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Russia’s Romance With Africa After Soviet Collapse

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Russia Africa Soviet Collapse

By Professor Abdullahi Shehu

The collapse of the Soviet Union and the decades of the 90s seemed to have reversed the gains made in Africa-Soviet Relations and, by extension, in Africa-Russia relations.

Understandably, it was a period of politico-ideological downturn and harsh economic realities for Russia, the successor nation to the Soviet Union. The speech of H. W Bush on December 25, 1991, was clear and unambiguous. He summarized the victory of the value-based American/Western model thus: “This is a victory for democracy and freedom. It is a victory for the moral force of our values. Every American can take pride in this victory.”

Following the collapse of the USSR, a new wave of democratic change blew all over Africa. Old ideological friends of the Soviet Union changed camps in line with the changing political dynamics. Party models became transformed from single-party to multiparty systems in Africa.

Interestingly, ideologues became transformed in favour of the capitalist-democratic model. The United States sub-committee on Foreign Relations in March 1998 commended Laurent Kabila of the Democratic Republic of Congo, Yoweri Museveni of Uganda, Paul Kagame of Rwanda, Meles Zenawi of Ethiopia and Isaiah Afwerke of Eritrea as examples of the power of democracy in Africa. Incidentally, relations with Russia’s traditional friends and those with which it had diplomatic ties were at their lowest ebb. Many Russian missions in Africa were closed down; those unclosed were severely pruned down.

ln the case of Angola, for instance, where the USSR had made tremendous financial, material, technical and military investments, the Soviet-backed Cuban military and technical personnel were all withdrawn at short notice. Demand was made for the repayment of debts owed to Russia by African countries, including her traditional partners, at a seemingly odd time when Africa’s debt burden was unbearable. These measures facilitated a new romance between African and Western partners, the latter of which were all too eager to entrench themselves in the vacuum left behind by the Soviet Union.

Old Music, New Dance

There are at least two specific commendable initiatives towards Africa designed by the government of H.E President Vladimir Putin to re-launch Russia into Africa’s geopolitical space. These initiatives, in my view, tally with the personality of H.E President Vladimir Putin, who, as an agent of the former KGB (now FSB), saw the collapse of the Soviet Union as “the major geopolitical catastrophe of the century”. In this sense, a new partnership with Africa could be defined not in terms of ideology but by alternative economic and developmental options which give Africa competitive parity.

The two initiatives are H.E President Vladimir Putin’s debt cancellation of twenty billion dollars ($20 billion) owed to Russia by African countries, which, in his very own word, “was not only a mark of generosity but also a manifestation of pragmatism”. In 2019, Russia held the first ever “Russia-Africa Summit” in Sochi, in which it committed $12.5 billion in business deals, mainly in Arms and grains.

Analysts may be quick to interpret this as the usual trend, more in the fashion of United States-Africa, China-Africa, Japan-Africa, France-Africa summits, etc; but as observed by Landry Signé between 2005 and 2015, Africa’s trade with Russia grew by 185% a “reawakening” which commenced since the 2000s.

Though this trade surge is worthy of note, the volume of trade between Russia and Africa was $14.5billion per annum in 2020. This figure, however, pales into insignificance when compared with China, whose trade with Africa has attained $165 billion per annum during the same period and $254 billion in 2021, even with its late-comer status in Africa. This is to say that the doubling of trade relations within the next five years between Africa and Russia, as stated by Vladimir Putin in 2019 in Sochi, is not only a vision in the right direction of growing Russia’s partnership with Africa, but it is also a desirable imperative.

As argued by Emman El-Badawy in the article ‘Security, Soft Power and Regime Support: Spheres of Russian Influence in Africa,’ “two distinct, now common explanations, have emerged to explain Russia’s growing interest in Africa. The first argues that Russia is intent on rekindling old Soviet-era ties to the continent to extract resources in return for security assistance – a mutually beneficial yet opportunistic strategy that is, short-term and transactional…

The alternative suggests that Putin considers Africa a so-called second frontier, after Eastern Europe for encircling Western Europe…” These reasons may sound strategic, yet they remain largely speculative and conjectural. Understandably, the perceived geopolitical irrelevance of Africa by Russia has changed, and new dynamics have beckoned on both sides of subsisting opportunities for increased collaboration between Africa and Russia. One clear thing, therefore, is that Africa-Russia relations are on the ascendancy again after the post-Soviet era of passivity and inaction.

