World
Europe and Africa Forging A New Relationship
By Kestér Kenn Klomegâh
Late January 2024, prominent African leaders and corporate business executives attended the summit intended to forge a new relationship between Europe and Africa. It was hosted by Italy’s hard-right Prime Minister Giorgia Meloni who who came to power in 2022. The significance of the summit was to reshape and place on track the European policy priorities and, at the same time, to highlight economic diplomacy and fix the long-trailed systematic development plans for Africa.
Within the context of the geopolitical changes, African political leaders have shown high enthusiasm and pragmatism, in developing relations with external countries. As trends in their approach with a new sense of diligent optimism show, African leaders fundamentally support the current global reconfiguration. Far beyond analytical talks of the scramble for resources by external powers, Africa is noticeably glued to the United States and Europe, while capitalizing on laudable offers from other players such as China, Russia, India, Turkey and those from the Arab world.
Given the current situation in the world, Africa has to step forward to harvest, with appropriate mechanisms and transparent procedures, concrete development-finance agreements, infrastructure engagements, trade and economic cooperation and above all humanitarian assistance for the most disadvantaged segments of the population that these external players offer at these summits. African leaders have to tone down all ideological manifestations and capitalize on existing challenges, contradictions and complexities of these geopolitical players including the United States, Europe Asia and Latin America to address instability, and socio-economic deficits and effectively coordinate strategic policies toward achieving sustainable development in this multipolar world.
At least during the past two decades, Africa’s invitations to international summits and conferences have been primarily due to, perhaps, a complex relationship with China. China started when Russia exited, and China has landmark achievements across the continent. Russia is struggling to regain or retrieve part of its Soviet-era influence. Now, the United States and Europe aim to counter the fast-rising influence of China and Russia.
Despite the lengthy process of persuasion and consensus building on previous partnerships, Europe still faces challenges. Late January 2024, Italy became the European country of convergence, with Italy as a key bridge between Africa and Europe. Approximately two dozen African leaders, the African Union, top European Union and United Nations officials and representatives from international lending institutions were in Rome for the summit, the first major event of Italy’s Group of Seven presidency.
Meloni’s so-called “Mattei Plan” is named after Enrico Mattei, the founder of Eni – Italy’s state-owned energy giant. In the 1950s, he advocated a cooperative stance towards African countries, helping them to develop their natural resources. “The basis of the Mattei Plan is a new approach – non-predatory, non-paternalistic but also not charitable,” Meloni told state-run RAI station. “It’s an approach of equals, to grow together.”
Political Diplomacy
Italy being part of the European Union has played on historical heart-settings with Africa. Over the past years, it has forged multi-dimensional cooperation as part of the foreign policy, and similarly the members of the European Union. Now these European Union members are pushing hard to showcase the future trajectory in their individual and collective relations with Africa. Europe promises to develop large-scale investment in various sectors, especially in the energy sectors in the continent, and straining efforts at curbing migration of Africans to Europe.
A former Prime Minister of the Republic of Chad and now the African Union Commission Chairperson, Moussa Faki Mahamat, jolted his Italian hosts with sharply worded comments at the opening of the summit dubbed “A Bridge for Common Growth” held in Rome. Rome holds the presidency of the G7 group of nations this year and has vowed to make African development a central theme, in part to increase influence in a continent where powers such as China, Russia, India, Japan and Turkey have been expanding their political clout.
“We are not beggars, our ambition is much higher, we want a paradigm shift for a new model of partnership that can pave the way towards a fairer and more coherent world. You can well understand that we can no longer be satisfied with mere promises that are often not kept,” he told the gathering.
With the rapidly changing times, Europe has to wake up to the immense potential of Africa. European Union and individual members have made financial pledges but seriously lack practical evidence of undertaking projects. And African leaders at the summit were frank, unreservedly endorsed criticisms of making distinction between rhetoric and reality as suggested in remarks by the AU Chairperson Moussa Faki.
Reports pointed to Mahamat who categorically emphasized the necessity for Africa to be consulted on priorities and stressed the urgency of moving from promises to concrete actions. He underscored the frustration with unfulfilled commitments, calling for a more results-oriented approach.
The plan, which includes more than €5.5 billion ($6 billion) in investments, credits, gift operations, and guarantees – including building a training centre on renewable energy in Morocco, education projects in Tunisia, and other projects in Algeria, Mozambique, Egypt, the Republic of Congo, Ethiopia and Kenya – was not well received by the African leaders in attendance, who said that they had not been consulted in the formation of the plan.
Italy’s first African-born parliamentarian Aboubakar Soumahoro, who is deputy and coordinator of the parliamentary intergroup for Sub-Saharan Africa, also criticized the plan.
