Over the weekend in Lagos, The Epic Show 2025, hosted by Fashion Finest Africa (FFA), unlocked secrets about the fashion industry to industry trailblazers, emerging designers, and creative entrepreneurs.
The idea was to chart the future of Africa’s fashion industry.
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The event at The Podium, Lekki, Lagos, showcased cutting-edge designs and sparked vital discussions on sustainability, funding, and business structuring.
The event convener and CEO of Fashion Finest Africa, Sola Oyebade, known as Mr Mahogany, spearheaded the initiative, emphasising the platform’s dedication to nurturing new talent.
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Additionally, the event, which has continued to serve as a springboard for emerging creatives, was held on Saturday.
Highlights included panel sessions that featured experts and fashion shows that displayed the creativity of the talents in the industry.
When asked how the platform shapes Africa’s fashion industry, Mr Mahogany underscored its focus on new talent.
According to him, the platform cultivates an ecosystem that drives creatives toward global prominence by offering a stage for designers, models, stylists, and makeup artists to perform internationally.
Sustainable Fashion
Addressing the role of sustainability in African fashion, Mr Mahogany revealed the growing enthusiasm among designers.
“A lot of Nigerians don’t understand what sustainability is. It’s something that we are continuing to grow, and each year we can see it’s getting bigger and bigger. This commitment is gaining traction, with designers adopting practices like second-hand clothing, marking a shift toward ethical fashion in Nigeria,” he said.
The event highlighted the fashion industry’s economic potential. Reacting to questions on the event’s impact on the economy, Mr Mahogany emphasised the global visibility.
He said: “We’re creating work, we’re creating training. These people will become internationally known, attracting foreign exchange back into our country and a great reputation.”
Fashion Funding
Moreover, the event’s panel session tackled securing funding for fashion entrepreneurs at the creative events.
The Group Head of Brand Transformation and Digital Marketing at the Bank of Industry, Babajide Sipe, provided detailed insights into accessing loans for fashion entrepreneurs.
When asked about specific funding platforms in Nigeria, Mr Sipe, the general secretary of the Association of Corporate Affairs Managers of Banks, clarified the landscape.
He said, “Every bank has some form of loan for the fashion business. However, if you check most organisations or most banks, you will not see anything specifically for fashion entrepreneurs,” he said.
The finance experts continued,” In the Bank of Industry, we do not have a dedicated fund for fashion; we have a Creative Fund. So if you want money to do your business, you must approach the Creative Desk, and they will help you go through all the processes involved to get your loan.”
Mr Sipe highlighted the critical issue of collateral, a significant obstacle for creatives. He said, “The problem is, if we expect you to pay back, what is your collateral? If you do not have collateral, how do you guarantee you will repay the money?
He emphasised that the Bank of Industry provides funding, but ‘not for free.’
“A lot of fashion entrepreneurs don’t have their stuff. You can have property for the business owner, which is also okay for you to get a loan. Still, at times, people don’t want to tie their property to their business because if anything fails, they can escape,” He noted that this hesitation complicates loan access, as banks rely on tangible assets for security.
On available financial opportunities for the creatives at the event, Mr Sipe listed emerging opportunities, such as the Bank of Industry’s GLOW program for women and the Matching Fund with the Lagos State Government.
The Bank of Industry Digital Marketing Head said: “You have the Matching Fund that the Lagos State Government partnered with the Bank of Industry recently, where it’s almost like a community-based type thing.
“You don’t have to have big properties as collateral to apply. There are cooperative societies, and you sign in as a member of the community, as a cooperative society. Because you belong to the community, you can access the loan.”
He emphasised the importance of creditworthiness, stating, “Your BVN and everything will determine whether this person has collected money before? Did the person return the money?”
Role of social media
Additionally, Mr Sipe highlighted the role of social media in the loan process for fashion entrepreneurs, noting, “Your social media following is very important as a fashion entrepreneur because you are building a brand. That brand you are building creates trust.”
Similarly, Abubakar Sanusi, co-founder and CTO of Jupiter Inc., explained why fashion lags behind fashion-tech in attracting investment.
According to Mr Sanusi, who is also the Creative Director for Divine Design Studio and Founding Partner and Chief Investment Officer of Fund Fashion Venture Capital, “The problem is we are currently in a situation whereby tech is being overhyped, when you approach an investor, they’ll be like, ‘How is your product scalable?
“How do you make quick money instead of long-term investments?” Sanusi advocated for accelerators and incubators to provide training and funding opportunities for designers,” he said.
Chidubem Ejezie, knowledge transfer manager at UK Global Alliance Africa and Service Consultant at PwC, also shared practical steps for accessing funding. When asked about opportunities through platforms like Innovate UK, he stressed preparation. “One of the practical steps is to have a pitch deck,” she said.
The service consultant also stated, “You must understand what you have to offer within the global space.” Ejezie further encouraged proactive outreach, such as sending cold emails and researching funding opportunities to remain competitive.
Future Vision
The Epic Show 2025 solidified Fashion Finest Africa’s role as a catalyst for industry transformation.
Mr Mahogany expressed enthusiasm for discovering new talent, stating, “I always look forward to seeing the new designs, seeing that next generation, what they’re creating. That excites me the most.”
The FFA CEO believes that with a focus on sustainability, economic impact, and innovative funding solutions, the event provided a blueprint for aspiring creatives to succeed in a competitive global market.
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He urged the Nigerian government to offer more support, comparing it to the UK’s British Fashion Council.
Mr Mahogany said: “The British Fashion Council gets over £40 million from the government. We already have the ecosystem—thousands of designers, models, stylists. We are like the Ministry of Fashion. The government should come to us.”
Also at the event were fashion designer experts: Chief Creative Director at Atafo, Mai Atafo and founder of Style Infidel Studio, Tosin Ogundadegbe, who shared their professional insights at the fashion events.
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