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IDC to invest R12 billion for textile and clothing industry

Published on June 09, 2016

 

The Independent Development Corporation (IDC) says it has invested about R12 billion in the textile and clothing industry in 2015. The IDC is one of the exhibitors at Source Africa - the annual pan-African textile, clothing and footwear trade event that brings together manufacturers, buyers, suppliers and service providers from across the continent, Asia and even the United States of America,currently taking place in Cape Town. 

In 2016 the trade show has more of an international flavour with exhibitors from China and the USA. An exhibitor from USAID, Finn Holm-Olsen, says investment into Africa keeps expanding.

The Trade Promotion and AGOA Director, East Africa Trade and Investment Hub , Mr. Finn Holm-Olsen said,

Four or five years ago it was really a struggle to get buyers to come to Africa. That is not a problem anymore - they are coming in droves

 Read more. Source | SABC