Business Hilights
Tracking Nigeria's Headline Business News Online

Advert space

Advert space

W’African textile, garment industry game changer for ECOWAS—Report

A new focus report produced by Oxford Business Group (OBG), examines the potential that the West African textile and garment industry holds to become a driver of sustainable growth and major employer across ECOWAS.

Titled “West Africa Textiles and Garments”, the report provides in-depth analysis of the industry’s history and prospects for development, together with the challenges it faces, in an easy-to-navigate and accessible format, featuring key data and infographics.

The report notes that with only 2% of the raw cotton grown in West Africa processed locally, the scope for strengthening the textile value chain is huge.

It also highlights the importance of attracting investors for private-public partnerships (PPPs) to facilitate the development of essential infrastructure, logistics and industrial zones for the industry.

Here, subscribers will find case studies of countries where PPPs are already delivering results, including the recently inaugurated Plateforme Industrielle d’Adetikopé and its Textile Park in Togo, which is a collaborative venture between Arise and the government, and is flying the flag for sustainable industrial development in West Africa.

In addition, the report considers the contribution that sustainable, value-added economic activities amongst local communities could make to Africa’s efforts to reduce carbon emissions and tackle climate change at a time when environmental, social and governance (ESG) issues have become a top priority.

Bernardo Bruzzone, Africa Regional Editor for Oxford Business Group said: “While West Africa is the world’s sixth-largest cotton grower, 90% of the raw product is exported to Asia to be made into finished goods. In a moment where supply chains have been disrupted by the Covid-19 pandemic, highlighting an increasing need to reduce global transports and companies’ carbon footprints, and with the entry into force of the African Continental Free Trade Area , this is a key moment to invest in the West African textile sector”, he said.

Karine Loehman, OBG’s Managing Director for Africa, said that although textile manufacturing in West African countries remained largely focused on the export of raw cotton, a gradual shift towards producing finished items was taking shape.

“With its access to an abundance of raw material (CMIA Certified), competitive wages & strategic location, West Africa is well placed to develop its textile industry,” she said. “Introducing value-added steps into the supply chain, such as spinning, weaving, dyeing, printing, finishing & garmenting, will provide local economies with a significant boost, while also helping to reduce imports from the Asian markets.”

The focus report on Africa forms part of a series of tailored reports that OBG is currently producing, alongside other highly relevant, go-to research tools, including a range of country-specific Growth and Recovery Outlook articles and interviews.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More