M a r k e t N e w s

African footwear industry likely to rise to $ 1 billion

Posted on : Saturday , 9th February 2019

 The story behind Africa’s fashion crosses the complex designs of the continent’s culture, heritage, and her dress. The next big thing is to provide a solution to the potential of Africa to drive the future of Africa and slow economic growth due to rising youth unemployment and increased value of commodities.

 
Sub-Saharan African clothing and footwear market is worth $ 31 billion US dollars. Growing creative ambition in African fashion trends is essential, but poor supply discipline, the lack of international partners and the challenges of inferior infrastructure will be resolved promptly. Cotton, textile and apparel manufacturers in 18 sub-Saharan African countries are backing a new initiative to boost confidence in Africa as a sourcing location and attract new buyers and investors to the region.
 
Effect of African Culture and Beauty on the global fashion scene, the number of non-selected and African descent models has increased significantly, running the runways for fashion’s biggest brands, which featured in leading fashion magazines and featured among most of the world’s land breaking advertising campaigns. In 2018, Amitoy Lagum of Uganda and Harith Paul of Tanzania, such as Harith Paul, will see the continual increase in African models of fashion.
 
Although the African market for footwear industry is still young, the continent is heavily involved with raw materials, extraordinary talent and affordable labor, which is the perfect push to build an extraordinary footwear industry. Countries like Ethiopia, Ghana, Kenya, and Nigeria lead the revolutionary footprint of the continent. In 2015, Ethiopia has earned more than $ 30 million from the export of shoes, which has achieved ninth place in the leather products industry worldwide. And this is just the beginning. In 2018, we can expect to see further growth from Ethiopia and other African countries, the price of African footwear industry may be likely to rise to $ 1 billion in the next decade.
 
Today, though very few universities across the continent are offering first or master’s degree in fashion, the perception of fashion on the continent is improving as a result of African fashion being increasingly accepted and adopted across the globe.
 
Recently South Africa, a country on the southernmost tip of the African continent is planning to develop a master plan for the growth of the apparel, textile, footwear, and leather retail value chain, targeting to create 60,000 jobs, according to Trade and Industry Minister Rob Davies. He said that his department is working with Justin Barnes, facilitator for the new automotive master plan till 2035, to come out with a similar plan. The plan may be announced early next year, according to a report in a South African newspaper.
 
Thanks to the upward trend of Africa’s clothing exports, especially thanks to the Bangladeshi investors, there
has been a threat to the second position in the world’s clothing business. Under the African Growth and Scope Act (AGOA), the United States enjoys duty-free and quota-free access for certain goods with clothing.
 
And among the main reasons for growing garments exports from African countries is one of the impressive Bangladeshi garment makers to take advantage of responsibility under the African Growth and Opportunity Act, or AGOA. AGOA is a piece of legislation that was approved by the U.S. Congress in May 2000. The purpose of this legislation is to assist the economies of sub-Saharan Africa and to improve economic relations between the United States and the region.

Source : textiletoday.com.bd
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