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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

No Discrepancies in Harmonised, Gazetted Tax Laws—Oyedele

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Taiwo Oyedele

By Adedapo Adesanya

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has said there are no discrepancies in the tax laws passed by the National Assembly and the gazetted versions made available to the public.

Last week, a member of the House of Representatives, Mr Abdussamad Dasuki, raised worries about the differences between its version and that gazetted by the presidency.

However, speaking on Channels Television’s Morning Brief on Monday, Mr Oyedele claimed what has been circulating in the media was fake.

“Before you can say there is a difference between what was gazetted and what was passed, we have what has not been gazetted. We don’t have what was passed,” he said.

“The official harmonised bills certified by the clerk, which the National Assembly sent to the President, we don’t have a copy to compare. Only the lawmakers can say authoritatively what we sent.

“It should be the House of Representatives or Senate version. It should be the harmonised version certified by the clerk. Even me, I cannot say that I have it. I only have what was presented to Mr President to sign.”

Mr Oyedele stated that he reached out to the House of Representatives Committee regarding a particular Section 41 (8), which states, “You have to pay a deposit of 20 per cent.”

He noted that the response given by the committee was that its members had not met on the issue.

“I know that particular provision is not in the final gazette, but it was in the draft gazette. Some people decided that they should write the report of the committee before the committee had met, and it had circulated everywhere.

“What is out there in the media did not come from the committee set up by the House of Representatives. I think we should allow them do the investigation,” Mr Oyedele added.

In June, President Bola Tinubu signed the four tax reform bills into law, marking what the government has described as the most significant overhaul of the country’s tax system in decades.

The tax reform laws, which faced stiff opposition from federal lawmakers from the northern part of the country before their passage, are scheduled to take effect on January 1, 2026.

The laws include the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act, all operating under a single authority, the Nigeria Revenue Service.

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Economy

Aluminium Extrusion Surges 59.35% to Lead NGX Weekly Gainers’ Chart

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Aluminium Extrusion

By Dipo Olowookere

A total of 55 equities appreciated last week on the Nigerian Exchange (NGX) Limited versus the 49 equities recorded a week earlier.

However, 33 stocks closed lower compared with 41 stocks in the previous week, while 55 shares remained unchanged versus 57 shares of the preceding week.

Leading the advancers’ log was Aluminium Extrusion, which gained 59.35 per cent to close at N12.35, Mecure Industries rose by 44.93 per cent to N55.00, First Holdco appreciated by 42.93 per cent to N44.95, Guinness Nigeria improved by 33.01 per cent to N289.70, and NPF Microfinance Bank grew by 20.65 per cent to N3.74.

On the flip side, Living Trust Mortgage Bank lost 11.38 per cent to settle at N3.35, Japaul declined by 10.53 per cent to N2.38, International Energy Insurance slipped by 9.92 per cent to N2.27, FTN Cocoa depreciated by 9.80 per cent to N4.42, and Stanbic IBTC went down by 9.33 per cent to N95.20.

The buying interest in the week raised the All-Share Index (ASI) and the market capitalisation by 1.76 per cent to 152,057.38 points and N96.937 trillion, respectively.

Similarly, all other indices finished higher with the exception of AFR Bank Value, and the energy indices, which fell by 1.38 per cent and 0.17 per cent apiece.

According to trading data, a total 9.849 billion shares worth N305.843 billion in 126,584 deals exchanged hands in the five-day trading week compared with the 4.373 billion shares valued at N97.783 billion traded in 110,736 deals a week earlier.

The financial services industry led the activity chart with 8.295 billion shares valued at N232.223 billion traded in 50,351 deals, contributing 84.22 per cent and 75.93 per cent to the total trading volume and value, respectively.

The healthcare space followed with 517.443 million shares worth N3.472 billion in 2,979 deals, and the consumer goods counter transacted 392.765 million shares worth N12.664 billion in 18,438 deals.

The trio of Ecobank, First Holdco, and Access Holdings accounted for 6.424 billion shares worth N204.629 billion in 11,362 deals, contributing 65.23 per cent and 66.91 per cent to the total trading volume and value, respectively.

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Economy

NEPC to Disburse $50m Digital Women Empowerment Fund Q1 2026

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Women Exporters in the Digital Economy

By Adedapo Adesanya

The Nigerian Export Promotion Council (NEPC) has assured beneficiaries of the $50 million Women Exporters in the Digital Economy (WEIDE) Fund to expect the first tranche of grants in the first quarter of 2026, following the completion of ongoing capacity-building and compliance processes.

The assurance was given during a Town Hall Meeting for WEIDE Fund beneficiaries held in Abuja over the weekend. The gathering provided an opportunity to review progress made since the launch of the initiative in August 2025.

The $50 million WEIDE Fund is a global initiative by the WTO and ITC to empower women-led businesses in developing countries, especially Nigeria, by providing training, finance, and market access for digital trade, helping them grow from small enterprises to global players through support like grants and mentorship, as seen in its launch phase benefiting 146 Nigerian women entrepreneurs.

Speaking at the event, the chief executive of NEPC, Mrs Nonye Ayeni, called on beneficiaries to maximize the opportunities provided by the programme, emphasizing the progress made and the milestones achieved since its launch.

Mrs Ayeni said the engagement was meant to review the programme’s achievements, identify areas for improvement, and strengthen support for the beneficiaries.

“So, it’s time for us to get together at the end of the year to see how far we’ve gone, how well we’ve done, and what we need to do to make it better and support them more effectively through the WEIDE Fund,” she said.

Mrs Ayeni highlighted the significant capacity-building activities conducted for the 146 selected women entrepreneurs, noting that top-tier coaches and trainers had been deployed immediately after the official launch by the Director General of the World Trade Organisation (WTO), Mrs Ngozi Okonjo-Iweala.

“These coaches are exceptional. They’ve trained our beneficiaries in financial literacy, bookkeeping, soft skills, leadership, succession planning, and digital tools so they can compete globally,” she said.

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