February 2017 Regional Focus: Africa - with a spotlight on Kenya.

February 2017 Regional Focus: Africa - with a spotlight on Kenya.

Monday, November 21 2016

Discover new factories, manufacturers, and suppliers from countries in Africa  as they join our lineup of 40+ countries. Plus, attend special seminars and get access to tips from industry experts as they discuss the continents position as the next sourcing destination. 


Participating countries from Africa include:

Why Africa?

  • Now that the recent 10-year extension of the African Growth and Opportunity Act (AGOA) has firmly secured Africa's position as the next sourcing destination, major brands are making bigger efforts to uncover opportunities there.
     
  • Africa’s current GDP is $1.6 trillion, and in the next five years that number is expected to grow 60 percent to $2.6 trillion. Add to that a population projected to soon have the world’s largest labor force, already with 70 percent of the population under age 30, and the opportunity in the region is sizeable.
     
  • Africa grows 6 percent of the world’s cotton but exports 70 percent of the commodity raw cotton, with no value added. Fifty-four percent of the land in Africa is uncultivated arable land, ripe for growing more cotton.
     
  • Africa has strong market acess. More than 20 nations in Sub-Saharan Africa—including top talked about soon-to-be sourcing markets like Ethiopia, Kenya and Madagascar—enjoy duty free access to the U.S. market under the recently renewed African Growth and Opportunity Act (AGOA). Others, like Egypt, can export goods to the U.S. duty free under the U.S.-authorized Qualifying Industrial Zone (QIZ) program, provided the products contain 10.5% Israeli inputs, which has fostered partnership in trade between the two nations. Similar schemes exist for duty free apparel trade between Africa and Europe.
     
  • Sourcing in Africa isn't only cheap, but the country has the potential and interest in starting out sustainably. 
     
  • Source: Sourcing Journal 

 

Subscribe to the SOURCING at MAGIC newsletter for more updates on Africa leading up to the show in February.

To Register for the show, CLICK HERE.