World
African Union’s Voice for Restoration of Black Sea Grain Deal Stripes on Russian Rocks
By Kestér Kenn Klomegâh
African delegates to the second Russia-Africa summit held in St. Petersburg July 27-28 expressed sadness over Russia’s fierce resistance to renewing its membership of the Black Sea grain deal that allowed Ukraine to export grain through its Black Sea ports to the world.
The African Union, the continental organization, has passionately called for an “urgent” restoration of the Black Sea grain deal with Russian President Vladimir Putin. “The problem of grains and fertilizers concerns everyone,” Comoros President Azali Assoumani, who currently heads the African Union, said at a summit with Russia in St. Petersburg.
African countries are asking that the delivery of Russian and Ukrainian grain to the continent be made easier, President of the African Union and President of the Comoros Azali Assoumani and African Union Commission Chairman Moussa Faki Mahamat said.
“The Ukrainian crisis is having a major impact, so resolving this crisis will save the lives of a large number of people who depend on these food supplies. Our continent is currently being severely impacted by food prices. Therefore, we urge all stakeholders to facilitate the delivery of both Ukrainian and Russian grain to our countries,” Assoumani pointed out.
This conflict affected the entire world in a negative way, African Union Commission Chairman Moussa Faki Mahamat said. “Of course, we are concerned over the grain supply issue,” he said, adding that it is “necessary to immediately and promptly resolve the problem of food shipments to countries in need.”
South African President Cyril Ramaphosa and Senegalese counterpart, Macky Sall, raised this question when the group presented the peace plan past June in St. Petersburg. A number of other African delegates during the summit raised this question.
Earlier, Egyptian President Abdel Fattah el-Sisi also added his voice, urging the Kremlin to revive the deal that allowed Ukraine to export grain from its seaports. Sisi said during the summit that an agreement was “essential.”
Back in New York, United Nations Secretary-General Antonio Guterres has also held a meeting with Russian Deputy Foreign Minister Sergei Vershinin to discuss the grain deal, UN spokesperson Stephane Dujarric said at a briefing on Friday.
“Secretary General met with Russian Deputy Foreign Minister Vershinin in Rome on Tuesday morning and, first of all, he has called Russia to rejoin the Black Sea Initiative and also reiterated his commitment to doing whatever he can to facilitate the trade in Russian and Ukrainian food and fertilizer,” Dujarric said.
Guterres said he would continue to maintain contact with all parties involved regarding the possibility of restoring the Black Sea grain initiative. He said he is committed to agreements that could be in the interests of Kyiv and Moscow.
“We will go on with all our contacts, with all parties – Turkey, Ukraine, Russia and other countries that are relevant from the point of view of the global markets in order to reestablish the Black Sea Initiative,” Guterres said at a press conference at the UN’s headquarters.
Russia pulled out of the deal on July 17 and warned that it would attack all ships going to and from Ukrainian ports. Russian missiles also destroyed more than 60,000 tons of Ukrainian grain in Odesa.
Russia has been bombarding Ukrainian agriculture infrastructure daily since the end of the deal. Ukraine is a major agricultural producer whose exports are a noteworthy pillar of food security in many countries around the world. Exporting grain overland through Europe created controversy with farmers in those countries, whose markets became flooded with cheap grain.
The termination of the deal would affect a number of countries in the Middle East, North Africa and Southeast Asia. Due to the limited transport capacity and infrastructure in Central and Eastern Europe, a significant part of the land export of grain from Ukraine may get stuck in transit countries, which have local producers of this agricultural product.
The Black Sea agreement has helped keep benchmark prices of the foodstuff under control by boosting supply to world markets. On July 17, Russia officially announced its withdrawal from the grain agreement after an attack at the Crimean Bridge. In addition, Moscow withdrew guarantees of navigation safety in the Black Sea. The UN-brokered Black Sea grain deal expired on July 18.
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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