As African Fashion Industry Pushes for $500m Economy
Stakeholders in the African fashion industry are pushing for an estimated $500 billion fashion economy at the ongoing Creative African Nexus taking place in Lagos, writes Charles Ajunwa Since Thursday, the
The African fashion industry is aiming for a $500 billion economy, with stakeholders gathered in Lagos for the Creative African Nexus (CANEX WKND 2026). The week-long event, held in the Wole Soyinka Centre for Culture and the Creative Arts, features exhibitions, technology showcases, and masterclasses. Nigeria signed the African Fashion Industry Growth Charter on November 5, 2025, making it the first country to do so.
The charter's 10 pillars include policy, cultivation, intellectual property, logistics, and more. The Confederation of African Fashion (CAFA) aims to transform Africa's fashion industry by focusing on structure, talent, and unity. Nigerian Minister of Art, Culture, Tourism and Creative Economy, Hannatu Musa Musawa, emphasized the importance of capacity building, infrastructure, and building a structured, values-driven fashion economy rooted in African heritage.
Experts and industry leaders highlighted the need to protect African designers, promote cultural narratives, and create global quality standards to compete on a global stage.
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