The African Development Bank (AfDB) has overtime vowed to tap into the continent’s increasingly acclaimed fashion industry.
But it believes this can only be achieved through e-commerce.
To make this a reality, the AfDB created a digital marketplace Initiative named Fashionomics Africa.
The goal of Fashionomics Africa platform is to enable African entrepreneurs operating in the Textile, Apparel and Accessories (TA&A) industry to create and grow their businesses, with a focus on women and youth.
And now Fashionomics Africa has enlisted the support of delivery services carrier DHS Express to ensure build the e-commerce concept across the continent.
It is expected to help unlock 280 million online shoppers in Africa.
“E-commerce, logistics and distribution are key to helping the fashion industry reach new heights. Although African retailing and its digital evolution are still in their infancy, revenue in the e-commerce is expected to show an annual growth rate of 13.27%, resulting in a projected market volume of US$40 million by 2025.”Vanessa Moungar, Director AfDB Gender, Women & Society Department
Experts say adopting the e-commerce model would help African creative entrepreneurs in the textile, apparel and accessories sectors with the tools and know-how to upscale their fashion business by leveraging e-commerce, distribution and logistics.
It would also help support fashion entrepreneurs in building a fashion brand.
“The best time to start your e-commerce business is now. There are many partners like Fashionomics Africa, Ananse or Afrikrea to help you grow and succeed.” Brad Edwards, Head of E-Commerce and Key Accounts, Sub-Saharan Africa at DHL ExpressBrad Edwards, Head of E-Commerce & Key Accounts, DHL Express Sub-Saharan Africa
On its part, Fashionomics Africa initiative works to attract foreign direct investment in the African textile, apparel and accessories industries and support the growth of micro, small and medium-sized businesses – with an emphasis on women and youth.