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Russia’s Summit on Africa: Challenges, Implications and Beyond

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Kremlin Red Square Russia's Summit

By Kester Kenn Klomegah

With highly expected symbolism, Russia’s primary focus at the forthcoming November summit in St. Petersburg with African leaders, corporate business directors, representatives from the academic community, civil society organizations and media will largely be renewing most of its unfulfilled bilateral agreements and making new pledges that will, as usual, be incorporated into a second joint declaration.

Brilliant speeches reminded of long-standing traditions of friendship and solidarity, how Soviets assisted African countries in their struggle to attain independence and established statehood, and further highlighted neo-colonialism tendencies wide spreading on the continent.

That Russia stands with Africa on matters of strengthening peace and stability on the continent and ensuring regional security. Next is absolute readiness to engage in broadening cooperation in all economic sectors.

While the first summit was described as highly successful due to its spectacular blistering symbolism and has offered the necessary solid impetus for raising to qualitative level the multifaceted relations, especially in the economic spheres with Africa, much has still not been pursued as expected. Behind the shadows of the bilateral agreements, some of the projects were simultaneously assigned to either Western or European investors.

Long before the historic summit, the African foreign minister and delegations had lined up visiting Moscow. Those frequent official visits were intended to show off that Russia is in high demand as indicated in a 150-paged new policy released last November by a group of 25 leading experts headed by Sergei A. Karaganov, the Honorary Chairman of the Presidium of the Council on Foreign and Defence Policy.

The report vividly highlighted some pitfalls and shortcomings in Russia’s approach towards Africa. It further pointed to Russia’s consistent failure in honouring its several agreements and pledges over the years. It decried the increased number of bilateral and high-level meetings that yield little or bring to the fore no definitive results. In addition, insufficient and disorganized Russian African lobbying combined with a lack of “information hygiene” at all levels of public speaking, says the policy report.

There are, indeed, to demonstrate “demand for Russia” in the non-Western world; the formation of ad hoc political alliances with African countries geared towards competition with the collective West. Apart from the absence of a public strategy for the continent, there is a lack of coordination among various state and para-state institutions working with Africa.

Despite the growth of external players’ influence and presence in Africa, Russia has to intensify and redefine its parameters. Russia’s foreign policy strategy regarding Africa has to spell out and incorporate the development needs of African countries.

Unlike most competitors, Russia has to promote an understandable agenda for Africa: working more on sovereignty, continental integration, infrastructure development, human development (education and medicine), security (including the fight against hunger and epidemics), normal universal human values, the idea that people should live with dignity and feel protected.

Nearly all the Russian experts who participated in putting the report together unreservedly agreed with this view. The main advantage of such an agenda is that it may be more oriented to the needs of Africans than those of its Western and European competitors. It is advisable to present such a strategy already at the second Russia-Africa summit and discuss and coordinate it with African partners before that. Along with the strategy, it is advisable to adopt an Action Plan – a practical document that would fill cooperation with substance between summits.

Vsevolod Tkachenko, the Director of the Africa Department of the Russian Foreign Ministry, stated during one of the preparatory meetings, “the African partners expect concrete deeds, maximum substantive ideas and useful proposals.” The current task is to demonstrate results and highlight achievements to the African side. Over the past years, African countries have witnessed many bilateral agreements, memoranda of understanding and pledges.

Russia has to set different narratives about its aspirations and intentions of returning to Africa. The approach has to move from rhetoric and mere declarations of interest. Since the basis of the summit remains the economic interaction between Russia and Africa, “the ideas currently being worked out on new possible instruments to encourage Russian exports to Africa, Russian investments to the continent, such as a fund to support direct investment in Africa, all these deserve special attention,” Tkachenko says.

According to an official report posted on the website, Russia’s Foreign Affairs Minister Sergei Lavrov, during the “Government Hour” in the State Duma on January 26, stated that the “cooperation with African countries has expanded to reach new frontiers. Together with African friends, we are working on preparations for the second Russia-Africa summit scheduled to be held this year.” Previously, for instance, Lavrov explicitly indicated: “Russia’s political ties, in particular, are developing dynamically. But economic cooperation is not as far advanced as political ties.”

Many experts have expressed concern about the relationship between Russia and Africa, most often comparing it with other foreign players on the continent within the framework of sustainable development there in Africa. It is about time to make meaningful efforts to implement tons of bilateral agreements already signed with African countries.

