World
Pirates Kidnap Hungarian, 5 Others off Nigerian Coast
By Dipo Olowookere
A citizen of Hungary has been kidnapped by some pirates off the coast of Nigeria on Saturday, the Hungarian Ministry of Foreign Affairs and Trade, has confirmed.
A statement issued on Wednesday in Budapest quoted the Minister of Foreign Affairs and Trade, Mr Péter Szijjártó, as saying that, “The local and German authorities have confirmed that a Hungarian citizen was among the six crew members kidnapped by pirates off the coast of Nigeria on Saturday.”
During a press conference held on another topic, the Minister said there is no information as yet with relation to the fact that the kidnappers have issued any demands, and that for this reason he does not wish to comment on whether the Hungarian Government would be willing to pay a ransom.
But Mr Szijjártó told reporters that “the Ministry of Foreign Affairs and Trade is working on a solution to the matter using all possible consular and diplomatic means and in cooperation with the Counter Terrorism Centre (TEK).”
In a statement, the TEK informed the press that its crisis centre had swung into operation and had already contacted partner organisations.
British news agency Reuters reported on Tuesday that six crewmembers of a German container ship had been kidnapped off the coast of Nigeria.
The German owner, Mr Peter Doehle Schiffarhrts KG, issued a statement explaining that pirates had attacked the ship on Saturday as it was approaching one of Nigeria’s ports and taken six members of the crew with them. They are being held by kidnappers in Nigeria.
The spokesperson for the shipping company simply stated that the kidnapped crewmembers included no German citizens, but according to information from the authorities of the countries involved, Reuters has stated that the kidnapped persons include four Philippine citizens, a Ukrainian and a Hungarian citizen.
There is no contact with the kidnappers as yet. The ship and its remaining 12 crewmembers have since left the vicinity of Nigeria, the spokesperson said.
World
Can Africa Help Russia Solve its Personnel Problem?
By Louis Gouend
Russia will gain access to promising specialists, while the continent’s countries will gain educational and professional opportunities for their youth. Personnel provision is a key challenge for Russia and African countries in the context of global competition for talent. Against the backdrop of a shortage of specialists and growing demand for qualified labour, this topic has become especially relevant. Russia, faced with an acute shortage of personnel in key sectors of the economy, is slowing down the pace of development. Africa, on the other hand, is demonstrating demographic growth, which, thanks to a significant increase in the number of young able-bodied citizens, makes it a valuable partner. Cooperation in the field of education, training and employment of personnel can become an effective tool for achieving favourable results.
The combined efforts of Russia and Africa open up unique prospects. Russia can gain access to young and promising specialists, while Africa can gain educational and professional opportunities for its youth, which will help strengthen its economy. Such a partnership creates a platform for exchanging experiences, developing modern educational programs and sustainable economic cooperation.
To achieve these goals, a number of key tasks need to be solved: firstly, to define special quotas for personnel training that will take into account the current needs of both Russia and Africa. Secondly, it is necessary to introduce a contract system under which students who receive a free education are obliged to work in certain industries of Russia or their countries for several years. The importance of stimulating Russian businesses to finance the education of African students with subsequent employment in domestic companies should not be underestimated.
Along with this, it is necessary to develop solutions to provide practical experience for future specialists during their training. Organizing scholarship programs and informing young people about educational opportunities in Russia can be important steps towards attracting African students. Another significant measure will be the opening of specialized educational centres in Africa, which will strengthen bilateral personnel training.
The creation of a high-quality educational infrastructure both in Russia and in Africa is another promising step in strengthening cooperation. North African countries may be interested in opening branches of Russian schools, colleges and universities in their territories. In parallel, it is necessary to think over programs for retraining African specialists in Russia, as well as popularize the best educational opportunities with the introduction of selection systems for the most promising candidates.
Personnel interaction reflects not only educational needs but also global trends. Today, Russia is facing an aging population, and the number of pensioners will increase to 25% by 2030. Africa is becoming one of the youngest regions in the world, where about 60% of the population will be under 25 by 2050. This demographic gap requires professional rapprochement between the two regions for mutual benefit.
