Major players in the global beauty and cosmetics industry are making the most of the boom projected for the sector in sub-Saharan Africa.

Thanks to a burgeoning population expected to double to 2.4 billion in 2050, the rising middle class and amplified urbanization have positioned the region as the “next frontier” in the sector, with the beauty market expected to double in size over the next decade.

The cosmetics and personal care industry globally generates an estimated annual turnover of $400 billion. Over the past 20 years, the industry has grown on average 4.5% annually.

Sub-Saharan Africa accounts for 3% of global beauty product sales but that share expected to grow at double the rate of the market.

The Toiletries and Cosmetics sector focuses on creating an enabling environment for the growing toiletries and cosmetics market. This industry is made up of producers of cosmetics such as lipsticks, makeup and for the toiletries, tissues, wipes amongst others.

However, the available statistics on the industry’s value in Africa shows that it is worth some billions of dollars. According to market research firm Euro monitor International, the beauty and cosmetics industry in the Middle East and Africa is estimated at about US$25.4 billion – with the market tipped to grow by 6.4% yearly over the next four years, making the Middle East and Africa the fastest growing region in beauty and personal care products. Also, the African Independent reports that the cosmetics and personal care industry globally generates an estimated annual turnover of US$400 billion, growing on average 4.5% annually over the past 20 years.

The worldwide skincare, beauty and cosmetics industry is predicted to be worth over US$675 billion by 2020. In the UK, the beauty industry employs over a million people and is worth £17 billion.



Mr. Sandy Osei-Agyemang is the founder and CEO of Slid Industries, a company that is into the production and marketing of hair and skin under the brand names MVP, Family Choice, Skin Fine and LaNe. He also co-founded and managed Afam Concept Inc., a leading manufacturer of VITALE, ELENTEE AND MO’ BODY hair product brands in the USA.

Mr. Osei-Agyemang pioneered new concepts in hair care for people of color including the now famous “Never Greasy” and “Moisture Retention” approach to hair care and “Inner Care Technology” in hair relaxer techniques. The company was sold to JF Lab of Chicago in December 2000.

Mr. Osei Agyemang has also held several roles with financial and banking institutions including Credit Lyonnais, Harris Trust and Savings Bank and Continental Illinois, USA.

He has won various awards for his business excellence. In 1994, he was adjudged the “AFRIQUE MAGAZINE – Entrepreneur of the Year”. In 2008, he received Ghana’s Highest National Award ‘Order of the Volta – Member’ for his services to entrepreneurship and business development.

Mr. Osei-Agyemang’s hair products are sold in Ghana and other African countries including Ivory Coast, Nigeria, Togo and South Africa. The MVP brand is among the top hair brands in Ghana.

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