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Russia Pushes Ambitious Plan for Africa

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map of africa

By Kester Kenn Klomegah

Russia and African states have traditionally enjoyed friendly, time-tested relations, and a significant role was in the liberation of the continent, supporting the struggle of its peoples against colonialism, racism and apartheid.

Today, the development and strengthening of mutually beneficial ties with African countries and their integration associations is one of Russia’s foreign policy priorities, thus on October 23-24, Sochi hosted the first Russia-Africa Summit.

The idea to organise such an event emerged quite a long time ago; however, it has taken some time and considerable preparatory work to make this summit a starting point for building fair partnership relations based on equality and mutual practical interest.

Putin has outlined a comprehensive plan and taken note of key factors that includes:

* Russia, together with the international community, renders comprehensive assistance to Africa, inter alia, by way of reducing the debt burden of its states. With a number of countries, Russia is carrying out debt-for-development swap programmes.

* As for the potential level of investment in Africa in the next five years, the figure expected to be quite high, with a number of billion-dollar investment projects with Russia’s participation. Both Russia and Russian companies have substantial resources. African partners, in turn, will have create the necessary stable and predictable business environment and investment protection mechanisms and ensure favourable investment climate.

* Africa’s infrastructure needs are increasing, and African population is rapidly growing, as are its demands. All of this, in turn, calls for an expanded domestic market and greater consumption. Of course, where there are promising prospects for investment and profit, there is always competition, which, unfortunately, at times goes beyond the bounds of decency.

* Russia has certainly taken note of these factors and draw conclusions. Russia is not going to participate in a new “repartition” of the continent’s wealth; rather, ready to engage in competition for cooperation with Africa, provided this competition is civilized and develops in compliance with the law. Russia has a lot to offer to its African friends.

Under the headline “Russia-Africa Summit: Future-Oriented Agenda” for the Valdai Discussion Club, Deputy Director and Chief Researcher at the Institute for African Studies of the Russian Academy of Sciences, Professor Vladimir Shubin, noted that one should not be surprised that the first summit bringing together Russia and the leaders of African countries should take place after almost three decades. It id ude to multiple factors during the period after Soviet collapse.

Further, he mentioned that one serious obstacle to the development of comprehensive ties is the lack of objective information about Russia in Africa, and about Africa in Russia. The potential of bilateral relations can be realised only if both sides shed the stereotypes imposed from outside and develop mutually beneficial cooperation, grounded in reality.

Shubin added, regrettably that “the state of bilateral economic relations leaves much to be desired.” But, Moscow seeks to create favourable conditions by writing off the debt of African countries (US$20 billion), as well as introducing a system of preferences for traditional African export goods.

However, trade turnover remains limited, at less than 3% of Russia’s total foreign trade. According to the African Development Bank, Russian investment in Africa peaked at US$20 billion, although its flow is hardly stable. Unfortunately, in these areas Western sanctions have become an obstacle in recent years.

Russia’s presence in Africa has remained marginal, but this could soon change. Several delegations from African states have visited Moscow during the past few years and the Russian government appears determined to strengthen ties with Africa.

But, Russia’s intensified move to invite delegations has often been interpreted among academics and policy experts as a result of escalating competition and increasing economic influence by many foreign players in Africa.

Professor Georgy Toloraya, Chair of the Regional Projects Department, Russkiy Mir Foundation, and Executive Director, BRICS National Research Committee in Russia, explained that in the wake of increasing conflict with the West and European Union, Russia has to turn its attention (especially in economy) elsewhere and Africa is the obvious choice. The time has come to make meaningful efforts to implement agreements on bilateral basis.

Some experts acknowledge that it is never too late for Russia to enter the business game but what it requires here is to move beyond old stereotypes, prioritise corporate projects and have a new policy strategy for the continent – a market of some 350 million middle-class Africans.

Russia has to risk by investing and recognise the importance of cooperation on key potential investment issues, work closely with African leaders on the challenges and opportunities on the continent, Andy Kwawukume, an independent policy expert told me in an emailed discussion from London, noting that Russians have been trying to restage a comeback over the past few years, which was a commendable step forward.