The digitalization of the economy will lead to the retraining of workers in 45% of modern professions. This increases the demand for qualified specialists in the fields of digital technologies, medicine, and engineering, and also expands the competition between countries for talent. Russia annually needs to supplement the IT market with 200 thousand specialists, and the need for doctors has already reached 30%. A similar situation is observed in the construction industry, where the Russian Federation needs at least 150 thousand workers per year. Africa, in terms of personnel needs, needs about 2 million teachers, a million engineers and thousands of doctors.
The problem of personnel training is acute for both Russia and Africa. In Russia, educational programs need to be updated, including disciplines related to technology and innovation. However, personnel are concentrated mainly in megacities, creating a shortage of specialists in the regions. In Africa, the main barriers remain limited access to education and a low level of digital literacy, which directly affects the level of training.
Russia and Africa have examples of successful cooperation in personnel training. In the educational sphere, more than 310 thousand Africans studied in Soviet and Russian universities, and today about 35 thousand students from Africa study in the Russian Federation. Successful projects were in infrastructure, such as the construction of a hydroelectric power station in Ethiopia with the simultaneous training of local specialists, and in medicine, where Russian universities conduct advanced training courses in Kenya.
There are prospects for growth. In the 2025/26 academic year, the Russian government intends to allocate 4816 budget places in higher educational institutions of the country for students.
Louis Gouend is the Chairman of the Commission for Work with African Diasporas of the Russian-African Club of Moscow State University named after M.V. Lomonosov
World
Africa Transcending into BRICS+ Orbit
By Professor Maurice Okoli and Professor Chinedu Ochinanwata
After the historic 16th BRICS summit held in October 2024, three African States Algeria, Nigeria and Uganda, among others in Europe (Belarus and Turkey), Asia and Latin America, recognizably became BRICS+ partner states. In total, 13 countries received BRICS partner status, according to declaration reports by the Russian Ministry of Foreign Affairs. This category of ‘partner states’ was primarily designated as part of the distinctive-focused leeway towards acquiring full membership status in the determined future.
The legitimate implications for being in this category are quite notable and provide colourful heterogeneity to the BRICS+ association. It also encompasses a growing influence, the bubbling upliftment of these countries on another level of the global stage. Of course, these cannot be underestimated in discussing BRICS+, especially in the era of shifting economic architecture and geopolitical situations.
Together, the BRICS members encompass nearly a third of the world’s land surface and almost half of the world’s population. BRICS is an informal association of emerging economies, comprising Brazil, Russia, India, China, and South Africa, with the latest additions Ethiopia, Egypt, Iran, Saudi Arabia and the United Arab Emirates. Argentina declined to join at the last moment.
Despite various criticisms raised against a number of countries that ascended into the category of ‘partner states’ for BRICS+, each has its strategic dimension. In assessing particularly African countries – Algeria (North Africa), Nigeria (West Africa) and Uganda (East Africa) – BRICS+ now, has, in the first place, a wider geographical representation across Africa. It is important to reiterate here that Ethiopia, Egypt and South Africa are full-fledged BRICS members.
Ethiopia, by all standards, is a reputable country in East Africa. The continental organisation African Union (AU) is headquartered in its capital, Addis Ababa. Egypt, considered to be a regional power, also plays invaluable roles within the Arab world, specifically in North Africa and in the Middle East region. Without much doubt, the new ‘partner states’ – Algeria, Nigeria and Uganda have indicated their collective commitment to the multifaceted ideals in the declaration adopted in Kazan, Tatarstan Republic.
BRICS’ numerical expansion and quality transformation in January 2024, and the creation of ‘partner states’ in October 2024, both under Russia’s BRICS+ chairmanship have undoubtedly opened doors to new partnership opportunities for Africa.
The strongest question centred on how BRICS’ African partnering states, Algeria, Nigeria and Uganda can strategically position themselves to benefit from the evolving dynamics within BRICS+ while, in this new geopolitical reality, simultaneously navigating for competing geopolitical interests in Africa. There are emerging challenges, but BRICS’s influence is growing and provides an impetus for strengthening relations and working systematically for economic growth, especially in the processes of reshaping economic architecture in this fast-rising multipolar world.