“Russia, of course, is not satisfied with this state of affairs. At present diplomacy dominates its approach: a plethora of agreements were signed with many African countries, official visits proliferate apace, but the outcomes remain hardly discernible,” Professor Gerrit Olivier from the Department of Political Sciences, the University of Pretoria in South Africa and a former South African Ambassador to the Russian Federation wrote in an emailed comment.

“While, given its global status, Russia 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. Be that as it may, the Kremlin has revived its interest in the African continent and it will be realistic to expect that the spadework it is putting in now will at some stage show more tangible results,” Olivier added.

Zimbabwe’s Ambassador to Russia, Brigadier General (rtd) Nicholas Mike Sango, who has been in his post since July 2015, expresses his views on the relations between Africa and the Russian Federation. While Russia has traditional ties with Africa, its economic footprints are not growing as expected. It has however attempting to transform the much boasted political relations into a more comprehensive and broad economic cooperation, he noted in his conversation with me.

He pointed to the disparity in the level of development, the diversity of cultures and aspirations of the peoples of the two regions, there is a growing realization that Africa is an important partner in the “emerging and sustainable polycentric architecture of the world order” as Foreign Minister Sergey Lavrov has aptly asserted. But in fact, Africa’s critical mass can only be ignored at great risk, therefore.

For a long time, Russia’s foreign policy on Africa has failed to pronounce itself in practical terms as evidenced by the countable forays into Africa by Russian officials. The Russian Federation has shied away from economic cooperation with Africa, making forays into the few countries that it has engaged in the last few years. African leaders hold Russia in high esteem as evidenced by a large number of African embassies in Moscow. Furthermore, Russia has no colonial legacy in Africa, according to the Zimbabwean diplomat.

Ambassador Sango, who previously held various high-level posts such as military adviser in Zimbabwe’s Permanent Mission to the United Nations, and as an international instructor in the Southern African Development Community (SADC), also said that “Russia has not responded in the manner expected by Africa, as has China, India and South Korea, to name a few. Africa’s expectation is that Russia, while largely in the extractive industry, will steadily transfer technologies for local processing of raw materials as a catalyst for Africa’s development.”

While Russia and Africa have common positions on the global platform, the need to recognize and appreciate the aspirations of the common man cannot be overstated. Africa desires economic upliftment, human security in the form of education, health, shelter as well as security from transnational terrorism among many challenges afflicting Africa. The Russian Federation has the capacity and ability to assist Africa to overcome these challenges leveraging on Africa’s vast resources, Ambassador Sango concluded.

For more than three decades after the Soviet collapse in 1991, Russia has had different degrees of political relations and currently looking forward to building stronger economic cooperation. During these years, the relations have also transited through distinctive phases taking cognizance of challenges and fast-changing global politics.

In an interview discussion for this story, Shirley Ayorkor Botchwey, the Minister of Foreign Affairs and Regional Integration of Ghana explains to this research writer that “Although, for a relationship lasting this long with Africa, one would have expected it to move past where it is now. In short, there is still room for improvement, in fostering particularly stronger economic ties.”

It is hoped that Russia continues consistently to catch up with other active foreign competitors, makes attempts to transform the well-developed political relations with broader economic cooperation in the coming years. Ultimately, emphasis should also be placed on developing ‘people-to-people’ relations, whereby the peoples of both countries would have a better understanding of each other.

Critically not much has been achieved, looking at the Russia-Africa relations from the perspective of regional organizations – especially the Southern African Development Community (SADC), when it was headed by Lawrence Stergomena. Regrettably, she explained during discussions with me that like most of the developing countries, Southern African countries have largely relied on multilateral and regional development financial institutions to fund their development projects.

In this regard, SADC welcomes investors from all over the world. In reality, Russia has not been that visible in the region as compared to China, India or Brazil. On the other hand, it is encouraging that Russia is currently attempting to position itself to be a major partner with Southern Africa, underlined Stergomena, and further explained that the SADC is an inter-governmental organization with its primary goal of deepening socio-economic cooperation and integration in the southern region.

Dr Babafemi A. Badejo, Professor of Political Science and International Relations at Chrisland University, Abeokuta, Nigeria, argues that many foreign players and investors are now looking forward to exploring several opportunities in the African Continental Free Trade Area (AfCFTA), which provides unique and valuable access to an integrated African market of over 1.2 billion people. In practical reality, it aims at creating a continental market for goods and services, with free movement of businesspeople and investments in Africa.

