Share FacebookTwitterPinterestLinkedinWhatsappTelegramEmail 335 African fashion has boomed in recent years, fuelled by the rise of Afrocentrism and changing perceptions of the continent. Today fashion designers are leveraging its rich cultures, history, and fabrics to create a name for themselves. The apparel and footwear industry is also seeing growth and is estimated to be worth US$31bn in sub-Saharan Africa, according to the research group Euromonitor. Ethiopia’s low-cost textile industry has recently attracted interest from foreign retailers – the industry has experienced growth of 51% over the past six years. H&M and Tesco are already sourcing garments from the market, while PVH Corp (which owns the Calvin Klein brand) has recently set up a factory in Ethiopia’s Hawassa Industrial Park, a mega facility located 275km southeast of the capital, Addis Ababa. More Articles You Would Love From Louis Vuitton Runway Show To Daily Paper, Gh Model Ottawa Knocks Out Another Big Job Curvy Ghanaian Actress Moesha Boduong Is Cleaning Up Her Style And We Are Loving It Mauritius is Africa’s leading manufacturer and seller of apparel abroad – accounting for $761.3m in apparel exports, according to the African Development Bank (AfDB). And in Lesotho, apparel makes up 60% of total exports and 80% of its manufacturing workforce. But despite this, Africa’s clothing and fashion industry is still in its infancy. For example, the 10 largest textile exporters make up only 0.5% of worldwide textile production, reveals the AfDB. And although the continent produces 10% of the world’s cotton, much of this is exported to Asian markets, where it is spun into yarn and then woven into fabric. Not enough value is added on the continent. Furthermore, while the AfDB estimates Africa’s fashion industry could be worth $15.5bn over the next five years, this is only a small share of the industry’s global value of $1.3tn. High operational and logistical costs, alongside little government support, are some of the major limitations facing the industry. As a result, 90% of African fashion businesses are SMEs that lack the funds, skills, and support to grow beyond the small stage and to scale operations. In an effort to address this, the AfDB is launching its Fashionomics B2B platform – which looks to build up African fashion in the global value chain. The platform will be made public in the first quarter of 2017 and aims to strengthen each link of the value chain – from cotton farmers to fashion designers. Read Full Article Here Ghana Economics & Politics african fashioneconomicsfashion Share FacebookTwitterPinterestLinkedinWhatsappTelegramEmail Afua Akoto More For You Farewell to a Trailblazer: Guinea-Bissau’s Dina Adão Passes Away, Leaving a Legacy On... VIDEOS: Watch Chidimma Vanessa Celebrate At Miss Universe 2024 Whilst Dancing To Ghanaian... Africans Have Proudly Accepted Trick Daddy’S Claim As A Non ‘African American’ –... Stunning Cassandre Jacques Exits Miss World Dominican Rupublic Amid Uproar Over Haitian Heritage... #MODELCRUSH: Senegal’s Rising Star Ndey Touty Sakho Checks All Beauty Boxes & Effortlessly... VIDEO: “Are You Happy Sleeping With A Married Man?” Designer Gracelyn Quansah Walks... 6 Tips to Help You Take Care of Your Curly Hair VIDEO: Watch The Moment Miss Grand Ghana 2024 Won Best Evening Gown VIDEOS: Watch Davido Kingly Strutt Down The Lagos Fashion Week 2024 Runway Showing... Jewelry Trends We’ve Been Seeing for Winter