Textile specialist company ITC Rmg to set up 750 Flat knitting machines in the Adetikope Industrial Platform in Togo

Economy

Monday, 11 October 2021 17:39

Textile specialist company ITC Rmg to set up 750 Flat knitting machines in the Adetikope Industrial Platform in Togo

(ARISE IIP) - PIA is pleased to announce the creation of a world-class knit garment within it’s industrial zone unit named ‘Togo Clothing Company’. The total investment is valued at USD 35 million and is expected to generate USD 40 million worth of export value on an annual basis and 2,000 direct jobs.

Togo Clothing company (TCC), has been created by ITCRmg, a company who has a solid track record in knit garment manufacturing and trading and global buyers such as Ellesse, Beverly Hills Polo Club, Kappa, Louis Philippe, and many more.

TCC will be part of PIA’s state-of-the-art sustainable textile park which will provide services along the cotton value chain from traceable cotton supply, renewable energy (including solar panels) and best in class logistic infrastructure. The garment unit construction will start in November 2021 and is expected to start operations in May 2022. Once completed, the factory will comprise a total of 750 flat knitting machines and is expected to generate 2,000 direct jobs.

TCC will meet the highest social and environmental standards and shall create a game-changing sustainable model for textiles in West Africa. The output price-competitiveness is expected to be in line with international competitors such as India, Bangladesh, Cambodia, and China.

Sani Yaya, Togolese Finance Minister

fitch ratings 3

“The creation of the Togo Clothing Company is the achievement of a significant milestone for the recently-launched Adetikopé Industrial Platform. This success is aligned with the president’s vision to position Togo as a regional hub in the textile industry. This achievement demonstrates what bold and agile investors can do in Togo.”

Zahir Sait, CEO, International Trading Company Rmg

fitch ratings 4

"Togo Clothing Company is a milestone achievement both for Togo and ITCRmg. This new manufacturing facility is going to generate thousands of jobs locally. Special emphasis would be in women empowerment. Technical training in apparel manufacturing, skill development and streamlining the local supply chain resulting in increased margins and reduced carbon footprint as part of our sustainability initiative would be the immediate highlights of the project »

About PIA

The Adetikope Industrial Platform (PIA) is a public-private partnership between the Republic of Togo and Arise Integrated Industrial Platforms (IIP). Arise IIP develops, finances, builds, and manages this industrial platform, which is dedicated to enabling the processing of Togo’s own natural resources and agricultural exports. PIA focuses primarily on cotton, agro-processing, logistics and other industries (electric mobility, etc.). Operations started in June 2021. PIA is anticipated to generate a significant social and economic benefit for Togo with over 100,000 jobs to be created including industrial jobs for women.

About ITCRmg

International Trading Company (ITCRmg) is an India-based textile manufacturer. Since 2001 the company has produced a wide range of knitted products: sweaters, pullovers, cardigans, scarves, gloves, and caps for men, women, and children. ITCRmg supplies well-known international clients (Macy’s, Van Heusen, Tommy Hilfiger, Louis Philippe). The company operates four production units in India

ARISE IIP: www.ariseiip.com

PIA: https://pia-togo.com

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REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.