World
Russia, Africa and the Debts
By Kester Kenn Klomegah
Long seen as a strategic partner, Russia has opened a new chapter and started building better relations with Africa, and most significantly made its move by writing off Africa’s debts accumulated from Soviet era. After the Soviet collapse, Russia first attempted at collecting its debts. Indeed, these Soviet-leaning debt-trapped African countries were unable to pay them (these debts) back to Russia.
During the Soviet era, Moscow forged alliances with African countries, especially those that supported its communist idealogy, and supplied them with military equipment and offered technical assistance on bilateral basis. In particular, supplied arms went to Angola, Algeria, Democratic Republic of Congo (DRC), Ethiopia, Namibia, Mozambique, Morocco and South Africa. That Soviet-era form of diplomatic engagement left many African countries indebted to an amount of US$20 billion, according to official documents.
In an interview with TASS, Russian State News Agency, ahead of the first Russia-Africa Summit, Russian President Vladimir Putin explained Soviet’s role in the liberation of the continent, support for the struggle of its peoples against colonialism, racism and apartheid. In addition, the enormous help offered Africans to protect their independence and sovereignty, gain statehood, support for national economies, and created capable armed forces for Africa.
“Our African agenda is positive and future-oriented. We do not ally with someone against someone else; and we strongly oppose any geo-political ‘games’ involving Africa,” he said during the interview before referring the debts write-off to Africa. “Let me point out that in the post-Soviet period, at the end of the 20th century, Russia cancelled US$20 billion of African countries’ debts to the Soviet Union. This was both an act of generosity and a pragmatic step, because many of the African states were unable to service those debts. We, therefore, decided that it would be best for everyone to start our cooperation from scratch,” said President Putin during that interview.
On October 23, 2019, President Vladimir Putin and President of the Arab Republic of Egypt, African Union Chairman and Co-Chairman of the Russia-Africa Summit Abdel Fattah el-Sisi took part in the Russia-Africa Economic Forum. During the plenary session held under the theme “Russia and Africa: Uncovering the Potential for Cooperation” and attended by top officials, politicians and business leaders, and almost 2,000 Russian and foreign companies, the debts write-off as as basis for economic growth and for developing long-tern relations featured prominently. (http://en.kremlin.ru/events/
“Economic issues are an integral part and a priority of Russia’s relations with African countries. Developing close business ties serves our common interest, contributes to the sustainable growth, helps to improve quality of life and solve numerous social problems,” President Putin said, and then added, “Russia provides systematic assistance to developing the African continent. Our country is participating in an initiative to ease the African countries’ debt burden. To date, the total amount of write-offs stands at over US$20 billion. Joint programmes have been launched with a number of countries involving the use of debts to finance national economic growth projects.”
On September 5, 2017, President Vladimir Putin attended a meeting of BRICS leaders with delegation heads from invited states, including the Heads of State and Government of Egypt, Tajikistan, Mexico, Guinea and Thailand. The meeting discussed the implementation of the 2030 Agenda for Sustainable Development and prospects for further developing their partner relations. Before the meeting, the BRICS leaders and delegation heads form invited states had a joint photo session, President Putin informed that “Russia has been working actively to implement the 2030 Agenda for Sustainable Development. We have written off over US$20 billion of African countries’ debts through the Heavily Indebted Poor Countries Initiative.” (http://en.kremlin.ru/events/
On January 30, 2015, President Putin sent his greetings to the 24th Ordinary Session of the Assembly of the African Union Heads of State and Government. The message stated in part: The Russian Federation’s relations with our African partners are developing positively. We have established a substantial political dialogue and work actively together in international affairs. Russia’s decision to write off much of African countries’ debt and the preferential conditions we offer the majority of Africa’s traditional export goods open up new possibilities for trade, economic and investment cooperation. (http://en.kremlin.ru/events/
On March 27, 2013, in Durban, South Africa, in a speech at meeting with Heads of African states, President Putin explicitly noted “Over the course of many decades, Russia has provided direct assistance to the African continent. I would like to note that we have written off over 20 billion dollars in debt; we have written off far more than any other G8 nation. We plan to take additional measures to ease the debt burden.”
