The Fashion Industry in Africa.
Fashion industry is a sector that has proved to be a juggernaut over the years since it meets the needs of people, not only locally but also at a global stage.
This is because people need clothes, which is considered a basic commodity and also for different occasions or events.
Africa is a continent with developing economies and as such offers a great platform for myriads of industries to thrive, and fashion is no exception.
The fashion industry in Africa has a lot of untapped potentials. According to some investors, it is an industry that has shown eagerness to grow.
However, some challenges such as poor infrastructure, lack of capital, poor technology among others have vexed the industry .
In spite of these setbacks, fashion industry is one of the areas considered ripe for investment and that is made possible by economy growth exhibited in a number of African countries.
Some investors and experts are of the school of thought that if the challenges facing fashion industry could be tackled, then African fashionistas can compete fairly with their competitors at a global stage. There is still hope for this sector to grow due to a number of reasons.
According to the UN, Africa has the youngest population in the world, with the youths population(aged 15-24) expected to be more than double by 2055.
This implies availability of market opportunities for products associated with the fashion industry. The young population also brings the desired talent and the energy needed in the industry.
African fashion industry has also gained major access to media platforms. Some investors have taken it upon themselves to televise fashion competitions to showcase works from different designers in Africa.
Apart from that, social media platforms such as twitter, Facebook, Instagram among others have also facilitated marketing of the African fashion industry. Many young people have access to such media and have millions of followers who could make the fashion industry trend online hence provide easy accessibility to market.
The future of African fashion industry is promising and not a pipe dream as some may have visualized it. There has been an influx of other start-ups into the industry in the recent past due to the package of opportunities and its lucrativeness which seem to outweigh the challenges facing the sector. However, fashionistas need to keep abreast with the dynamism in the industry.
In conclusion, The fashion industry in Africa has a bright future ahead. Those who dare to invest early will turn out to be the biggest beneficiaries since there will be little competition. The industry however calls for high degrees of creativity and sound market strategies in order to grow.