By Moses Nosike
The cosmetics sector in Sub-Saharan Africa is expected to grow in the next two years. Overall, the African beauty and personal care market was estimated at €6.93 billion in 2012 and it currently increases between 8% and 10% per year against a global market growth rate of close to 4%.
It was expected to have reached €10 billion in 2017 when the continent’s total population, the fastest growing in the world, passed 1.2 billion inhabitants.
The Nigerian beauty and personal care market is experiencing rapid and dynamic growth, providing lucrative opportunities for beauty businesses from around the region and beyond.
The market is currently worth an estimated US$3 billion, according to Euromonitor International, and its value is likely to rise to keep pace, with an increasing number of working women with disposable income as well as sophisticated youth searching for new ways to care for and present themselves.
Accordng to Euromonitor, strong population growth – particularly of the young, urban, and female populations – means beauty and personal care in Africa and Nigeria have plenty of scope for growth, especially in terms of exciting, new products.
“As part of the continent’s fast-growing middle class, young people are becoming more westernized through media exposure and are expected to drive demand over the forecast period.
Africa has become a destination of choice for investment by international companies that aim to seize the opportunities presented by the beauty and personal care markets.
This is due to the expected population growth and an impressive positive performance by beauty and care products”.
The cosmetics and personal care industry globally generates an estimated annual turnover of US$400 Billion. Sub-Saharan Africa currently accounts for 3% of global beauty products sales but that share is expected to grow at double the rate of the market.(allafrica.com)
Therefore, The need to honor stakeholders in the industry and promote cosmetics and personal care brands and service providers cannot be over emphasized. Thus we introduce The Africa Beauty Summit & Awards.
However, Seddymake-over is a leading make-up and hair stylist company based in Lagos. Our experience spans the areas of make-up, hair-styling spa, Nails and image branding.
In Ten (10)years of operations, Seddymake-over has worked with top artists in the entertainment industry including Olamide, Lamboginny, ChuddyK, Ik Ogbona, Fathia Balogun to mention a few.
“We have also worked as official make-over artists in major events around the country including Saro the Musical, Lagos Fashion Maniac amongst others. Our training programme has graduated thousands of students who have gone ahead to create viable make- over businesses of their own.
Seddy Magazine is an institution established to project the African Beauty sector to the world through print and other related channels.
The Africa Beauty Summit and Awards is a project designed to celebrate stakeholders in the beauty Industry, which includes, Local and International beauty brands, Industry experts, potential investors, cosmetologist and beauty enthusiasts, beauty influencers and lots more
Seddymake-over is led by Temitope Sedi, an entrepreneur, business owner and a passionate business leader. Her experience spans the areas of make-up, hair styling and image branding. A graduate of Business Administration from the University of Lagos.
Temitope has spent some time working in administrative capacity at Pwise Suit where she was instrumental to retaining customers as well as attracting new ones. She repeated the feat at the Life Saver Foundation (NGO) as their client service coordinator.
She attended makeup training at Illumin8 Media Make-up Studio in Dubai, UAE. Bontricial Makeup school, USA. Her experience at Life Savers Foundation prepared her to be personable with people and a team player. She has also undergone fashion related training sessions at the famous House of Tara and Nsure Studio.
According to her, part of the objectives of the Africa Beauty Summit & Award 2019 is for wealth creation, aiding and promoting local beauty businesses and product by positioning them on an international pedestal; creating a link for foreign investors to invest in local business and beauty product.
Sedi said also that the award seeks to honour stakeholders in the industry and to create a healthy competition among brands in a strife to achieve more.
She said further that the award categories will be thrown open to members of the populace to nominate key players in the sector which includes, Entertainment, Fashion, Film and Sport.
All nominees will be present for the Gala night at Oriental Hotel, September 22, 2019 with investors and top players all present. The winners will also be selected through open voting on our website.
“The Summit will converge a gathering of investors, stakeholders and key players in the beauty industry from over Africa to celebrate and look for innovative ways to improve the industry. The Summit is scheduled for July 2020 in Rwanda.