World
Ekaterina Dyachenko Assesses Russia-Africa Trade
By Kester Kenn Klomegah
For decades, Russia has been looking for effective ways to promote multifaceted ties and new strategies for cooperation in economic areas in Africa. Now, Kremlin will hold the first Russia-Africa Summit in Sochi on October 23-24 with high hopes of enhancing multifaceted ties, trying to reshape the existing relationship and significantly roll out ways to increase effectiveness of cooperation between Russia and Africa.
Experts have strongly suggested that it is also necessary to review the rules and regulations especially on trade as a step towards changing the situation about Russia’s presence in Africa and Africa’s presence in Russia. It is necessary for both Russia and Africa to make consistent efforts to look for new ways, practical efforts at removing existing obstacles that have impeded trade over the years.
Looking ahead with greater hope and grandiose plans, Ekaterina Dyachenko, the Founder and Chief Executive Officer (CEO) of the B2B Export Group of Companies with about 15 year-experience in African issues, has launched a new digital platform purposely to connect investors with trade, business and investment opportunities in Russia and Africa.
B2B-Export.com is an online trading platform, media resource and professional community that enables customers from all over the world to source goods and technologies from Russia. The platform offers adequate information and ways of business transactions and documentation.
Founded in 2015, the company has since facilitated over 80 export B2B transactions. In 2019, for instance, Dyachenko launched the reverse platform to help find new customers and enter the market in Russia. Its key markets are Africa, Latin America, Middle East and Asia. It is now present in many African locations, working on opening additional regional offices in Mexico City, Bogota and Jakarta.
Here are important excerpts of the exclusive interview conducted recently by Kester Kenn Klomegah for IDN-InDepthNews:
B2B Export Group has been working between Russia and Africa, what are your products and services? What African regions or individual countries are keen on Russian products and business services?
Katya Dyachenko (KD): The B2B Export platform is a marketplace for interaction and a game changer for accelerated economic cooperation between Russia and Africa. B2B-Export is an online trading platform that facilitates trade globally, considering that the internet does not recognize borders. We are currently working in Africa, Russia, Latin America and China.
We sell equipment and technologies from Russia. We are currently looking for suppliers from all over the world to sign up on the platform to trade, including suppliers from Africa.
We are looking for 3 types of goods from Africa: Food Products, home décor and lastly fashion, shoes and bijouterie. We will help suppliers sell their goods and even export for them.
Lastly, we also help in the sourcing of STEM talent, that is, Science Technology, Engineering and Mathematics expertise, from Russia. This is in light of the fact that Russia has the largest number of engineering and science graduates per year.
Compared to other foreign players, how competitive is the African market?
The African market is very competitive, as the world is interested in trading with Africa. Some have even termed it as the new “scramble for Africa”. This is evidenced by the opening of [. . .] missions in Africa from 2010 to 2016.
Additionally, Africa is the only continent that escaped the global decline in foreign direct investment (FDI) as flows to the continent rose to US$46 billion in 2018, an increase of 11% on the previous year, according to UNCTAD.
From the 15 years’ experience in both regions, what key problems and challenges do you face, both ways?
The first major challenge is the lack of information. Many Russian companies are not fully aware of Africa’s potential. This also applies to African companies that are not adequately informed on the potential for development and trade by Russian companies.
This forms a huge impediment to the growth of trade between Africa and Russia. As a result of the lack of knowledge, it has led to a lot of prejudice among potential players and are hesitant to trade with each other.
In my opinion, the only way to fight this, is by providing information to enable both African and Russian companies to make informed decisions. The Sochi summit is one such example, as a part of its objectives is to promote knowledge sharing.
What can B2B Export Group do to facilitate a two-way business cooperation, most especially, when African business people are also looking to do business on the Russian market?
The B2B-Export Group seeks to do this by providing communication to African companies about the opportunities in the Russian and international market, in order to widen their horizon.
To support the trade between Russia and emerging markets, we host business forums in an effort to boost relations and investment between countries. We have organized Russian businesses to visit Kenya, Tanzania, Zimbabwe, Ghana, Nigeria, Rwanda, Egypt, Colombia, Mexico, Indonesia, Malaysia and China and we host delegates from other countries in Russia every year.
Next to that, we also do this by providing the necessary tools for trade, thus in a better position to understand the trading process and allow us to better work with our customers.
What kind of perceptions, popular sentiments and approach could be considered as impediments or stumbling blocks to business between Russia and Africa?
The first major impediment is the lack of trust among companies in both regions. This lack of trust is a result of the inadequacy of knowledge concerning the working arrangements of each other.
Secondly, many companies are hesitant to send money abroad to a company that they have not met, due to the numerous cases of fraud that have been reported. In order to gain trust, traders generally prefer to have face-to-face meetings to discuss their business deals which are not practical due to the high costs associated with an offline trip.
