World
How is Russia Straddling to Make Economic Impact in Africa
By Kestér Kenn Klomegâh
While Russia’s interest in sub-Saharan Africa is nothing new, Russian authorities have realized that it’s time to move back primarily to reclaim its economic footprints and to find old Soviet-era allies, but that step comes with new challenges, especially from other foreign players and the changing internal political and economic conditions in Africa.
Long before it held its first symbolic summit in October 2019, many experts indicated in several policy reports that “Russia has often failed to capitalize on the historical connection between Moscow and those African elites who had been educated in the Soviet Union and Russia.”
For the past few years, Russian authorities are only demonstrating steady and strategic steps at the possibility of pushing huge investments in lucrative sectors, often rattling in hyperbolic statements on ways to strengthen bilateral relations and expand economic cooperation in a number of African countries.
That theatrical show of corporate investment and business interests has been sealed into various agreements, resulting from high-powered state delegations who frequently visited both regions. Records concretely indicated that 92 bilateral agreements were signed during the first summit; little has been achieved, and yet Russians are looking forward to new agreements in the forthcoming July gathering in St. Petersburg.
Keir Giles, an associate fellow of the Royal Institute of International Affairs (Chatham House) in London, explained to me in an email interview, precisely in April 2015, that “Russia’s approach to Africa is all about making up for a lost time. The Soviet Union’s intense involvement in African nations came to an abrupt halt in the early 1990s, and for a long time, Moscow simply didn’t have the diplomatic and economic resources to pay attention to Africa while Russia was consumed with internal problems.”
According to Giles, “that changed in the last decade, thanks to two things: the arrival of President Vladimir Putin with a new foreign policy focus, and the massive influx of cash on the back of increased oil prices, which transformed Russian state finances. Russia is interested both in economic opportunities and in rebuilding political relationships that had in some ways been on hold for over a decade.”
In order to raise Russia’s economic influence and profile in Africa, the Coordinating Committee on Economic Cooperation with Sub-Saharan Africa, popularly referred to as AfroCom, was created in June 2009 on the initiative of the Russian Federation Chamber of Commerce and Industry and Vnesheconombank to help promote and facilitate Russian business in Africa. Since its creation, it has had full-fledged support from the Russian Government, the Federation Council and State Duma, the Ministry of Foreign Affairs and the African diplomatic community.
At the Chamber of Commerce and Industry of the Russian Federation, Georgi Petrov, noted at AfroCom’s annual executive meeting held in April 2015 that “in view of the current geopolitical situation in the world and the economic situation in Russia, Russian businesses have to look for new markets. In this regard, of particular interest is the African continent, which today is one of the fastest-growing regions in the world with annual GDP growth of 5%. In addition, opportunities for projects in Africa are opened with the accession of South Africa to the BRICS bloc.” Petrov was referring to Brazil, Russia, India, China and South Africa as members of BRICS.
Reports also showed that Russia has started strengthening its economic cooperation by opening trade missions with the responsibility of providing sustainable business services and plans to facilitate import-export trade in a number of African countries. A simple calculation shows that already been more than a decade since the establishment of the Coordinating Committee on Economic Cooperation with Sub-Saharan Africa. There are also several Joint Commissions on Trade and Economic Cooperation, and of course, there are Trade and Economic councillors at nearly all of Russia’s diplomatic missions in Africa.
But these Russian trade centres must necessarily embark on a “Doing Business in Africa” campaign to encourage Russian businesses to take advantage of growing trade and investment opportunities to promote trade fairs and business-to-business matchmaking in key spheres in Africa.
Maxim Matusevich, an associate professor and director of the Russian and East European Studies Program at Seton Hall University, told me in an interview that “in the past decades, there was some revival of economic ties between Africa and Russia – mostly limited to the arms trade and oil/gas exploration and extraction. Russia’s presence in Africa and within African markets continues to be marginal, and I think that Russia has often failed to capitalize on the historical connection between Moscow and those African elites who had been educated in the Soviet Union.”
“It is possible that the ongoing crisis in the relations between Russia and the West will stimulate Russia’s leadership to look for new markets for new sources of agricultural produce. Many African nations possess abundant natural resources and have little interest in Russia’s gas and oil. As it was during the Soviet times, Russia could only offer a few manufactured goods that would successfully compete with Western-made products. African nations will probably continue to acquire Russian-made arms, but otherwise, I see only a few prospects for diversification of cooperation in the near future,” added Maxim Matusevich.
Foreign Minister Sergey Lavrov and the Special Presidential Representative for the Middle East and Africa, Mikhail Bogdanov, have several times paid working visits to Africa. On the other side, they have held several meetings these several years, with several high delegations from Africa. The parties have, these several years, discussed bilateral and regional issues and the improvement of diverse cooperation between Russia and Africa, including cooperation with sub-regional organizations of the continent, according to the several transcripts posted to the official website of the Foreign Ministry.
