November 7

Africa’s Fashion Industry Expanding Globally but Requires Increased Investment – UNESCO

By Rédaction Africanews

Africa’s fashion industry is growing rapidly to meet local and international demand but inadequate investment limits its potential, UNESCO said Thursday in a report released during Lagos Fashion Week.

Currently valued at $15.5 billion worth of exports annually, the earnings from the continent’s fashion industry could triple over a decade with the right investment and infrastructure, according to UNESCO Director-General Audrey Azoulay, who launched the organization’s first report on fashion in Africa in Nigeria’s economic hub of Lagos.

Photo courtesy of Mark Fischer.

Source: africanews (link opens in a new window)

creative economy, e-commerce, research