Major challenges facing Africa's fashion industry

The Mesh Club in Johannesburg recently played host to the South African launch of the African Development Bank's Fashionomics Initiative. This initiative is focused on the economics of Africa's fashion industry with a mission to support micro, small, and medium-sized businesses in the fashion and textile sector across the continent. Geraldine Fraser-Moleketi, the Head of Special Envoy on Gender at the AfDB, sat down with CNBC Africa to shed light on the pressing challenges confronting Africa's fashion industry. Fraser-Moleketi outlined the various hurdles faced by the industry, touching upon issues such as financing, infrastructure, scalability, education, and the need for business acumen among designers. A key theme that emerged from the discussion was the imperative for investment and innovation in Africa's fashion ecosystem. The interview highlighted the need for a collaborative approach involving designers, financiers, and entrepreneurs to propel the industry forward. Fraser-Moleketi emphasized the potential for growth and the possibility of nurturing billion-dollar brands on the African continent, urging the financial sector to view the fashion industry as a lucrative investment opportunity. The event served as a platform to examine the challenges inherent in the industry and underscored the importance of strategic interventions to foster sustainable growth and development. With a spotlight on key areas for improvement, the conversation at the South African launch of the Fashionomics Initiative sought to inspire stakeholders to actively participate in transforming the landscape of Africa's fashion industry. As discussions around financing, infrastructure, skill development, and business management take center stage, the call for concerted efforts towards driving innovation and investment in the sector resonates as a pivotal message for the industry's future.