Islamic bank to help Mozambique in the cotton industry

28 May 2014

The Islamic Development Bank (IDB) plans to help Mozambique to process the cotton it produces rather than exporting it raw for processing abroad, Ali M. Khan, the ADB’s representative said recently.

Figures published at a Conference for Cotton and Textile Investors, held last week in Maputo, showed that Mozambique produces 100 thousand tons of cotton per year, which is exported as seed cotton to a number of countries.

Ali M. Khan said that the IDB also believed that cotton was an important product for Mozambique’s economy, particularly because it occupies a significant part of the population.

It is estimated that cotton provides an income to around 250,000 families and business to 14 companies. Along its value chain it has created more than 15,000 jobs and is therefore one of Mozambique’s most important export products.

“In fact, holding this conference is an indication that Mozambique is focused on developing the cotton sector,” said Khan, according to daily newspaper Notícias.

The conference, as well as government officials, brought together representatives of cotton production companies and national and international investors interested in the sector. (macauhub/MZ)