Without a doubt, Russia’s strategic return to Africa has sparked academic discussions at various levels where academic researchers openly admitted that political consultations are on track, arms export has significantly increased, but other export products are extremely low. In addition, Russia’s involvement in infrastructure development and industry has been invisible for the past decades on the continent.
In another interview, Themba Mhlongo, Head of Programmes at the Southern Africa Trust, thinks that Africa should not expect higher trade flows with Russia simply because Africa has not engaged Russia.
Mhlongo told me that “Russia has not been as aggressive as China in pursuing opportunities in Africa because Russia has natural resources and markets in Eastern Europe, South West Asia. Russian exports to Africa might be dominated by machinery and military equipment which serves their interest well.”
Notwithstanding the above weaknesses, he suggested that Africa must engage all BRICS members equally, including Brazil and Russia, in order to build alliances and open trade opportunities, including finance and investment opportunities. Also, African countries must not seem to show preferences in their foreign policy in favour of Western Europe if they want to benefit from trade relations with Russia. They must learn to be neutral; neutrality is a pragmatic strategy!
Mhlongo suspects that Africa still holds an old view about Russia being a communist state and less technologically developed or unsophisticated than Western Europe. But Russia never colonized Africa, so there are no colonial ties between the two – Africa and Russia.
“If you look at African trade flows to Europe, they reflect colonial ties most of the time. However, modern Russia is now an important emerging market country and a member of BRICS. But Russian society is closed, and its orientation is towards Western Europe, particularly the United States (probably due to the period of bipolar global power system that existed before). Russia exports to Africa but rarely sets up businesses. The language (or culture in general) could be one of the barriers to developing trade relations with Russia,” he underlined in his discussion.
He proposed that both Africa and Russia could initiate a dialogue to explore economic opportunities between them. However, there are other avenues to engage each other through the BRICS bloc or through bilateral diplomatic channels. Russia has embassies in Africa, and African countries have diplomatic representations in Russia. Africa may have to pay special attention to cultural issues, try to understand Russia in this ever-changing environment and find an entry point to engage Russia.
On her part, Alexandra Arkhangelskaya, a senior researcher at the Institute of African Studies under the Russian Academy of Sciences and a staff lecturer at the Moscow High School of Economics, told me in an interview that Russia and Africa needed each other – “Russia is a vast market not only for African minerals but for various other goods and products produced by African countries.”
The signs for Russian-African relations are impressive – declarations of intentions have been made, important bilateral agreements signed – now it remains to be seen how these intentions and agreements will be implemented in practice, she pointed out in her discussions.
The revival of Russia-Africa relations should be enhanced in all fields: political, economic, trade, scientific, technological, and cultural. Obstacles to the broadening of Russian-Africa relations should be addressed. These include, in particular, the lack of knowledge in Russia about the situation in Africa and vice versa, suggested Arkhangelskaya.
“As we witness rapid deterioration of relations between Russia and the West unfold, Russia’s decision to ban the import of some agricultural products from countries that have imposed sanctions against Moscow offers great opportunities for the expansion of trade of such products from Africa,” the professor observed in her discussion.
Experts who have researched Russia’s foreign policy in Africa at the Russian Academy of Sciences’ Institute for African Studies have reiterated that Russia’s exports to Africa can be possible only after the country’s industrial-based experiences a more qualitative change and introduces tariff preferences for trade with African partners. As a reputable institute during the Soviet era, it has played a considerable part in developing African studies in the Russian Federation.
“The situation in Russian-African foreign trade will change for the better if Russian industry undergoes technological modernization, the state provides Russian businessmen systematic and meaningful support, and small and medium businesses receive wider access to foreign economic cooperation with Africa,” according to Professor Aleksei Vasiliev, of the RAS Institute for African Studies and a full member of the Russian Academy of Sciences, and Evgeny Korendyasov, an expert at the RAS Institute for African Studies.
In one of his speeches posted to the official website, Russian Foreign Minister Sergey Lavrov noted frankly in remarks: “it is evident that the significant potential of our economic cooperation is far from being exhausted, and much remains to be done so that Russian and African partners know more about each other’s capacities and needs. Creating a mechanism for providing public support to business interaction between Russian companies and the African continent is still on the agenda.”
World
SCRYPT Expands Stablecoin Settlement Infrastructure to East 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.
World
Russia to Support Industrial Growth, Technological Advancement and Supply Chain Resilience across Africa
By Kestér Kenn Klomegâh
With the heightening of geopolitical rivalry and competition, a new Russia-Africa working group has emerged as a significant institutional mechanism and plans to focus on facilitating and monitoring strategic investments, industrialisation, and infrastructural development—the Strategic Action Plan 2023-2026—that was outlined during the second Russia-Africa summit, in St.Petersburg, the second largest city in the Russian Federation.
