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Ozerov Sees Huge Economic Benefits in Russia-Africa Relations

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Oleg Borisovich Ozerov

By Kester Kenn Klomegah

Russia is consistently working on strengthening multifaceted relations with Africa despite the numerous challenges.

After the first Russia-Africa summit held in Sochi, authorities have been moving to build on this new page in the history of Russia’s relations, based on shared values and interests, with African countries.

Within the framework of the joint declaration adopted in Sochi, the Ministry of Foreign Affairs of the Russian Federation created a Secretariat of the Russia-Africa Partnership Forum.

On May 18, the Deputy Director of the Department of Africa at the Russian Foreign Ministry, Mr Oleg Borisovich Ozerov, was appointed Ambassador-at-Large and Head of the Secretariat of the Russia-Africa Partnership Forum.

He is a diplomat with extensive experience at the Foreign Ministry, including with Arab and African countries. In 2010-2017, he was Ambassador to Saudi Arabia and in 2011-2017, Permanent Representative of the Russian Federation to the Organisation of Islamic Cooperation.

In this interview with Kester Kenn Klomegah, Mr Ozerov, Ambassador-at-Large and Head of the Secretariat of the Russia-Africa Partnership Forum, talks about the primary tasks of the Secretariat, current efforts at supporting Russian companies to work in Africa and the way forward with Russia-African relations.

Here are the interview excerpts:

Why it has become important, in the first place, to create the Secretariat of the Russia-Africa Partnership Forum within the Ministry of Foreign Affairs of the Russian Federation?

In October 2019, Sochi hosted the first-ever Russia-Africa Summit, ushering in a new era in the history of Russian-African cooperation. The outcomes of this event are evident in its final declaration. The first few points in the document outline decisions made by the event’s participants concerning the establishment of a Russia-Africa Partnership Forum as the Summit’s supreme body. It also stipulates that annual political consultations will be held between the Foreign Ministers of the Russian Federation and the African States acting as the present, former and future presidents of the African Union.

There needs to be coordinated action between Russian government bodies and economic actors. This is to ensure that the decisions reached at the previous Summit can be implemented, preparations for the next high-level Russian-African meeting made, and diplomatic support provided for communicating with the African Union and government bodies in Africa which oversee foreign policy.

This need for coordinated action has led to the establishment of the Russia-Africa Partnership Forum Secretariat within the Ministry of Foreign Affairs of the Russian Federation. Incidentally, one of its key objectives will be to organise and conduct the aforementioned political consultations. The first round of these consultations was held in July of this year.

The Secretariat has already held a few meetings. Could you please talk about some of the decisions that have been taken with regards to strengthening cooperation with Africa?

I would like to make a small correction. On September 9 this year, Moscow hosted the official presentation of the Russia-Africa Partnership Forum Secretariat and the Association of Economic Cooperation with the African States.

The senior management of the Secretariat’s working bodies were presented at this event. These included the heads of the coordinating council, research council, public council, and the working media group. These people are, respectively, Chairman of the Board and CEO of the Roscongress Foundation Alexander Stuglev, Director of the Institute for African Studies of the Russian Academy of Sciences Irina Abramova, Head of Rossotrudnichestvo Yevgeny Primakov, and Director General of TASS Sergey Mikhailov.

The first meeting of the coordinating council is planned for October this year. The research and public councils should meet accordingly shortly afterwards. Draft resolutions concerning the work of the Secretariat will be discussed at the aforementioned meetings, and the media will be informed of the outcomes in due course.

Is it possible to discuss the roles of the three councils (business, research and public) that were created during the meeting of 9 September?

The decision to set up the councils was taken much earlier, as the concept for the Russia-Africa Partnership Forum Secretariat was being drawn up, which was established, as we know, in June this year. The Secretariat does not have a business council. Issues regarding coordination between federal government bodies and the business sector come under the remit of the coordinating council.

The Association of Economic Cooperation with the African States also performs the role of a business council and operates in close collaboration with the Secretariat.

All three councils are staffed by highly qualified professionals. They include people specializing in international relations, economics and finance, science, business, society and the media, who provide expert support for the Secretariat’s operations.

In your objective view, is there a lot of potential in terms of increasing trade and economic cooperation between the African continent and Russia?

