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A majority of African grown cotton is exported, but initiatives are underway in certain countries to bolster upstream textile yarn spinning and fabric production as part of efforts to develop the overall supply chain.

“Cotton production is expected to go up in the continent this year, by around 30% compared to 2020 and 2021.…

GM and Canadian political leaders today (Dec 5) hailed the launch of Canada’s first large-scale EV assembly plant, making BrightDrop Zevo electric delivery vans at the Big Three auto-maker’s CAMI assembly plant at Ingersoll, Ontario. BrightDrop, a wholly-owned GM subsidiary, announced it plans initial production of its Zevo 600 models in January (2023) and Zevo 400 models late next year (2023).…

US imports of textiles and apparel continue to grow as the strong dollar makes it cheaper for American companies to purchase garments overseas, but this growth trajectory does not reflect the realities of the market, according to industry experts.

Data from the US Office of Textile and Apparel (OTEXA) (1) shows that US imports of textiles and apparel increased by 22.76% to USD114.787 billion in the first 10 months of 2022, compared to USD93.505 billion in the same period of 2021.…

The manufacture of technical textiles is in its nascency across North Africa, even more so in sub-Saharan Africa, with the continent having long been considered a low-cost, cut-and-sew destination rather than a production hub for value-added items. But due to the trend by European and US brands for near-shoring and diversification away from east Asian production, and the ambitions of certain African countries to develop a full manufacturing chain, the potential for making technical textiles in Africa is gradually emerging.…

Dyeing and finishing capabilities in Africa’s largest textile producer, Egypt, are being undermined by government import and foreign currency restrictions, forcing manufacturers to use roundabout means to source raw materials, say industry critics. Sectoral development is also being impacted by the drop in investment in the wake of the Covid-19 pandemic and a downward slide in orders since the middle of this year (2022).…

Fraud has spiked since the outbreak of Covid-19 and is still on an upward trajectory as economies struggle to rebound from the pandemic, according to research by Grant Thornton and the US-based Association of Certified Fraud Examiners (ACFE). One of the biggest growth areas in fraudulent activity, according to the American Bankers Association (ABA) is related to the exploitation of the elderly, particularly in ageing societies such as the USA, Europe and the east Asia.…

An African garment and textile sector rebounding from the Covid-19 pandemic has seen strong export growth in the first three-quarters of 2022 start to sputter through a tightening of retail demand in Europe and the United States. These remain Africa’s two primary export markets and their consumers are reducing spending as inflation and recession concerns grow.…

The African knitwear manufacturing sector has been regaining ground lost during the Covid-19 pandemic, with established manufacturing hubs capitalising on the growing demand for nearshoring in Europe and to a lesser extent the USA. There are major investments under way in developing production capacity, particularly in West Africa.…

The Egyptian garment and textile sector has rebounded from the dip caused by the Covid-19 pandemic, with orders returning in 2021 and exports strong in the first half of 2022. Sluggish consumer demand in the country’s primary export markets of the USA and Europe has however seen orders weaken over the past third 2022 quarter.…

The ability of obliged bodies to share AML/CFT intelligence with FIUs, law enforcement and each other, without breaching data protection rules and their own legitimate duty of care to clients is a knotty issue. But the importance of ensuring such intelligence does not remain in silos or its flow is restricted by having to be channeled through STRs to FIUs, which could be overloaded with data as a result, is increasingly recognised by key jurisdictions.…