WHY THE WORLD SHOULD INVEST IN AFRICAN FASHION

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WHY THE WORLD SHOULD INVEST IN AFRICAN FASHION
 

Africa’s economy has continued growing rapidly on the back of success recorded in some sectors like manufacturing, which has now beamed light on the importance of the continent’s fashion industry and the immense opportunities inherent therein.

Investors are being reminded again of the golden opportunity yet to be effectively exploited in the continent’s fashion industry.
The continent has shown eagerness to develop its clothing (apparel manufacturing) capacities for some time now but efforts have been frustrated by dearth of infrastructure, capital and Asia’s domination of the industry globally.

However, with cost of production rising in China, Africa may have been presented a golden opportunity to ‘reclaim’ its fashion industry and invite long term Investments..
Africa is home to seven fastest growing economies in the world and  about 70percent of the continents’ population live in countries that have experienced average growth in excess of 4 percent over the past decade. Although the statistics are interesting, African fashion industry currently contributes only a small fraction of what it is capable of contributing to the continent’s GDP says Deola Sagoe, a Nigerian designer, who has been a force in the industry for the past 25 years.
According to Sagoe, African fashion can become a $15.5 billion industry in the next five years, as personal income increase and the continents economies grow. The International monetary Fund (IMF) has projected that sub-Saharan Africa would continue its impressive economic growth in 2014, picking up from 4.9 percent in 2013 to about 51.2 percent this year. This growth highlights the potentials of the industry, which has been said to be yet to reach its full potentials.
African fashion has enjoyed massive media presence in recent times, which meand the world is now aware of the industry and the capabilities of its designers. Several designers from the continent today feature in international fashion shows: 10 African designers are participating at the African Fashion Week New York, which joined the prestigious New York Fashion week. Fashionistas around the world and prospective investors alike have had another opportunity to see African creativity first-hand.
The success of some African designers on the international scene has shown the world that given the right investment, African designers can compete on the world stage. Investors sure have been watching the industry for a while and have watched it grow this much. Now is the time to invest.
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PROFILE OF IKECHUKWU ANYANWU Ikechukwu Anyanwu is an Imo State born Nigerian. An Author, Public Speaker, Humanitarian, Blogger, Media Guru and Start-up Coach. He has inspired millions through Arise Africa Network Platform He Is Into Education, Media, Entertainment, Showbiz and Hospitality Industry. Having calved a nitche for himself as a leadership expert, human capital development and management consultant. He is currently the Chairman, Online Media practitioners Association of Nigeria, Imo State Chapter. Ceo Arise Africa Magazine, Founder Arise Africa Network – a non-profit organization. Face of Arise Africa, Managing Consultant GCFN Consult. Member, Imo State Bloggers Association. Ag National President, Association of Pageant CEO’s of Nigeria Human Resource Specialist and Leadership Coach with astute impact on many seeking to maximize their skills, intellectuals and innate potentials He has a track record of reproducing leaders and helping them to gain dominance within their nitch. Mr Anyanwu after a rich career that spanned for 18 years having worked as Human Resources Manger, Outlet Manager Rennys Foods Limited from 2004 – 2019, Management Consultant for various Quick Service Restaurants in Abuja, Enugu, Rivers State, Abia, Ebonyi, Kogi and Imo State is now focusing on helping young people to discover, develop their talents. He has built lots of platforms for young people of Africa to express their talents. He is passionate about writing, consulting, coaching and training. He blogs regularly via www.ariseafrika.com and has a thriving social media followership. He is a graduate of Sociology/Anthropology, Imo State University whose passion is to impart knowledge by educating, equipping and empowering young minds for the future. He is an alumni of Living Word Training Center He is also the West African Representative of All African Media Networks He is married to Mrs Carol Anyanwu and blessed with 3 sons.

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