Speaking to the press at the end of the inaugural Russia-Africa Summit, President of the Russian Federation Vladimir Putin noted that in 2018, Russia’s trade with African states exceeded $20 billion. As pointed out by the Head of State, “It is absolutely feasible to reach higher, and bring the value of trade to, at least, $40 billion over the next few years.”

The official figures to come out of the Sochi Summit pay testament to the enormous potential of economic relations between Russia and Africa. Of particular note is the fact that delegations from 54 African nations took part in the event. Of these, 45 were led by Heads of State and Government. The Summit was also attended by the heads of eight regional organizations in Africa, 109 foreign ministers, and two vice presidents.

The Russia-Africa Economic Forum, which took place alongside the Summit, was attended by more than 6,000 participants from 104 countries and territories. These included more than 1,100 foreign business leaders, 1,400 Russian business leaders, and 2,200 members of official delegations from Russia and abroad. Ninety-two agreements, contracts, and memoranda of understanding were signed worth a total of more than RUB 1 trillion.

I would say that when organising and holding the next high-level Russian-African meeting, one of the main objectives will be to further reinforce the powerful momentum built up in Sochi in 2019 in terms of economic collaboration between Russia and African countries. We are now enjoying comprehensive and enduring collaboration which is founded on long-term programmes.

Doing business is not easy in Africa, but what kind of approach do you envisage adopting when it comes to dealing with such issues?

We see our mission as uniting economic operators from Russia and Africa and facilitating the sharing of information between them. We also aim to ensure there is political and diplomatic support for Russian businesses in African countries. The Secretariat will work in close collaboration with the aforementioned Association of Economic Cooperation with the African States.

We enjoy robust ties and have established communications with relevant Russian ministries and government bodies responsible for foreign trade, the Chamber of Commerce and Industry of the Russian Federation, the Russian Union of Industrialists and Entrepreneurs, the Coordinating Committee on Economic Cooperation with Sub-Saharan Africa (AfroCom) and many other organisations.

The task before us is to coordinate the actions of all stakeholders with the aim of effectively promoting Russia’s economic interests in Africa and to foster mutually beneficial cooperation with African nations.

Apart from a corporate business at the state level, Foreign Minister Sergey Lavrov has spoken about developing medium-sized enterprises. Is this part of your plan?

Small and medium-sized enterprises have already been using the AfroCom platform to work together with African countries for a long time. Incidentally, this organisation is planning to soon join the Association of Economic Cooperation with the African States.

Our embassies’ consular departments and trade missions – where they exist – are also providing assistance to small and medium-sized Russian businesses. They are helping them to find partners in African countries and to establish business ties.

In accordance with the decisions made at the inaugural Russia-Africa Summit, we will also help build partnerships for small and medium-sized businesses, and help them to be more active and effective. The plans and strategies, which will be employed to achieve this, will be discussed at the first meeting of the coordinating council this October, as well as at other events.

Looking at current developments and other active foreign players on the African continent, what do you see as the key challenges there?

In terms of intensifying economic collaboration between Russia and African countries, we need to anticipate the technical aspects of having Russian businesspeople, firms, and companies do business on the African continent.

In particular, this means looking at transport accessibility (by air and sea), processes and forms related to mutual settlements, making payments, investment, providing loans, hedging risk, providing legal services and insurance, etc. Work on these aspects must be done immediately, in parallel with work on organising the next Summit.

That said, however, the current coronavirus pandemic is causing considerable difficulties, at the moment. It is affecting international travel and is hindering economic activity across the board, including in African countries.

In terms of competing with other countries on the continent, we are counting on building relations between Russian firms and companies in such a way as to create a sense of camaraderie and solidarity when it comes to withstanding foreign competitors on the African market. This will be another area of focus for the Association of Economic Cooperation with the African States as it works in close collaboration with the Secretariat.

Why do you think Russia’s soft power is not what it was during the days of the Soviet Union?

I cannot say I fully agree with that statement. There are numerous examples of how Russia has achieved notable success through soft power. I would like to particularly draw attention to the fantastic work being done by the Russian news channel, Russia Today, under Margarita Simonyan’s leadership.

