lenges and manage disruptions.

2. Self-management. This capacity will be 6. Excellent professional competence and a needed to apprehend the complexities of the capacity for diversiﬁ cation are essential if one interconnected works and functions in the Group’s is to be in a position to master new technologies. new vision. Everyone should know the end result The two qualities are acquired through learning of their daily actions, however small, as well as the speciﬁ c expertise as well as acquiring a broader- way these relate to OCP’s strategy. In this manner, scope education. every worker will be part of the movement and dynamics taking the Group forward. 7. Last but not least, a sense of solidarity will facilitate team-work and know-how sharing, 3. Responsibility and accountability. two values essential for the emergence of a OCP managers are expected to be able to take collective intelligence at OCP. responsibility for quick and right decisions, as required today by the phosphate’s highly competitive market. They are also required to be fully accountable for their actions. These are all qualities that require both courage and resilience.

4. Team work. Autonomy and responsibility go PROGRESSIVELY ENACT THE hand in hand with a spirit of cooperation with one’s TRANSFORMATION OF THE fellow employees. This new style of relationships, LIFE-LONG WORK CONTRACT very dependent on the market’s fl uctuations, entails a necessary fl uidity in the execution of INTO A CONTRACT tasks and requires fl exibility, common sense OF EMPLOYABILITY as well as modesty. The new behaviour, implies integrity and an ethic of transparency, along with empathy with one’s fellow employees. THE EMPLOYABILITY CONTRACT OCP’s managerial triptych describes the 5. Curiosity and inventiveness. They are methods of implementing the Group’s new required to enable the wider fi eld of vision HR policy, a policy inspired by one strong needed to encompass the evolution of one’s principle, and it is to progressively enact the profession and the world. In the present fast transformation of the life-long work contract changing world, it is essential to learn to evolve into a contract of employability. This rich and, when necessary, to question and challenge and multi-faceted evolution is based on the oneself and voluntarily give up the comfort of following:

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32 / OCP / HUMAN CAPITAL

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1. OCP staff should master enough professional OCP’S KNOWLEDGE INSTITUTE competence to make them fl exible and The purpose of this Institute created in 2010 capable to work for the Group as well as for is to design, organize, centralize and provide other companies. OCP’s economic ties with its training for more than 1,000 managers in employees will henceforth prevail over their adequacy with OCP’s HR “Talent Factory” policy. legal ties. This evolution will also contribute The aim is to meet the Group’s requirements in to the overall improvement of the level of terms of technical or managerial skills, as well competence in Morocco and to the fl uidity of the as «soft» and behavioural competences, thus country’s job market. enabling OCP managers to harmoniously fi t into the Group’s vision and strategy. The curricula 2. Self-managed and responsible staff of the Knowledge Institute are developed – members are tied to OCP by a performance and often provided – in partnership with some contract whose main provisions are the adhesion of the most renowned international academic to the Group’s values system, the permanent institutions, such as HEC in Paris or MIT in acceptance of change and the fulfi lment of Boston. Let us recall that these programs are individual and collective performance. developed around four strands:

3. Moral and social behaviours are as important 1. Strategy and leadership. The purpose of as technical expertise. this managerial cycle is to enhance the Group’s managers’ expertise, both professional and 4. Initial training and academic degrees are behavioural. only relevant as starting elements in a career development within the Group. Also, the actual 2. Mastering a trade. This consists of technical responsibility level of the position held will modules adapted to the various OCP trades: override hierarchical title or rank. mining, phosphates processing and related support activities such as human resources, 5. More generally, personnel distribution over fi nance, project management, auditing, logistics, the various job positions at OCP works like a etc. micro-employment market, with employees on the supply side, and positions to fi ll on the 3. Integration. A large range of activities within demand side. The fi nality then, is to achieve the OCP are focused on integrating its employees, fi nest match between both of them. such as facilities guided tours, presentations of the Group’s Mining and Industrial Departments, 6. Clearly, expecting employees to be initiation to OCP’s trading activities, etc. These self-managed, responsible for their own various initiatives contribute to the emergence development, and work off balance can be a of a Group culture. source of anxiety for some. For them, the Group will provide personal coaching and special care 4. Monitoring and openness. Lecture cycles during the course of their career. teach OCP managers how to take a step back and

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33 / OCP / HUMAN CAPITAL

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Organizing know-how transfer

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detach from the Group’s day-to-day activities face. Moreover, as a responsible enterprise, the in order to stimulate their refl ection on change, Group’s ambition is to disseminate them into encourage their creativity and broaden their the fabric of Moroccan economy. Trained in the vision. very heart of OCP’s strategy and its expertise base, fed with the Group’s values and benefi ting THE TALENT FACTORY from its sophisticated learning system, The Talent Factory model is the privilege of the these future talents will have had a highly small circle of the most successful multinational diversifi ed career path that will make them corporations. At OCP, it is considered the natural sought after as international managers. Those long-term extension of the employability who will be called to work in Morocco outside contract. The Group’s ambition is to develop the Group will contribute, as