Special envoy of the African Development Bank (AfDB) on Gender, Geraldine Fraser-Moleketi has thrown open a new project within the Fashionomics initiative. Launched last year under her leadership, Fashionomics is a B2B website dedicated to fashion and textiles in Africa that is ready to launch. All fashion enthusiasts in New York, London, Milan or Paris agree that African fabrics are inspiring more and more famous designers. Fashion is not just about design or inspiration; it’s also a multi-million dollar industry that creates millions of jobs including in textile and clothing manufacturing.
In Africa alone, the fashion industry could generate €15.5 million in the next five years. Of course, that’s a far cry from the €1.3 billion that it generates worldwide. Based on these figures, the AfDB’s Office of the Special Envoy on Gender launched the Fashionomics initiative during the Bank’s 2015 Annual Meeting in Abidjan.
This initiative will offer the Bank’s support to Micro, Small and Medium-sized businesses (MPME) in the fashion and textile industry in Africa. The Bank has already invested €10 million in Madagascar, in the support of Project for Investment Promotion (PAPI), focused on MPME in these industries and in particular on women and young people.
