Africa Finance Company (AFC) (www.AfricaFC.org), the continent’s main infrastructure options supplier, has signed a joint declaration with the United Nations Industrial Growth Group (UNIDO) to boost sustainable industrialisation and dedicated to assist the ‘Partenariat pour le coton’ initiative, which seeks to boost Africa’s position inside the world textile and attire worth chains. Aligned with AFC’s dedication to drive Africa’s sustainable improvement, the declarations have been signed on the ongoing Assist-for-Commerce World Overview on the World Commerce Group (WTO) headquarters in Geneva, Switzerland.
AFC’s work with UNIDO is geared toward advancing sustainable industrialisation in growing economies, with the 2 establishments targeted on catalysing personal funding throughout a number of sectors whereas supporting vitality entry and transition, industrial decarbonisation, and the event of agro-industries by mobilising the information, experience, and monetary sources required to attain the UN sustainable improvement objectives (SDGs).
Individually, AFC agreed to collaborate with UNIDO, the WTO, the Worldwide Commerce Centre (ITC), the African Export-Import Financial institution (Afreximbank), and the Worldwide Islamic Commerce Finance Company (ITFC) to assist the ‘Partenariat pour le coton’. This initiative goals to strategically place African nations – notably Benin, Burkina Faso, Chad, Mali, and Côte d’Ivoire – inside the world textile and attire worth chains. The partnership will deal with setting up regional hubs for sustainable textiles to spice up commerce competitiveness and spur financial improvement inside Africa’s cotton sectors. Supported by a joint declaration aligned with the UN SDGs, the initiative is dedicated to reworking the cotton business by implementing sustainable practices, creating jobs, empowering girls and youth, and enhancing know-how and infrastructure.
‘Partenariat pour le coton’ extends AFC’s already vital position in reworking Africa’s textiles business by investee firm ARISE IIP’s Glo-Djigbé Industrial Zone (GDIZ) in Benin Republic. The GDIZ hosts a textile manufacturing plant that processes regionally sourced uncooked cotton to create completed t-shirts on the market in home and worldwide markets. The GDIZ’s ‘Made-in-Benin’ t-shirts now retail at The Kids’s Place Retailer within the US, and it lately exported 80,000 youngsters’s leggings to the French model Kiabi. This milestone showcases the numerous potential of Africa’s textile business and marks a serious step in integrating Benin Republic into the worldwide textiles and clothes market.
AFC’s President&CEO, Samaila Zubairu stated: “These joint declarations are a reaffirmation of AFC’s dedication to driving sustainable improvement in Africa. By partnering with esteemed world organizations resembling UNIDO and supporting transformational initiatives just like the ‘Partenariat pour le coton,’ we’re setting the stage for fast financial and industrial developments that may create high quality jobs and wealth.”
AFC’s lately revealed “State of Africa’s Infrastructure Report 2024” recognized vital infrastructure gaps and, correspondingly, immense funding alternatives in key sectors together with energy, transport, and digital communications.
Distributed by APO Group on behalf of Africa Finance Company (AFC).
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Yewande Thorpe
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Africa Finance Company
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About AFC:
AFC was established in 2007 and has been the catalyst for pragmatic infrastructure and industrial investments throughout Africa. AFC’s strategy combines specialist business experience with a deal with monetary and technical advisory, challenge structuring, challenge improvement, and threat capital to deal with Africa’s infrastructure improvement wants and drive sustainable financial progress.
Seventeen years on, AFC has developed a monitor document because the associate of selection in Africa for investing and delivering on instrumental, high-quality infrastructure property that present important providers within the core infrastructure sectors of energy, pure sources, heavy business, transport, and telecommunications. AFC has 43 member nations and has invested US$13 billion throughout Africa since inception.