Committed to backing textile sector investment: Ethiopian minister

The Ethiopian government is committed to supporting and encouraging investment in the country’s textile sector, especially in companies engaged in exports and employing youth and women.  according to state minister of finance Semereta Sewasew. 

She said this at a discussion held with Ashish Agarawal, chief executive officer and managing director of Kanoria Africa Textiles. 

Both sides agreed to jointly work to attract more investment to Ethiopia and to work for more access to various markets, a news agency reported.

Set up in 2012, the denim manufacturing company was officially inaugurated in October 2015 and started commercial operation in April 2016. Located at Keta Industrial zone, the company employs around 1,200. 

Cotton is the major raw material for the company and involves thousands of farmers across the country in Gambella, Afar, Metema, Gondar, Arbaminch and Humera & Dansa. Other raw materials like dyestuff, chemicals and stretch yarn are imported.