World
It’s Not Surprising Many Countries Express Interest in Africa—Stuglev
By Kester Kenn Klomegah
As the epidemiological situation begins to stabilize through mass vaccination and building herd immunity, the 24th St. Petersburg International Economic Forum is finally set to take place on 2–5 June 2021.
This unique Russian forum is expected to bring together politicians, corporate business directors and investors from different parts of the world.
The organizing committee will do everything in its power to ensure that the event is held with all the necessary measures in place to prevent the spread of coronavirus.
In this interview, taken by Kester Kenn Klomegah especially for potential African participants, Chief Executive Officer (CEO) of the Roscongress Foundation and Head of the Coordinating Council under the Secretariat of the Russia–Africa Partnership Forum (RAPF) Alexander Stuglev describes it as a unique platform for networking and getting acquainted with top Russian executives of leading companies and business associations. It thus helps in laying a firm foundation for further economic cooperation. Here are the interview excerpts:
Russian Minister of Foreign Affairs Sergey Lavrov noted that African issues are supposed to be included in the programme of the upcoming St. Petersburg International Economic Forum. Can you kindly give us a roadmap of specific programmes and their significance for African participants coming to St. Petersburg this June?
First of all, I would like to note that the St. Petersburg International Economic Forum, in its time, has become a sort of a gauge of the mounting interest in the development of Russian-African business cooperation: in the period of time from 2015 to 2019 the number of Forum participants from African countries grew five times.
Every year since 2016, as part of the St. Petersburg International Economic Forum’s business programme, we host a Russia-Africa roundtable, which has become a traditional meeting place for Russian and African business and government and in whose discussions the heads of African states, among others, took part many times.
This year, the African agenda will also play an important part in the Forum business programme. In the course of the scheduled Russia–Africa business dialogue, we plan to discuss a wide range of our cooperation: food security; the Russian approach to solving healthcare problems in African countries, taking into account the economic aftermath of the pandemic; Russian investment and participation of our business in key infrastructure projects on the African continent. I invite our African colleagues to take the most active part in the upcoming Forum discussions.
On the other hand, the African landscape is changing with more foreign players. In assessing the reality of developments and competition for geopolitical influence, what are your views? With this focus on Africa at the St. Petersburg Forum, do you consider it as a gateway to reach the market of the African region?
You are right, many countries are expressing interest in Africa today, but this is no surprise when you take into account the huge potential and opportunities of the African continent. I believe that major players will keep growing more active on the African scene and we should be ready for it.
All in all, I have a positive attitude toward competition. I believe that in any line of business it helps growth and stimulates progress, the important thing is that it should be fair competition.
As for your question regarding the gateway to the African market, I believe that the key point here is regularity and a systematic approach. St. Petersburg International Economic Forum is, undoubtedly, one of the most important stages in the development chain of the entire range of mutually beneficial Russia-Africa cooperation. Yet, it is important to realise that you cannot land in a foreign market immediately. There is a lot of work to be done beforehand in order to set mutually respectful and trustful relations, to learn the culture and so on.
The Forum in St. Petersburg is just the venue where people from all over the world traditionally have an opportunity to exchange opinions on the most burning issues, present their initiatives, and establish contacts, thus laying a firm foundation for further cooperation.
Do you also think there is lots of potential in terms of raising trade and economic cooperation between the region and Russia? What will be Roscongress’ key focus, products and services for potential African participants?
Undoubtedly, there is a potential for trade and economic cooperation; both the Russian and African representatives always talk about it. It is important, however, not just to talk about it but to carry it through as well. In recent years, we have seen increased Russian activity where Africa is concerned and we will do everything we can to keep that tendency going.
I believe that constant dialogue is the basis for any successful interaction and the key objective of the Roscongress Foundation is to make that dialogue as intensive and productive as possible. We are ready to share our skills and experience with our African friends by organizing and holding Russian-African events together.
To unlock the economic and trade potential, it is important to involve small and medium-sized businesses in cooperation; that is why we are ready to consider the options for organizing small topic-specific events both in African countries and in Russian regions. Our key objective is to create opportunities and conditions, to be the link between the Russian and African businesses.
As Chief Executive Officer of the Roscongress Foundation, Head of the Coordination Council for Russia–Africa Partnership Forum, what are some of the preparations for the next Russia–Africa Economic Forum at the 2022 Summit to be held inside Africa?
We are already working hard on it. The Russia–Africa Summit and Economic Forum in 2019 demonstrated the mutual interest of Russia and African countries in working together; a roadmap for further cooperation has been set; participants have had an opportunity to talk and learn more about each other. Despite the adjustments made to our plans by the pandemic, the work did not stop; we continue to work on ideas and initiatives that can be carried out as early as the next Summit and Economic Forum in 2022.
As I have already mentioned, you cannot organize just one large forum and expect radical changes in trade and economic cooperation. You need to put in comprehensive efforts not only at the economic but also at diplomatic and humanitarian levels; you need to involve the regions, as well as small and medium-sized businesses in cooperation. This comprehensive interaction is actually underway and the Secretariat of the Russia–Africa Partnership Forum plays a central part in it.
The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of international conventions and exhibitions; and business, public, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.
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
