Grain SA says the government’s decision fails to address rising production costs and delays in the tariff system.
The financing comes as tighter global phosphate supplies create fresh opportunities for new producers entering the market.
The financing will support a major increase in fertiliser production in Nigeria and fund a new manufacturing plant in Ethiopia as Africa seeks to strengthen food production and cut reliance on imports.
Rising fertilizer exports are helping Morocco manage higher energy costs and weaker global economic growth, according to the World Bank.
The partnership will combine agricultural research and artificial intelligence to improve decision-making for farmers, researchers and policymakers across the Global South.