Lastly, a business person would approximately incur the following costs: The fees for the attendance and exhibition of products at a trade fair in Russia costs US$5000. A plane ticket to Russia costs US$1000. Hotel and transport per day will cost US$150. Translating services on site will cost US$110/hour. Warehouse rental US$15,000 per year. Working online on B2B-Export, one gets all the above services and more for only US$190 per year.
Business needs vital information, knowledge about the investment climate and so forth. Do you think that there has been an information vacuum or gap between the two countries?
As I have mentioned, there is a huge gap in the information available concerning both regions. However, it is important to add that for investments the threshold for the trust required is greater than for trade. Companies seeking investment need to provide adequate information to potential investors to convince them that risk can be managed and the returns justify the risk.
As a start for Russian investors looking to invest in Africa, it is easier to begin with setting up localization and assembly facilities. Moreover, they can provide manufacturing licenses to their local partners in the respective African countries.
Russia’s economic power, its global status and as a staunch member of BRICS bloc, how would you assess its current level of investment and business engagement with Africa?
As a BRICS member, Russia is engaging with other BRICS members such as South Africa where a lot of effort has been made to increase trade volume. Russia is a member of BRICS and Afrexim Bank (African Export–Import Bank) to ensure that Russian companies have access to Afrexim investment products. These products are a result of bilateral agreements between BRICS and Afrexim.
I believe that more effort needs to be made to promote investment between Africa and Russia. From my experience, I have noticed that many African companies are presenting proposals for export to the United States and the United Kingdom. Unfortunately, they are not keen on exporting to Russia.
The Russian government is keen in the promotion of such trade; they have organized the first, government run Russia-Africa forum in 30 years, in Sochi. It is important to note that we as the B2B Export Group have organized such forums in the last 4 years.
These forums have revealed the lack of enthusiasm among our African counterparts such as the African promotion boards for the respective countries. They have not been keen and effective in in promoting Russia-Africa trade. They need to be more active in seeking trade and investment opportunities that will benefit the companies in their country and will result in the growth of their economy.
I contend that the tourism sector should be among the first to be promoted. This is premised on the following reasons. Firstly, many Russian cities such as Moscow and St. Petersburg are in the same time zone as countries in Eastern Africa. This factor is very attractive as tourists will not have a difficult time adjusting to the time.
Moreover, when tourism is promoted it will have a domino effect on the investment of that particular country. This is because, it will help to demystify the myths and opinions that some Russians may have about Africa, thus encouraging them to look to invest and trade with the continent. It will also broaden their understanding of the continent and her people.
And the final question, African leaders are looking for investment in infrastructure, industry and trade. What can African leaders expect from the Kremlin when they finally gather in Sochi?
African leaders should expect further encouragement in technological support and assistance that Russia is happy to provide and has historically been providing.
Furthermore, we expect greater infrastructural support such as in the development of Africa’s railway system. Russia is happy to provide geological exploitation support, as it has been doing in Guniea-Bissau.
Russia has also been keen in the development of South Africa’s gas infrastructure due to the expertise it has in this field.
Russia is also interested in assistance for security Improvement in African states, which is vital. Better security guarantees more stability of the countries’ economy therefore attracting investment.
Moreover, seeing as Russia is a knowledge-based economy, as a nation we are happy to exchange skill in the areas of medicine, veterinary services and engineering among others. It is thus an expectation that the Kremlin will seek to promote education of African students in Russian universities. Currently, Russia hosts 17,000 African students, majority of them private students, each year and the number is growing.
Additionally, it is important to note that Russia does not encourage foreign students to domicile in Russia, it advocates for their return to their respective countries to develop and use the skill set acquired to develop their economies.
In conclusion, I would like to state that it is important for Russians to, equally, seek to educate themselves on African affairs in order to boost trade, business and investment.
Kester Kenn Klomegah writes frequently about Russia, Africa and BRICS
By Adedapo Adesanya
Nigeria regained its position as Africa’s leading destination for equity startup investment in the first half of 2026, raising $214 million in equity financing and a total of $254 million across equity and debt, according to the latest Africa: The Big Deal report.
The report, titled H1 2026: Mapping the Money, showed that Nigeria ranked second on the continent in total funding, behind Egypt, which attracted $327 million, while Kenya and South Africa followed with $126 million and $83 million, respectively.
However, the report noted that Egypt’s top position was largely driven by a single fundraising by electric mobility company Spiro, which secured $327 million, including $270 million in equity and $57 million in debt. Excluding debt financing, Nigeria emerged as Africa’s largest equity funding market in the first six months of the year.
According to the breakdown by Africa: The Big Deal, Nigeria’s equity funding of $214 million was higher than Egypt’s $183 million, while South Africa and Kenya attracted $66 million and $46 million, respectively.
Beyond funding value, Nigeria also led the continent in the number of startups that raised at least $100,000 during the review period, reclaiming the top spot after what the report described as an “underwhelming” second half of 2025.