According to the Russian leader, the BRICS group’s companies are working actively in the African market; there is a growing influx of investments into various sectors in Africa’s economies, from traditional mineral extraction and farming to high technologies and banking. He added BRICS countries are championing the rights and interests of Africa and other nations with emerging economies, speaking out in favour of increasing their role and influence in the global governance system, particularly international financial and economic organizations. (http://en.kremlin.ru/events/
On June 28, 2002, in Kananaskis, Canada, there was a media conference after the G8 Summit. There was one specific question regarding Africa. The G8 approached the plan submitted by African countries in a creative way. What can be Russia’s role and place in addressing the global problem of combating poverty?
President Vladimir Putin answered: “As regards Russia, it has traditionally had very good relations with the African continent. We are very perceptive of the problems on the African continent. I must say that Russia has been making a very tangible contribution to solving Africa’s problems. Suffice it to say Russia is making a big contribution to the initiative adopted here, a multi-lateral initiative, including the writing off part of African debts. Of all the African debts that are to be written-off, 20% are debts to the Russian Federation. That is US$26 billion.”
On May 21, 2007, The Kremlin made available Excerpts of the Transcript of the Cabinet Meeting (http://en.kremlin.ru/events/
“We discussed responsible lending and relations with countries that have benefited from debt relief. We are writing off debt, reducing these countries’ debt burden, and meanwhile their opportunity to incur new debts is increasing simultaneously. And a number of countries are starting to make huge loans to these countries, taking advantage of the fact that they are no longer in debt and lending to them at such a rate that these countries will once again require help. These instances exist. In fact, this practice is liable to be perceived in a negative way. A number of leading countries in the world are engaged in this practice,” he said.
At Sochi summit, Putin’s announcement about “debt write-off” was, therefore, nothing new. The Africa’s debts write-off debt has been played for years. It featured in Foreign Minister Lavrov speeches, at least between 2007 and 2015, as indicated here from the official website of the Foreign Affairs Ministry.
Remarks by Foreign Minister Sergey Lavrov at the UN Summit for the Adoption of the Post-2015 Development Agenda, New York, September 27, 2015 (1814-27-09-2015).
He said: “Russian development assistance is invariably aimed at solving the most pressing challenges faced by the countries in need. In these efforts, we are neither trying to lecture our partners on how they should build their lives, nor impose political models and values. Poverty eradication is the key objective of Russia’s state policy in the area of international development assistance at the global level.”
Debt relief is an effective tool in this regard. Under the Heavily Indebted Poor Countries Initiative (HIPC), our country has written off over 20 bn US dollars of the principal debt owed by African countries alone. Russia also contributes to reducing the debt burden of the poorest countries beyond the HIPC through debt-for-aid swaps. We also take other steps towards the settlement of debt owed to Russia, both within multilateral and bilateral formats, he added.
Speech by the Russian Foreign Minister Sergey Lavrov at the reception on the occasion of Africa Day, Moscow, 22 May 2014 (1243-22-05-2014). As it is known, Russia has written off over 20 billion US dollar debt of African states. We are undertaking steps to further ease the debt burden of Africans, including through conclusion of agreements based on the scheme “debt in exchange for development”according to the Foreign Minister.
In April, 2014, the President of the Russian Federation, Vladimir Putin, approved the new State policy concept of the Russian Federation in the area of contribution to international development. Its practical implementation will contribute to the build-up of participation in the area of assistance to the development of states of the African continent, according to the report posted to the website.
Transcript of Remarks by Minister of Foreign Affairs of the Russian Federation Sergey Lavrov at Reception on Occasion of Africa Day, Moscow, May 26, 2008 (751-26-05-2008). “Russia has done a great deal to alleviate the debt burden, particularly in the framework of the Enhanced Heavily Indebted Poor Countries Initiative, and in writing off multilateral debts to the IMF and the International Development Association. The overall amount of the African countries’ indebtedness cancelled by us, including on a bilateral basis, exceeds 20 billion dollars, of which about one-half in the last two years,” Lavrov told the gathering on Africa Day in 2008.
As far back as May 2007, the Foreign Ministry showed interest in Africa’s debts. “We are helping our African partners reduce the burden of foreign debt. We have written off African debt within the framework of the initiative to reduce the indebtedness of the poorest nations,” Foreign Minister Sergey Lavrov said at May 25 gathering of a group of ambassadors, diplomats and ministry officials marking Africa Day.
The move signaled Russia’s intention to fulfill its commitments made at that time Group of Eight (G8) meetings as well as paving the way to increased trade with the African continent. It was then, signed into law March 10 ratifying the agreement between Russia and African countries it aided during the Soviet era. Russia continued discussions on a full debt write-off on bilateral basis, African countries owed nearly US$20 billion. The debt was primarily through weapon deliveries, according to the official transcript.
