The fashion industry in Africa is growing rapidly to meet local and international demand, but investment is lacking, according to a UNESCO report, released during Lagos Fashion Week, last Friday, in Nigeria.
Currently, the fashion industry’s revenues are valued at 15.5 billion dollars in annual exports, according to the report cited by Africanews.
According to the United Nations body, such revenues could triple over the course of a decade with investment and adequate infrastructure.
Demand for African fashion brands is also fueled by the growth of e-commerce, the report notes.
Nigerian designer, Ejiro Amos-Tafiri said that across the continent, fashion continues to grow on several fronts, including in cinema and films, as well as accessories and crafts, all with a long history of prestige and symbol of African culture.
Africa leads mobile web traffic in the world, according to the US International Trade Administration, says the source.