Why is Africa’s clothing market booming?

Why is Africa’s clothing market booming?
The demand for basic and decorative (fashion) clothing in Africa is
going through the roof and has created a multi-billion dollar market
opportunity for business people. Some of the obvious reasons for
the huge demand for clothing on our continent are…
#1 - A large and rapidly growing population
Since wearing clothes is a basic need of every human, it only
makes sense that the larger our population, the more clothes
we will wear. Africa has one of the fastest growing populations
in the world with an annual population growth rate of nearly 3
per cent over the last 20 years. With the world’s highest birth
rate, our continent’s current population of nearly one billion
people is expected to more than double in 40 years to 2.3
billion (source: Population Reference Bureau )
However, this huge population does not necessarily translate to
buying power because nearly 60 percent of Africans are
classified as poor. But because poor people still need to wear
clothes, used and cheap second hand clothing imported from
America and Europe (discussed in detail below) have become a
hot-selling billion dollar business in Africa. This proves that
Africa’s huge and fast growing population holds a lot of
potential for clothing businesses now and in the future. It all
depends on the segment of the population you want to target –
rich, middle class or poor.
#2 – Africa has a young and fashion-conscious ‘middle class’
The African Development Bank describes ‘middle class’ as people
who spend between $2 to $20 a day. At the moment, there are
more than 300 million people on the African continent who fit into
this category. These are people who live above the poverty line -
but not yet among the wealthy.
A significant majority of Africans in the middle class are young and
educated city people who are very aware of (and heavily
influenced by) modern trends in western fashion. Because most of
them hold salaried jobs or own a small business, these guys and
ladies have more spending money at their disposal. For them,
clothing goes beyond the basic need to cover the body. Quality,
style and outward appearance influence the type of clothing they
spend their money on. This same behaviour applies whether they
are shopping for themselves or someone else (kids, friends, family
etc.).
As African economies grow and income levels improve, more
people will join the middle class thereby increasing the amount of
money the continent spends on clothing.