World
Africa Consoles Russia, Hopes for Increased Economic Cooperation
By Kestér Kenn Klomegâh
Russia is never as isolated as many external countries think. It has non-Western friends, especially in Africa, which constitutes part of the Global South. And there is a growing political sentiment and understanding among the majority of its African allies that the United States, members of the European Union, and Ukraine are allegedly behind the terrorist attacks against Russia due to its special military operation in Ukraine.
There have been so many interpretations and analyses around the world. Russia’s Foreign Ministry called the incident a terrorist attack. The Islamic State—Khorasan Province (IS-KP or ISIS-K), a South-Central Asia-based regional affiliate of the Islamic State, claimed responsibility. But Russian Foreign Ministry spokeswoman, Maria Zakharova, said at a weekly media briefing with reporters that it was “extremely hard to believe” that Islamic State would have had the capacity to launch an attack on a Moscow concert hall on March 22 that killed at least 140 people.
Popularly referred to as Crocus City Hall, it is a music venue located in Krasnogorsk, Moscow Oblast (north-west of central Moscow, close to the Moscow Ring Road). The venue was opened by the businessman Aras Agalarov on October 25, 2009. On March 22, 2024, it was severely damaged by an explosion during a major terrorist attack that killed more than 140 people. Since March 22, African leaders have poured in messages of condolences to the Russian leadership and the entire Russian people.
The concert hall is a part of Crocus City, comprising the Crocus City Mall, Crocus Expo, and Vegas City Hall, along with various hotels and restaurants. It is one of the largest in the area. It is part of a larger block of shopping centres, restaurants, and other attractions called Crocus City.
On March 28, the President of South Africa, Cyril Ramaphosa, expressed his deep condolences and feelings of solidarity over the terrorist attack in Moscow. Beside that, however, both leaders also expressed satisfaction with the current level of strategic partnership between their countries and further discussed issues of practical trade, economics, energy, and humanitarian cooperation.
Speaking in the context of the BRICS Chairmanship, which Russia has taken over since January 2024 from South Africa, they discussed interaction within the group in its new expanded format. Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates joined BRICS as new full members, which is a strong indication of the growing authority of the association and its role in international affairs.
In light of the peace initiative advanced by African states to resolve the Ukraine crisis, Ramaphosa briefed Vladimir Putin on South Africa’s intention to continue working in this area with due regard for Russia’s legitimate interests. Putin, in turn, outlined Russia’s position of principle on developments around Ukraine, noting that Russia had always been open to a serious and substantive discussion of a political and diplomatic settlement of the conflict.
The President of the Arab Republic of Egypt, Abdel Fattah el-Sisi, congratulated Vladimir Putin on his re-election as President of the Russian Federation, noting his great personal contribution to strengthening friendly relations between Russia and Egypt. In January 2024, Egypt became a full-fledged member of the BRICS, always described as an informal association of emerging economies.
It was noted with satisfaction that the multifaceted cooperation between the countries is successfully developing as a strategic partnership, with major mutually beneficial projects underway in various spheres. Current issues on the international agenda were considered, including the situation around Ukraine and in the Palestinian-Israeli conflict zone. Vladimir Putin praised Cairo’s efforts to alleviate the humanitarian crisis in the Gaza Strip.
On March 26, the President of the National Council for the Safeguard of the Homeland of the Republic of Niger, Abdourahamane Tchiani, extended his warm solidarity with the Russian people and heartfelt condolences over the numerous victims of the heinous terrorist attack at Crocus City Hall.
In discussing the bilateral agenda, the leaders expressed their determination to step up political dialogue and develop mutually beneficial cooperation in various spheres. They also exchanged views on the developments in the Sahel-Sahara region, with an emphasis on the coordination of security and counterterrorism efforts.
Late March, President Putin has also held phone conversations with President of the Republic of the Congo Denis Sassou-Nguesso and with Interim President of the Republic of Mali Assimi Goïta at their initiative. Both African leaders resolutely condemned the terrorist attack at the Crocus City Hall concert venue and offered their deep condolences to the people of Russia.
On his part, Putin reassured that he would strengthen Russia-Mali ties in various fields, including the implementation of joint projects in the energy, agriculture, and mining sectors. Assimi Goïta expressed special gratitude for the deliveries of Russian wheat, fertiliser, and fuel, free of charge. Putin and Goïta also exchanged opinions in the context of the uneasy situation in the Sahara-Sahel region and agreed to step up practical interaction to counter terrorism.
With Congolese Denis Sassou-Nguesso, who expressed his deep condolences and solidarity with the Russian Federation in connection with the barbaric terrorist attack, Putin reassured him of the implementation of agreements reached following their meeting at St. Petersburg’s Russia-Africa Summit in July 2023.
According to the official transcript, Malian Assimi Goïta and Congolese Sassou-Nguesso did not congratulate President Vladimir Putin for the successful re-election in mid-March, but the Kremlin said the leaders by phone agreed to continue their contacts.
According to historical records, March 2024 marks the 60th anniversary of the establishment of diplomatic relations between Russia and the Republic of the Congo. In this context, the presidents reaffirmed their mutual commitment to the further development of active bilateral interaction in political, trade, economic, cultural, humanitarian, and other areas.
Congo, with an estimated 5.3 million population and the fourth largest oil producer in the Gulf of Guinea, is located in the central-western part of sub-Saharan Africa, along the Equator. Mali, now under military rule, is soliciting Russia’s military assistance to ensure peace and security in the Saharan-Sahel region. Mali, home to nearly 20 million people, is a landlocked country located on the rivers Senegal and Niger in West Africa.
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.
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.
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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