EQS-News: Africa Finance Corporation (AFC)
/ Key word(s): Agreement
Africa Finance Corporation (AFC) Signs Joint Declaration with the United Nations Industrial Development Organization (UNIDO) and Backs Cotton Partnership at World Trade Organization’s (WTO) Aid-for-Trade Global Review
Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has signed a joint declaration with the United Nations Industrial Development Organization (UNIDO) to enhance sustainable industrialisation and committed to support the 'Partenariat pour le coton' initiative, which seeks to enhance Africa’s role within the global textile and apparel value chains. Aligned with AFC’s commitment to drive Africa’s sustainable development, the declarations were signed at the ongoing Aid-for-Trade Global Review at the World Trade Organization (WTO) headquarters in Geneva, Switzerland. AFC’s work with UNIDO is aimed at advancing sustainable industrialisation in developing economies, with the two institutions focused on catalysing private investment across several sectors while supporting energy access and transition, industrial decarbonisation, and the development of agro-industries through mobilising the knowledge, expertise, and financial resources required to achieve the UN sustainable development goals (SDGs). Separately, AFC agreed to collaborate with UNIDO, the WTO, the International Trade Centre (ITC), the African Export-Import Bank (Afreximbank), and the International Islamic Trade Finance Corporation (ITFC) to support the 'Partenariat pour le coton'. This initiative aims to strategically position African nations – notably Benin, Burkina Faso, Chad, Mali, and Côte d'Ivoire – within the global textile and apparel value chains. The partnership will focus on constructing regional hubs for sustainable textiles to boost trade competitiveness and spur economic development within Africa’s cotton sectors. Supported by a joint declaration aligned with the UN SDGs, the initiative is committed to transforming the cotton industry by implementing sustainable practices, creating jobs, empowering women and youth, and enhancing technology and infrastructure. 'Partenariat pour le coton' extends AFC’s already significant role in transforming Africa’s textiles industry through investee company ARISE IIP’s Glo-Djigbé Industrial Zone (GDIZ) in Benin Republic. The GDIZ hosts a textile manufacturing plant that processes locally sourced raw cotton to create finished t-shirts for sale in domestic and international markets. The GDIZ’s 'Made-in-Benin' t-shirts now retail at The Children’s Place Store in the US, and it recently exported 80,000 children's leggings to the French brand Kiabi. This milestone showcases the significant potential of Africa's textile industry and marks a major step in integrating Benin Republic into the global textiles and clothing market. AFC’s President & CEO, Samaila Zubairu said: "These joint declarations are a reaffirmation of AFC's commitment to driving sustainable development in Africa. By partnering with esteemed global organizations such as UNIDO and supporting transformational initiatives like the 'Partenariat pour le coton,' we are setting the stage for rapid economic and industrial advancements that will create quality jobs and wealth.” AFC’s recently published "State of Africa’s Infrastructure Report 2024" identified significant infrastructure gaps and, correspondingly, immense investment opportunities in key sectors including power, transport, and digital communications. Distributed by APO Group on behalf of Africa Finance Corporation (AFC). Download image 1: https://apo-opa.co/3RTsPis (AFC partners with UNIDO and key global organizations to enhance sustainable industrialization and support Africa’s cotton sector through the 'Partenariat pour le coton' initiative) Download image 2: https://apo-opa.co/3RPRwML (AFC partners with UNIDO and key global organizations to enhance sustainable industrialization and support Africa’s cotton sector through the 'Partenariat pour le coton' initiative) Media Enquiries: About AFC: AFC was established in 2007 and has been the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth. Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 43 member countries and has invested US$13 billion across Africa since inception. www.AfricaFC.org
04.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
1939831 04.07.2024 CET/CEST
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.