CAFA to Boost African Fashion Economy to $500bn at CANEX

The Confederation of African Fashion (CAFA) is set to unveil a roadmap aimed at growing Africa's fashion economy from an estimated $30 billion to $500 billion during CANEX WKND 2026 in Lagos. This event, scheduled for November 5, will mark CAFA's first anniversary and will take place at the Wole Soyinka Centre for Culture and the Creative Arts.

The initiative will be presented in collaboration with the Federal Ministry of Art, Culture, Tourism and the Creative Economy, allowing fashion industry stakeholders to explore investment and collaboration opportunities. CAFA President, Aare (Prof.) Lai Labode, stated that the organization is working with African governments to align policies on sourcing, production, trade, and intellectual property to enhance economic value for local businesses.

Nigeria was the first country to sign the African Fashion Industry Growth Charter on November 5, 2025, with Minister Hannatu Musa Musawa emphasizing the potential for job creation, particularly for women and youth, through investment in the sector.