Nigeria and Uganda, as potential partners in the BRICS, could engage in several collaborative initiatives to enhance their economic political and social developments, including trade and investment.
For instance, Nigeria, with its natural resources and increasingly large market, and Uganda, with its agricultural potential, can collaborate to boost intra-BRICS trade and that of intra-Africa trade. In addition to this, exploring investment opportunities in sectors such as manufacturing, production innovation and technology has a clean basis to add value to the raw materials and transform them into exportable products.
Closing related to the above, are pertinent questions of ensuring energy security and infrastructure (transport logistics). Nearly all African countries are griffing for support in technology transfer, and fintech – these largely depend on sustainable energy supply. Consequently, joint initiatives could harness the capabilities of BRICS members, particularly China, India and Russia in these sectors.
By leveraging their respective strengths and, with a focused approach, Nigeria and Uganda could address these shortfalls and deficits, and further down extend assistance across West Africa, and in East Africa. One key advantage is that Uganda has Ethiopia and Egypt as BRICS members, a ready-made basis for BRICS collaboration despite the differences and persistent conflicts in the region. The basic requirement here is to find a common understanding and distinctive focused sectors for collaboration.
Comparatively, there is much-proven evidence and features, including its size of economic power and wealth, its leadership in Africa as an energy power, and its abundant supply of natural resources. This West African country ranks third behind Egypt and South Africa, and Nigeria is qualified for a full-fledged BRICS membership.
Nigeria is often referred to as the Giant of Africa by its citizens due to its large population (estimated at 220m) with a large economy and is considered to be an emerging market by the World Bank. It is, however, believed Nigeria’s foreign relations with the Western powers may be a major reason the country has not yet subscribed to BRICS membership.
Despite this identified political complexity authorities, however, maintain a concrete decision to be made over the next two years, Nigeria’s expected role in BRICS+ could augment Africa’s capability to influence regional trade, economics and politics.
Reports monitored indicated that Nigeria runs a deliberative democratic system. As part of a new foreign policy push to have its voice heard in important global organisations, the Federal Executive Council, and even the National Assembly have to make deliberations and official majority decisions towards joining the BRICS+ association.
Meanwhile, Nigeria is currently in the well-meaning and clearly defined ‘partner states’ category which guarantees collaboration and partnership with BRICS+ members. In addition, it has the possibility of balancing its national interests with the collective goals of the BRICS.
South Africa which ascended to BRICS more than a decade ago has noticeably benefited from its membership. Ethiopia, which was granted BRICS membership status in January 2024 along with Egypt, has significant working relations with China, Russia and India. Based on its strong partnership, China has financed the 20-story office complex, which is one of the most prominent political buildings in Addis Ababa. It was fully funded, designed, built, and furnished by China as a $200m gift to Africa. While India’s case need not be over-emphasized and reiterated, Russia has also followed suit by exploring and making economic investments in Ethiopia.
In November 2022, Algeria officially applied for membership in BRICS. But its official application for BRICS+ membership, at first, attracted debates, and experts raised controversial points in connection with its role with neighbouring Morocco and particularly the Sahel States, including Mali and Niger which are currently undergoing some tectonic political changes and reforms.
Algeria, located in the Maghreb region of North Africa, has strategic importance for external powers such as the United States, Europe, China and Russia as well as those in the Middle East. Its capital and largest city Algiers, situated in the far north on the Mediterranean coast, is considered as a gateway into North Africa, by foreign players. It has a budget of €15.4 billion and provides the bulk of funding through some programmes, as it is included in the European Union’s European Neighbourhood Policy (ENP) which aims at bringing the EU and its neighbours closer.
After studying various reports, Algeria has passed through a chequered journey, in fact handling it as a potential opportunity to balance its Maghreb regional position, at least, by obtaining BRICS ‘partner status’ in October 2024. There were serious reports that India vetoed Algeria’s BRICS+ entry at France’s request.
Tension arose over Burkina Faso, Mali and Niger geopolitical crisis in the region, Algeria opposed an ECOWAS military operation in Niger and emphasized the role of diplomacy in bringing about a peaceful solution to the crisis, and refused permission for French military aircraft to fly over Algerian airspace. It was further explained that Paris reportedly pushed New Delhi into using its veto as ‘revenge’ against Algiers for its growing influence in the Sahel and Maghreb region, and as a way to slow down burgeoning ties between Algeria and China.
