H&M sees great potential for textile sector in Africa

Swedish fashion giant H&M sees huge promise in Sub-Saharan Africa for the textile industry, chief executive Karl-Johan Persson said Wednesday. "I think there is great potential for production in Sub-Saharan Africa," Persson told Swedish financial newspaper Dagens Industri. "We have started with small-scale production in Ethiopia and will see how it goes. It looks interesting." After placing test orders in Ethiopia last autumn, H&M plans to explore other areas in the region in the spring. "We are looking at several African countries, like South Africa," said Persson, who praised the business climate in the region. "Government officials, Swedfund (the Swedish government development bank) and the NGOs, they all welcome that H&M and other clothing manufacturers are coming in," Persson said.