Source Africa helping African manufacturers embrace growing global interest

Published: 05 June 2014 | by Pippa Mann
Source Africa helping African manufacturers embrace growing global interest
Africa's manufacturers are ready to take advantage of the growing global interest in the continent through Source Africa, the Textile, Apparel and Footwear trade event taking place in Cape Town from 18 – 20 June 2014.

International retailers such as H&M are looking to Sub-Saharan Africa for future production and the benefit of sourcing from the continent is becoming a hot topic in the international sourcing arena.

Source Africa, now in its second year provides a platform for African manufacturers to connect with both international and intra-regional buyers.

One of the most interesting opportunities for manufacturers is the trade advantage that African states enjoy, with duty-free exports to the US under the African Growth and Opportunity Act (AGOA) as well as a similar arrangement with the EU.

Africa is not only developing as a manufacturer to countries abroad, but its own economies are undergoing robust growth and the consumer market is going from strength to strength.

It's an often-quoted fact but worth repeating: of the top ten fastest growing economies in the world, six are in Africa.

Source Africa encourages African buyers and suppliers to do business with each other, capitalising on tariff advantages and shorter distance to market.

By bringing together manufacturers from 18 African countries and buyers from the region, the event encourages intra-regional trade.

Source Africa and USAID's Southern Africa Trade Hub have engaged industry experts to recruit buyers from the United States and Asia, and several of Africa's key regional retailers such as Edcon, TFG, Pepkor, Mr Price, Woolworths, Truworths, Ackermans, Cape Union Mart, Queenspark, PnP Clothing, and Shoprite will be attending the event, an indicator of the focus on increasing sourcing from Africa.
- Byo24News

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