Africa's fashion industry is experiencing rapid growth, but it lacks the necessary investment to reach its full potential, according to a recent UNESCO report released during Lagos Fashion Week.
Currently valued at $15.5 billion in annual exports, the continent's fashion industry could triple its earnings over the next decade with the right investment and infrastructure, says the United Nations cultural body.
The growth of the industry is driven by the increasing recognition of the value of Nigerian culture and the fashion industry in particular. Fashion designer Ejiro Amos-Tafiri states that people are now realizing the treasure that lies within Nigerian culture and fashion.
Across Africa, fashion is growing in various forms, including movies, textiles, garments, accessories, and fine crafts, all of which have a rich history and are symbolic of African culture.
This growth is supported by the social nature and bold personality of African people, according to Amos-Tafiri. The demand for African fashion brands is also boosted by the rise of e-commerce, as Africa leads the world in mobile device web traffic.
This has created more marketing opportunities, with young people in Nigeria and across the continent using social media to open fashion brands. One example is Ozinna Anumudu, who founded the online fashion store ozinna.com.
She highlights the exponential growth of the Nigerian fashion industry in the last decade, with social media playing a significant role in expanding its reach.
The annual fashion show during Lagos Fashion Week showcases a mix of designers from across the continent, providing a market for local brands and celebrating African culture and crafts in various styles and colors.
