Being laser-focused on making it easier for African fashion brands to sell their designs to consumers globally was the inspiration to start a business for Bolaji Akande, founder and chief executive officer of TheGoldScarf.
Today, his online marketplace is a one-stop shop linking global consumers needing African fashion brands with designers.
“Despite the incredible talent and creativity in Africa, many fashion brands struggle with visibility and logistical hurdles,” he notes.
“I saw an opportunity to bridge this gap by creating a marketplace that simplifies logistics and amplifies brand credibility, giving these brands the global recognition they deserve,” he says.
Akande says his initial start-up capital was from his savings and AWS start-up credits. “Through a combination of personal resources and AWS startup credits, we maximise our first investment when we created TheGoldScarf.”
Since starting the business in July 2024, it has grown steadily and onboarded four leading African fashion businesses. “Since starting in July, we’ve expanded quickly, onboarding four leading African fashion businesses and achieving $100k in GMV,” he says.
“Additionally, we’ve formed key partnerships that have accelerated our growth and scalability,” he adds.
The entrepreneur has five full-time employees who contribute unique talents across the company including marketing, customer support, and product development to ensure its success.
He notes that the business plans to grow its logistics network and establish strategic partnerships to expand its reach into the North American and European markets in the short run.
In the long run, he says the business plans to launch subscription services for businesses by providing additional tools like analytics, design consultations and exclusive marketing partnerships.
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Responding to questions on how the online marketplace is helping to improve African fashion brands’ credibility, Akande says that TheGoldScarf enhances African fashion brands by providing them with a platform that links them with customers globally.
According to him, the business supports fashion brands through cutting-edge logistics solutions and visibility tools. “We ensure these brands meet global standards. This not only boosts their credibility but also fosters economic growth and cultural exchange between Africa and the rest of the world.
On what the business is doing differently to remain in business, he notes that TheGoldScarf is concentrating on a specific niche with the $152 billion African fashion market.
“Our technology helps African companies become more visible globally while streamlining logistics. Through our targeted and promising solution to a specific problem, we have established ourselves as the global platform of choice for African designers,” he explains.
In evaluating the tech and digital ecosystem, he says that the country has a thriving and promising IT landscape, however, he adds that financial and infrastructural constraints are major problems for players in the industry.
“Nigeria has an exceptional digital talent pool, and with further funding and support, the nation has the potential to emerge as a major global tech powerhouse.”
Responding to questions on some of the major challenges the business has faced since starting, he says logistics remains a major hurdle, noting that several African brands lack the infrastructure for international shipping.
The young entrepreneur says the business has resolved it by partnering with logistics providers to ensure seamless shipping.
“Another challenge is gaining global visibility, which we’re addressing through strategic digital marketing campaigns.”
He urges the government to support businesses like TheGoldScarf with grants or subsidies for logistics infrastructure and create more incubation programs for start-ups, especially in the fashion and e-commerce sectors.
He states that he has been recognised for his works at Yelp, Gokada, and LottieFiles, saying he “contributed to the development and innovation of the various platforms in addition to AWS startup credits, which were essential in building our platform.”
On his advice to other entrepreneurs, he says, “Focus on solving meaningful problems. Entrepreneurship can be tough, but if you’re addressing a real need, you’re already ahead.”
“Always keep learning from mentors, customers, and the market, and remember that success requires persistence, adaptability, and the courage to take risks,” he advises.
