Africa Finance Corporation (AFC), a leading infrastructure solutions provider in Africa, has forged a strategic partnership with the United Nations Industrial Development Organization (UNIDO) to advance sustainable industrialization.
The joint declaration, signed at the World Trade Organization’s (WTO) Aid-for-Trade Global Review in Geneva, Switzerland, underscores AFC’s commitment to supporting Africa’s integration into global textile and apparel value chains.
Central to this collaboration is AFC’s backing of the ‘Partenariat pour le coton’ initiative, which aims to enhance Africa’s textile competitiveness. The initiative targets countries including Benin, Burkina Faso, Chad, Mali, and Côte d’Ivoire and focuses on establishing regional hubs for sustainable textiles. These hubs are envisioned to stimulate economic growth, empower communities, and foster technological advancement within Africa’s cotton sectors.
The partnership aligns closely with AFC’s mission to drive sustainable development by mobilizing private investments and promoting energy access, industrial decarbonization, and agro-industrial development. It leverages AFC’s expertise and financial resources to achieve the UN Sustainable Development Goals (SDGs), aiming to transform the cotton industry through sustainable practices and infrastructure development.
A notable example of AFC’s impact is the Glo-Djigbé Industrial Zone (GDIZ) in Benin Republic, developed through its investee company ARISE IIP. The GDIZ hosts a textile manufacturing facility that processes locally sourced cotton into finished products for domestic and international markets. Recently, ‘Made-in-Benin’ t-shirts from GDIZ have entered prominent retail chains in the US and exported children’s leggings to France, showcasing Africa’s potential in the global textiles market.
Samaila Zubairu, President & CEO of AFC, emphasized the significance of these partnerships, stating, “These joint declarations reaffirm AFC’s commitment to driving sustainable development in Africa. By collaborating with global organizations like UNIDO and supporting transformative initiatives like ‘Partenariat pour le coton,’ we aim to catalyze economic growth, create quality jobs, and promote inclusive industrialization across the continent.”
AFC’s “State of Africa’s Infrastructure Report 2024“ underscores the immense investment opportunities in critical sectors such as power, transport, and digital communications, highlighting AFC’s pivotal role in bridging infrastructure gaps and advancing Africa’s development agenda.
