In a historic move set to redefine Africa’s creative economy, Nigeria has become the first African country to sign the African Fashion Industry Growth Charter — a milestone that signals a new era of collaboration and structure for the continent’s $500 billion fashion industry.
The announcement was made yesterday at the Confederation of African Fashion (CAFA) World Press Conference, where Dr. Lai Labode, President of CAFA and MD/CEO of CashToken Rewards Africa, described the signing as “a defining shift for Africa’s fashion economy.”
According to Dr. Labode, the Charter provides the long-awaited framework to align designers, investors, and governments, transforming fashion from a cultural expression into a major economic driver.
“Through CAFA, we are connecting the dots from cotton to commerce,” Dr. Labode said. “This marks the shift from fragmented passion to structured progress — from exporting raw creativity to building full-scale industries.”
The African Fashion Industry Growth Charter aims to build a sustainable and inclusive value chain across the continent, ensuring that economic value remains within African borders while empowering local communities.
Dr. Labode, also known as the Kurunmi of Ijaye, emphasized that this initiative represents more than a symbolic gesture — it’s the foundation for a continental movement that positions Africa as a global leader in fashion innovation and production.
“Africa is not just dressing the future,” he added. “We are designing, producing, and benefiting from it.”
Through partnerships such as the Lai Labode Heritage Foundation, CAFA and its collaborators are poised to turn Africa’s abundant creativity into tangible prosperity, cultural diplomacy, and global leadership in the creative economy.
