World
Russian Chamber of Commerce and Business Coordination with African Countries
By Kester Kenn Klomegah
Largely dictated by the results of the first Russia-Africa summit and the persistent economic sanctions by the United States and European Union, Russia is seriously reorganising towards increasing its economic prints in Africa.
Russia is, indeed, putting its house in order, identifying strategies and drawing roadmaps, and most importantly restructuring.
Quite recently, the Ministry of Foreign Affairs created the Secretariat for Russia-Africa Partnership Forum. The Secretariat further established an Association for Economic Cooperation with the African States.
Now, the Russian Chamber of Commerce and Industry has restructured the Coordinating Committee for Economic Cooperation with the African States that was established as far back in 2009.
According to historical documents, the Coordinating Committee for Economic Cooperation with African States was created on the initiative of the Chamber of Commerce and Industry of the Russian Federation and Vnesheconombank with the support of the Federation Council and the State Duma of the Federal Assembly of the Russian Federation. It has had support from the Ministry of Foreign Affairs, the Ministry of Economy and Trade, the Ministry of Natural Resources, as well as the Ministry of Higher Education and Science.
With the participation of representatives of business and expert circles, this committee’s primary task is to consolidate the efforts of business, government and public structures of Russia, facilitate the intensification of economic activities in Africa.
It has the responsibility for adopting a more pragmatic approach to business, for deepening and broadening economic collaborations and for the establishment of direct mutually beneficial contacts between entrepreneurs and companies from Russia and African countries.
During its last meeting, the participants discussed various issues and acknowledged that the committee has achieved little since its establishment. The meeting has also identified factors that have hindered its expected achievements and overall performance since 2009.
Admittedly, a quick assessment for over one decade has shown very little impact and tangible results. The committee’s documents listed more than 150 Russian companies as members, most of them are hardly seen participating in business events in order to get acquainted with investment opportunities in Africa.
Notwithstanding the setbacks down these years, Russians are full of optimism. A completely new team was put in place during the meeting hosted by the Russian Business Chamber.
Russian Senator Igor Morozov was elected as the new Chairman of the Coordinating Committee for Economic Cooperation with African States. He is currently the Deputy Chairman of the Federation Council Committee of the Federal Assembly of the Russian Federation for Science, Education and Culture.
As President of the Russian Chamber of Chamber and Industry, Sergei Katyrin, put it in remarks at the meeting, “the new leader has the primary task now to accelerate Russia’s economic return to this continent, from which we practically left in the 90s and now it is very difficult to increase presence there in Africa.”
According to Katyrin, Russia’s economic presence in Africa today is significantly inferior in comparison to the positions of leading Western countries and BRICS partners. “It’s time to overcome this yawning gap. Today, we face a difficult task to ensure the activities of Russian entrepreneurship on the African continent in the new conditions, taking into account all the consequences of the coronavirus pandemic.”
“The African continent is of strategic interest for the Russian economy,” explained Katyrin. It is enough to cite just a few figures to understand why this region attracts entrepreneurs. Africa has 30 per cent of the world’s mineral reserves, including 70 per cent – platinum group metals, more than 50 types of precious stones, oil and gas reserves, and so forth.
In 2019, six Sub-Saharan African countries ranked among the top 10 fastest growing economies in the world. The potential of African countries is incomparably greater than the current level of their development. Cooperating with Africa, among other things, will contribute to the implementation of the national project to increase non-resource Russian exports to $250 billion.
Katyrin, however, stressed the necessity to resolve the financial mechanism for business. “We need a state financial mechanism to support the work of Russian business in Africa otherwise it will be very difficult to break through the fierce competition of Western companies with such support. We need to focus on those areas where you can definitely count on success,” he told the meeting.
While pointing to lack of business information and the need to get rid of stereotypes about Africa, Sergei Katyrin emphasized that the maximum intensification of work needed right now for the reason that, due to the general economic recession in the world, new companies from all developed countries are rushing with concrete business to new markets emerging in Africa.
In order to move forward and achieve significant success, the reorganized committee has to make double efforts in providing with Russian and African exporters, in both cases or both ways, basis for acquiring adequate knowledge of trade and investment procedures, rules and regulations as well as the existing market conditions.
