By Jasmin Malik Chua, Source: Ecouterre

HM

H&M has its eye on Africa. It’s not the only one, either. Swedfund, a state-owned risk-capital firm that specializes in emerging company, is throwing its financial clout behind the Swedish retailer in a partnership designed to develop a “responsible” Ethiopian textile industry. Beginning this fall, the joint effort seeks to build a system of production that adheres to high social and environmental standards. A strong domestic industry is vital to job creation in the sub-Saharan nation, which ranks among the world’s poorest.

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