Chinese conglomerate Jiangsu Sunshine Group announced in a statement published on April 7 it will invest $359 million to build a textile factory in Ethiopia.
The factory should be established in the Adama industrial park (about 100 km South East of Addis Ababa) over an area of 4.5 hectares. It should in the long term produce 10 million m of combed wool fabrics and 1.5 million finished units.
Established in 1986, Jiangsu Sunshine Group deals mostly in the power production, pharmaceutical products, housing and textile-clothing sectors.
Ethiopia over the past years has attracted many foreign companies operating in textile-clothing sectors including Turkish giant Akber, Indian ShriVallabh Pittie (SVP), Chinese Zhejiang Jinda Flax, Korean Myungsung Textile Company, Taiwanese George Shoe Corporation.
The country relies mostly on cheap labour, improved power supply chain and its road and ports infrastructures which are in good shape. According to a study by consulting firm Bernstein, manufacturing clothes in Ethiopia costs twice less than in China.
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
• Google unveils Veo 3, its latest AI tool for ultra-realistic video generation• Experts warn deepfa...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...
• Modi’s African tour marks first visit by an Indian head of government to Ghana in 30 years.• These visits aim to boost economic, energy, defense, and...
• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to boost trade, security, and technology cooperation.•...
Kenya exports far more tea by volume than China and Sri Lanka but earns less revenue. Heavy reliance on bulk sales, a narrow product range, and...
UK, Kenya, and Singapore launch coalition to restore trust in voluntary carbon markets. Market value plummeted by over 70% since 2021 amid...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...
Lake Natron, located in northern Tanzania near the Kenyan border, is one of the most extraordinary and extreme lakes in Africa. Fed primarily by the Ewaso...