“The most important aspect of economic cooperation in our foreign policy is to encourage African countries to trade with us and to not only depend on development aid. Always looking for aid makes these countries less productive and funds for projects end up in foreign banks at the expense of the suffering population,” Lavrov said.
In March 2019, President Vladimir Putin chaired a meeting of the Commission for Military-Technical Cooperation with Foreign States and Kremlin’s website transcript pointed to the geographic reach of military-technical cooperation as constantly expanding, with the number of partners already in more than 100 countries worldwide.
Since then, President Putin has repeatedly called for renewed efforts, not only, in preserving, but also, in strengthening Russia’s leading position on the global arms market, primarily in the high-tech sector, amid tough competition. He further called for reliance on the rich experience in this sphere and building up consistently military technology cooperation with foreign states.
“We strictly observe international norms and principles in this area. We supply weapons and military equipment solely in the interests of security, defence and anti-terrorism efforts. In each case, we thoroughly assess the situation and try to predict the developments in the specific region. There are no bilateral contracts ever targeted against third countries, against their security interests,” he explained.
According to the Kremlin website, Russia targeted global export contracts worth 50 billion dollars in 2018. Russia’s export priority is to expand its scope and strengthen its position on the market.
Over the past years, strengthening military-technical cooperation has been a strong part of the foreign policy of the Russian Federation. Russia has signed bilateral military-technical cooperation agreements with many African countries. On the other hand, Moscow’s post-Cold War relations with Africa, undoubtedly, lean toward military support and arms trade. Analysis by the Stockholm International Peace Research Institute (SIPRI) indicates that between 2014 and 2018, Russia accounted for 49% of arms imports to North Africa and 28% to Sub-Saharan Africa.
Africa has started accumulating fresh debts. For example, Johan Burger’s article details crucial information in relation to Russia’s military interests in Africa. Russia has established or intends to establish military bases in Sudan along the Red Sea Coast, Somaliland, and Egypt. Another publication highlights Russia’s military bases in Madagascar, Mozambique, and Guinea. Lately, the Central African Republic intends to host a Russian military base.
Last October, President of the Arab Republic of Egypt, African Union Chairman and Co-Chairman of the Russia-Africa Summit, Abdel Fattah el-Sisi, noted in his speech at the plenary session of the Russia-Africa Economic Forum: Africa welcomes the efforts to encourage an open door policy and cooperation with its partners with a view to making a breakthrough in developing its economy. Russia and other foreign countries as well as international financial organizations have to develop cooperation and invest in Africa.
Further, the Egyptian leader urged international and regional financial organizations to take part in funding Africa’s economic growth and to give it financial guarantees on consolidating its economic potential. This would help promote trade and investment. Further urged foreign countries to grant African states generous terms for their projects and development programmes, which will help Africa reach its dream – to embark on the road of progress, modernization and sustainable development.
Before concluding his speech, President Abdel Fattah el-Sisi emphasized that cooperation with Africa must be based on common interests, on the protection of African property, which would allow Africa to promote comprehensive sustainable development by carrying out three major goals.
First, it is necessary to accelerate economic reforms and create a businesslike atmosphere by establishing close partnership with the private sector. Second, it is essential to implement social justice principles with the broad participation of society. Third, it is necessary to consolidate peace and stability in accordance with the African Union’s Agenda 2063 and Sustainable Development Goals 2030.
By Kestér Kenn Klomegâh
The geopolitical situation and the economic architecture are rapidly changing, creating new conditions for Russia to get committed to the ideals of a multipolar world, President Vladimir Putin said at a ceremony to receive diplomatic credentials from newly appointed foreign ambassadors in Alexandrovsky Hall of the Bolshoi Kremlin Palace.
“Our country has always pursued and will continue to pursue a weighted, constructive foreign policy course that takes into account both Russia’s national interests and the objective global development trends. With all partners interested in cooperation, we are set to maintain truly open and mutually beneficial relations, deepening ties in politics, economy, and humanitarian sphere,” Putin emphasized in his speech.
For Putin, Russia is ready to work with countries that are strategic partners, with whom it is united by friendship, cooperation and mutual support and with whom it is ready to work together in international business structure.