Badejo argues further that Russia’s gradual engagement can be boosted by African media popularizing and boosting knowledge on such engagements by Russia. Hosting the next summit would feed very well into popularizing Russia’s efforts at engagement with African leaders. However, promoting relations with the continent of Africa would require more than a one-off event with African leaders who have varying levels of legitimacy from performance or lack of it in their respective countries.

Interestingly, and at the current moment, not much of Russia’s image is promoted by the media in Africa. African media should have the opportunity to report more about Russian corporate presence in Africa and their added value to the realization of the sustainable development goals in Africa. This corporate presence can support the building of the media image of Russia in Africa through involvement with people-at-large oriented activities.

In this final analysis, Russia has to make consistent efforts in building its media network that could further play a key role in strengthening relations with Africa, the academic professor noted in his lengthy discussions on Russia-Africa and concluded that it is Western perception and narrative of Russia that pervades the African media. Russia needs to do more in using media to tell its own story and interest in Africa.

President Vladimir Putin noted at the VTB Capital’s Russia Calling Forum, that many countries had been “stepping up their activities on the African continent” but added that Russia could not cooperate with Africa “as it was in the Soviet period, for political reasons.” In his opinion, cooperation with African countries could be developed on a bilateral basis as well as on a multilateral basis, through the framework of BRICS (Brazil, Russia, India, China and South Africa).

With its impressive relations, Russia has not pledged publicly concrete funds toward implementing its policy objectives in Africa. Its investment efforts have been limited thus far which some experts attributed to the lack of a system of financing. While Russians are very cautious about making financial commitments, the financial institutions are not closely involved in foreign policy initiatives in Africa.

In addition, experts have identified lack of effective coordination and follow-ups combined with inconsistency are basic factors affecting the entire relations with Africa. While the first summit is still considered as the largest symbolic event in history, many significant issues in the joint declaration have not been pursued and that could lay down a comprehensive strategic roadmap for building the future Russia-African relations.

As publicly known, China, Japan and India have committed funds publicly during their summits, while large investment funds have also come from the United States and European Union, all towards realizing various economic and infrastructure projects and further collaborating in new interesting areas as a greater significant part of the Sustainable Development Goals (SDGs) in Africa.

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Economy

Domestic Stock Market Witnesses Shortfall in Weekly Activity Level

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By Dipo Olowookere

The level of activity at the Nigerian Exchange (NGX) shrank last week after a turnover of 4.373 billion shares worth N97.783 billion in 110,736 deals compared with the 6.617 billion shares worth N113.224 billion executed in 109,590 deals in the preceding week.

It was observed that the financial services industry led the activity chart by volume with 2.252 billion units sold for N47.204 billion in 44,808 deals, contributing 51.49 per cent and 48.27 per cent to the total trading volume and value, respectively.

The ICT sector traded 1.118 billion equities worth N13.148 billion in 10,413 deals, and the energy segment exchanged 233.891 million stocks valued at N4.726 billion in 7,515 deals.

eTranzact, Access Holdings, and FCMB accounted for 1.921 billion shares worth N22.218 billion in 9,558 deals, contributing 43.93 per cent and 22.72 per cent to the total trading volume and value apiece.

The best-performing equity was Morison Industries with a price appreciation of 32.49 per cent to sell for N4.69, Mecure Industries expanded by 27.35 per cent to N37.95, Japaul gained 26.27 per cent to finish at N2.66, Sovereign Trust Insurance improved by 17.24 per cent to N3.40, and PZ Cussons chalked up 16.19 per cent to settle at N47.00.

On the flip side, Eterna lost 14.93 per cent to quote at N30.20, UAC Nigeria declined by 14.26 per cent to N83.00, eTranzact shed 10.00 per cent to end at N12.60, Transcorp Hotels depreciated by 9.95 per cent to N155.60, and Chellarams crumbled by 9.90 per cent to N13.20.

In the five-day trading week, 49 equities appreciated versus 55 equities a week earlier, 41 shares depreciated versus 29 share in the previous week, and 57 stocks closed flat versus 63 stocks in the preceding week.

At the close of business for the week last Friday, the All-Share Index (ASI) was up by 1.63 per cent to 149,433.26 points and the market capitalisation rose by 1.64 per cent to N95.264 trillion.

In the same vein, all other indices finished higher apart from the banking, AFR Div. Yield, MERI Growth, MERI Value, energy, sovereign bond, and commodity indices, which depreciated by 0.12 per cent, 0.75 per cent, 1.07 per cent, 0.27 per cent, 0.13 per cent, 2.02 per cent, and 0.49 per cent, respectively.

