Over the next few years, Rieter, the Swiss leader in staple fibre yarn spinning technology, plans to establish cotton transformation plants across Africa, targeting a production volume of around 500,000 metric tonnes. This initiative is expected to create nearly half a million job opportunities.
In partnership with Arise IIP and the African Export-Import Bank, Rieter will contribute to the Africa Textile Renaissance Plan, which seeks to usher in a new era of textile manufacturing on the continent. Supported by $5 billion in funding, the plan aims to reduce Africa’s reliance on textile imports, increase exports to the USA under the African Growth and Opportunity Act (AGOA), and develop local expertise in machine repair.
Beneficiary countries will be selected based on factors such as power and gas availability, the presence of textile parks with standard infrastructure, or equity contributions. Training centres will be established to develop local skills and expertise. Additionally, the partnership will streamline funding for textile projects by offering standardised loan documentation, security packages, an expedited two-month application process, and standardised business plan templates.
Rieter also plans to establish a phased manufacturing presence in Africa, including a repair and maintenance facility at an Arise industrial park in Benin, a spare parts warehouse, and machine assembly operations.“The Africa Textile Renaissance Plan represents a significant milestone in the continent’s industrial development, said Gagan Gupta, CEO and founder of Arise IIP. “I’m convinced that this initiative will not only boost local manufacturing and create thousands of jobs but also position Africa as a global leader in sustainable textile production.”
We are thrilled to support this important initiative with our commitment, expertise and consulting knowledge,” added Rieter CEO Thomas Oetterli. “We are convinced that the Africa Textile Renaissance Plan marks an important starting point for the future development of the textile industry in Africa.” (1)