Between 2015 and 2019, a total of 20 bilateral military cooperation agreements were signed between Russia and African states. Many Russian companies such as Lukoil, Gasprom, Rosatom and Restec are some of Russia’s energy and power industries which are actively engaged in Nigeria, Egypt, Angola, Algeria and Ethiopia. Here, it must be stressed that in 2018, “Nigerian oil and gas Exploration Company Oranto Petroleum announced that it would be cooperating with Russia’s largest oil producer, Rosneft, to develop 21 oil assets across 17 African countries.”

Unfortunately, this has not materialized due to Rosneft’s lack of interest in doing business in Africa. Additionally, Russian Rosatom has signed nuclear energy agreements with 18 African countries, including Nigeria, Egypt, Ethiopia and Rwanda, to address the power needs of those countries.

In summarizing the Russian strategic policy interest in Africa and given the strong limitation of its current capability, according to Paul Stronski, one time Senior Analyst for Russian domestic politics for the U.S State Department Bureau of Intelligence and Research, “in many respects, Russia’s reemergence in Africa, is an earnest attempt to resume relations where they were left when the Soviet Union departed the scene.”

Continuing, Paul Stronski further argues that “the Horn of Africa represents an opportunity for Russia to secure a springboard for projecting power into the Red Sea, Gulf of Aden and the Persian Gulf. In sub-Saharan Africa, its priority is on exploiting new commercial opportunities and securing diplomatic support for its positions in multilateral institutions.”

The visible signs of Russian activities in the Central African Republic, Mali, Libya and Angola lend incredulity to Stronki’s assertion judging from the concrete deliverables so far enjoyed from Africa-Russia relationships. For instance, when the United States was unwilling to supply Nigeria with arms in 2014 to execute the war against Boko Haram because of allegations of human rights violations, Nigeria was able to place an order for 12 attack helicopters from Russia. To my Russian friends, I say thank you. Thank you on behalf of H.E Muhammadu Buhari, whom I represent. Thank you on behalf of the Nigerian people whom it is my privilege to serve in Russia.

Africa and Neo-Colonialism

Africa may have divested itself majorly from the vestiges of colonial bondage, yet the yoke of neocolonialism continues to bring new challenging shackles which erode the gains of Africa’s independence. As observed by Charles McKelvey (2017), the new struggle is characterized by “core peripheral economic relations that in essence is a continuation of the economic relations imposed by conquest and force during the colonial era… it is a rule through a figure-head bourgeoisie that inserts itself into the structures of economic penetration and exploitation benefiting itself at the expense of the majority of the people in the nation. It finds expression in economic and cultural imperialism, in conditional aid designed to exert influence or indirect control.”

Although Africa is not alone in this new malaise, its emphatic vulnerability is more reflected in Africa by the weaknesses of its institutions and the pervasive invasion of the world order that keeps it in perpetual economic subjugation to the global north. One of the famous speeches of Julius Nyerere, the former President of Tanzania, on “Ujamaa” aptly captures this situation when he said that before independence, fifteen tons of our maize could buy us a car; today, we have to produce twenty-five tons of maize to buy the same brand of car.

It is in light of the foregoing that an international trading system that guarantees equity and fairness needs to be revisited and renegotiated. In this context, I commend the shift of BRICS in its new method of doing business. This is just a beginning and not an end in the long and tortuous road to the route along which a new world order that will be based on equity, fairness and justice will go. There is no doubt that that long road towards a desired equitable world order of which only a step has been taken by BRICS, will have a series of dangerous rivers to cross in its journey to maturation. The visibility of and the potent challenge against the current world order by BRICS is indicative of the order’s waning influence and its global loss of appeal.

Understanding The Realities

Despite the tidal surge in the new Africa-Russia relations and given the strategic role played by the defunct Soviet Union, now succeeded by Russia, in the attainment of the independence of many African countries, both parties must accept the constraints posed by the former (Russia) by the new economic cum geopolitical realities. The acceptance of these new realities is important in order to properly assist in the management of Africa’s expectations from Russia, particularly in the short term.