There are also complicated certification procedures, expensive logistics, security and guarantee issues, and lack of direct aviation connections affecting the entire process of cooperation. The committee has to deal with these challenging questions as it makes the way for boosting Russia’s economic presence in Africa.
On the other hand, it has to work closely with African counterparts on the challenges and opportunities on the continent. Russia is, so far, a closed market for business executives in many African countries. It is difficult to access the Russian market. Africans are doing brisk business in the United States, in Europe and in Asia. All that is necessary here is for Russia and Africa to make consistent efforts to look for new ways, practical efforts at removing existing obstacles that have impeded trade and investment over the years.
In practical reality, resetting a comprehensive African agenda requires extensive work and decisive leadership. With 54 African Union member countries already signed up for the African Continental Free Trade Area (AfCFTA), gives an additional signal for foreign players seeking to take advantage of this new opportunity in Africa. An undeniable driving factor for consideration is that the AfCFTA has a lot more on offer besides the fact that it creates a single market of 1.3 billion people.
According to Sergei Katyrin, Russia is gradually overcoming the negative consequences of its retreat from Africa in the 90s. The first Russia-Africa summit and economic forum took place in Sochi in October 2019. During summit discussions, African representatives there constantly raised the question of the need for a more active return of Russia to the continent. Africans still have a nostalgic interest towards Russia and Russians are eager to use that as unifying factor. The Soviet Union has had very close and, in many respects, allied relations with most of the countries during the decolonization of Africa.
Kester Kenn Klomegah writes frequently about Russia, Africa and the BRICS.
By Kestér Kenn Klomegâh
For the first time in its history, the World Public Summit will be held on the African continent. On 29–30 July 2026, Addis Ababa, the capital of Ethiopia, will host the World Public Summit. Africa — “A New World: Africa in Shaping a Shared Future.”
The Summit is organised by the World Peoples Assembly in cooperation with African partner organisations. It will bring together leaders of public diplomacy, representatives of international intergovernmental and non-governmental organisations, academics, experts, representatives of the education and cultural sectors, youth leaders, socially responsible businesses, media professionals, and civil society institutions from across Africa and other regions of the world.
The World Public Summit. Africa continues the work initiated during the First World Public Assembly “A New World of Conscious Unity,” held in Moscow in September 2025, and serves as one of the key milestones in preparation for the Second World Public Assembly “A New World: Values That Unite,” which will take place in Moscow on 18–19 September 2026.
Today, Africa is emerging as one of the principal centres of global development. Rapid demographic growth, expanding entrepreneurship, strengthening regional integration, rich cultural heritage, and the growing role of civil society institutions make the continent an increasingly important contributor to the future architecture of international cooperation.
The Summit will focus on issues of genuine sovereignty and sustainable development, public diplomacy, preservation of cultural and historical heritage, international cooperation in education and science, youth engagement, innovation-driven development, creative industries, and the formation of new partnerships among countries and peoples.
The main business programme of the Summit will take place on 30 July 2026 at the headquarters of the United Nations Economic Commission for Africa (UNECA) in Addis Ababa. Holding the Summit at UNECA highlights its pan-African dimension and creates opportunities for broad international dialogue on humanitarian cooperation and public diplomacy.
The programme will include plenary sessions, strategic dialogues, and expert panels dedicated to values-based development, education, culture, youth leadership, innovation, and international cooperation.
Participation has already been confirmed by Professor Saidou Madougou, Director of the Department of Education, Science, Technology and Innovation of the African Union; Rita Bissoonauth, Director of the UNESCO Liaison Office to the African Union and UNECA in Addis Ababa; Zuzana Schwidrowski, Director of the Macroeconomics, Finance and Governance Division of UNECA, as well as ministers, leaders of public organisations, and representatives of the business community from a number of African countries.
On the same day, the ADWA Victory Memorial Museum—Ethiopia’s national memorial complex dedicated to the Victory of Adwa and an important centre for preserving the historical memory of the Ethiopian people—will host the award ceremony of the regional stage of the V International Competition “Leader of Public Diplomacy”, followed by a large-scale cultural programme.
