China-Africa summit due in September in Beijing

China began inviting African leaders to attend the China-Africa summit in Beijing this September, against the backdrop of fierce competition by global powers over Africa’s critical minerals.

Ugandan foreign ministry was the first to leak details about the summit that will be held on September 3-8. Known by its acronym FOCAC, the summit is held every three years.

In the latest edition in 2021, held remotely, President Xi Jinping pledged financial promises worth $40 billion, compared to around $60 billion in 2015 and 2018.

China-Africa trade stood at $282 billion last year, an increase from $185.29 billion in 2018 and $231.88 billion in 2021.

China has strengthened its foothold in Africa’s infrastructure and extraction economy widening the gap with western rivals, notably in the field of strategic minerals key to energy transition.

It plans to maintain its position by increasing resource backed loans and concessional funding to African peers, as the US and other Western and Asian allies struggle to bridge the gap with China.