IFC and Star Garments Partner to Expand Textile and Apparel Manufacturing in Togo
To boost textile and apparel manufacturing in Togo, IFC today announced a financing package for Star Garments Group Limited to help the company build Togo’s first large-scale, export-focused apparel manufacturing center, creating thousands of local jobs.
IFC’s $15 million loan will provide Star Garments, a leading Sri Lanka-based apparel manufacturing company and a fully owned subsidiary of the U.S.-based, global apparel industry leader Charles Komar & Sons, with funding to build a greenfield clothing factory in Togo that is expected to create 4,520 direct and indirect jobs, especially for women, and generate significant export-oriented value addition by 2030. This investment marks Charles Komar & Sons and Star Garments’ first venture into Africa.
Photo courtesy of Cytonn Photography.
Source: International Finance Corporation (link opens in a new window)
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- employment, manufacturing, partnerships, scale