Nonetheless, Brazilian President Luiz Inacio Lula da Silva also opposed Algeria’s entry, according to Anadolu Agency. But while Algeria surpasses Ethiopia in the size of the economy and oil production and, Ethiopia and Egypt in terms of the volume of gas exports, China backed by Russia pushed Algeria to be accepted for partnership status in BRICS+, with the future possibility of attaining full membership. China sees great potential due to its strategic location between Europe and sub-Saharan Africa. China is funding the rehabilitation of the strategic Port of El Hamdania, as Algeria remains an essential part of the Belt and Road Initiative (BRI).
On the sidelines of the ninth annual meeting of the BRICS New Development Bank (NDB) held in Cape Town, Algeria was authorized to become a member of this financial entity. With its ‘partner status’, Algeria intended to buy shares in the BRICS New Development Bank (NDB) for $1.5 billion. In the opinion of Dilma Vana Rousseff, Chair of the New Development Bank, the move to join the bank would mark Algeria’s integration into the global financial system as the ninth member of the multilateral development institution.
On the other hand, Algeria plans to use its fast-tracked initiatives and its ‘partner status’ to ultimately attract BRICS+ members to invest in the free industrial zone with Mauritania and Niger, and then with Tunisia and Libya. Algerian President Abdelmadjid Tebboune underlined this to have massive geopolitical ramifications and could be important to the emerging multipolar goals in the Global South.
Furthermore, Tebboune outlined his government’s plans for economic development over the next 12 months, including the possibility of boosting investments, improving human development, and shifting towards a more advanced export structure relying less on hydrocarbons to qualify for membership into BRICS. With this high desire to be in BRICS+, Algeria still considers Western countries as important partners in trade, security, and other economic areas.
Lately, the BRICS countries have been getting more involved in Africa. The New Development Bank (NDB) was set up to help fund infrastructure and sustainable development projects, not just in BRICS countries but now in other growing economies too. It’s seen as an alternative to big players like the IMF and the World Bank.
The NDB, founded in 2015 by the BRICS countries—Brazil, Russia, India, China, and South Africa—aims to mobilize resources for infrastructure and sustainable development projects in emerging economies. It complements the work of existing multilateral and regional financial institutions in promoting global economic growth. In 2021, the bank expanded its membership to include Bangladesh, Egypt, the UAE, and Uruguay.
Despite multiple obstacles within the Arab Maghreb Union, specifically persistent conflict between Algeria and Morocco, in August 2021, Algeria ultimately announced the break of diplomatic relations with Morocco. Besides this, Algeria’s relations are not very cordial with Ethiopia and Egypt which are BRICS members.
As a result, its request to join BRICS was slightly opposed by Ethiopia and Egypt. And of course, Ethiopia and Egypt have conflicts over the Grand Renaissance Dam (GERD) and the Nile River. While Algeria remains an inescapable candidate for BRICS+, both African and foreign experts have argued that with the completion of the Trans-Saharan Highway, it is well positioned to develop BRICS-Sub-Saharan trade. The possibilities are immense, and their sponsorship would make Algeria a truly indispensable member of the BRICS.
In June 2024, the World Bank’s 2024 report marks a turning point for Algeria, which joins the select club of upper-middle-income countries. This economic rise, the result of an ambitious development strategy, places the country in the same category as emerging powers such as China, Brazil and Turkey.
In recent years, the Algerian government has halted the privatization of state-owned industries and imposed restrictions on imports and foreign involvement in its economy. These restrictions would prevent them from benefiting largely from the BRICS+ trade and investment platform created during the summit in Kazan.
That, however, China and Russia have comparatively less practical investment than the Gulf States. For instance, Turkish direct investments have accelerated in Algeria, with total value reaching $5 billion. As of 2022, the number of Turkish companies present in Algeria has reached 1,400, far lower than Russia and China, and any other BRICS+ in an anticipated positive direction. Algeria has the 10th largest reserves of natural gas in the world and is the 6th largest gas exporter. Despite its huge natural resources, the majority of the country’s population (an estimated 45.6 million) is still noticeably impoverished, the overall rate of unemployment was 11.8% in 2023.
