AFRICA’S CLOTHING SECTOR EYES GROWTH POTENTIAL – BUT INFLATION AND RECESSION IS HAMPERING AMBITION
November 23rd, 2022
An African garment and textile sector rebounding from the Covid-19 pandemic has seen strong export growth in the first three-quarters of 2022 start to sputter through a tightening of retail demand in Europe and the United States. These remain Africa’s two primary export markets and their consumers are reducing spending as inflation and recession concerns grow. This has been impacting investment to bolster capacity despite growing interest by international brands in diversifying sourcing away from Asia and China especially. In sub-Saharan Africa, investment ...
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