Nipate
Forum => Kenya Discussion => Topic started by: Globalcitizen12 on March 14, 2016, 06:32:17 PM
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I know we missed the bus on Agoa, since most of the quotas are being filled illegally by Asian countries. My question is there a way to revive the local textile industry for intra Africa trade and make it competitive? I know there stories like this but is there any policy being put together to see a vibrant industry revived and not like the short live 1973 experiment that saw Europe dump her old obsolete machines in Kenya market under Kenyatta.
http://www.nation.co.ke/oped/blogs/dot9/ndemo/-/2274486/3116262/-/cq7o2h/-/index.html
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India is pumping billions into Rivatex ...unless they get stolen these should be turning point... we need to buy quality Kenyan shirts... there is no magic in some of these things
http://www.businessdailyafrica.com/India-advances-Sh10-5bn-loan-for-Rivatex-expansion/-/539546/2884838/-/8rba0iz/-/index.html
The Indian High Commissioner Yogeshwar Sharma said his country has approved $100 million (Sh10.5 billion) to help in expanding operations of the textile firm.
http://www.nation.co.ke/business/corporates/Rivatex-gets-Sh3bn-loan-for-purchase-of-new-machines/-/1954162/3116434/-/h0lnq1/-/index.html
The Rift Valley Textile (Rivatex) East Africa has received a Sh3 billion loan from the Indian government through the Exim Bank to purchase new machines.
interesting that India processes its money through Exim