The first reality is that though Russia is the successor to the defunct Soviet Union, it is not a substitute for the latter economically, materially, geopolitically and financially. Africa’s mindset must therefore change from that of aid-recipient nations to one of the competitive trading nations in which there must be a valuable addition to its primary products.

Next is that, as demonstrated in the recent sanctions imposed on Russia by the West, Africa holds a good prospect for the viability and profitability of Russian manufacturing companies desirous of relocating to Africa in order to capitalize on the advantage of cheap African labour. If the west is declaring fortunes as profits in Africa, Russian companies can also do so only if they agree and are willing to venture out. The booming young population of Africa and its vast reserve of natural and mineral resources provide the catalytic appeal for a such a profitable venture.

Arms Sales and African Security

A very important component in Russia-Africa relations is the supply of military equipment such as battle tanks, warships, fighter aircraft and combat helicopters. Others are small arms such as pistols and assault rifles like the Kalashnikov AK-200 series. Russian soaring arms interest in Africa can briefly be summarized as follows: arms export from Russia to Africa contributes about 35% of global arms export to the African region, while China accounts for 17%. Others are the United States (9.6%) and France (6.9%).

This increasing export of arms to the African continent by Russia could, however, in a sense, exacerbate insecurity and instability, as well as escalate the level of crimes and the proclivity to criminality. It is, therefore, in the strategic interest of Russia to be critically selective in its arms sales to African countries. Of particular worry and strategic concern to Africa is the “deployment of private Russian mercenary groups” as well as other private military groups in countries like Libya, Sudan, Mozambique and CAR. As noted by Paul Stronski, “guns have opened many more doors for the Kremlin in Africa than butter.”

Support for Africa’s democratic institutions and agencies will lead to a more stable Africa which is in Russia’s overall long-term interest and positive image than immediate short-term economic and financial gain.

Changing the Narratives

Although Russia, through the defunct Soviet Union, has had long-standing warm relations with Africa, particularly during the cold war era, today’s realities offer long-term opportunities which can be explored and exploited by both sides to advantage. An example is that with Africa’s bourgeoning young population and the increasing quality of that population through education, the exportation of Africa’s raw materials to Europe and, by extension, Russia is no longer a feasible and sustainable trajectory in any meaningful Africa-Russian long-term relations. As a viable alternative and sustainable option, I foresee an Africa which will demand more of Russian direct engagement in the extractive and manufacturing sectors.

Today, for instance, Nigeria offers Russia the advantage of that cheap and robust labour. Given Russia’s recent experience of sanctions by America and its western allies, a new model of doing business with Africa through investment has become not only sustainable but also imperative. Perhaps, one of the sectors where this model of doing business can be symbiotically harnessed is in the field of agriculture and its value chain as a result of the steep rise in the large African market and the projected certainty of huge returns on investment in this sector.

Africa holds a sizeable amount of the world’s natural resources. However, as noted by Jideofor Adibe, “Russia – just like other major powers – also covets many of Africa’s raw materials and is creating joint projects and investments in order to access them. From the Democratic Republic of the Congo to the Central African Republic, Russian companies are scaling up their activities in the mining of resources such as coltan, cobalt, gold and diamonds.

In Zimbabwe, for instance, a joint venture between Russia’s JSC Afromet and Zimbabwe’s Pen East Ltd is developing one of the world’s largest deposits of platinum group metal”. Such an example of Russia’s visibility in the collaboration and the exploitation of African natural resources can be extended to the development of vast mineral deposits in, for example, Nigeria. In this connection, contacts have been initiated with the Hon. Minister for Solid Mineral Development of the Federal Republic of Nigeria to initiate business with JSC Afromet so as to jointly explore and exploit the comparative advantage that Nigeria enjoys in its solid minerals.

Given the challenges that most African countries face in providing adequate power and energy, the number of Memoranda of Understanding (MOU) that Rosatom, Russia’s nuclear power company, has signed with at least fourteen African countries is welcoming news. What will be more significant, however, is the extent of the implementation of the MOUs since, by their very nature, the construction and operation of nuclear plants are ventures with prospects for deepening long-term relationships.

Recommendations for Future

The rapid intervention of the Russian SPUTNIK V Vaccine in Africa during the severe COVID-19 period was a magnificent show of solidarity with Africa and its people and thus demonstrated the importance of such collaboration and partnership in the face of future pandemics or calamity. Nigeria, for example, remains ever prepared to collaborate with Russia to deepen scientific knowledge in the areas of research on pandemics such as we have in COVID-19.

