The African Development Bank (AfDB) aims to support the growth of the African textile and fashion sectors through focus on building capacities of micro, small and medium-sized enterprises, especially for women and youth. AfDB has taken the lead in promoting investments in the textile and fashion sector, increasing access to finance for entrepreneurs and incubating and accelerating start-ups.

In addition to using its traditional public- and private-sector financing instruments to support the growth of the textile and fashion industry, AfDB is developing innovative and technology-driven Fashionomics Africa platform, an online interactive marketplace for medium and small scale enterprises and relevant stakeholders in the textile and fashion sectors in Africa. The goal is to enable young African textile and fashion entrepreneurs to create and grow their businesses.

AfDB feels Africa should be exporting finished textile products, such as clothes, suits, dresses, shirts, and not cotton lint. Africa produces up to six per cent of the world’s cotton, but the continent has very few textile factories and, due to poor industrialization, much of the fabric is imported from Asia.

However, the growth prospect of fashion industry in Africa is promising. Steps in this direction are fostering the development of local suppliers, entrepreneurs, and regional value chains, ensuring access to low-cost financing, building a more conducive business climate, buying from locally owned companies, investing in infrastructure and establishing more educational institutions.