World

Reassessing Russia’s Engagement with Zimbabwe

Published

1 year ago

18/06/2024

By Kestér Kenn Klomegâh

As often reiterated, Russia and Zimbabwe have had excellent bilateral relations, dating from the time of Zimbabwe’s struggle for political independence. The Soviet Union supported with military equipment, and training specialists and offered humanitarian supplies, and until today Zimbabwe is still looking for such bilateral relations. A comprehensive analysis indicates that not much is visible on the landscape of Zimbabwe, except frequent shuttling visits of government officials between Harare and Moscow.

The list of those official visits can be found on government websites. Of course, not all have been documented there such as those dealing with military-technical cooperation and intelligence services. But it can also be recalled here in 2022, Speaker of the National Assembly of the Republic of Zimbabwe Jacob Mudenda and his delegation paid a reciprocal working visit late September to Moscow, held separate meetings with Russian Upper House Speaker Valentina Matviyenko and Chairman of the State Duma Vyacheslav Volodin, and finally addressed the plenary session of the State Duma.

Upper Chamber Senator Matviyenko and Lower Chamber Legislator Volodin, both have similar unique declaratory statements emphasizing the fact that Russia considers cooperation with African countries to be a foreign policy priority. And that Zimbabwe is Russia’s priority in the southern African region.

Upper House Speaker Valentina Matviyenko visited and donated, as Zimbabweans expected from Moscow, huge gifts in June 2022. During her conversation with the head of the charitable foundation and First Lady of the Republic of Zimbabwe Auxilia Mnangagwa Matviyenko noted mutual understanding that has developed in Russian-Zimbabwean relations. She, in addition, drew attention to the fact that the Angels of Hope charity fund coordinates the selection of candidates from low-income families for higher education in Russia under the quota of the Government of the Russian Federation.

“We highly appreciate it that the Zimbabwean leadership remains committed to the development of bilateral relations and mutually beneficial cooperation with Russia. And that Zimbabwe is resolutely resisting the unprecedented pressure of the collective West led by the United States, their open attempts to dictate their will,” Matviyenko said.

Besides the above charity, the Russia-Zimbabwe Intergovernmental Commission on Economic, Scientific and Technical Cooperation has held a series of meetings in Harare and Moscow. Several agreements have been signed over the years to engage seriously in economic sectors, including, infrastructure development, transport, agriculture, industry nuclear technology et cetera. An increasing interest points to the Russian business community in building a beneficial partnership with Zimbabwe. For these to materialize, frequent interactions have been made possible, based on decades of strong ties of friendship and cooperation since the days of Zimbabwean Robert Mugabe.

One major landmark was Zimbabwe and Ethiopia, among African countries, have signed agreements with Russia to cooperate on the peaceful use of nuclear technology on the sidelines of the Russia-Africa Economic and Humanitarian Forum in St Petersburg, in July 2023. Rosatom has offices in Cairo and Pretoria with the responsibility of managing the nuclear projects in Africa.

For decades, Rosatom has signed (and resigned) agreements with African countries for the construction of nuclear plants for civilian purposes. Today, African countries face major challenges in ensuring energy security. Experts believe that nuclear technologies can become a driver for socio-economic development and a comprehensive solution to systemic continent-wide problems. In addition, nuclear, of course, offers long-term sustainability and diversity away from solar and hydro.

These unique steps seemingly suggest a pragmatic approach prioritizing Africa’s energy security, on one hand. It is interesting to note, on the other hand, that Russia’s nuclear agreements with 28 African countries have been fully undertaken and completed primarily due to a lack of finance. The key hindrance is the cost of producing nuclear energy how best to deal with nuclear waste to maintain a safe environment, and the risk that it poses from poor handling and management. After the first Russia-Africa summit held in 2019, Russia has, as an exceptional case, granted a $29 billion loan for the nuclear plant construction in Egypt based on its strategic bilateral relations. The nuclear agreement was signed as far back as 2015.

President of the Republic of Zimbabwe, Emmerson Dambudzo Mnangagwa, since the beginning of the Russia-Ukraine crisis and the ‘special military operation’ aims at denazifying and demilitarizing Ukraine, has utterly rejected the United States’ appeal to support sanctions against Russia. It has, therefore, won Russia’s sympathy as a ‘friendly’ African ally. In return, Zimbabwe was given in late 2023 what was termed ‘delivery at no-cost’ grains and fertilizers, these were in addition to supplies of military equipment and training of Zimbabwean citizens on state budget at educational institutions in the Russian Federation. According to the official statistics, there are currently 400 Zimbabweans studying in the Russian Federation.