Although there is no doubt that Africa has benefitted immensely from its collaboration with Russia, politically, educationally, militarily, financially and security-wise yet, much circumspection and delicate balancing needs to be done by Russia between its commercial interests of arms exports to Africa and the latter’s security concerns. Africa’s long-term sustainability, stability and development are in the overall interest of both parties and the fulcrum of their relations. Nigeria, nevertheless, remains eternally grateful for Russia’s arms assistance whenever its sovereignty is challenged and Russia is called to come to its assistance.

Nigeria offers Russia the economic advantage of “produce in Africa and export elsewhere.” Such a model was effectively used by the United States of America in China. For example, imagine how many Russian pharmaceutical companies Nigeria can cheaply and conveniently service with starch as the world’s largest producer of cassava, the derivative of which is starch?

Part of Africa’s inability to optimize its economic opportunities is as a result of low energy and power. The subsisting contracts signed between Russian energy and power companies such as Lukoil, Gazprom, Rosatom and Restec and Nigeria, Egypt, Angola, Algeria and Ethiopia etc to help solve the power needs in Africa are steps in the right direction. Similarly, Rosneft’s agreement with Nigerian oil and gas Exploration Company Oranto Petroleum to develop 21 oil assets across 17 African countries should now move beyond agreement into concrete deliverables. Furthermore, Rosatom’s nuclear energy agreements with 18 African countries, including Nigeria, Egypt, Ethiopia and Rwanda, to address their energy and power concerns should be transformed into measurable results.

Additionally, the establishment of the African Continental Free Trade Area (AfCFTA), which is the largest of its kind in the world, provides Africa with a unique opportunity for intra-African trade and hence, empowers Africa’s own capacities and investments. In this respect, there has been increased agreement by African leaders for a common African currency so as to protect Africa from the associated shocks due to the vulnerabilities of commodity prices. A such common currency will give Africa a better voice in international trade and will significantly enhance Africa-Russia trade, as well as global competitiveness for foreign investment.

Meanwhile, according to the World Bank projection, by 2050, Nigeria’s population will be about 400 million, making it the third world’s largest. Such a huge market provides sufficient grounds now for strong and strategic partnerships to meet the beneficial ends of Africa and Russia. A further step in this partnership could be the gravitation from BRICS to perhaps a larger partnership that includes Nigeria – BRINCS.

Africa has remained, for too long, an inconsequential pawn on the chessboard of political-power play where the wishes and aspirations of the African people hardly mattered. Like other regions of the world, Africa’s wishes and desires, expressed in the choice of its leaders through free, fair and credible-election processes, remain sacrosanct. Imposition, super-imposition or subversion of this order challenges the sovereignties of member nations, undermines its people and questions the commonality of our shared humanity.

It is in this context that Africa and, indeed, Nigeria desires to assiduously walk and work with the Russian Federation toward the realization of this noble objective of fairly, equitably and creditably electing (not selecting) Africa’s leaders in accordance with the aspiration of the African people. This is going to be a long walk and hard work in which Africa will be at the vanguard or driver’s seat, conscious that in its own hands lies its destiny.

Africa is aware of the inextricable correlation between bad leadership and poverty. Undoubtedly, therefore, many elected African leaders have failed the litmus test of good governance through their primitive accumulation of illegal state wealth by evidential demonstration of corruption, nepotism, ethnicism and tribalism. They have, by doing so, thwarted the critical aspirations of the African people by bequeathing unto them abject poverty and hopelessness.

Yet, the cherished values of the democratic principles under which those leaders were elected provide for the method of their removal from office. In Nigeria, for example, the government of Goodluck Jonathan was voted out of power after a term in office despite his incumbency. Furthermore, the fact that some countries in Africa have recorded certain democratic successes translates to the fact that Africa’s problem is not the system but the operators of the system.

It is, therefore, hoped that Russia, along with other powerful actors in the continent, will continue to respect the integrity and sacrosanct nature of Africa’s political-leadership recruitment and change processes. Such respect provides the solid foundation on which the future stability, progress and development of Africa will be anchored. It also helps to build up the accumulated reservoir of the body of knowledge so required in Africa’s leadership recruitment process and electoral change.

