World
Ozerov Sees Huge Economic Benefits in Russia-Africa Relations
By Kester Kenn Klomegah
Russia is consistently working on strengthening multifaceted relations with Africa despite the numerous challenges.
After the first Russia-Africa summit held in Sochi, authorities have been moving to build on this new page in the history of Russia’s relations, based on shared values and interests, with African countries.
Within the framework of the joint declaration adopted in Sochi, the Ministry of Foreign Affairs of the Russian Federation created a Secretariat of the Russia-Africa Partnership Forum.
On May 18, the Deputy Director of the Department of Africa at the Russian Foreign Ministry, Mr Oleg Borisovich Ozerov, was appointed Ambassador-at-Large and Head of the Secretariat of the Russia-Africa Partnership Forum.
He is a diplomat with extensive experience at the Foreign Ministry, including with Arab and African countries. In 2010-2017, he was Ambassador to Saudi Arabia and in 2011-2017, Permanent Representative of the Russian Federation to the Organisation of Islamic Cooperation.
In this interview with Kester Kenn Klomegah, Mr Ozerov, Ambassador-at-Large and Head of the Secretariat of the Russia-Africa Partnership Forum, talks about the primary tasks of the Secretariat, current efforts at supporting Russian companies to work in Africa and the way forward with Russia-African relations.
Here are the interview excerpts:
Why it has become important, in the first place, to create the Secretariat of the Russia-Africa Partnership Forum within the Ministry of Foreign Affairs of the Russian Federation?
In October 2019, Sochi hosted the first-ever Russia-Africa Summit, ushering in a new era in the history of Russian-African cooperation. The outcomes of this event are evident in its final declaration. The first few points in the document outline decisions made by the event’s participants concerning the establishment of a Russia-Africa Partnership Forum as the Summit’s supreme body. It also stipulates that annual political consultations will be held between the Foreign Ministers of the Russian Federation and the African States acting as the present, former and future presidents of the African Union.
There needs to be coordinated action between Russian government bodies and economic actors. This is to ensure that the decisions reached at the previous Summit can be implemented, preparations for the next high-level Russian-African meeting made, and diplomatic support provided for communicating with the African Union and government bodies in Africa which oversee foreign policy.
This need for coordinated action has led to the establishment of the Russia-Africa Partnership Forum Secretariat within the Ministry of Foreign Affairs of the Russian Federation. Incidentally, one of its key objectives will be to organise and conduct the aforementioned political consultations. The first round of these consultations was held in July of this year.
The Secretariat has already held a few meetings. Could you please talk about some of the decisions that have been taken with regards to strengthening cooperation with Africa?
I would like to make a small correction. On September 9 this year, Moscow hosted the official presentation of the Russia-Africa Partnership Forum Secretariat and the Association of Economic Cooperation with the African States.
The senior management of the Secretariat’s working bodies were presented at this event. These included the heads of the coordinating council, research council, public council, and the working media group. These people are, respectively, Chairman of the Board and CEO of the Roscongress Foundation Alexander Stuglev, Director of the Institute for African Studies of the Russian Academy of Sciences Irina Abramova, Head of Rossotrudnichestvo Yevgeny Primakov, and Director General of TASS Sergey Mikhailov.
The first meeting of the coordinating council is planned for October this year. The research and public councils should meet accordingly shortly afterwards. Draft resolutions concerning the work of the Secretariat will be discussed at the aforementioned meetings, and the media will be informed of the outcomes in due course.
Is it possible to discuss the roles of the three councils (business, research and public) that were created during the meeting of 9 September?
The decision to set up the councils was taken much earlier, as the concept for the Russia-Africa Partnership Forum Secretariat was being drawn up, which was established, as we know, in June this year. The Secretariat does not have a business council. Issues regarding coordination between federal government bodies and the business sector come under the remit of the coordinating council.
The Association of Economic Cooperation with the African States also performs the role of a business council and operates in close collaboration with the Secretariat.
All three councils are staffed by highly qualified professionals. They include people specializing in international relations, economics and finance, science, business, society and the media, who provide expert support for the Secretariat’s operations.
In your objective view, is there a lot of potential in terms of increasing trade and economic cooperation between the African continent and Russia?
Speaking to the press at the end of the inaugural Russia-Africa Summit, President of the Russian Federation Vladimir Putin noted that in 2018, Russia’s trade with African states exceeded $20 billion. As pointed out by the Head of State, “It is absolutely feasible to reach higher, and bring the value of trade to, at least, $40 billion over the next few years.”
The official figures to come out of the Sochi Summit pay testament to the enormous potential of economic relations between Russia and Africa. Of particular note is the fact that delegations from 54 African nations took part in the event. Of these, 45 were led by Heads of State and Government. The Summit was also attended by the heads of eight regional organizations in Africa, 109 foreign ministers, and two vice presidents.
