ADDIS ABABA, Ethiopia, May 11, 2016/APO (African Press Organization)/ —
Swedish fashion outfit, Hennes Mauritz popularly known as HM, is heeding the call of the African Union to boost industrialisation, job-creation and increase Foreign Direct Investment in Africa as the continental Agenda 2063 rolls out. With an established production line in Ethiopia, HM plans to expand into other parts of the continent, starting with countries in East Africa.
The Director of HM, Tobias Fischer, presented the vision of the company to the African Union Commission Chairperson, Dr. Nkosazana Dlamini Zuma, when they met at the AU Headquarters in Addis Ababa, Ethiopia, on Tuesday, 10 May 2016. The HM Director was together with the Swedish Ambassador to Ethiopia and Permanent Representative to the African Union, Mr Jan Sadek.
According to Amb. Jan Sadek, the HM production initiative could be of great interest to Africa as it offers numerous opportunities for entrepreneurs across the continent and upscale supply chain. “Linking Agenda 2063 to concrete facts like building light industry would increase job creation and bring in much needed hard currency,” Amb. Sadek highlighted.
The AU Commission Chairperson expressed her delight in seeing the business take root in Africa, establish, grow industries, as well as create investment and job opportunities. She noted the importance of paying particular attention to the youth and women and involving them across the value chain.
The expansion of HM operations to Africa provides an opportunity to reach out to the African population with quality and affordable products. The establishment of fabric mills for the industry provides a huge opening for the production of cotton, which is currently being imported from India and China. HM plans to build on its successes and lessons learned in Asia, to create great opportunities for women and girls in Africa.
According to its Africa Director, HM has over 4,000 stores globally, directly employing more than 45,000 staff. Its production had hitherto been confined to Asia and has recently expanded to South Africa, and now Ethiopia.