Kwawukume, a Norwagian trained graduate, pointed out that “there is enough room and gaps in Africa for Russians to fill too, in a meaningful way, that can benefit all parties involved. The poor and low level of infrastructural development in Africa constitutes a huge business for Russian construction companies to step in. Energy is another sector Russians can help in developing. Russian officials should consider using its Russian trained African graduates as bridges to stimulate business cooperation.”

But, John Mashaka, a Tanzanian financial analyst at Wells Fargo Capital Markets in the U.S., argues that Russia is going to remain relevant in Africa if its leaders can design a policy or mechanism that will enable its people and corporations to secure credits – loans – with favourable terms including payment.

It must counter China’s increasing economic influence with much better packages such as concessional and low-interest loans. There are chances to turn the business tide and if Russians can come with a different mix of economic incentives, without doubt, they will be taking off from the track where the former USSR left after the collapse of the Soviet era.

Foreign Minister Sergey Lavrov reiterated that it was to develop a trustworthy political dialogue and strengthen mutually beneficial bilateral cooperation in accordance with the declaration on strategic partnership and to forge cooperation in mutually beneficial economic spheres.

Lavrov further stressed the situation in different African regions, including to the north of the Sahara, in the region of the Horn of Africa, including the situation in Somalia, in the Republics of Sudan and South Sudan, the Central African Republic, in the Great Lakes Region, which is the key focus of attention in the foreign policy.

“We would like to contribute to the normalisation of all multifaceted ties, as well as the settlement of other problem issues in the African continent,” said Foreign Minister Lavrov. As far back as May 2014, while addressing African diplomatic representatives, Lavrov said: “We will continue to assist states of the continent in other areas both in bilateral and multilateral formats. As it is known, Russia has written off over US$20 billion debt of African states. We are undertaking steps to further ease the debt burden of Africans, including through conclusion of agreements based on the scheme debt in exchange for development.”

In an article headlined: “Russia and Sub-Saharan Africa: Time-proven Relations” published in the magazine Russian View in May, Sergey Lavrov gave additional information on gains made in policy implementation in Africa.

“Our country takes significant practical steps to assist sustainable development of African states. Russia provides African countries with extensive preferences in trade and contributes to alleviating their debt burden – the total amount of debt relief exceeds US$20 billion. Debt-for-development agreements for a total amount of US$552 million were concluded with certain States,’ Lavrov wrote in the article.

Obviously, Russia continues providing the necessary politico-diplomatic follow-up for the African activities of leading Russian companies such as Alrosa, Gazprom, Lukoil, Rusal, Renova, Gammakhim, Technopromexport, VEB and VTB banks, which are engaged in large-scale investment projects on the continent. Positive dynamics are evident in the development of Russian-African cooperation in the minerals and raw materials, infrastructure, energy and many other spheres.

Some experts have offered both criticism and expert advice, often comparing Russia’s economic investment and influence to other foreign players. As Dane Erickson, a lecturer at the Graduate School of Public Affairs at the University of Colorado and formerly a visiting scholar at the Africa Studies Center at Beijing University, argues that the reality is that China is among many international players that have increased their attention to Africa in recent years.

Largely due to Africa’s growing reputation as a region for commerce, over the past few years China, India, Japan, and the European Union all have hosted regional meetings similar to the U.S.-Africa Leaders Summit. Africa’s fractional share in global foreign direct investment (FDI) is on the rise, and trade between Africa and a multitude of nations is also increasing rapidly, according to Erickson.

China’s trade has increased rapidly. For example, China is the most conspicuous among these actors. China’s first Forum on China-Africa Cooperation (FOCAC) occurred in 2000 and larger conferences have taken place every three years since. And while China’s official FDI is only 25 percent of that of countries like the U.S. and France, its trade dwarfs the figures of other nations. Up from just US$10 billion in 2000, Chinese-African trade came to over US$200 billion double that of the United States, the continent’s second largest trading partner.

Professor Gerrit Olivier at the Department of Political Sciences, University of Pretoria, and former South African Ambassador to the Russian Federation, wrote that “what seems to irk the Russians, in particular, is that very few initiatives go beyond the symbolism, pomp and circumstance of high level opening moves.