Cristiano Maugeri of Action Aid Italia lamented that the government had excluded any consultation with civil society groups active in African development to formulate the plan, and said that it regardless represented something of a repackaging of existing projects. “We are talking about initiatives that have already been presented in other contexts, only with a new stamp on them,” he said.
The UN Deputy Secretary-General Amina Mohammed praised Italy for focusing on the key pillars of energy and food systems, saying they complement an approach already mapped out by the African Union. But she lamented that overall, the 2030 targets of the globally-approved U.N. Sustainable Development Goals are “falling woefully short” and further urged the government of Italy to make such deep, effective, and equal partnerships a reality, and to use its presidency of the G7 to work with other countries to do likewise.
Given the fact that Italy currently holds the rotating chair of the Group of Seven (G7) major Western powers, the narrative around Africa has to change, to promote African interests during the G7 presidency. Europe has to take advantage of the largest renewable energy resources the vast arable land for agriculture, and the possibility of industrial production for the latest – the African Continental Market (AfCFTA).
African-Italian Negotiations
Italian Prime Minister Giorgia Meloni unveiled a long-awaited initiative aimed at helping African countries prosper in return for curbing illegal immigration, pumping a preliminary 5.5 billion euros ($5.96 billion) into the scheme. The schemes include efforts to develop African agribusiness and mobilize Italian transport and major works companies.
During a post-summit news conference, Meloni acknowledged the importance of translating promises into tangible projects on the ground. With more than 25 countries in attendance, European Commission President Ursula von der Leyen and representatives of UN agencies and the World Bank, Meloni explained the plan would initially be funded to the tune of €5.5 billion, some of which would be loans, with investments focused on energy, agriculture, water, health and education.
The prime minister, however, emphasized the need for collaboration with the private sector and international bodies, such as the European Union, to ensure the initiative’s success.
Energy needs stand at the core of Italy’s initiative, with the country aiming to serve as a gateway for African natural gas into European markets. The ambitious plan gains significance in the context of the European Union’s efforts to diversify energy supplies following Russia’s invasion of Ukraine, the former Soviet republic. Meloni outlined a series of pilot projects in individual countries that would enable Africa to become a major exporter of energy to Europe, helping it reduce its dependence on Russian energy.
European Global Gateway
In the previous years, the European Union has sought to build strongly on its existing economic and trade relationship with Africa. It held the last summit in February 2022, with African leaders and the African Union. It has been attempting to bring Africa and Europe closer together for strategic, long-term footing to develop a shared vision for EU-Africa relations in a globalized world.
In an official document, it said it would (i) Support AfCFTA implementation and the green transition; (ii) Improve trade and investment climate between the EU and Africa; (iii) Reinforce high-level public private dialogue; (iv) Enhance long-term dialogue structures between EU and Africa Business Associations; (v) Unlock new business and investment opportunities, including in the areas of manufacturing and agro-processing as well as regional and continental value chains development.
Referred to as the Joint EU-Africa Strategy, the document takes into cognizance the most common interests such as climate change, global security and the achievement of the United Nations Sustainable Development Goals (SDGs).
The potential to increase trade, economic growth, job creation and integration across the continent remains enormous, because today, only around 17% of African trade flows take place between African countries. “Of course, there will be challenges along the way, and the EU stands ready to help. We want to share the lessons from our process of economic integration, and with our new Global Gateway Strategy, we have demonstrated that we are ready to support massive infrastructural investment in Africa,” Valdis Dombrovskis, Executive Vice-President and Commissioner for Trade as well as chairing the Commissioners’ group on an Economy that Works for People, noted when the EU-African Union Summit was held in February 2022.
Dombrovskis said: “We continue to support the implementation of the African Continental Free Trade Area. Achieving this will represent a historic milestone. the EU has a diverse range of trade agreements with countries in Africa. These are dynamic partnerships, in which we advance step-by-step for our mutual benefit. We aim to widen and deepen these economic and partnership agreements with those African countries that are willing to do so.”
The EU-Africa summit focuses on the search for more effective ways to scale-up sustainable development in Africa, according to various reports. Due to the shifting of geopolitics, the continent now increasingly turning into an intersection of global power players and it faces a precarious complex future. But what is important here is that the European players have to incorporate most aspects of partnership directions (adopt more effective ways to scale up sustainable development in Africa) within the framework of the 2030 Agenda of the United Nations and Agenda 2063 of the African Union.
World
Russian-Nigerian Economic Diplomacy: Ajeokuta Symbolises Russia’s Remarkable Achievement in Nigeria
By Kestér Kenn Klomegâh
Over the past two decades, Russia’s economic influence in Africa—and specifically in Nigeria—has been limited, largely due to a lack of structured financial support from Russian policy banks and state-backed investment mechanisms. While Russian companies have demonstrated readiness to invest and compete with global players, they consistently cite insufficient government financial guarantees as a key constraint.
