The Business of Ghanaian Fashion (BoGF), a project to develop the country’s fashion industry and tap into the estimated $1.8 trillion global apparel market, has been launched in Accra.
An initiative of Fashion Nexus Ghana, the BoGF also comes with a year-round capacity-building programme aimed at strengthening the industry through training, investment readiness, and market access.
Speaking at the launch, the Founder of Fashion Nexus Ghana and Project Lead of BoGF, Ms Hillary S. Andoh, said the project sought to “develop, formalise, and scale up Ghana’s fashion sector, prepare businesses for investment, expand market access and build sustainable partnerships.” She explained that though Ghanaian designers had talent and creativity, the industry faced persistent challenges including informality, lack of investment readiness, limited access to funding and weak production capacity.
“There are businesses that have operated for over 10 years without being registered,” Ms Andoh noted.
“We cannot talk about access to financing when many enterprises remain informal. Our collaboration with the Ghana Revenue Authority (GRA) is therefore, key to simplifying processes and encouraging compliance through flexible flat tax regimes,” she added.
Ms Andoh further elaborated that the BoGF would not act as a funding agency but as “an information hub and pipeline” linking fashion entrepreneurs with financing opportunities and investors.
“Our goal is to make brands investor-ready. Some businesses need as little as $50,000 to transform, while others require much larger capital injections,” she mentioned.
Highlighting the sector’s potential, Ms Andoh asserted that fashion was a critical employer of the youth and women, and could become a significant non-traditional export under the African Continental Free Trade Area (AfCFTA).
“Together, we can close the $3 billion gap in Africa’s fashion value chain and position Ghana on the global fashion map,” she said.
The Secretary General of AfCFTA, Wamkele Mene, in remarks made on his behalf, underscored the opportunity the continental market presented to designers, manufacturers, and service providers across the value chain.
“Fashion is not only about garments; it is also about stylists, photographers, logistics providers, web developers, and many others who make up the ecosystem,” a representative noted.
On his part, the Commissioner-General of the GRA, Mr Anthony Sarpong, in remarks delivered on his behalf, assured the industry of support.
He said simplified tax regimes under the Authority’s modified taxation programme would make it easier for small and medium enterprises to comply and benefit from formalisation.
The Deputy Director of the Ministry of Tourism, Arts and Culture, Mr Charles Sedem Hotor, described fashion as a cultural asset that “projects our values and identities.”
He pledged the Ministry’s collaboration to grow the sector into a viable economic driver.
A representative of UNESCO also stated that the organisation valued fashion as “a driver of cultural expression, economic transformation, and sustainable development” and affirmed its commitment to help build capacity and strengthen networks in Ghana’s creative industries.
BY KINGSLEY ASARE
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The post Business of Ghanaian Fashion Project inaugurated to harness global apparel market appeared first on Ghanaian Times.
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