Africa Investment Forum: Moloi-Motsepe on what the free-trade agreement means for Africa’s fashion industry

The Africa Investment Forum has been buzzing with discussions around the African Continental Free Trade Agreement and its potential impact on various sectors, including the fashion industry. Dr. Precious Moloi-Motsepe, the founder and chairperson of Africa Fashion International, shared insights on the changing landscape of African fashion and the opportunities presented by the free trade agreement in a recent interview with CNBC Africa's Fifi Peters. The agreement, aimed at opening up borders to trade, is set to revolutionize how designers across the continent can access markets without the barriers of tariffs and transportation costs. Excitement runs high as the agreement lays the foundation for the African fashion industry to solidify its position in the global fashion value chain. Dr. Moloi-Motsepe highlighted the significance of investment in the textile industry, emphasizing the potential for growth and transformation in the sector. She noted that advancements in technology, particularly in online retail, are reshaping the industry and making it more attractive for investors. The integration of technology, coupled with investments in sectors like agriculture and energy, promises to lower input costs for designers and streamline operations in the fashion value chain. Collaboration and coordination among stakeholders emerged as a key theme in discussions about the industry's future. Dr. Moloi-Motsepe underscored the importance of partnerships and collective efforts in advancing the sector, citing initiatives like Africa Fashion Unites, which brought together designers and industry players from across the continent. The involvement of organizations like Fashionomics, a partner of the African Development Bank, further supports the industry's growth through data-driven strategies and industry support. As the continent embraces the opportunities of free trade, concerns about competition from countries like China loom large. Dr. Moloi-Motsepe acknowledged the challenges posed by cheap imports and counterfeit goods flooding the market but expressed confidence in Africa's potential to carve a niche in the global fashion market. By capitalizing on rising wages in countries like China and positioning itself as a manufacturing hub, Africa has the chance to attract major retailers and expand its apparel industry. With a focus on local sourcing and production, the continent aims to create a competitive edge and drive economic growth in the fashion sector. Looking ahead, stakeholders are optimistic about the prospects for Africa's fashion industry and the role it can play in shaping the future of the global fashion landscape.