Unlike China, India, Japan, and the United States—which have provided billions in concessionary loans and credit lines to support African infrastructure, agriculture, manufacturing, and SMEs—Russia has struggled to translate diplomatic goodwill into substantial economic projects. For example, Nigeria’s trade with Russia accounts for barely 1% of total trade volume, while China and the U.S. dominate at over 15% and 10% respectively in the last decade. This disparity highlights the challenges Russia faces in converting agreements into actionable investment.
Lessons from Nigeria’s Past
The limited impact of Russian economic diplomacy echoes Nigeria’s own history of unfulfilled agreements during former President Olusegun Obasanjo’s administration. Over the past 20 years, ambitious energy, transport, and industrial initiatives signed with foreign partners—including Russia—often stalled or produced minimal results. In many cases, projects were approved in principle, but funding shortfalls, bureaucratic hurdles, and weak follow-through left them unimplemented. Nothing monumental emerged from these agreements, underscoring the importance of financial backing and sustained commitment.
China as a Model
Policy experts point to China’s systematic approach to African investments as a blueprint for Russia. Chinese state policy banks underwrite projects, de-risk investments, and provide finance often secured by African sovereign guarantees. This approach has enabled Chinese companies to execute large-scale infrastructure efficiently, expanding their presence across sectors while simultaneously investing in human capital.
Egyptian Professor Mohamed Chtatou at the International University of Rabat and Mohammed V University in Rabat, Morocco, argues: “Russia could replicate such mechanisms to ensure companies operate with financial backing and risk mitigation, rather than relying solely on bilateral agreements or political connections.”
Russia’s Current Footprint in Africa
Russia’s economic engagement in Africa is heavily tied to natural resources and military equipment. In Zimbabwe, platinum rights and diamond projects were exchanged for fuel or fighter jets. Nearly half of Russian arms exports to Africa are concentrated in countries like Nigeria, Zimbabwe, and Mozambique. Large-scale initiatives, such as the planned $10 billion nuclear plant in Zambia, have stalled due to a lack of Russian financial commitment, despite completed feasibility studies. Similar delays have affected nuclear projects in South Africa, Rwanda, and Egypt.
Federation Council Chairperson Valentina Matviyenko and Senator Igor Morozov have emphasized parliamentary diplomacy and the creation of new financial instruments, such as investment funds under the Russian Export Center, to provide structured support for businesses and enhance trade cooperation. These measures are designed to address historical gaps in financing and ensure that agreements lead to tangible outcomes.
Opportunities and Challenges
Analysts highlight a fundamental challenge: Russia’s limited incentives in Africa. While China invests to secure resources and export markets, Russia lacks comparable commercial drivers. Russian companies possess technological and industrial capabilities, but without sufficient financial support, large-scale projects remain aspirational rather than executable.
The historic Russia-Africa Summits in Sochi and in St. Petersburg explicitly indicate a renewed push to deepen engagement, particularly in the economic sectors. President Vladimir Putin has set a goal to raise Russia-Africa trade from $20 billion to $40 billion over the next few years. However, compared to Asian, European, and American investors, Russia still lags significantly. UNCTAD data shows that the top investors in Africa are the Netherlands, France, the UK, the United States, and China—countries that combine capital support with strategic deployment.
In Nigeria, agreements with Russian firms over energy and industrial projects have yielded little measurable progress. Over 20 years, major deals signed during Obasanjo’s administration and renewed under subsequent governments often stalled at the financing stage. The lesson is clear: political agreements alone are insufficient without structured investment and follow-through.
Strategic Recommendations
For Russia to expand its economic influence in Africa, analysts recommend:
- Structured financial support: Establishing state-backed credit lines, policy bank guarantees, and investment funds to reduce project risks.
- Incentive realignment: Identifying sectors where Russian expertise aligns with African needs, including energy, industrial technology, and infrastructure.
- Sustained implementation: Turning signed agreements into tangible projects with clear timelines and milestones, avoiding the pitfalls of unfulfilled past agreements.
With proper financial backing, Russia can leverage its technological capabilities to diversify beyond arms sales and resource-linked deals, enhancing trade, industrial, and technological cooperation across Africa.
Conclusion
Russia’s Africa strategy remains a work in progress. Nigeria’s experience with decades of agreements that failed to materialize underscores the importance of structured financial commitments and persistent follow-through. Without these, Russia risks remaining a peripheral player (virtual investor) while Arab States such as UAE, China, the United States, and other global powers consolidate their presence.