And I cannot ignore the fact that in many African countries, a number of important roles within the African Union and a host of other regional organizations are staffed by graduates of Soviet and Russian universities. This says a great deal about the nature of Russian-African partnership. And there is still a high degree of interest among African people in studying in the Russian Federation.

I am also aware that Rossotrudnichestvo (the Federal Agency for the Commonwealth of Independent States, Compatriots Living Abroad and International Humanitarian Cooperation) is working hard to make Russia’s humanitarian presence both more effective and more keenly felt abroad, including in African countries.

What plans do you have in terms of developing cooperation in education, the media and culture over the next few years?

The final declaration of the inaugural Russia-Africa Summit includes an entire section on our collaboration in science, culture, education and social ties.

Rossotrudnichestvo is the main body in Russia responsible for humanitarian cooperation, including with African states. At the next meeting of the public council, we intend to discuss this agenda in detail with Yevgeny Primakov, who heads the organisation. This discussion will take place within the context of implementing the decisions of the Sochi Summit and working towards fulfilling associated objectives.

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Comviva Wins at IBSi Global FinTech Innovation Award

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Rajesh Chandiramani

By Modupe Gbadeyanka

For transforming cross-border payments through its deployment with Global Money Exchange, Comviva has been named Best In-Class Cross Border Payments.

The global leader in digital transformation solutions clinched this latest accolade at the IBS Intelligence Global FinTech Innovation Award 2025.

The recognition highlights how Comviva’s mobiquity Pay is helping shape a modern cross-border payment ecosystem that stretches far beyond conventional remittance services.

Deployed as a white label Wallet Platform and launched as Global Pay Oman App, it fulfils GMEC’s dual vision—positioning itself as an innovative payment service provider while digitally extending its core money transfer business.

The solution allows GMEC to offer international money transfers alongside seamless forex ordering and other services. These capabilities sit alongside a broad suite of everyday financial services, including bill and utility payments, merchant transactions, education-related payments, and other digital conveniences — all delivered through one unified experience.

“This award is a testament to Oman’s accelerating digital transformation and our commitment to reshaping how cross-border payments serve people and businesses across the Sultanate.

“By partnering with Comviva and bringing the Global Pay Oman Super App, we have moved beyond traditional remittance services to create a truly inclusive and future-ready financial ecosystem.

“This innovation is not only enhancing convenience and transparency for our customers but is also supporting Oman’s broader vision of building a digitally empowered economy,” the Managing Director at Global Money Exchange, Subromoniyan K.S, said.

Also commenting, the chief executive of Comviva, Mr Rajesh Chandiramani, said, “Cross-border payments are becoming a daily necessity, not a niche service, particularly for migrant and trade-linked economies.

“This recognition from IBS Intelligence validates our focus on building payment platforms that combine global reach with local relevance, operational resilience and a strong user experience. The deployment with Global Money Exchange Co. demonstrates how mobiquity® Pay enables financial institutions to move beyond remittances and deliver integrated digital services at scale.”

“The deployment of mobiquity Pay for GMEC showcases how scalable, API-driven digital wallet platforms can transform cross-border payments into seamless, value-rich experiences.

“By integrating remittances, bill payments, forex services, and AI-powered engagement into a unified Super App, Comviva has reimagined customer journeys and operational agility.

“This Best-in-Class Cross-border Payments award win stands as a testament to Comviva’s excellence in enabling financial institutions to compete and grow in a digitally convergent world,” the Director for Research and Digital Properties at IBS Intelligence, Nikhil Gokhale, said.

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World

Russia Renews Africa’s Strategic Action Plan

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Russia Africa's Strategic Action Plan

By Kestér Kenn Klomegâh

At the end of an extensive consultation with African foreign ministers, Russian Foreign Minister, Sergey Lavrov, has emphasized that Moscow would advance its economic engagement across Africa, admittedly outlining obstacles delaying the prompt implementation of several initiatives set forth in Strategic Action Plan (2023-2026) approved in St. Petersburg during the Russia-Africa Summit.

The second Ministerial Conference, by the Russian Foreign Ministry with support from Roscongress Foundation and the Arab Republic of Egypt, marked an important milestone towards raising bilateral investment and economic cooperation.

