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
By Abdul Rahman Bangura–
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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