In conclusion, I have attempted to summarize the context and content that shape Africa-Russia Relations. In that context and content, I have discussed Africa’s resonating past, the struggle against colonialism, the independence of African nations and the role of the then Soviet Union and, by extension, Russia in that struggle, as well as the subtle emergence of neocolonialism of the global north against the south. Part of the major essence of this lecture was to look at the past with a view to charting a course for the future, inhaling the fresh aroma of the beauty of the ‘rose’ in the Africa-Russia relationship, weeding out the thorns of inconvenience on which Africa and Russia have marched and straighten any crooked path along which both have passed so as to arrive faster to the desired destination.

Doing so calls for an atmosphere of cordiality and frankness, commitment and re-dedication. Africa-Russia relations have been a warm one, with Russia offering Africa a lot of assistance often, on an ideological basis, during Africa’s decolonization struggle. The immediate post-Soviet era marked a period of aloofness and indifference to Africa. However, the ascendancy of Africa to relevance, marked by the competition for Africa’s resources in what has been described as the “New Scramble” for Africa, has launched Russia as an indispensable part of Africa’s developmental equation.

While Africa cherishes the important MOUs and agreements Russia has with Africa through ROSATOM, GAZPROM, ROSNEFT, etc, there is a need to translate such agreements and MOUs into concrete realities. Additionally, balancing of Russia’s commercial interests of arms sales to Africa will ensure that the latter enjoys relative stability and peace so vital for its own development.

Equally important is that the constitutions of African countries remain sacrosanct with respect to the political-leadership recruitment process. The constitutions of member states of Africa also specify the methods of leadership change rather than creating leaders in perpetuity. Respect for the constitutions of African countries provides the basis for leadership legitimacy and the foundation for enduring democracy and hope in institutions and authority.

It is important to end with a quote from Joseph Siegle, the Director of Research for the African Centre for Strategic Studies, “building more mutually beneficial Africa relations depends on changes in both substance and process. Such a shift would require Russia to establish more conventional bilateral engagements with African institutions and not individuals. These initiatives would focus on strengthening trade, investment, technology transfer and educational exchanges. If transparently negotiated and equitably implemented, such Russian initiatives would be welcomed by many Africans.”

Professor Abdullahi Shehu, Ambassador Extraordinary and Plenipotentiary of the Federal Republic of Nigeria to the Russian Federation with concurrent accreditation to the Republic of Belarus.

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From Conviction To Execution: LEAD Launches Its Second Cohort In Rabat

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africa ceo forum LEAD

By Kestér Kenn Klomegâh

One year after launching a continental initiative designed to make excellence in public governance the foundation of a new drive to transform Africa, LEAD, the Africa CEO Forum’s pan-African leadership programme, takes stock of its first cohort and announces the launch of its second class. Built around a community of senior public decision-makers committed to modernising the state and to the continent’s digital transformation, this new cohort gathers for three days, from 28 to 30 August 2026, on the campus of Mohammed VI Polytechnic University (UM6P) in Rabat, Morocco.

A second cohort that confirms the programme’s durability

For its second class, LEAD brings together 50 fellows, senior public decision-makers engaged in the design and implementation of the continent’s economic and social policies. Over three days, participants take part in collective and collaborative working sessions, peer exchanges and meetings with figures from the public, business and academic spheres, in order to compare their practices and build shared responses to the major challenges of governance.

Speakers include Mehdi Jomaa, former Head of Government of Tunisia, Donald Kaberuka, Managing Partner & Founder, SouthBridge Group, and former President of the African Development Bank, Serge Ekue, President of the West African Development Bank (BOAD), Sanjay Jain, co-creator of India Stack and Director of Digital Public Infrastructure, Gates Foundation, and Mauricio Cardenas, Professor of Professional Practice in Global Leadership, Columbia SIPA, and former Finance Minister of Colombia (2012-2018).

They share their reform experience, their public policy trade-offs and their view of continental priorities. Throughout the programme, the cohort benefits from the dedicated support of Mohammed VI Polytechnic University, Asafo & Co, BOAD, BCG and the African Development Bank, LEAD partners that have chosen to invest in the transformation of African public action.