South Africa, Ethiopia and Egypt (full members of BRICS+), and Algeria, Nigeria and Uganda (as partner states) have the potential to bring various multifaceted economic and social advantages to the African continent and to a new level at the side of BRICS+ association. In many areas, the partnership could be delivered that are beneficial to Africa, although African members of BRICS+ need to utilize the partnership to the fullest in terms of the potential of the available resources, the potential usefulness of African Continental Free Trade (AfCFTA) and the emerging business opportunities. Last but not least, there is also the need to align these different kinds of partnerships to the common strategic objectives of the African Union.
Professor Maurice Okoli is a fellow at the Institute for African Studies and the Institute of World Economy and International Relations, Russian Academy of Sciences. He is also a fellow and lecturer at the North-Eastern Federal University of Russia. He serves as an expert at the Roscongress Foundation and the Valdai Discussion Club.
As an academic researcher and economist with a keen interest in current geopolitical changes and the emerging world order, Maurice Okoli frequently contributes articles for publication in reputable media portals on different aspects of the interconnection between developing and developed countries, particularly in Asia, Africa, and Europe. With comments and suggestions, he can be reached via email: markolconsult (at) gmail (dot) com.
Professor Chinedu Ochinanwata is a Nigerian academic and serial entrepreneur. He is a professor of digital economy and innovation, and is currently serving as pioneer director at Nasarawa State University, Keffi Enterprise Centre.
Vice President of African Development Institute of Research Methodology (ADIRM). Email: chineduochi (at) yahoo (dot) com.
World
AFC Gets AfDB’s $30m Equity Investment to Rollout Green Shares in Climate Projects
By Adedapo Adesanya
The Africa Finance Corporation (AFC) will get a $30 million equity investment from the African Development Bank (AfDB) for the rollout of innovative “green shares” aimed at mobilising resources for climate action projects across Africa.
Green shares are innovative financial instruments to unlock significant funding for high-impact projects.
AFC will leverage the green equity and mobilise debt funding from capital markets for on-lending to sub-projects.
The AfDB board approval took place on December 11, 2024, as it seeks to play a key role in establishing an ecosystem of sustainable financing which will bridge gaps needed to create economic opportunities and enhance Africa’s climate resilience.
The finance is expected to inject some of this funding into some projects including wind and solar power plants in Djibouti and Egypt and energy storage systems in Cabo Verde.
The investment is also projected to create over 1,600 full-time equivalent jobs by 2031, while also fostering regional integration, and generating clean, reliable energy to power millions of African households. It is also expected to drive inclusive growth and expand economic opportunities for marginalised populations, including women and rural communities.
Despite contributing less than 3 per cent of global carbon emissions, Africa faces severe climate impacts and an annual infrastructure financing gap of $170 billion.
Mr Solomon Quaynor, African Development Bank Vice President for Private Sector, Infrastructure and Industrialisation said the collaboration between the two institutions exemplifies the transformative power of strategic partnerships.
“The bank group’s first-mover investment in AFC’s green shares is expected to attract other regional and global investors, amplifying the impact of this initiative, and sending a strong signal to global investors that Africa is ready to lead the way in green growth,” he said.
“We are honoured to welcome the African Development Bank, Africa’s largest development finance institution, as the first investor in our Green Shares programme,” added Mr Banji Fehintola, Executive Board Member and Head of Financial Services at AFC.
“Their $30 million commitment highlights the critical role of sustainable financing in tackling Africa’s climate and infrastructure challenges while strengthening our shared mission to drive transformative change across the continent. By working with a like-minded partner who shares our vision for a prosperous and sustainable Africa, we are advancing impactful solutions that support the continent’s green transition and long-term development,” he added.
Mr Ahmed Attout, the Bank’s Director for Financial Sector Development, stressed that, “This partnership with AFC is a major milestone in our efforts to channel domestic, regional, and global capital into projects that build climate resilience and foster sustainable growth.”
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