The publication observed that Nigeria’s fundraising performance has remained relatively stable over the past few years and exceeded the $250 million mark for the first time since 2022, pointing to renewed investor confidence in the country’s startup ecosystem.
It also found that while the Big Four startup markets—Nigeria, Egypt, Kenya and South Africa—continued to dominate Africa’s investment landscape, their combined share of total funding stood at 58 per cent in the first half of 2026.
“Zooming back on the Big Four (110 out of 190 $100k+ deals, i.e. 58%), Nigeria is head and shoulders above its peers, with Egypt and Kenya almost tying, and South Africa in fourth position again,” the report noted.
The report highlighted contrasting performances among the continent’s largest startup ecosystems. While Nigeria and Egypt maintained strong funding momentum, Kenya recorded its weakest funding performance since early 2021 after a strong second half of 2025, and South Africa failed to attract $100 million in funding during the period despite leading the continent a year earlier.
Africa: The Big Deal also noted a broader shift in investor behaviour, with funding increasingly concentrated in larger transactions while early-stage investments continued to decline. According to the publication, the drop in smaller funding rounds reflects growing concerns about limited capital available for early-stage startups across Africa.
By Aduragbemi Omiyale
Accessing the US Dollar in the East Africa region has now been made easier with the expansion of the stablecoin settlement infrastructure of SCRYPT.
This development enables banks, payment providers and corporate treasury teams to move value into and out of the continent in real time.
Businesses paying international suppliers frequently have to convert local currency into USD before purchasing stablecoins for settlement, incurring FX conversions and spreads before any payment is made.
But SCRYPT is eliminating this intermediate conversion by enabling direct settlement corridors for local African currencies into stablecoins.
This development allows businesses to move from local currency to stablecoin settlement in a single licensed transaction, without first sourcing rationed bank dollars, as stablecoins are increasingly becoming settlement infrastructure rather than an investment product.
The expansion adds settlement support across four African currencies: the Kenyan shilling (KES), Tanzanian shilling (TZS), Rwandan franc (RWF) and Ugandan shilling (UGX). Each corridor is delivered through the same full-stack infrastructure our clients already use for trading, custody and treasury operations.
Speaking on this, the chief executive of SCRYPT, Norman Wooding, said, “Across Africa, stablecoin adoption is driven by economic need, not speculation.
“Businesses here are not chasing yield; they are trying to pay suppliers and manage treasury without losing margin to a banking system that rations dollars. Licensed, fair-rate dollar access is the clearest proof of what this infrastructure is for.”
Also commenting, the Managing Director of Markets & Trading at SCRYPT, Mr Gabriel Titopoulos, said, “Until now, reaching stablecoins from local African currencies meant buying scarce dollars and incurring several layers of conversion costs.
“SCRYPT removes this friction. Firms and payment providers can now settle straight from local currencies through live corridors, with local partners.”
World
African Graduates Association Promoting Multifaceted Initiatives With Russian Educational Institutions
By Kestér Kenn Klomegâh
In preparations for the third Russia-Africa Summit, scheduled for late October 2026, Dr Francois Ngan, deputy chairman of the Union of Associations of African Graduates of Soviet and Russian Universities, during an official working visit, has held a consultative meeting with Professor Vladimir Filippov, the President of the Russian University of Peoples’ Friendship (RUDN), and former Minister of Higher Education of Russia, Chairman of the National Commission for Accreditation of Higher Education.
RUDN is an educational institution established in 1960, primarily to provide higher education to Third World students. It has now become a popular multidisciplinary spot for many students, especially from developing countries. The university offers various academic programmes and has research infrastructure that comprises laboratories and interdisciplinary centres. The university is named after the former Congolese leader, Patrice Lumumba.
Dr Francois Ngan and Professor Filippov discussed the importance of the Graduates Association as a continental platform dedicated to strengthening unity, cooperation, and promoting shared progress among African graduates who studied in the former Soviet Union and in the Russian Federation. They also reviewed multifaceted initiatives that could bring together alumni associations from across Africa, whose members obtained education and professional training, and cultural experiences in Soviet and Russian institutions of higher learning.
Professor Filippov expressed optimism in addressing emerging challenges as a result of shifting geopolitical changes, emphasised strategic cooperation in the educational sphere with Africa, in general, and with the Republic of Cameroon, in particular, and further about the integration of African students during their studies in the Russian Federation.
The meeting also touched on academic and scientific work, the possibility of rewriting a scientific thesis, and the official organisation of transferring versions translated into six languages for the library of RUDN. Significant questions relating to Russia’s educational opportunities, collaborations and partnerships involving African countries were thoroughly discussed.
The Union of Associations of African Graduates of Soviet and Russian Universities was created under one continental umbrella to promote friendship, for professional networking, to engage in cultural exchange, and with particular emphasis on forging strategic cooperation between Africa and Russia.