LEAD, a pan-African community serving public action

Created by the AFRICA CEO FORUM, LEAD is a leadership programme whose ambition is to reposition Africa’s administrative elite as a driver of reform, of performance and of dialogue with all the continent’s stakeholders.

Designed for senior African public decision-makers, LEAD sets out to build a lasting community of public officials able to share their experience, compare their practices and build common solutions to the major economic, technological and institutional transformations under way in Africa. That community is structured around three pillars: modernizing the state, improving public services, and strengthening cooperation between governments, development institutions and private-sector players.

From fellows to alumni: a long-term initiative

Made up of 36 fellows drawn from a range of administrations and institutions and representing 24 countries across the continent, LEAD’s first cohort demonstrated the quality and the potential of this community from its very first year. In less than twelve months, six of its members have taken a significant step forward: two have been appointed ministers, two have moved into strategic positions at the highest level of the state and two have been promoted to chief executive roles. These moves, which account for 16.7% of the first class, show the role LEAD plays as an accelerator of impact within African administrations.

By bringing together a new cohort of fellows every year, each of them joining the LEAD alumni community, the initiative follows a long-term trajectory: in time, to unite several hundred African public decision-makers around a shared culture of transparency, performance and regional cooperation.

A first year devoted to public service and digital public infrastructure

Throughout the year, the fellows devoted their work to strengthening African public action, to make excellence in public governance a central lever of transformation. An awareness campaign, run as part of Africa Public Service Day, brought to light those who, within the continent’s administrations and institutions, are concretely transforming public policy and improving the services offered to citizens.

Members of the cohort also took part in a special round table held in Kigali during the ACF 2026, in order to carry their thinking to a wider community of public and private leaders. That forum reinforced LEAD’s role as a platform for dialogue between the administrative elite and the continent’s economic players. Digital public infrastructure (DPI) formed the main thread of this first year of work.

Discussions covered issues at the heart of the digital sovereignty of African states: digital identity, payments, secure data exchange, interoperability, governance and the protection of citizens. This work examined the conditions under which African states are developing, in some cases, and can develop, in others, shared, open infrastructure robust enough to improve the quality of public services while supporting local innovation and preserving the capacity of public authorities to set the rules of the game.

A white paper to move from consuming technology to creating value

This year of work concludes with the publication, in collaboration with BCG, LEAD’s Knowledge Partner, of a white paper on Africa’s place in the digital economy and in artificial intelligence. With the digital economy still accounting for around 5% of African GDP, against close to 15% worldwide, the paper calls on the continent to shift from a logic of technology consumption to one of value creation.

The white paper identifies three structuring priorities for African public actors:

  • Building shared digital infrastructure that serves as the backbone of public services and private innovation.
  • Pooling investment in order to reach critical mass and avoid the fragmentation of efforts across the continent.
  • Favouring open and interoperable architectures, with trust and governance built in by design, so as to protect citizens while stimulating the entrepreneurial ecosystem.

The white paper is available here to all public decision-makers, technical partners and institutions concerned.

“LEAD’s first cohort confirms a simple conviction: Africa already has the women and men capable of profoundly transforming public action. Our responsibility, either with our partners, is to give them, at pan-African level, a space in which to compare experience, build common solutions and bring forward a new generation of public policy. With this second cohort, we want to accelerate the move from ambition to execution, in particular on digital public infrastructure and artificial intelligence, two decisive issues for sovereignty, for the effectiveness of the state and for value creation across the continent,” says Amir Ben Yahmed, President of the Africa CEO Forum.

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Global Leaders Head to Addis Ababa for First World Public Summit in Africa

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Addis Ababa World Public Summit

By Kestér Kenn Klomegâh

Africa is set to make history as it hosts the World Public Summit for the first time, with Addis Ababa, Ethiopia, welcoming global leaders and changemakers from July 29–30, 2026, for the landmark gathering under the theme “New World: Africa in Shaping a Shared Future.”

The inaugural African edition of the World Public Summit marks a significant milestone in the continent’s growing role in shaping international dialogue on governance, sustainable development, human-centred leadership and global cooperation.

Hosted by the World Peoples Assembly in partnership with African and international organisations, the summit will convene government officials, diplomats, business leaders, academics, journalists, youth representatives, civil society organisations and cultural leaders from across Africa and around the world.