In Cairo, the capital city of the Arab Republic of Egypt, Lavrov read out the final resolution script, in a full-packed conference hall, and voiced strong confidence that Moscow would achieve its strategic economic goals with Africa, with support from the African Union (AU) and other Regional Economic blocs in the subsequent years. Despite the complexities posed by the Russia-Ukraine crisis, combined with geopolitical conditions inside the African continent, Moscow however reiterated its position to take serious steps in finding pragmatic prospects for mutual cooperation and improve multifaceted relations with Africa, distinctively in the different sectors: in trade, economic and investment spheres, education and culture, humanitarian and other promising areas.

The main event was the plenary session co-chaired by Russian Foreign Minister Sergey Lavrov and Egyptian Minister of Foreign Affairs, Emigration, and Egyptians Abroad Bashar Abdelathi. Welcome messages from Russian President Vladimir Putin and Egyptian President Abdelhak Sisi were read.

And broadly, the meeting participants compared notes on the most pressing issues on the international and Russian-African agendas, with a focus on the full implementation of the Russia-Africa Partnership Forum Action Plan for 2023-2026, approved at the second Russia-Africa Summit in St. Petersburg in 2023.

In addition, on the sidelines of the conference, Lavrov held talks with his African counterparts, and a number of bilateral documents were signed. A thematic event was held with the participation of Russian and African relevant agencies and organizations, aimed at unlocking the potential of trilateral Russia-Egypt-Africa cooperation in trade, economic, and educational spheres.

With changing times, Africa is rapidly becoming one of the key centers of a multipolar world order. It is experiencing a second awakening. Following their long-ago political independence, African countries are increasingly insisting on respect for their sovereignty and their right to independently manage their resources and destiny. Based on these conditions, it was concluded that Moscow begins an effective and comprehensive work on preparing a new three-year Cooperation and Joint Action Plan between Russia and Africa.

Moreover, these important areas of joint practical work are already detailed in the Joint Statement, which was unanimously approved and will serve as an important guideline for future work. According to reports, the Joint Statement reflects the progress of discussions on international and regional issues, as well as matters of global significance.

Following the conference, the Joint Statement adopted reflects shared approaches to addressing challenges and a mutual commitment to strengthening multifaceted cooperation with a view to ensuring high-quality preparation for the third Russia-Africa Summit in 2026.

On December 19-20, the Second Ministerial Conference of the Russia-Africa Partnership Forum was held in Cairo, Egypt. It was held for the first time on the African continent, attended by heads and representatives of the foreign policy ministries of 52 African states and the executive bodies of eight regional integration associations.

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World

TikTok Signs Deal to Avoid US Ban

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Forex Advice on TikTok

By Adedapo Adesanya

Social media platform, TikTok’s Chinese owner ByteDance has signed binding agreements with United States and global investors to operate its business in America.

Half of the joint venture will be owned by a group of investors, including Oracle, Silver Lake and the Emirati investment firm MGX, according to a memo sent by chief executive, Mr Shou Zi Chew.

The deal, which is set to close on January 22, 2026 would end years of efforts by the US government to force ByteDance to sell its US operations over national security concerns.

It is in line with a deal unveiled in September, when US President Donald Trump delayed the enforcement of a law that would ban the app unless it was sold.

In the memo, TikTok said the deal will enable “over 170 million Americans to continue discovering a world of endless possibilities as part of a vital global community”.

Under the agreement, ByteDance will retain 19.9 per cent of the business, while Oracle, Silver Lake and Abu Dhabi-based MGX will hold 15 per cent each.

Another 30.1 per cent will be held by affiliates of existing ByteDance investors, according to the memo.

The White House previously said that Oracle, which was co-founded by President Trump’s supporter Larry Ellison, will license TikTok’s recommendation algorithm as part of the deal.

The deal comes after a series of delays.

Business Post reported in April 2024 that the administration of President Joe Biden passed a law to ban the app over national security concerns, unless it was sold.

The law was set to go into effect on January 20, 2025 but was pushed back multiple times by President Trump, while his administration worked out a deal to transfer ownership.

President Trump said in September that he had spoken on the phone to China’s President Xi Jinping, who he said had given the deal the go ahead.

The platform’s future remained unclear after the leaders met face to face in October.

The app’s fate was clouded by ongoing tensions between the two nations on trade and other matters.

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