Professor Olivier added that Russian presence in Africa could be directed at promoting economic development and political stability in Africa by introducing more healthy competition, partnership, and greater responsibility on the continent.

Important though is the fact that the Soviet Union never tried to colonize Africa. Soviet influence in Africa disappeared almost like a mirage with the collapse of the Soviet system in 1991. In the current assessment of Russia’s influence in Africa, despite efforts towards resuscitation, has remained marginal. While, given its global status, it ought to be active in Africa as Western Europe, the European Union, America and China are, it is all but absent, playing a negligible role, according to the views of the retired diplomat.

Russia, of course, is not satisfied with this state of affairs. At present “paper diplomacy” dominates its approach, a plethora of agreements being entered into with various African countries, official visits from Moscow proliferate apace, but the outcomes has remained hardly discernible. Be that as it may, the Kremlin has revived its interest in the African continent and it will be realistic to expect that the spade work it is putting in now will at some stage show more tangible results, Professor Olivier wrote from Pretoria in South Africa.

Foreign Affairs Minister Sergey Lavrov has said that trade between Russia and Africa would grow further as more and more African partners continued to show interest in having Russians in the economic sectors in Africa.

“Our African partners are interested in Russian business working more actively there. This provides greater competition between the companies from Western countries, China, and Russia. With competition for developing mineral resources in Africa, it is easier and cheaper for our African colleagues to choose partners,” he told the staff and students at Moscow State Institute of International Affairs early September.

Soviet Union and Africa had very close and, in many respects, allied relations with most of the African countries during the decolonisation of Africa. For obvious reasons, the Soviet Union ceased to exist in 1991. As a result, Russia has to struggle through many internal and external difficulties. The past few years, it is still struggling to survive both the United States and European sanctions.

For decades, Russia has been looking for effective ways to promote multifaceted ties and new strategies for cooperation in economic areas in Africa. A number of foreign countries notably China, the United States, European Union, India, France, Turkey, Japan, and South Korea have held gatherings of this kind in that format. Now, Kremlin has held the first Russia-Africa Summit with high hopes of enhancing multifaceted ties, reshape the existing relationships and significantly roll out ways to increase effectiveness of cooperation between Russia and Africa.

Kester Kenn Klomegah is an independent researcher and policy consultant on African affairs and Brics. He is the author of the Geopolitical Handbook titled “Putin’s African Dream and The New Dawn: Challenges and Emerging Opportunities” devoted to the first Russia-Africa Summit 2019.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Russian-Nigerian Economic Diplomacy: Ajeokuta Symbolises Russia’s Remarkable Achievement in Nigeria

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Ajaokuta Steel Plant, Nigeria

By Kestér Kenn Klomegâh

Over the past two decades, Russia’s economic influence in Africa—and specifically in Nigeria—has been limited, largely due to a lack of structured financial support from Russian policy banks and state-backed investment mechanisms. While Russian companies have demonstrated readiness to invest and compete with global players, they consistently cite insufficient government financial guarantees as a key constraint.

Unlike China, India, Japan, and the United States—which have provided billions in concessionary loans and credit lines to support African infrastructure, agriculture, manufacturing, and SMEs—Russia has struggled to translate diplomatic goodwill into substantial economic projects. For example, Nigeria’s trade with Russia accounts for barely 1% of total trade volume, while China and the U.S. dominate at over 15% and 10% respectively in the last decade. This disparity highlights the challenges Russia faces in converting agreements into actionable investment.

Lessons from Nigeria’s Past

The limited impact of Russian economic diplomacy echoes Nigeria’s own history of unfulfilled agreements during former President Olusegun Obasanjo’s administration. Over the past 20 years, ambitious energy, transport, and industrial initiatives signed with foreign partners—including Russia—often stalled or produced minimal results. In many cases, projects were approved in principle, but funding shortfalls, bureaucratic hurdles, and weak follow-through left them unimplemented. Nothing monumental emerged from these agreements, underscoring the importance of financial backing and sustained commitment.