In the Kremlin was a large group of ambassadors from African countries: Somalia, Gabon, Senegal, Rwanda, Mauritania, Algeria, Ghana and Namibia who Putin received in the official ceremony, noted particularly that “Russia is connected with all the states of the continent by the relationship of genuine partnership, support and mutual benefit.”
According to him, the foundations of these relationships were laid back during the struggle of African peoples for freedom and political independence. And Russia has made a significant contribution to the liberation of African countries from colonial rule, contributed tremendously to attaining their statehood, and to the development of national economies, social sphere, and training and education.
Russia was and remains committed to such approaches and is ready to restore the necessary level of relations. With heightening of new global trends, Russia invariably aims to expand mutual political, economic and humanitarian contacts. Russia will continue to provide assistance to Africans in their quest for development, for active participation in international affairs.
These issues were discussed at the Russian-African summits in Sochi and St. Petersburg, at the meeting of the Russian-African Foreign Ministers’ Partnership Forum in Cairo, Egypt. Russia and Africa are both preparing to hold this year’s regular, the third Russia-Africa summit.
In general, Russia is open to mutually beneficial cooperation with all countries. And naturally, are interested in making the activity of each of the ambassadors as effective as possible. With useful initiatives proposed by ambassadors will receive support from the Russian leadership, executive authorities, entrepreneurs and civil society. “Let me wish you success and all the best in your work,”concluded Putin.
By Kestér Kenn Klomegâh
The International Monetary Fund (IMF) has announced the retirement of its director of the African department, Abebe Aemro Selassie, on May 1, 2026. Since his appointment in 2016, Abebe Selassie has served in this position for a decade. During his tenure, IMF added a 25th chair to its Executive Board, increasing the voice of sub-Saharan Africa.
As a director for Africa, he has overseen the IMF’s engagement with 45 countries across sub-Saharan Africa. Abebe and his team work closely with the region’s leaders and policymakers to improve economic and development outcomes. This includes oversight of the IMF’s intensified engagement with the region in recent years, including some $60 billion in financial support the institution has provided to countries since 2020. Reports indicated that under his leadership, his department generally reinforces the organization’s role as a trusted partner to many African countries.
Abebe Selassie has worked with both the regional economic blocs and the African Union (AU) as well as individual African states. The key focus has been the strategic articulation of Africa’s development priorities in reshaping economic governance, mobilizing sustainable investments, and addressing systemic financial challenges.
It is important noting that the IMF has funded diverse infrastructure projects that facilitated either export-led growth or import substitution industrialization models of development. Further to that, African states have also made numerous loans and benefited from much-needed debt relief.
Summarizing the IMF’s key focus areas, among others, for Africa: (i) reforming the global financial architecture in an effort to improve the structure, institutions, rules, and processes that govern international finance in order to make the global economy more stable, equitable, and resilient.
Concessional financing to counter rising borrowing costs, with Africa paying up to 5 times more in interest than advanced economies (AfDB, 2023). Fair representation, pushing for IMF quota reforms to reflect Africa’s $3.4 trillion collective GDP—yet the continent holds less than 5% of voting shares in Bretton Woods institutions.
(ii) Unlocking Investments for Jobs and Sustainable Growth. With Africa’s working-age population set to double to 1 billion by 2050, the African states spotlight: The African Continental Free Trade Area (AfCFTA), projected to boost intra-African trade by 52% and create 30 million jobs by 2035 (World Bank, 2024). Infrastructure partnerships, targeting sectors such as renewable energy, where Africa receives only 2% of global clean energy investments despite its vast solar and wind potential (IEA, 2024).
(iii) Climate Finance and Debt Relief for Resilience: Africa contributes less than 4% of global emissions but bears the brunt of climate shocks, losing 5–15% of GDP per capita to climate-related disasters annually (African Development Bank, 2024). These are strictly in alignment with Agenda 2063’s aspirations for inclusive growth, maximizing multilateral cooperation and enhancing global engagement with the continent.
“I am deeply grateful for Abe’s visionary leadership, dedication to the Fund’s mission, and unwavering commitment to the members in the region,” Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). “The legacy he leaves on the Fund’s work in Africa is one of alignment with the aspirations of people, especially the youth, for good governance, strong economies and lasting prosperity. His trusted advice has been invaluable to me personally, and his leadership has strengthened our mission.”
