AfDB’s Fashionomics Africa unveils digital marketplace for fashion designers

Fashionomics Africa has recently launched the pilot phase of a digital marketplace to help Africa's fashion designers, textile and accessories professionals connect with global markets.

Fashionomics Africa is the flagship initiative of the African Development Bank. The launch took place on November 25 at the Global Gender Summit, a gathering of more than 1,500 representatives from multilateral development banks, finance institutions, governments and private sector leaders in Kigali, Rwanda.

Sponsored by the Fund for African Private Sector Assistance, the African Development Bank's Fashionomics Africa digital marketplace website and mobile app is the latest innovation. This is a podium enabling the African entrepreneurs from the textile, apparel and accessories industries to create and grow their businesses, with a focus on opportunities for women and young people.

"It is the first-ever B2B [Business-to-Business] and B2C [Business-to-Consumer] platform that has ever been created for, micro, small and medium-sized enterprises that are working along this value chain," the African Development Bank's Vice-President for Agriculture, Human and Social Development, Dr. Jennifer Blanke said at the launch.

"It is all really for connecting business to business, businesses to consumers and ensuring we are putting into place all we need to really transform the clothing and fashion industries in Africa," she added.

"The Fashionomics Africa digital marketplace will be a game-changer for Africa's fashion entrepreneurs, to be able to reach regional and international markets and increase their revenues," the Founder of Hub of Africa (an Ethiopia-based fashion platform that promotes African brands) Mahlet Teklemariam opined.

The Fashionomics Africa digital marketplace website and mobile app aims to augment productivity for fashion entrepreneurs through capacity building and online training tools; and facilitate access to finance through traditional and innovative financing channels.