Coalition Launches Campaign to Curb Africa’s $35bn Textile Trade Deficit - THISDAYLIVE
A pan-African coalition of organisations and media groups has launched a new campaign to end Africa’s reliance on imported clothing by processing more of its raw cotton locally.
Launched in Lagos under the Africa Made It movement, the “Power, Protect, and Purchase” campaign seeks to help African countries capture $34 billion in annual economic output from the cotton and garment industry.
Currently, Africa loses out on most of the money generated from its own cotton. According to research by Africa Practice cited at the launch, the continent exports up to 98 per cent of its raw cotton abroad and retains only two per cent of its final value. At the same time, African countries run an annual $35 billion trade deficit in textiles.
To address this, the coalition said the continent needs $1.8 billion in targeted funding to develop local spinning, weaving and sewing factories. It stated that this would boost local garment production, generate nearly two million permanent factory jobs and put about $33 billion directly into African households every year.
The group also noted that reviving the local garment sector would boost rural economies through local cotton purchases and factory wages.
Speaking at the launch, the Editor-in-Chief of Africa Made It magazine, Marie Wilke, pointed out that Africa’s global popularity in fashion and culture had yet to translate into local wealth.
“African culture, design, and storytelling influence global fashion, music, and media like never before. Yet, without domestic manufacturing infrastructure, Africa’s creative authority yields very little economic return.
“Linking raw cotton harvest directly to local processing ensures that intellectual property, commercial margins, and industrial jobs remain on the continent. It is time to wear our power,” she added.
Founded on January 22, 1995, THISDAY is published by THISDAY NEWSPAPERS LTD., 35 Creek Road Apapa, Lagos, Nigeria with offices in 36 states of Nigeria , the Federal Capital Territory and around the world. It is Nigeria’s most authoritative news media available on all platforms for the political, business, professional and diplomatic elite and broader middle classes while serving as the meeting point of new ideas, culture and technology for the aspirationals and millennials. The newspaper is a public trust dedicated to the pursuit of truth and reason covering a range of issues from breaking news to politics, business, the markets, the arts, sports and community to the crossroads of people and society.
You can email us at: hello@thisdaylive.com or visit our contact us page.