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A model apparel manufacturing factory is to be set up in Ghana aimed at accelerating women’s economic empowerment in the sector by setting high standards for fair wages and healthy working conditions.
Established by the US Agency for International Development (USAID)-funded West Africa Trade & Investment Hub (Trade Hub), the facility will utilise Women’s Global Development and Prosperity (W-GDP) funds. It will employ 800 new staff, placing women in at least 70% of new supervisory and factory jobs.
Under the co-investment partnership with the Trade Hub, Ethical Apparel Africa, which works to enable market access for African production, will receive a US$1.35m grant underpinning an equity investment in garment manufacturer Maagrace’s Koforidua factory. Co-funded by USAID/Ghana and USAID/West Africa, the partnership will expand Ghana’s apparel manufacturing industry by providing modern equipment and technical expertise to Maagrace.
The USAID-funded West Africa Trade & Investment Hub in partnership with DFC, has announced its first co-investment project with Stichting Cordaid to increase the access to finance by small and medium sized enterprises (SMEs) and microfinance institutions (MFIs) in Burkina Faso, Guinea, Mali, and Sierra Leone.
The co-investment will generate up to $37m of new private investment into these countries to support local economies, create over 20,000 direct and indirect jobs, and increase the value of exports over the duration of the activity by $30m.
This collaboration also aims to promote two-way trade and investment between the United States and West Africa in accordance to the Prosper Africa initiative promoted by the US government.
West Africa Trade & Investment Hub Co-Invests with Ethical Apparel Africa to Increase Garment Production in Ghana
Women’s Global Development and Prosperity Fund supports creation of over 550 new jobs for women LISTEN
JAN 28, 2021
The U.S. Agency for International Development (USAID)-funded West Africa Trade & Investment Hub (Trade Hub), utilizing Women’s Global Development and Prosperity (W-GDP) funds, will establish a model factory with Ethical Apparel Africa and Maagrace Garment Industries in Ghana’s Eastern region. This partnership will accelerate women’s economic empowerment in the apparel manufacturing industry by setting high standards for fair wages and healthy working conditions for 800 new employees
Sierra Leone Telegraph: 26 January 2021:
The USAID-funded West Africa Trade & Investment Hub has announced its first co-investment project with Stichting Cordaid (Cordaid), managed by Cordaid Investment Management B.V. (CIM), to increase access to finance by small and medium sized enterprises (SMEs) and microfinance institutions (MFIs) in Burkina Faso, Guinea, Mali, and Sierra Leone.
This two-way trade in the fragile Sahel region of West Africa aims to combat high rates of poverty, unemployment, conflict, and desertification through private sector investments, targeting both women and youth.
Because of this public-private partnership, the co-investment will generate up to $37 million of new private investment into these countries to support local economies, create over 20,000 direct and indirect jobs, and increase the value of exports over the duration of the activity by $30 million.
Le West Africa Trade & Investment Hub Co-Investit avec Cordaid pour Accompagner les PME dans la Région kababachir.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kababachir.com Daily Mail and Mail on Sunday newspapers.