Swedfund, a development finance institution and H&M have decided to work together for the development of a responsible Ethiopian textile industry in Ethiopia. Karl-Johan Persson, CEO at H&M said that “We see the cooperation as an opportunity to get involved in Ethiopia’s growing textile industry at an early stage and to contribute to more jobs. H&M will contribute expertise and knowledge of the textile market and will purchase products from suppliers that Swedfund will invest in.” On the other side, Swedfund will provide local market expertise and will invest in Ethiopian suppliers. Swedfund, owned by the Swedish state, provides risk capital, expertise and financial support for investments in the emerging markets of Africa, Asia, Latin America and Eastern Europe.
Also Read: Livia unveils M&S Collection