According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Summit is not just a meeting—it is a space for unity. A space where the ‘values that unite us’ come to life: respect for people, openness to the world, responsibility for the future, and a commitment to creation.

“Today, we understand more clearly than ever: the future cannot be built alone. It is born in dialogue, in trust, in the ability to listen to one another and to act together.”

The programme begins on July 29 with a series of high-level roundtables and expert discussions covering Pan-African economic integration, civil society, education, scientific cooperation, cultural diplomacy and humanitarian partnerships.

The opening plenary, “Values, Development and Partnership as the Basis of a Sustainable and Just World,” will explore how African values—including Ubuntu—can help shape a more inclusive and sustainable global future. Discussions will also focus on youth leadership, innovation, civil society, ethical AI, public initiatives and international partnerships.

The summit will also showcase Africa’s creativity and innovation through the “Innovations for the Future” exhibition, the contemporary African art exhibition “Unity,” and the international exhibition “The World Paints Happiness.”

Another featured initiative is “The Zambezi River: Economy, Society, Soul,” an international interdisciplinary project exploring the river’s socioeconomic importance across Angola, Botswana, Mozambique, Namibia, Zambia and Zimbabwe, highlighting the shared heritage and development potential of one of Africa’s most important waterways.

The event will conclude with the adoption of the African Communiqué, reflecting the summit’s shared vision for stronger international cooperation, sustainable development and people-centred leadership.

Tsegaye Chama, General Secretary of the Global Black Centre, promised that, “The Summit will be delivered with exceptional distinction, reflecting the magnitude and spirit of the World Peoples Assembly. It embodies a unity that is not transactional, but purposeful and conscious, a unity that shapes new contours for a world that works for all peoples of the World.”

As delegates prepare to arrive in Addis Ababa, anticipation continues to build for what promises to be one of Africa’s most significant international gatherings of 2026—one that will place the continent firmly at the centre of global conversations about the future.

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Nigeria Leads Africa in Equity Funding as Startup Investment Hits $254m in H1 2026

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Investment-Worthy Startups

By Adedapo Adesanya

Nigeria regained its position as Africa’s leading destination for equity startup investment in the first half of 2026, raising $214 million in equity financing and a total of $254 million across equity and debt, according to the latest Africa: The Big Deal report.

The report, titled H1 2026: Mapping the Money, showed that Nigeria ranked second on the continent in total funding, behind Egypt, which attracted $327 million, while Kenya and South Africa followed with $126 million and $83 million, respectively.

However, the report noted that Egypt’s top position was largely driven by a single fundraising by electric mobility company Spiro, which secured $327 million, including $270 million in equity and $57 million in debt. Excluding debt financing, Nigeria emerged as Africa’s largest equity funding market in the first six months of the year.

According to the breakdown by Africa: The Big Deal, Nigeria’s equity funding of $214 million was higher than Egypt’s $183 million, while South Africa and Kenya attracted $66 million and $46 million, respectively.

Beyond funding value, Nigeria also led the continent in the number of startups that raised at least $100,000 during the review period, reclaiming the top spot after what the report described as an “underwhelming” second half of 2025.

The publication observed that Nigeria’s fundraising performance has remained relatively stable over the past few years and exceeded the $250 million mark for the first time since 2022, pointing to renewed investor confidence in the country’s startup ecosystem.

It also found that while the Big Four startup markets—Nigeria, Egypt, Kenya and South Africa—continued to dominate Africa’s investment landscape, their combined share of total funding stood at 58 per cent in the first half of 2026.

“Zooming back on the Big Four (110 out of 190 $100k+ deals, i.e. 58%), Nigeria is head and shoulders above its peers, with Egypt and Kenya almost tying, and South Africa in fourth position again,” the report noted.

The report highlighted contrasting performances among the continent’s largest startup ecosystems. While Nigeria and Egypt maintained strong funding momentum, Kenya recorded its weakest funding performance since early 2021 after a strong second half of 2025, and South Africa failed to attract $100 million in funding during the period despite leading the continent a year earlier.

Africa: The Big Deal also noted a broader shift in investor behaviour, with funding increasingly concentrated in larger transactions while early-stage investments continued to decline. According to the publication, the drop in smaller funding rounds reflects growing concerns about limited capital available for early-stage startups across Africa.

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