The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Japanese multinational, SoftBank, and Smart Africa, an alliance of 32 African countries and organisations pushing to accelerate digitalisation across the continent, have signed a Memorandum of Understanding to collaborate on solutions to provide affordable broadband and internet connectivity to Africa’s underserved regions.
According to Smart Africa, their goal is to double broadband penetration to 51 percent in Africa by 2025. As of 2017, 18 percent of Sub-Saharan Africa’s population was using the internet, according to World Bank data. SoftBank says it will deploy its Non-Terrestrial Network (NTN) Solutions to reduce internet costs and build affordable internet infrastructure.
SoftBank and Smart Africa say they will begin their collaboration by identifying demand for NTN solutions and conducting further feasibility studies in five African countries: Djibouti, Egypt, Kenya, Morocco and Rwanda
Low internet penetration and high access costs have served as one barrier to the uptake of e-commerce on the continent. Increased services that can help increase connectivity and bring down costs will help contribute to growing the continent’s $20 billion e-commerce opportunity.
Chanel, Louis Vuitton and Tiffany & Co are among the brands expanding in Perth, Australia in a bid to tap its mining, oil and gas wealth and newfound status as a travel hub.
This week’s round-up of global markets fashion business news also features Haiti’s sourcing crisis, Brazilian jewellery giant Vivara and Dubai’s Ramadan shopping season.
This week’s round-up of global markets fashion business news also features Supreme’s long-awaited Shanghai flagship opening, India imposes MIP on undervalued imports of synthetic knitted fabric and striking Sri Lankan workers continue to protest.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.