World
Prominent African Journalists Visit PhosAgro’s Volkhov Plant
By Kestér Kenn Klomegâh
Journalists from leading African media took part in an extensive tour of the production facilities and infrastructure at PhosAgro’s Volkhov production complex, including the plant’s upgraded phosphoric acid and mineral fertilizer production facilities, as well as the new SK-800 sulphuric acid plant and new energy facilities, which recycle process steam into electricity for the plant.
The journalists heard presentations on PhosAgro’s activities and the significant role that the Company and the Russian mineral fertilizer industry play in ensuring global food security and supporting humanitarian projects in Africa.
PhosAgro invested over RUB 34 billion to develop its Volkhov complex. Thanks to extensive upgrades and new construction, the plant has increased its annual production of mineral fertilizers to over 1 million tonnes, a more than fivefold increase since 2019, when construction of the new production facility began.
The processing of phosphate rock has increased more than sixfold compared with 2019 to over 1.6 million tonnes; the production of sulphuric acid, more than fivefold to 1.1 million tonnes; and the production of phosphoric acid, more than sixfold to about 600 thousand tonnes. The plant’s location near Baltic ports, which are focused on exporting products to friendly countries, enhances the Company’s capacity to export products to Africa.
As PhosAgro’s Deputy CEO for Finance and International Projects, Alexander Sharabaika, noted during the briefing, PhosAgro is working closely with international organizations to implement humanitarian initiatives in Africa. As part of the Green Chemistry for Life programme, in partnership with UNESCO and the International Union of Pure and Applied Chemistry (IUPAC), the Company provides grants to young scientists studying the application of advanced chemical technologies in areas such as environmental protection, natural resource management and waste recycling.
Over seven selection rounds, the international jury has reviewed over 900 applications and awarded grants to 48 young researchers, including 13 talented African scientists from Egypt, Kenya, Nigeria, Tunisia, South Africa, Sudan and Zimbabwe. In addition, more than 200 young researchers from Africa have received stipends as part of the Green Chemistry Summer School programme organized by IUPAC and PhosAgro.
In 2019, PhosAgro became an official partner for the launch of a regional network of soil laboratories in Africa (AFRILAB) as part of a joint project with the UN Food and Agriculture Organization (FAO). The African network currently has 220 laboratories across 54 countries that assess the quality and safety of fertilizers and monitor soil conditions.
To date, more than 11,000 farmers from 20 developing countries have already participated in the project. Approximately 4,500 farmers from over 20 African countries have received training through the programme. The programme will be expanded this year to include even more new African farmers.
“Another key aspect of our humanitarian efforts is sharing knowledge about sustainable agriculture through advanced educational tools. Last year, we launched an international platform called Pro Agro Lectorium, available in English and Portuguese and based on our Russian-language educational programme.
“Over the past year, it has evolved into a truly global educational hub for advanced agricultural technologies. Pro Agro Lectorium has been recognized as an official educational platform by the Agribusiness Working Group of the BRICS Business Council.
“In addition to BRICS, its work is supported by experts from the FAO, the International Union of Soil Sciences and world-renowned scientists,” said Mikhail Sterkin, PhosAgro’s Deputy CEO for Sales and Marketing.
University students can use PhosAgro’s platform to access the latest knowledge in the field of agrochemistry and to gain insights into their future profession. Graduates can use the lectures available on the site to get a head start in their careers, teachers can update their knowledge and engage in self-study and farmers can undertake additional training.
PhosAgro’s educational platform is constantly expanding, said Mr Sterkin. Nearly 60 leading academicians and practitioners from around the world, including 9 speakers from African countries, have recorded more than 420 lectures on agricultural science and agrochemistry, crop and livestock farming, innovation and digitalization in agriculture, economics and responsible agriculture. In collaboration with its African partners, PhosAgro is integrating its online platform into the educational process for African students. Nine cooperation agreements have already been signed with African universities.
During their tour, the journalists also visited both the Fifteenth Element corporate museum and exhibition centre, where they learned about the site’s history, and St Andrew’s Cathedral, which the Company built as part of its Spiritual Revival programme to promote cultural and spiritual values. The press tour concluded with a visit to the Staraya Ladoga Museum-Reserve, where the journalists thanked senior executives of PhosAgro and its Volkhov plant for inviting them.
PhosAgro’s main products, including phosphate rock, 58 grades of fertilizers, feed phosphates, ammonia and sodium tripolyphosphate, are used by customers in 100 countries spanning all the world’s inhabited continents. The company’s priority markets beyond Russia and the CIS are Latin America, Europe and Asia.
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.”
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.