The Russia-Africa Economic Forum, which took place alongside the Summit, was attended by more than 6,000 participants from 104 countries and territories. These included more than 1,100 foreign business leaders, 1,400 Russian business leaders, and 2,200 members of official delegations from Russia and abroad. Ninety-two agreements, contracts, and memoranda of understanding were signed worth a total of more than RUB 1 trillion.
I would say that when organising and holding the next high-level Russian-African meeting, one of the main objectives will be to further reinforce the powerful momentum built up in Sochi in 2019 in terms of economic collaboration between Russia and African countries. We are now enjoying comprehensive and enduring collaboration which is founded on long-term programmes.
Doing business is not easy in Africa, but what kind of approach do you envisage adopting when it comes to dealing with such issues?
We see our mission as uniting economic operators from Russia and Africa and facilitating the sharing of information between them. We also aim to ensure there is political and diplomatic support for Russian businesses in African countries. The Secretariat will work in close collaboration with the aforementioned Association of Economic Cooperation with the African States.
We enjoy robust ties and have established communications with relevant Russian ministries and government bodies responsible for foreign trade, the Chamber of Commerce and Industry of the Russian Federation, the Russian Union of Industrialists and Entrepreneurs, the Coordinating Committee on Economic Cooperation with Sub-Saharan Africa (AfroCom) and many other organisations.
The task before us is to coordinate the actions of all stakeholders with the aim of effectively promoting Russia’s economic interests in Africa and to foster mutually beneficial cooperation with African nations.
Apart from a corporate business at the state level, Foreign Minister Sergey Lavrov has spoken about developing medium-sized enterprises. Is this part of your plan?
Small and medium-sized enterprises have already been using the AfroCom platform to work together with African countries for a long time. Incidentally, this organisation is planning to soon join the Association of Economic Cooperation with the African States.
Our embassies’ consular departments and trade missions – where they exist – are also providing assistance to small and medium-sized Russian businesses. They are helping them to find partners in African countries and to establish business ties.
In accordance with the decisions made at the inaugural Russia-Africa Summit, we will also help build partnerships for small and medium-sized businesses, and help them to be more active and effective. The plans and strategies, which will be employed to achieve this, will be discussed at the first meeting of the coordinating council this October, as well as at other events.
Looking at current developments and other active foreign players on the African continent, what do you see as the key challenges there?
In terms of intensifying economic collaboration between Russia and African countries, we need to anticipate the technical aspects of having Russian businesspeople, firms, and companies do business on the African continent.
In particular, this means looking at transport accessibility (by air and sea), processes and forms related to mutual settlements, making payments, investment, providing loans, hedging risk, providing legal services and insurance, etc. Work on these aspects must be done immediately, in parallel with work on organising the next Summit.
That said, however, the current coronavirus pandemic is causing considerable difficulties, at the moment. It is affecting international travel and is hindering economic activity across the board, including in African countries.
In terms of competing with other countries on the continent, we are counting on building relations between Russian firms and companies in such a way as to create a sense of camaraderie and solidarity when it comes to withstanding foreign competitors on the African market. This will be another area of focus for the Association of Economic Cooperation with the African States as it works in close collaboration with the Secretariat.
Why do you think Russia’s soft power is not what it was during the days of the Soviet Union?
I cannot say I fully agree with that statement. There are numerous examples of how Russia has achieved notable success through soft power. I would like to particularly draw attention to the fantastic work being done by the Russian news channel, Russia Today, under Margarita Simonyan’s leadership.
And I cannot ignore the fact that in many African countries, a number of important roles within the African Union and a host of other regional organizations are staffed by graduates of Soviet and Russian universities. This says a great deal about the nature of Russian-African partnership. And there is still a high degree of interest among African people in studying in the Russian Federation.
I am also aware that Rossotrudnichestvo (the Federal Agency for the Commonwealth of Independent States, Compatriots Living Abroad and International Humanitarian Cooperation) is working hard to make Russia’s humanitarian presence both more effective and more keenly felt abroad, including in African countries.
What plans do you have in terms of developing cooperation in education, the media and culture over the next few years?
The final declaration of the inaugural Russia-Africa Summit includes an entire section on our collaboration in science, culture, education and social ties.
Rossotrudnichestvo is the main body in Russia responsible for humanitarian cooperation, including with African states. At the next meeting of the public council, we intend to discuss this agenda in detail with Yevgeny Primakov, who heads the organisation. This discussion will take place within the context of implementing the decisions of the Sochi Summit and working towards fulfilling associated objectives.
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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