Afreximbank and ANJE of Portugal to promote the African textile industry
CANEX aims to facilitate investments in Africa’s creative and cultural economy through financing, capacity building, export and investment promotion, digital solutions, promotion of links and partnerships and political advocacy, the two entities said in a joint press release.
As part of this partnership, ANJE, through its fashion project called Portugal Fashion, will provide African designers with showcasing platforms, facilitate their access to international markets and strengthen their capacities through business mentoring and marketing. technical assistance in the production of clothing. In the long term, Afreximbank and ANJE aim to attract more investment opportunities in the sector while developing the technical skills of African industry players, thereby improving Africa’s manufacturing and production capacities.
Africa’s cultural and creative industries, with the right investments, can contribute to the continent’s structural transformation, thereby creating jobs and increasing exports and other development outcomes. The partnership between Afreximbank and ANJE aims to address the challenges faced by African designers, offering them the opportunity to access international markets while building their capacities through brand incubation.
The program is designed to promote at least 40 African designers each year on the catwalks of Portugal Fashion. Designers will also benefit from networking opportunities with international industry experts, retailers, manufacturers and other key stakeholders. The inaugural fashion showcase will take place in Porto, Portugal, October 13-16, 2021.
In addition to this event, Afreximbank and ANJE have structured a partnership to advise and support European and Portuguese companies seeking to invest in Africa, where ANJE will act as a one-stop-shop for investors seeking in Africa and seeking services of advice and support from both Afreximbank and ANJE.
Prof Benedict Oramah, President of Afreximbank, said: âWe believe that the vast pool of creative talent on the continent is an opportunity to accelerate Africa’s economic transformation. Thanks to CANEX, the bank provides tangible support for the development of an ecosystem to monetize the creative sector and increase its contribution to the African economy within the framework of the African Continental Free Trade Area (AfCFTA).
Manuel Mota, vice-president of ANJE, said: âThe creative industries in Africa have immense potential to become key drivers of economic growth and I believe this initiative will have a positive and lasting impact. It is a privilege for IYCF to host and work with Afreximbank on this important milestone. “
Fibre2Fashion Information Office (KD)
The African Import-Export Bank (Afreximbank) and the Portuguese National Association of Young Entrepreneurs (ANJE) announced a three-year partnership to support and promote the African fashion clothing and textile manufacturing industry in Portugal and throughout Europe. This partnership is part of Afreximbank’s Creative Africa Nexus (CANEX) program.