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Nigeria’s Tax Sovereignty Not Affected by Deal With France—FIRS

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By Adedapo Adesanya

The Federal Inland Revenue Service (FIRS) has issued a statement providing further clarifications following comments and reports on the recent memorandum of understanding between Nigeria and France on taxation.

The MoU, signed on December 10, 2025, at the French Embassy in Abuja by the chairman of FIRS, Mr Zacch Adedeji and French Ambassador, Mr Marc Fonbaustier, on behalf of France’s Direction Générale des Finances Publiques (DGFiP), focuses on key areas, including digital transformation, workforce development, information exchange, transfer pricing, and tackling base erosion and profit shifting.

However, the MoU has been met with resistance from opposition coalition party African Democratic Congress (ADC) as well as Northern elders, which both raised serious questions about transparency, national sovereignty and the safety of Nigerian consumers’ data.

In response, the tax authority, which will become known as Nigerian Revenue Service (NRS) from next year, emphasised that the deal does not grant France access to Nigerian taxpayer data, digital systems, or any element of the country’s operational infrastructure.

“All existing Nigerian laws on data protection, cybersecurity, and sovereignty remain fully applicable and strictly enforced. The NRS, like its predecessor, FIRS, places the highest premium on national security and maintains rigorous standards for the protection of all taxpayer information.”

It said similar MoUs are signed by tax administrations around the world to promote collaboration, knowledge sharing, and the adoption of global best practices.

“The DGFIP is among the world’s most advanced tax authorities, with over a century of institutional experience and deep expertise in digital transformation, taxpayer services, governance, and public finance.

“This partnership simply enables Nigeria to learn from that experience. It is advisory, non-intrusive, and entirely under Nigeria’s control.

“Contrary to misconceptions, the MoU does not displace local technology providers, FIRS and the emerging Nigeria Revenue Service (NRS) continue to work closely with Nigerian innovators such as NIBSS, Interswitch, Paystack, and Flutterwave. The MoU does not include the provision of technical services; it is limited to knowledge sharing, institutional strengthening, workforce development, policy support, and best-practice guidance.

“We welcome robust public engagement on tax reforms, but such conversations must reflect the actual content and purpose of the agreement. Rather than undermining Nigeria’s sovereignty, this MoU strengthens it by helping to build a modern, capable, globally competitive tax administration one firmly in command of its systems, data, and strategic direction.

“FIRS remains committed to transparency, professionalism and partnership that advance Nigeria’s long-term economic development,” it said in a statement.

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Economy

Nigeria Okays 28 Firms for Gas-flaring Monetisation Project

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Gas flaring

By Adedapo Adesanya

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued permits to 28 companies under Nigerian Gas Flare Commercialisation Programme (NGFCP), a scheme that aims to end routine gas flaring to cut carbon emissions and use some of the gas to generate power.

Gas flaring is the controlled burning of natural gas that is released during oil extraction. The initiative marks a major step toward ending flaring and monetising wasted gas.

The projects could capture 250 to 300 million standard cubic feet per day (mmscfd) of gas currently flared, cut about 6 million tonnes of CO₂ annually, and unlock nearly 3 gigawatts of power generation potential, an NGFCP document showed.

Nigeria expects the initiative to attract up to $2 billion in investment and create more than 100,000 jobs. It could also produce 170,000 metric tonnes of LPG annually, providing clean cooking access for 1.4 million households.

The permits follow a competitive bid round that awarded 49 flare sites to 42 bidders after the programme was restructured post-COVID-19 and the Petroleum Industry Act.

Speaking on this, Mr Gbenga Komolafe, head of the NUPRC, during the presentation of the certificates to the 28 companies said, “The NGFCP is a pillar in our quest to eliminate routine flaring, reduce emissions, and enhance Nigeria’s global credibility in energy transition commitments.”

The programme aligns with Nigeria’s Energy Transition Plan and aims to turn flare gas from an environmental liability into an economic asset.

The 28 companies have signed key agreements, including Connection, Milestone Development and Gas Sales Agreements, and now qualify for permits to access flare gas.

Producers will benefit from reduced liabilities, improved Environmental, Social, and Governance (ESG) performance and alignment with the government’s decarbonisation agenda.

Development partners, including Power Africa, KPMG, World Bank’s Global Gas Flaring Reduction initiative, USAID and financiers, have supported the programme with technical and commercial frameworks.

Mr Komolafe said while the permits mark a milestone, engineering, construction and financing must begin in earnest.

“The real work starts now,” the official added. “This programme will create economic, industrial and environmental value while strengthening Nigeria’s energy transition.”

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