Backing Ghana’s ambition to become a regional textile and apparel manufacturing hub, the IFC today announced a partnership with DTRT Apparel Group that will support the expansion of the company’s garment production capacity and create thousands of jobs.
Under the partnership, IFC will lend DTRT up to $8 million, including $4 million from IFC’s own account and $4 million from IFC in its capacity as the implementing entity of the International Development Association’s Private Sector Window.
DTRT will use the funds to expand its garment manufacturing capacity in Ghana’s Greater Accra region, supporting the creation of more than 6,000 jobs over the next six years.
IFC will also provide DTRT, West Africa’s largest apparel manufacturer, with advisory services to help the company further strengthen its support for women in its workplace.
DTRT currently employs more than 5,000 workers — predominantly women — at its factories in Ghana, making it one of country’s largest private-sector employers. Despite challenging conditions brought on by COVID-19, the company retained all its staff through the pandemic by pivoting to producing personal protective equipment to support frontline workers.
“DTRT is excited to partner with IFC on our garment expansion initiatives. IFC’s investment will enable us to expand our factory capacity, add new production equipment, and most importantly, to create good jobs for thousands of people in West Africa that will, in turn, allow them to develop new skills and invest in their own families and futures,” said Marc Hansult, DTRT’s Co-Founder and Co-CEO.
“The export-oriented apparel manufacturing industry is an important source of employment and skills development, particularly for women,” said Kyle Kelhofer, IFC’s Senior Regional Manager for Ghana. “DTRT is demonstrating the potential of this industry in Ghana, and its power to drive inclusive growth.”
DTRT’s vision, with IFC’s support, is to lay the foundation for an integrated textile and garment value chain in West Africa.
The textile and apparel industry has been a key driver of exports, economic growth and higher-value manufacturing in many fast-developing countries, especially in Asia, creating tens of millions of jobs directly and indirectly.
IFC’s investment and advisory support announced today builds on a partnership between IFC and DTRT announced in March to develop a sustainable fabric mill in Ghana.
With IFC’s support, DTRT is also exploring the potential to produce synthetic fibers and yarns—including from recycled materials—to further advance West Africa’s position as a globally competitive textile hub while contributing to environmental restoration and climate change mitigation.
Source: World Bank
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