World
Outcome of Russia-Congo Strategic Talks
By Kestér Kenn Klomegâh
Congolese President Denis Sassou Nguesso tightly embraced and shook hands with President Vladimir Putin, signalling the highest level of cordial friendship, and later settled down for official talks focusing on strengthening the multifaceted Russian-Congolese comprehensive strategic economic partnership, including in the context of the upcoming high-level third Russia-Africa Summit scheduled for October 2026.
In St George’s Hall of the Grand Kremlin Palace, Putin told his Congolese counterpart, Denis Nguesso, and the delegation that there were “good prospects for developing relations in a variety of areas” and reminded them that the full-fledged relations between Russia and the Congo have been making strides. Russian companies are ready and eager to work in the country’s market, primarily because the political situation has been stable, which is good for business. The Intergovernmental commissions are operational.
Denis Nguesso’s official visit, from April 28 to 29, has immense significance for the Kremlin. Moscow is stepping up to tackle important corporate investments ranging from an industrial and technological standpoints, which open pathways for knowledge transfer, human capital development, and Congo’s integration into defence innovation value chains. At the geo-strategic level, Moscow is seemingly positioning itself as a regional security hub and as an incredible partner, particularly in Congo, while strengthening a broader strategic influence in the central African region.
On the agenda, Russia will begin design work this year for the construction of an oil product pipeline in Congo, under an agreement signed in 2024. The Pointe-Noire – Loutete – Moluko-Tresho oil product pipeline that Russia plans to build in the African country under an intergovernmental agreement is supposed to go into operation by the end of 2029.
It was reported earlier that Russia is hoping to create a channel for shipping oil products that is protected from sanctions by building this pipeline in the Congo, as well as becoming a strategic partner in ensuring the energy security of the whole region. The agreement on the project, which was signed in Moscow on September 28, 2024, provides for the creation of favourable conditions to carry out the pipeline’s construction.
Under the agreement, the authorised organisations responsible for the implementation of the project are Zakneftegazstroy-Prometei LLC and the National Petroleum Company of Congo (SNPC), which is the client of the project. They will form a joint venture to carry out the project in which the Russian side will own a 90% stake and the Congolese side will hold 10%.
A build-own-operate-transfer concession agreement will be signed with the joint venture to build and operate the pipeline for 25 years, with a guaranteed price for transport that will ensure the utilisation of the pipeline and a return on investment in the project. The Russian Ambassador to Congo, Georgy Chepik, said earlier that the pipeline will run between the country’s two largest cities, Pointe-Noire and the capital Brazzaville.
In particular, the two sides discussed the prospects of implementing joint projects and forging mutual cooperation prospects in a wide range of areas, including geological prospecting, energy, logistics, agriculture, trade, and manufacturing. The sides also “noted readiness to gradually increase their transport cooperation. The Republic of Congo is seen as a key logistics hub in Central Africa and a crucial participant in a promising international transport route between Russia and the African continent,” the statement said.
Nearly 80% of the population still lives in abject poverty, even though the country boasts huge resources. Congo is the fourth-largest oil producer in the Gulf of Guinea, providing the country with a high degree of potential prosperity, despite its internal ethnic conflicts and economic disparity. It has a large untapped mineral wealth and large untapped metal, gold, iron, and phosphate deposits. In 2018, the Republic of the Congo joined the Organisation of Petroleum Exporting Countries (OPEC).
Historical records show that Denis Nguesso, several times as a civil servant during the Soviet era, and as president, visited Russia, including participation in the two Russia-Africa Summits held in Sochi and St. Petersburg, and consequently was gifted with a collage of photographs and Pravda newspaper clips documenting these visits. President Putin has also awarded him with the Order of Honour, while Moscow State University of International Relations (MGIMO) gifted him with a Doctorate Degree. The document, published on the Kremlin website, for instance, says Nguesso has been honoured with the award “for his major contribution to boosting and strengthening relations between the Russian Federation and the Republic of the Congo.”
Congolese Denis Nguesso, who has shuttled frequently between his city and Moscow, underlined the fact that bilateral relations have been developing for many decades. These are ties of solidarity and cooperation that bind the two parties in all areas, including security, defence, and the economy. He emphasised the point that the time has arrived to act more concretely, to accelerate the implementation of the jointly elaborated programme. Both parties will have the opportunity to sign more bilateral agreements in Brazzaville in September 2026, before the new Russia-Africa summit, to be held in Moscow.
The third Summit is expected to solidly reaffirm the development of relations between African states and the Russian Federation. For decades, Russia has supported Africa’s ideals for freedom, independence and sovereignty. Next, Russia-Africa cooperation has a big future. Africa is rich in resources. And Russia contributes to efforts to ease the debt burden that African countries are facing. The total debt Russia has cancelled, previously and so far, stands at $23 billion, according to reports.
In addition, Russia and African states have coordinated efforts for building a new, fairer global architecture, and further working together to protect international law, the UN Charter and the central role of that global organisation, while at the same time, trying to coordinate their positions on the main issues on the international agenda. African regional structures have substantially enhanced these geopolitical profiles, and within the general objectives of the African Union.
By Kestér Kenn Klomegâh
Africa is set to make history as it hosts the World Public Summit for the first time, with Addis Ababa, Ethiopia, welcoming global leaders and changemakers from July 29–30, 2026, for the landmark gathering under the theme “New World: Africa in Shaping a Shared Future.”
The inaugural African edition of the World Public Summit marks a significant milestone in the continent’s growing role in shaping international dialogue on governance, sustainable development, human-centred leadership and global cooperation.
Hosted by the World Peoples Assembly in partnership with African and international organisations, the summit will convene government officials, diplomats, business leaders, academics, journalists, youth representatives, civil society organisations and cultural leaders from across Africa and around the world.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Summit is not just a meeting—it is a space for unity. A space where the ‘values that unite us’ come to life: respect for people, openness to the world, responsibility for the future, and a commitment to creation.
“Today, we understand more clearly than ever: the future cannot be built alone. It is born in dialogue, in trust, in the ability to listen to one another and to act together.”
The programme begins on July 29 with a series of high-level roundtables and expert discussions covering Pan-African economic integration, civil society, education, scientific cooperation, cultural diplomacy and humanitarian partnerships.
The opening plenary, “Values, Development and Partnership as the Basis of a Sustainable and Just World,” will explore how African values—including Ubuntu—can help shape a more inclusive and sustainable global future. Discussions will also focus on youth leadership, innovation, civil society, ethical AI, public initiatives and international partnerships.
The summit will also showcase Africa’s creativity and innovation through the “Innovations for the Future” exhibition, the contemporary African art exhibition “Unity,” and the international exhibition “The World Paints Happiness.”
Another featured initiative is “The Zambezi River: Economy, Society, Soul,” an international interdisciplinary project exploring the river’s socioeconomic importance across Angola, Botswana, Mozambique, Namibia, Zambia and Zimbabwe, highlighting the shared heritage and development potential of one of Africa’s most important waterways.
The event will conclude with the adoption of the African Communiqué, reflecting the summit’s shared vision for stronger international cooperation, sustainable development and people-centred leadership.
Tsegaye Chama, General Secretary of the Global Black Centre, promised that, “The Summit will be delivered with exceptional distinction, reflecting the magnitude and spirit of the World Peoples Assembly. It embodies a unity that is not transactional, but purposeful and conscious, a unity that shapes new contours for a world that works for all peoples of the World.”
As delegates prepare to arrive in Addis Ababa, anticipation continues to build for what promises to be one of Africa’s most significant international gatherings of 2026—one that will place the continent firmly at the centre of global conversations about the future.
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.”
