The Chief Executive Officer of Exim Bank Ghana, Sylvester Mensah, has highlighted the vast potential within the garment and apparel industry, urging investors to capitalize on the opportunities it presents.
Speaking on the prospects of the sector, Mr. Mensah revealed that while the global textile and garment industry is valued at approximately $1.7 trillion, Africa accounts for only $34 billion of this market, with Ghana contributing a mere $40 million.
“Ghana has not been able to meet even 10 percent of the domestic demand in the garment industry,” he noted, emphasizing the significant room for local growth and production.
He further described the sector as one with a short gestation period, high employment potential, and strong profitability.
These characteristics, he said, make it an attractive option for investors and entrepreneurs alike.
Mr. Mensah therefore encouraged businesses and investors to explore opportunities within the garment and apparel industry, as it holds the promise of economic transformation and job creation in Ghana.
