Agribusiness
AfDB and Afreximbank provide €25 Million to Turkey’s Ayka Textile in Burkina Faso

AfDB and Afreximbank provide €25 Million to Turkey’s Ayka Textile in Burkina Faso

According to information obtained by Jeune Afrique Business +, Yusuf Aydeniz, the founder of the Turkish group Ayka Textile Investment, has concluded an agreement for €25 million, provided by the African Development Bank and Afreximbank, to start work on the industrial complex for the manufacture of clothing in Burkina Faso.

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            ▪ AfDB and Afreximbank provide €25 Million to Turkey’s Ayka Textile in Burkina Faso

▪ According to information obtained by Jeune Afrique Business +, Yusuf Aydeniz, the founder of the Turkish group Ayka Textile Investment, has concluded an agreement for €25 million, provided by the African Development Bank and Afreximbank, to start work on the industrial complex for the manufacture of clothing in Burkina Faso.

http://www.jeuneafriquebusinessplus.com/en/802750/la-bad-et-afreximbank-apportent-25-millions-e-au-turc-ayka-textile-au-burkina/

03/02/2020 at 09h02, by Jeune Afrique Business+

The agreement was signed by Atsuko Toda, AfDB Director of “Agric Finance” and Yusuf Aydeniz on the one hand, and by Ibrahim Sagna, Afreximbank Investment Bank Director on the other, on the sidelines of the International Cotton and Textile Fair in Koudougou (Centre-West). According to our sources, the two institutions thus take the financial lead of the Ayka Textile project which was announced in 2018 but had not made any significant progress since. “This agreement allows us to operationalise this project through the construction of an industrial unit specialising in clothing manufacturing in Koudougou and Bobo-Dioulasso,” explained a source close to the deal.

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