China as a Model

Policy experts point to China’s systematic approach to African investments as a blueprint for Russia. Chinese state policy banks underwrite projects, de-risk investments, and provide finance often secured by African sovereign guarantees. This approach has enabled Chinese companies to execute large-scale infrastructure efficiently, expanding their presence across sectors while simultaneously investing in human capital.

Egyptian Professor Mohamed Chtatou at the International University of Rabat and Mohammed V University in Rabat, Morocco, argues: “Russia could replicate such mechanisms to ensure companies operate with financial backing and risk mitigation, rather than relying solely on bilateral agreements or political connections.”

Russia’s Current Footprint in Africa

Russia’s economic engagement in Africa is heavily tied to natural resources and military equipment. In Zimbabwe, platinum rights and diamond projects were exchanged for fuel or fighter jets. Nearly half of Russian arms exports to Africa are concentrated in countries like Nigeria, Zimbabwe, and Mozambique. Large-scale initiatives, such as the planned $10 billion nuclear plant in Zambia, have stalled due to a lack of Russian financial commitment, despite completed feasibility studies. Similar delays have affected nuclear projects in South Africa, Rwanda, and Egypt.

Federation Council Chairperson Valentina Matviyenko and Senator Igor Morozov have emphasized parliamentary diplomacy and the creation of new financial instruments, such as investment funds under the Russian Export Center, to provide structured support for businesses and enhance trade cooperation. These measures are designed to address historical gaps in financing and ensure that agreements lead to tangible outcomes.

Opportunities and Challenges

Analysts highlight a fundamental challenge: Russia’s limited incentives in Africa. While China invests to secure resources and export markets, Russia lacks comparable commercial drivers. Russian companies possess technological and industrial capabilities, but without sufficient financial support, large-scale projects remain aspirational rather than executable.

The historic Russia-Africa Summits in Sochi and in St. Petersburg explicitly indicate a renewed push to deepen engagement, particularly in the economic sectors. President Vladimir Putin has set a goal to raise Russia-Africa trade from $20 billion to $40 billion over the next few years. However, compared to Asian, European, and American investors, Russia still lags significantly. UNCTAD data shows that the top investors in Africa are the Netherlands, France, the UK, the United States, and China—countries that combine capital support with strategic deployment.

In Nigeria, agreements with Russian firms over energy and industrial projects have yielded little measurable progress. Over 20 years, major deals signed during Obasanjo’s administration and renewed under subsequent governments often stalled at the financing stage. The lesson is clear: political agreements alone are insufficient without structured investment and follow-through.

Strategic Recommendations

For Russia to expand its economic influence in Africa, analysts recommend:

  1. Structured financial support: Establishing state-backed credit lines, policy bank guarantees, and investment funds to reduce project risks.
  2. Incentive realignment: Identifying sectors where Russian expertise aligns with African needs, including energy, industrial technology, and infrastructure.
  3. Sustained implementation: Turning signed agreements into tangible projects with clear timelines and milestones, avoiding the pitfalls of unfulfilled past agreements.

With proper financial backing, Russia can leverage its technological capabilities to diversify beyond arms sales and resource-linked deals, enhancing trade, industrial, and technological cooperation across Africa.

Conclusion

Russia’s Africa strategy remains a work in progress. Nigeria’s experience with decades of agreements that failed to materialize underscores the importance of structured financial commitments and persistent follow-through. Without these, Russia risks remaining a peripheral player (virtual investor) while Arab States such as UAE, China, the United States, and other global powers consolidate their presence.

The potential is evident: Africa is a fast-growing market with vast natural resources, infrastructure needs, and a young, ambitious population. Russia’s challenge—and opportunity—is to match diplomatic efforts with financial strategy, turning political ties into lasting economic influence.

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Afreximbank Warns African Governments On Deep Split in Global Commodities

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Commodities Market

By Adedapo Adesanya

Africa Export-Import Bank (Afreximbank) has urged African governments to lean into structural tailwinds, warning that the global commodity landscape has entered a new phase of deepening split.

