Both countries are expected to collectively generate $2.5 billion in revenue from fashion by the end of 2023. Interestingly both countries have experienced different approaches to this lead. Nigeria’s fashion industry has a long and rich history, dating back to pre-colonial times when different ethnic groups developed their distinctive clothing styles using local fabrics and embellishments. Although the industry was not very large or profitable in the early ’60s, it caught on shortly after, when the industry experienced a surge of creativity and innovation. Conversely, Egypt’s fashion industry embraces a technical edge. Renowned for exceptional cotton production, the country’s industrial prowess has been a consistent hallmark. As of 2009 and 2010, Egypt had contracts with 23 international countries for cotton exports amounting to $140 million. The North African country has always been a leader in the industrial revolution, with manufacturing being front and centre. Despite occasional setbacks, Egypt has maintained a position ahead of much of Africa, even ranking well in industrial achievements. Egypt’s recent focus on manufacturing, including the establishment of thousands of factories, has enhanced its industrial strength. The country is also setting up the world’s largest textiles factory, set to produce 30 tons of textile daily, in Mahalla.
SOURCE: VENTURES AFRICA
Source link : https://www.africa.com/the-fashion-industry-in-africa-is-booming-with-egypt-and-nigeria-leading-the-way-in-this-growth/
Author : Editor
Publish date : 2023-09-01 10:53:58