Boost for African cotton production
Better Cotton, in collaboration with Afreximbank, is working with the World Trade Organisation(WTO) to increase cotton production in Nigeria and the rest of Africa.
Nigeria’s cotton market has witnessed a marginal rebound after the Central Bank of Nigeria(CBN) blocked traders from having official access to forex for the importation of textiles into the country.
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To increase production, African Export-Import Bank (Afreximbank) has developed an African Cotton Initiative (AFRICOTIN) to help to catalyse the African cotton sector to enable the value chain to provide income for millions of people in Africa.
Afreximbank had a cotton pipeline of about 400 million Euros, including $195 million in textile and cotton Parks in Burkina Faso and textile and garments industrial parks in Nigeria.
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