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Africa Development Bank seeks the Knack of 136 Fashion Entrepreneurs, Digital Innovators and Creative Minds to talk over the Metamorphosis of the Sector in the African Continent
Posted On 02 Jul 2020
By Abdul Rahman Bangura–
Photo Credit: Glitzedge
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- African Development Bank (AfDB) through its Director of the Gender, Women and Civil Society Department – Vanessa Moungar with the psyche of enabling fashion entrepreneurs, summoned the economic challenges due to the COVID-19 plague.
AfDB announces, it is supposed to establish an encouraging economic domain for fashion entrepreneurs to germinate. Seemingly, it converged 136 fashion entrepreneurs, digital innovators and creative minds to discuss better ways, in a way to up the fashion sector in the African Continent. On this, the fashion connoisseurs distributed pointers on how fashion entrepreneurs can surmount the economic challenges due to the pandemic with business actors at a webinar which was the first of its webinar series on the fashion industry in Africa.
According to AfDB, the webinar was initiated and hosted by AfDB Fashionomics Africa initiative to discuss the impact of the COVID-19 pandemic on the industry.
“Supporting investment for the micro, small and medium enterprises in the creative and cultural industries, creating the right environment for the financial sector to play its full part in powering growth, lies at the heart of the African Development Bank’s agenda,” Director of the Gender, Women and Civil Society Department at the African Development Bank, Vanessa Moungar, asserted.
With the theme: “What does the COVID-19 disruption mean for Africa’s Fashion Market: Opportunities and Threats for Fashionpreneurs and Investors,” the participants swapped ideas and disseminated discourses on how to take advantage of online tools to strengthen businesses.
The panelists included representatives from supply chain giant Maersk, the HEVA Fund for financing creative industries, the founder of made-in-Africa online brand Tongoro, and Afrikrea – an African e-commerce platform specializing in fashion and crafts.
“African fashion is rising right now. African designers need to develop their unique business model and have to be innovative. To do so, digital is key.
It’s a tool that we can truly leverage to our advantage. Africa has many stories to share and tell,” founder of Tongoro, Sarah Diouf, affirmed.
Wakiuru Njuguna, Investment Manager and Partner at the HEVA Fund, said sustainability was going to be key to the future of fashion.
“Going forward, sustainable fashion is going to be the way to go. The African fashion brands need to be ready to answer the questions they will be asked,” she said.
According to AfDB, “Registration on the Fashionomics Africa webinars, which will be available on the Fashionomics Africa Digital Marketplace and Mobile App (available both on IOS, is free. The forum aims to boost Africa’s fashion designers; textile and complements professionals bind with regional and global markets.
Fashionomics Africa leverages data and communication technologies to help entrepreneurs’ access business skills, finance and other tools.”
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
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Good reporting new Africa news. AfDB Fashionomics Africa initiative it will help lot of small and medium scale businesses. Nairobi Kenya. Lawrence.
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Fashionomics Africa initiative is a good idea, any initiative will good a long way. Cape town, South Africa. Nathaniel
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Just wondering, African Development Bank is doing all what they can do to help the continent with all forms of investments. But where are our respective governments, I just they are busy making themselves rich. Adesina in Abuja NIGERIA.
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Adesina these so call Presidents are busing signing bad loans with China. Making them rich. Benin City, Nigeria! Abebi
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Corruption is all over look at the West father of democracy, and how corrupt their governments are. I personally condemns any form of corruption. Manchester England! Chinara
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Thank you for signing me to your newsletter. Good reporting. Oslo, Norway. Ekon.
Thank you for signing me to your newsletter. Good reporting. Oslo, Norway. Ekon.
Adesina, yes most of these presidents in the continent are all rich with our money. Is time for new leaderships in most countries in our continent. Thank you for your reports. I love your newspaper. Edward in Kigali RWANDA!
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AfDB is doing very well at its reach, to do the needful for the African continent. God bless the African Development Bank.
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