Autumn Insights
AFSIC – Investing in Africa 2024, the largest Africa-focused investment conference outside the continent, will be held in London from October 7-9, 2024. Following the recent China-Africa cooperation summit, this event shifts the spotlight to investment and financing opportunities for Africa's growth. Now in its 11th year, AFSIC brings together African business leaders, international investors, and financial backers to secure funding for major projects. The forum will feature strategic meetings, networking, and over 20 country-specific sessions, aiming to foster partnerships, explore new investments, and address Africa's development challenges. Its success will be measured by its impact on sustainable growth and real-world solutions for Africa's population.
Port of Dakar Sees Drop in Traffic in June
The Port of Dakar has experienced a significant decline in cargo traffic, with June 2024 seeing a 19.2% drop compared to May, according to the National Agency for Statistics and Demography (ANSD). The decrease was primarily due to a sharp reduction in incoming shipments, especially general goods, which fell by nearly 45%, and refined hydrocarbons. Exports, particularly fish products, also declined by 15.4%. Overall, serviced traffic at the port dropped by 21.1%. While container traffic saw a slight increase, the port's overall performance shows a continuing downward trend, reflecting challenges ahead, especially when compared to the 22.4 million tons managed in 2022.

African Maritime Diplomacy:
A Strategy for Sustainable Development
African maritime diplomacy is vital for sustainable development, with Morocco leading efforts to boost cooperation, economic growth, and job creation. Key ports like Tanger Med and Dakhla Atlantic connect Africa to global markets, while Morocco prioritizes security, industrialization, trade, and renewable energy to shape the continent's maritime future.

Burkina Faso Bans Imports of Weaving Yarn and Woven Loincloths
Burkina Faso is a leading cotton producer in Africa and is taking steps to strengthen its domestic cotton-textile-clothing value chain. The country processes less than 10% of its cotton production locally. The government has implemented a ban on the import of weaving yarn and woven loincloths, effective from 24 September 2024.
The government wants to encourage the local production of cotton and support the development of domestic production facilities. This measurement has been taken to reduce reliance on imported textiles and create more value within the country by processing raw cotton into yarn, fabric, and clothing domestically.

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Do you know?
Connecting Africa to the World: The Role of Its Major Ports
Ports
like Durban in South Africa and Mombasa in Kenya are among the busiest in
Africa, serving as major gateways for trade with Asia, Europe, and the
Americas. These ports are vital to the economies of their respective
countries and the continent.