Home / Knowledge / News / Textiles / Senegal's SODEFITEX plans diversification of activities
Senegal's SODEFITEX plans diversification of activities
22
May '14
Textile Fibres Development Corporation of Senegal (SODEFITEX) has announced that it has engaged in a process of diversification of its activities and has developed a strategic plan ‘SODEFIX 2020’, Senegalese Press Agency APS reported.
 
SODEFITEX CEO Ahmed Bachir Diop said they cannot just settle being a cotton company, and have developed a strategic plan with guidelines that will expand other agricultural crops in the country.
 
The strategic plan was unveiled at SODEFITEX’s headquarters in Dakar during a ceremony to mark 40 years of the company’s existence, since it was established by the Senegalese Government in March 1974.
 
SODEFITEX decided to diversify because the price of cotton is subject to volatility, which cannot be controlled. If everything is invested in cotton, there may arise enormous difficulties, Mr. Diop said.
 
Hence, SODEFITEX has decided to work on other crops, along with growing cotton, while working with farmers. The plan is based on consolidating the strengths and reducing the risks associated with growing only cotton, said Mr. Diop.
 
The strategic plan for 2014-20 also stresses on enhancing the quality of cotton fibre through investing in research.
 
Lamine Lô, Chief of Staff of the Minister of Agriculture, said the diversification of SODEFITEX would enable job creation and distribution of higher income.
 
However, Moussa Sabaly, president of the National Federation of Cotton Producers, warned that the diversification plan could result in risk diversification.
 
In 1992, Senegal produced a record cotton output of 50,000 tons, but production declined thereafter.
 

Fibre2fashion News Desk - India


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search