One of the key outcomes of the Summit will be the adoption of the African Communiqué, reflecting proposals and recommendations aimed at strengthening humanitarian, educational, cultural, and public cooperation between African countries and other regions of the world.
The outcomes, initiatives, and recommendations were developed during the World Public Summit. Africa will be presented at the Second World Public Assembly “A New World: Values That Unite”, to be held in Moscow on 18–19 September 2026.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Addis Ababa Summit is an important step toward building a new world founded on mutual respect, cultural diversity, dialogue and sustainable development.”
By Adedapo Adesanya
The United Kingdom will get its seventh Prime Minister in 10 years as Mr Keir Starmer announced his resignation on Monday.
The Minister said he is stepping down as leader of the governing Labour Party and will leave office within weeks, scarcely two years after being elected in a landslide.
Mr Starmer says he will remain caretaker prime minister until a new Labour leader is chosen by the party.
Mr Starmer made the announcement after facing growing pressure to hand over to a new leader who can try to revive the government’s flagging fortunes.
He led Labour to a landslide election victory in July 2024, but since then, his popularity and that of the party have plummeted.
His departure was triggered by the victory of Mr Andy Burnham in a special election last week. The popular ex-mayor of Greater Manchester planned to challenge the existing PM for the Labour leadership.
Mr Starmer made the announcement outside the prime minister’s 10 Downing St. residence with a brief statement on Monday.
“The question my party is asking now is whether I am best placed to lead us into the next general election,” Mr Starmer said. “I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.
Mr Starmer is the sixth prime minister in a decade to stand outside 10 Downing Street and announce a premature departure.
It comes the day before Britain marks the 10th anniversary of its vote to leave the European Union, a decision that still affects the country’s economy and politics.
Over the past decade, 10 Downing Street has had six occupants, including Mr David Cameron, who left office in 2016 after the Brexit referendum and was succeeded by Ms Theresa May. She was followed by Mr Boris Johnson, whose tenure covered Brexit and the COVID-19 pandemic. After Mr Johnson came Ms Liz Truss, whose 49-day premiership was the shortest in British history. Mr Rishi Sunak then took office before being succeeded by Mr Starmer, the outgoing occupant of Number 10.
By Aduragbemi Omiyale
A financing facility of up to $60 million has been secured by AXIAN Energy, the energy division of the AXIAN Group.
The funding package was provided by MCB, one of the leading financial institutions in the Indian Ocean region.
It comprises a $40 million revolving credit facility with a three-year tenor and extension option, and $20 million in unfunded instruments, providing AXIAN Energy with enhanced financial flexibility, enabling the company to rapidly mobilise resources and seize development opportunities across its target markets.
The energy firm is expected to use the capital to deliver large-scale energy infrastructure projects across Africa.
Over the past two years, AXIAN Energy has significantly accelerated its growth by expanding its renewable energy project pipeline, with solar projects currently under development in Senegal, Benin, Zambia, Côte d’Ivoire, Madagascar, and Burkina Faso.
Building on this momentum, AXIAN Energy now operates a portfolio comprising 350 MW of installed renewable energy capacity, supported by 77 MWh of energy storage capacity, positioning the AXIAN Group as a major contributor to Africa’s energy transition.
The chief executive of AXIAN Energy, Mr Benjamin Memmi, said, “This transaction marks a key milestone in AXIAN Energy’s growth trajectory. It provides us with the financial capacity to sustain the momentum we have built over the past two years, further strengthening our renewable energy portfolio and expanding our presence across new African markets.”
Also commenting, the Global Head of Structured Finance at MCB, Mr Mathieu Delteil, said, “We are proud to support AXIAN Energy in structuring this facility, reaffirming our commitment to enabling transformative projects across Africa.
“By leveraging our sector expertise and deep understanding of regional markets, we have delivered a tailored financing solution that aligns with AXIAN’s long-term renewable energy ambitions.
“This partnership highlights our role as a strategic financial partner, mobilising capital towards investments that drive sustainable growth and accelerate the energy transition across the continent.”
The financing agreement between the two organisations strengthens their long-standing relationship because it is driven by a shared commitment to supporting infrastructure development and economic growth across Africa.
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