While substantial progress has, largely, lagged on the multidimensional economic front with Africa primarily due to its internal difficulties and the complexity of relations with its former Soviet neighbours, Russian officials believe there still remains huge untapped potential in strengthening bilateral cooperation. As planned, President Vladimir Putin has already signed an executive order that directs Moscow to host the forthcoming third Russia-Africa summit in October 2026.
On June 30, a regular meeting of the Business Council on Africa was held under the chairmanship of the head of the Russian Foreign Ministry. It was dedicated to issues of trade, economic and investment cooperation with Africa. The group discussed the current state and prospects for the implementation of policy initiatives with an emphasis on assisting the countries of the continent, strengthening their economic, energy, technological and food sovereignty, as well as training specialists for Africa.
Foreign Minister Sergey Lavrov has reiterated that Russia-Africa relations primarily depend on an understanding of the importance of collective action based on the principles of equality, mutual respect and resolving common tasks. In the past few years, Russia-Africa cooperation has been noticeably strengthening. “We are deepening political dialogues, developing bilateral contacts with African countries, promoting cordial cooperation between ministries and departments, and expanding humanitarian exchanges. We are also continuing the structural diversification of trade partnerships and economic dimensions.”
“Next on the agenda is the launch of diplomatic missions in The Gambia, Liberia, Togo, and the Union of the Comoros,” Lavrov said at a meeting of the Business Council under the Russian foreign minister. Lavrov noted that Russian embassies began operating in three other African countries in 2025: Niger, Sierra Leone, and South Sudan. A new Department for Partnership with Africa was also established. According to the top diplomat, “expanding Russia’s diplomatic presence on the continent contributes to developing relations.”
There are already 45 Russian embassies operating in Africa. The Russian foreign minister noted that Moscow is quickly rebuilding its presence in African countries, which sharply declined during the collapse of the Soviet Union. “There will be literally four or five countries left where we still need to establish full-fledged embassies, and then, we will have 100 per cent coverage of the entire African continent with our diplomatic presence,” Lavrov emphasised.
After the first summit in October 2019, the Foreign Ministry also created the Secretariat of the Russia-Africa Partnership Forum. Its main tasks include controlling the roadmap to Africa’s multidimensional cooperation and guiding potential Russian investors to the continent. This also underscored the priority and post-Soviet solidarity Russia currently attaches to its policy towards Africa, within the growing framework of the emerging new architecture of multipolarity in the Global South.
In an interview in June 2026, the director of the Department of Partnership with Africa at the Foreign Ministry, Tatyana Dovgalenko, shared a few insights in the lead-up to the third summit. Furthermore, Dovgalenko explained that Russia would move away from security to concentrate more on economic issues, especially to team up with African colleagues to streamline mechanisms for implementing projects that will ensure food security and agriculture, and help Africa in installing processing facilities to support its self-sufficiency. She also emphasised energy and vital infrastructures, and the third direction was to simultaneously work more coherently with sub-regional organisations.
Over the past few years, bilateral relations have been increasing. There are positive dynamics in trade turnover, estimated at $30 billion. Steps are being taken to build payment systems, preferably in national currencies, while Russia looks to open four more diplomatic offices, bringing the total to 48 across Africa. Russia is currently training 37,000 African students, but only approximately 1/3 on state scholarships in Russia’s educational institutions. “We are ready to share valuable experiences of building a sovereign development model with African partners to achieve self-reliant economic growth based on their own resources and capabilities. Russia aims at creating processing capabilities and localising production, and provides access to advanced technological solutions,” underlined Dovgalenko in her interview with New Eastern Outlook.
For African countries that have endured difficult decades on the path to political independence, it is now important to take full control over the untapped resources, direct income and revenue toward stimulating the national economic sector, rather than paying for the well-being of the Western “golden billion” during this changing geopolitical era, according to Dovgalenko.
According to reports, the forthcoming Russia-Africa summit will have an economic agenda, including the digital economy, technology, artificial intelligence, healthcare, investment, and settlements in global trade. Of course, the agenda will also cover Africa’s political aspects. But if African friends bring along any specific ideas, Russia will give them serious attention. In addition, with continuity and consistency, pay increased attention to expanding ties with Africa’s regional integration associations.
Going forward, the focus will be on translating strong trade relations into deeper investment partnerships, fostering technology collaboration, strengthening industrial linkages and contributing towards the shared objectives set by the leadership of both African countries and Russia. At the third summit, the above-mentioned specific initiatives will be further designed. In this regard, the key document, the new action plan for the next three-year period (2027-2029), is intended to reflect dynamic realities in the future relations of Russia and Africa


