Africa’s fashion industry is booming, UNESCO says in new report but funding remains a key challenge

📆 10/26/2023 2:15 PM
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A new UNESCO report released at this year’s Lagos Fashion Week notes that Africa’s fashion industry is rapidly growing to meet local and international demands but a lack of adequate investment continues to limit its full potential

Africa’s fashion industry is rapidly growing to meet local and international demands but a lack of adequate investment still limits its full potential, UNESCO said Thursday in its new report released at this year’s Lagos Fashion Week show. Currently valued at $15.

That has opened more market opportunities such that across Nigeria, for instance, young people on social media are steadily opening fashion brands. “Africans want to wear Africa. It’s really beautiful to see because it hasn’t always been like this,” said Omoyemi Akerele, who founded the Lagos Fashion Week in 2011 to encourage the patronage of Nigerian and African fashion. “But fast forward, a decade after, that’s all people want to wear.

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