Business News of Friday, 6 November 2020

Source: thefinderonline.com

Ghana’s textiles, garments industry get boost

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Ghana’s textiles and garments industry are set for exponential growth, thanks to renewed attention and support from the Ghana Investment Promotion Centre (GIPC) and the Ministry of Trade and Industry (MoTI).

At the first-ever garment and textiles investment meeting held by the GIPC in Accra yesterday, Chief Executive Officer of the GIPC, Mr Yofi Grant said the time was long overdue for Ghana to take advantage of the global garments market.

The theme for the meeting was " The Future of Garments and Textiles in Ghana’s industrialisation drive."

“Our plan has begun with a forum that assembles stakeholders to talk to each other exploit avenues for partnerships and then we at GIPC support them to reach the global market,” Mr Grant indicated.

Poised to raise valuable Foreign Direct Investment for the industry, the GIPC CEO said the aim of his outfit was to secure a structured approach into the global market.

Collaboration with Chinese

Mr Yofi Grant revealed that the Ministry of Trade and Industry had set up a platform and invited the Chinese apparel manufacturers to locate in Ghana and create the jobs in-country.

Taking advantage of AfCFTA

The African Continental Free Trade Area (AfCFTA), Mr Grant noted gave a ready opportunity to players in the garments and textiles to excel and make a difference.

Consultants engaged by the GIPC to research into the prospects of the garments industry had found that cotton in Northern Ghana was one of the most lucrative jobs one could find, with fabulous and amazing returns.

Mr Grant said it was important to take advantage of the returns and “expand our cotton production since we have a potentially vibrant textiles and garments industry.”

“I believe that we have a great opportunity to become a major exporter of textiles and garments; additionally, we have many young people in the garments industry and for us at GIPC partnering will create the linkages needed to break through the international markets.”

The jobs that could be created in the garments industry were immense, from production to sales.

Fashion Designer and Chief Executive Officer of Sleek Garments Export Limited Mrs Nora Bannerman also urged Ghanaian fashion designers to value partnerships and yearn to attend “big international fairs such as the ones put together by the GIPC.”

She stressed on mass production of garments, but with an eye on quality. “Currently Sleek Garments, with over 300 machines is supporting young fashion designers to excel at what they do and this is what we want all apparel manufacturers to emulate,” she noted.

The two-day virtual meeting creates a platform for the GIPC and key stakeholders in the garments and textiles industry, the Association of Ghana Apparel Manufacturers (AGAM) and the Cotton Development Authority to discuss a plethora of issues akin to the industry.

From an investment perspective, the Center will continue to lead discussions on how to leverage the enormous potential of the local garments and textiles industry to lure in needed investment and financial support.