Economy News

Afreximbank: Africa’s Economy Grows 4.5% in 2025 Despite Global Trade Challenges

Africa strengthened its economic resilience in 2025, recording faster economic growth despite rising geopolitical tensions, slowing global demand and continued supply chain disruptions, according to the latest2026 African Trade...

Mohawk Cleared to Acquire Bremworth as Deadline Looms for New Zealand Wool Carpet Deal

Mohawk Industries has received regulatory approval to acquire Bremworth, bringing one of New Zealand’s best-known wool carpet manufacturers...

Ferraro S.p.A. acquires the “Finishing” business unit of Cibitex S.r.l.

Ferraro S.p.A. and Cibitex S.r.l. are pleased to announce the completion of the agreement pursuant to which Ferraro...

US Proposes New Tariffs on Seven African Countries Over Forced Labour Concerns

The United States is considering imposing an additional 12.5 percentage point tariff on imports from seven African countries...

Nigeria Textile Import Ban Proposal Raises Concerns Over ₦10 Trillion Garment Industry

The Centre for the Promotion of Private Enterprise (CPPE) has cautioned that the Nigerian Senate’s proposal to ban...

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Another Turkish Textile Giant Invests in Egypt: Ulusoy Tekstil to Launch $18 Million Project

Ulusoy Tekstil, one of Turkey’s leading textile manufacturers, is joining the growing list of Turkish companies investing in Egypt’s booming textile sector. The company...

Arab Bank “Best Bank in the Middle East 2025”

Arab Bank recently received the "Best Bank in the Middle East 2025" award from New York-based Global Finance magazine, reinforcing its strong leadership position...

China Backs Construction of Full-Cycle Textile Mill in Kazakhstan’s Turkistan Region

Kazakhstan is witnessing a significant boost to its textile industry with the construction of a full-cycle textile mill in the Turkistan region, supported by...

Eco-Innovation in Vietnam’s Textile and Garment Industry: A Driving Force for Sustainable Economic Growth

Vietnam’s textile and garment industry, one of the country’s key export sectors, is undergoing a crucial transformation fueled by eco-innovation. As global demand rises...

AfCFTA Faces Hurdles on Path to a Unified African Textiles and Apparel Value Chain

The African Continental Free Trade Area (AfCFTA) holds enormous promise for regional economic integration and industrial growth across Africa. But building a continent-wide textiles...

South Africa’s Clothing and Textile Sector Key to Economic Recovery, Says Deputy Minister Whitfield

The clothing and textile industry is poised to play a vital role in South Africa’s economic recovery and re-industrialisation, according to Deputy Minister of...

French Brand GEMO Begins Production in Benin’s Glo-Djigbé Industrial Zone

The Glo-Djigbé Industrial Zone (GDIZ) has officially welcomed GEMO, a major French ready-to-wear label, into its growing network of international textile partners. The move...

Kenyan Government Launches Textile Skills Program in TVET Institutions to Boost Industry Readiness

In a strategic move to align Kenya’s workforce with global apparel industry standards, the government has officially launched a Textile and Apparel Enhancement Programme...

OECD Forecasts Morocco’s Economic Growth to Reach 3.8% in 2025 and 2026

The Moroccan economy is projected to grow steadily at 3.8% in both 2025 and 2026, according to the latest economic outlook released by the...

Lesotho’s Textile Industry Faces Crisis as U.S. Tariffs Threaten Over 5,000 Jobs

Lesotho’s once-thriving textile sector is on the brink of collapse, with over 5,000 jobs at risk, following the imposition of a 50% tariff on...
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