In its November 2025 commodity bulletin, the bank noted that markets are no longer moving in unison; instead, some are powered by structural demand while others are weakening under oversupply, shifting consumption patterns and weather-related dynamics.

As a result of this bifurcation, the Cairo-based lender tasked policymakers on the continent to manage supply-chain vulnerabilities and diversify beyond the commodity-export model.

The report highlights that commodities linked to energy transition, infrastructure development and geopolitical realignments are gaining momentum.

For instance, natural gas has risen sharply from 2024 levels, supported by colder-season heating needs, export disruptions around the Red Sea and tightening global supply. Lithium continues to surge on strong demand from electric-vehicle and battery-storage sectors, with growth projections of up to 45 per cent in 2026. Aluminium is approaching multi-year highs amid strong construction and automotive activity and smelter-level power constraints, while soybeans are benefiting from sustained Chinese purchases and adverse weather concerns in South America.

Even crude oil, which accounts for Nigeria’s highest foreign exchange earnings, though still lower year-on-year, is stabilising around $60 per barrel as geopolitical supply risks, including drone attacks on Russian facilities, offset muted global demand.

In contrast, several commodities that recently experienced strong rallies are now softening.

The bank noted that cocoa prices are retreating from record highs as West African crop prospects improve and inventories recover. Palm oil markets face oversupply in Southeast Asia and subdued demand from India and China, pushing stocks to multi-year highs. Sugar is weakening under expectations of a nearly two-million-tonne global surplus for the 2025/26 season, while platinum and silver are seeing headwinds from weaker industrial demand, investor profit-taking and hawkish monetary signals.

For Africa, the bank stresses that the implications are clear. Countries aligned with energy-transition metals and infrastructure-linked commodities stand to benefit from more resilient long-term demand.

It urged those heavily exposed to softening agricultural markets to accelerate a shift into processing, value addition and product diversification.

The bulletin also called for stronger market-intelligence systems, improved intra-African trade connectivity, and investment in logistics and regulatory capacity, noting that Africa’s competitiveness will depend on how quickly governments adapt to the new two-speed global environment.

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Aduna, Comviva to Accelerate Network APIs Monetization

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Aduna Comviva Network APIs Monetization

By Modupe Gbadeyanka

A strategic partnership designed to accelerate worldwide enterprise adoption and monetisation of Network APIs has been entered into between Comviva and the global aggregator of standardised network APIs, Aduna.

The adoption would be done through Comviva’s flagship SaaS-based platform for programmable communications and network intelligence, NGAGE.ai.

The partnership combines Comviva’s NGAGE.ai platform and enterprise onboarding expertise with Aduna’s global operator consortium.

This unified approach provides enterprises with secure, scalable access to network intelligence while enabling telcos to monetise network capabilities efficiently.

The collaboration is further strengthened by Comviva’s proven leadership in the global digital payments and digital lending ecosystem— sectors that will be among the biggest adopters of Network APIs.

The NGAGE.ai platform is already active across 40+ countries, integrated with 100+ operators, and processing over 250 billion transactions annually for more than 7,000 enterprise customers. With its extensive global deployment, NGAGE.ai is positioned as one of the most scalable and trusted platforms for API-led network intelligence adoption.

“As enterprises accelerate their shift toward real-time, intelligence-driven operations, Network APIs will become foundational to digital transformation. With NGAGE.ai and Aduna’s global ecosystem, we are creating a unified and scalable pathway for enterprises to adopt programmable communications at speed and at scale.

“This partnership strengthens our commitment to helping telcos monetise network intelligence while enabling enterprises to build differentiated, secure, and future-ready digital experiences,” the chief executive of Comviva, Mr Rajesh Chandiramani, stated.

Also, the chief executive of Aduna, Mr Anthony Bartolo, noted that, “The next wave of enterprise innovation will be powered by seamless access to network intelligence.

“By integrating Comviva’s NGAGE.ai platform with Aduna’s global federation of operators, we are enabling enterprises to innovate consistently across markets with standardised, high-performance Network APIs.

“This collaboration enhances the value chain for operators and gives enterprises the confidence and agility needed to launch new services, reduce fraud, and deliver more trustworthy customer experiences worldwide.”

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