The African Export-Import Bank (Afreximbank), alongside its partners, Société d’Investissement et de Promotion de l’Industrie (SIPI-BENIN S.A.) and Panafritex, hosted the Special Economic Zones Investment Forum on October 21 and 22 in Cotonou, Republic of Benin.

The forum, with the theme “Investing in Local Processing and Industrialisation,” brought together investors, manufacturers, buyers and top development finance institutions to discuss opportunities for local processing and industrial investment across the continent.

Afreximbank’s regional director of operations for Francophone West Africa, Jean Arsene Yemina,

highlighted the bank’s role in supporting Benin’s textile industry, which has become a major driver of the country’s industrial development.

“Here in Benin, the textile industry has become the driving force behind this transformation,” Mr Yemina said. “The Glo-Djigbé Industrial Zone was created through a partnership between the Government of Benin and ARISE IIP, and Afreximbank is proud to have helped finance its establishment.”

He stated, “Today, the zone is home to West Africa’s first fully integrated cotton-to-garment manufacturing platform, operated by Benin Textile (BTEX). The entire value chain, from ginning and spinning to weaving and finished garments, is carried out on African soil by African hands. Before the creation of the GDIZ, less than one per cent of Benin’s cotton was processed locally. In just three years, the zone has come to process approximately 40,000 metric tons of cotton—nearly 12 per cent of national production—and to produce millions of “Made in Benin” garments for major international brands such as US Polo, Kiabi, and H&M.”

Mr Yemina spoke on behalf of Afreximbank’s executive vice president, intra-African trade and export development, Kanayo Awani.

Director general of SIPI-BENIN S.A., Létondji Beheton,

said African countries must move beyond exporting raw materials and focus on processing them locally to strengthen value chains and retain more wealth on the continent.

Mr Beheton said the era of producing raw materials for export was over.

African countries should focus on processing raw materials locally to bolster our value chain and retain more wealth.

Mr Beheton stated, “Our ambition can no longer be limited to producing and exporting raw materials. We must go further by processing more of these resources on our continent, developing competitive industries, strengthening our value chains and retaining a greater share of the wealth generated from our natural resources.”

He added: “It is against this backdrop that the Glo-Djigbé Industrial Zone (GDIZ) was established, as the outcome of a public-private partnership between the Republic of Benin and ARISE Integrated Industrial Platforms (ARISE IIP). This integrated industrial platform embodies a shared commitment to making local processing a driver of economic growth, job creation and industrial development.”