The potential is evident: Africa is a fast-growing market with vast natural resources, infrastructure needs, and a young, ambitious population. Russia’s challenge—and opportunity—is to match diplomatic efforts with financial strategy, turning political ties into lasting economic influence.
World
Afreximbank Warns African Governments On Deep Split in Global Commodities
By Adedapo Adesanya
Africa Export-Import Bank (Afreximbank) has urged African governments to lean into structural tailwinds, warning that the global commodity landscape has entered a new phase of deepening split.
In its November 2025 commodity bulletin, the bank noted that markets are no longer moving in unison; instead, some are powered by structural demand while others are weakening under oversupply, shifting consumption patterns and weather-related dynamics.
As a result of this bifurcation, the Cairo-based lender tasked policymakers on the continent to manage supply-chain vulnerabilities and diversify beyond the commodity-export model.
The report highlights that commodities linked to energy transition, infrastructure development and geopolitical realignments are gaining momentum.
For instance, natural gas has risen sharply from 2024 levels, supported by colder-season heating needs, export disruptions around the Red Sea and tightening global supply. Lithium continues to surge on strong demand from electric-vehicle and battery-storage sectors, with growth projections of up to 45 per cent in 2026. Aluminium is approaching multi-year highs amid strong construction and automotive activity and smelter-level power constraints, while soybeans are benefiting from sustained Chinese purchases and adverse weather concerns in South America.
Even crude oil, which accounts for Nigeria’s highest foreign exchange earnings, though still lower year-on-year, is stabilising around $60 per barrel as geopolitical supply risks, including drone attacks on Russian facilities, offset muted global demand.
In contrast, several commodities that recently experienced strong rallies are now softening.
The bank noted that cocoa prices are retreating from record highs as West African crop prospects improve and inventories recover. Palm oil markets face oversupply in Southeast Asia and subdued demand from India and China, pushing stocks to multi-year highs. Sugar is weakening under expectations of a nearly two-million-tonne global surplus for the 2025/26 season, while platinum and silver are seeing headwinds from weaker industrial demand, investor profit-taking and hawkish monetary signals.
For Africa, the bank stresses that the implications are clear. Countries aligned with energy-transition metals and infrastructure-linked commodities stand to benefit from more resilient long-term demand.
It urged those heavily exposed to softening agricultural markets to accelerate a shift into processing, value addition and product diversification.
The bulletin also called for stronger market-intelligence systems, improved intra-African trade connectivity, and investment in logistics and regulatory capacity, noting that Africa’s competitiveness will depend on how quickly governments adapt to the new two-speed global environment.
World
Aduna, Comviva to Accelerate Network APIs Monetization
By Modupe Gbadeyanka
A strategic partnership designed to accelerate worldwide enterprise adoption and monetisation of Network APIs has been entered into between Comviva and the global aggregator of standardised network APIs, Aduna.
The adoption would be done through Comviva’s flagship SaaS-based platform for programmable communications and network intelligence, NGAGE.ai.
The partnership combines Comviva’s NGAGE.ai platform and enterprise onboarding expertise with Aduna’s global operator consortium.
This unified approach provides enterprises with secure, scalable access to network intelligence while enabling telcos to monetise network capabilities efficiently.
The collaboration is further strengthened by Comviva’s proven leadership in the global digital payments and digital lending ecosystem— sectors that will be among the biggest adopters of Network APIs.
The NGAGE.ai platform is already active across 40+ countries, integrated with 100+ operators, and processing over 250 billion transactions annually for more than 7,000 enterprise customers. With its extensive global deployment, NGAGE.ai is positioned as one of the most scalable and trusted platforms for API-led network intelligence adoption.
“As enterprises accelerate their shift toward real-time, intelligence-driven operations, Network APIs will become foundational to digital transformation. With NGAGE.ai and Aduna’s global ecosystem, we are creating a unified and scalable pathway for enterprises to adopt programmable communications at speed and at scale.
“This partnership strengthens our commitment to helping telcos monetise network intelligence while enabling enterprises to build differentiated, secure, and future-ready digital experiences,” the chief executive of Comviva, Mr Rajesh Chandiramani, stated.
Also, the chief executive of Aduna, Mr Anthony Bartolo, noted that, “The next wave of enterprise innovation will be powered by seamless access to network intelligence.
“By integrating Comviva’s NGAGE.ai platform with Aduna’s global federation of operators, we are enabling enterprises to innovate consistently across markets with standardised, high-performance Network APIs.
“This collaboration enhances the value chain for operators and gives enterprises the confidence and agility needed to launch new services, reduce fraud, and deliver more trustworthy customer experiences worldwide.”
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