How the creative industry can help drive Africa’s growth
Fast fashion is a growing trend all over the world and Africa is no exception. The apparel and foot ware market in Sub-Saharan Africa is said to be worth $31 billion, according to Euromonitor International. Samuel Mensah, Founder for Ananse Africa has created a market place for local creatives to sell their brands to the international. He joins CNBC Africa for more.
Fri, 26 May 2023 11:15:54 GMT
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AI Generated Summary
- The significance of Ananse Africa in empowering African fashion entrepreneurs by providing them with tools and skills to trade globally.
- The challenges around logistical and payment processes in the African fashion industry and how Ananse Africa is addressing these hurdles through strategic partnerships.
- The pricing and demand dynamics within the platform, highlighting the range of budgets catered to and the growing international interest in African fashion.
The creative industry in Africa has been gaining traction in recent years, with more and more designers and entrepreneurs making their mark on the global stage. Samuel Mensah, Founder of Ananse Africa, is at the forefront of this movement, providing a platform for local creatives to sell their brands to an international audience. In a recent interview with CNBC Africa, Mensah discussed the growth of his platform, the challenges facing African fashion entrepreneurs, and the steps his company is taking to address these issues.
Ananse Africa aims to empower African fashion entrepreneurs by providing them with the tools and skills to trade globally. Mensah highlighted the importance of removing obstacles such as payment and logistics challenges that hinder cross-border trade. The platform has seen significant growth, currently working with designers from five African countries and onboarding more to join the platform. With a focus on supporting predominantly women-owned SMEs, Ananse Africa is playing a pivotal role in promoting gender diversity in the industry.
One of the key challenges facing African creatives is the lack of infrastructure for logistical and payment processes. With 55 different countries and territories across the continent, moving products can be a daunting task. Mensah revealed that Ananse Africa is partnering with major logistics companies like DHL and banks such as EcoBank to streamline these processes. By addressing issues around payments and logistics, the platform is creating a more seamless experience for designers and customers alike.
In terms of pricing and demand, Mensah clarified that Ananse Africa serves as a marketplace where designers set their prices. While some products may be priced higher due to their quality and craftsmanship, there is a range of budgets catered to on the platform. Mensah emphasized that there is a growing demand for African fashion both locally and internationally, with a significant market of African diaspora eager to connect with their heritage through unique pieces.
Overall, Ananse Africa is not only bridging the gap between African creatives and global markets but also championing diversity and quality in the industry. As the creative economy continues to flourish in Africa, platforms like Ananse Africa are paving the way for a new generation of designers to showcase their talent on a global scale.