Mnangagwa, while visiting as a guest speaker at the 27th St. Petersburg International Economic Forum (SPIEF) and his special meeting with President Vladimir Putin in June 2024, was excited at winning favours by explaining, at length, how the United States has been supporting neighbouring southern African countries. Ultimately, Mnangagwa was to get better treatment for a broader supply of arms and weaponry, and food to feed the impoverished population. He did not negotiate for investment in agriculture, he did not suggest the construction of, at least, a kilometre road or a local school in any of the rural regions in Zimbabwe.

What was important for Zimbabwe, Mnangagwa asked for the chance to enhance bilateral cooperation, and that Zimbabwe is “one of the few countries in southern Africa that is regarded as anti-West” so there is a concrete basis for pursuing more consolidated relations to escape being further isolated in southern Africa. “And there is a lot more that we can open for the Russian Federation to participate in our economy, especially in the mining sector and agriculture,” he stressed in his discussion.

Russia’s perspectives on the struggle against growing neo-colonialism and Western-style tendencies, most probably, have to do with pushing for large-scale development programmes, and support for attaining economic sovereignty. If that is the case, then Russia needs to borrow a single page from China. Zimbabwe has the full-fledged confidence to opt for hosting the third Russia-Africa Summit in Harare simply because China has given that country a new parliamentary village with modern facilities for large conferences. Compared, Russia has not constructed a single one-kilometre road in the transport sector in Zimbabwe consistently claims to have under its umbrella excellent relations from the Soviet times.

The new parliament building is located in Mount Hampden, approximately 25 kilometres (16 mi) northwest of Harare. The parliamentary chambers can accommodate up to 650 legislators, their offices, conference rooms and meeting spaces. The engineering, procurement and construction (EPC) contract was awarded to Shanghai Construction Group, which erected the building between December 2018 and April 2022. A Chinese government delegation officially handed over the building complex to the government of Zimbabwe on 26 October 2023. The construction was fully funded at the cost of nearly $200 million by the Government of China, according to reports by Zimbabwean media.

Perhaps generally, Russia aspires to position itself as a leader in Africa, it thus far remains with its aspirations in the media headlines. Uprooting neo-colonialism requires investment in building economic sectors designed to improve the living standards of the impoverished population, creating employment for the youth. Russia’s footprints, such as providing infrastructure in agriculture, industry, transport and other sectors, are invisible in the continent. The fundamental conservative assessment indicates that Africa is largely at the bottom position in terms of overall development in the southern hemisphere, what is now called the Global South.

Russia is gathering the Global South as a force against the United States and Western Europe. Africa has been given all kinds of descriptions, one being having “unparalleled natural wealth and boundless potentials,” and by this definition, Russia has to determine its proposed commitment to driving economic diversification, transformation and development across the African continent. That, however, its rhetoric has reached the highest peak of the African mountains.

Zimbabwe has the world’s second-largest platinum reserves after South Africa. Russia declared interest in the development of a platinum deposit in Darwendale. Several reports later confirmed that Russians had abandoned their lucrative platinum project contract that was signed for $3 billion in September 2014, the platinum mine in the sun-scorched location about 50 km northwest of Harare, the Zimbabwean capital. With great pomp and pageantry, Foreign Minister Sergey Lavrov launched the $3 billion Russian project back in 2014, after years of negotiations, with the hope of raising its economic profile in Zimbabwe.

Reports also indicated that the project was expected to involve a consortium consisting of the Rostekhnologii State Corporation, Vneshekonombank and Vi Holding in a joint venture with some private Zimbabwe investors as well as the Zimbabwean government.

Mnangagwa has been committed to opening up Zimbabwe’s economy to the rest of the world to attract the much-needed foreign direct investment to revive the ailing economy and make maximum use of the opportunities for bolstering and implementing some large projects in the country. That Zimbabwe would undergo a “painful” reform process to achieve transformation and modernization of the economy.

Zimbabwe has various potential investment sectors besides mining. There is a possibility of greater participation of Russian economic operators in the development processes in Zimbabwe, and southern Africa. But Russians need to move away from too much rhetoric and make concrete economic engagement over the forthcoming years.

Zimbabwe, a landlocked country in southern Africa, shares a 200-kilometre border on the south with South Africa, bounded on the southwest and west by Botswana, on the north by Zambia and the northeast and east by Mozambique. Zimbabwe is a member of the Southern African Development Community (SADC).

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Russian-Nigerian Economic Diplomacy: Ajeokuta Symbolises Russia’s Remarkable Achievement in Nigeria

Published

5 days ago

01/12/2025

Business Post Contributor

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

Published

1 week ago

27/11/2025

Adedapo Adesanya

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

Published

1 week ago

25/11/2025

Modupe Gbadeyanka

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.”