“A national of Ethiopia, Selassie first joined the IMF in 1994. Over his remarkable 32-year career, he held senior positions including Deputy Director in AFR, Mission Chief for Portugal and South Africa, Division Chief of the Regional Studies Division, and Senior Resident Representative in Uganda. Earlier, he contributed to programs in Turkey, Thailand, Romania, and Estonia, and worked on policy, operational review, and economic research.”
Under his ten-year leadership and as director of the African Department (AFR), Abebe Selassie helped to reinforce the Fund’s role as a trusted partner with sub-Saharan African members. The International Monetary Fund (IMF) is an international organization that promotes global economic growth and financial stability, encourages international trade, and reduces poverty.
By Kestér Kenn Klomegâh
Squeezed between import substitution and dependency syndrome, a condition characterized by a set of associated economic symptoms—that is rules and regulations—majority of African countries are shifting from United States and Europe to an incoherent alternative bilateral partnerships with Russia, China and the Global South.
By forging new partnerships, for instance with Russia, these African countries rather create conspicuous economic dependency at the expense of strengthening their own local production, attainable by supporting local farmers under state budget. Import-centric partnership ties and lack of diversification make these African countries committed to import-dependent structures. It invariably compounds domestic production challenges. Needless to say that Africa has huge arable land and human resources to ensure food security.
A classical example that readily comes to mind is Ghana, and other West African countries. With rapidly accelerating economic policy, Ghana’s President John Dramani Mahama ordered the suspension of U.S. chicken and agricultural products, reaffirming swift measures for transforming local agriculture considered as grounds for ensuring sustainable food security and economic growth and, simultaneously, for driving job creation.
President John Dramani Mahama, in early December 2025, while observing Agricultural Day, urged Ghanaians to take up farming, highlighting the guarantee and state support needed for affordable credit and modern tools to boost food security. According to Mahama, Ghana spends $3bn yearly on basic food imports from abroad.
The government decision highlights the importance of leveraging unto local agriculture technology and innovation. Creating opportunities to unlock the full potential of depending on available resources within the new transformative policy strategy which aims at boosting local productivity. President John Dramani Mahama’s special initiatives are the 24-Hour Economy and the Big Push Agenda. One of the pillars focuses on Grow 24 – modernising agriculture.
Despite remarkable commendations for new set of economic recovery, Ghana’s demand for agricultural products is still high, and this time making a smooth shift to Russia whose poultry meat and wheat currently became the main driver of exports to African countries. And Ghana, noticeably, accepts large quantity (tonnes) of poultry from Russia’s Rostov region into the country, according to several media reports. The supplies include grains, but also vegetable oils, meat and dairy products, fish and finished food products have significant potential for Africa.
The Agriculture Ministry’s Agroexport Department acknowledges Russia exports chicken to Ghana, with Ghanaian importers sourcing Russian poultry products, especially frozen cuts, to meet significant local demand that far outstrips domestic production, even after Ghana lifted a temporary 2020 avian flu-related ban on Russian poultry.
Moreover, monitoring and basic research indicated Russian producers are actively increasing poultry exports to various African countries, thus boosting trade, although Ghana still struggles to balance imports with local industry needs.
A few details indicate the following:
Trade Resumed: Ghana has lifted its ban on Russian poultry imports since April 2021, allowing poultry trade to resume. Russian regions have, thus far, consistently exported these poultry meat and products into the country under regulatory but flexible import rules on a negotiated bilateral agreement.
Significant Market: In any case, Ghana is a key African market for Russian poultry, with exports seeing substantial growth in recent years, alongside Angola, Benin, Cote d’Voire, Nigeria and Sierra Leone.
Demand-Driven: Ghana’s large gap between domestic poultry production and national demand necessitates significant imports, creating opportunities for foreign suppliers like Russia.
Major Exporters: Russia poultry companies are focused on increasing generally their African exports, with Ghana being a major destination. The basic question: to remain as import dependency or strive at attaining food sufficiency?
Product Focus: Exports typically include frozen chicken cuts (legs and meat) very vital for supplementing local supply. But as the geopolitical dynamics shift, Ghana and other importing African countries have to review partnerships, particularly with Russia.
Despite the fact that challenges persist, Russia strongly remains as a notable supplier to Ghana, even under the supervision of John Mahama’s administration, dealing as a friendly ally, both have the vision for multipolar trade architecture, ultimately fulfilling a critical role in meeting majority of African countries’ large consumer demand for poultry products, and with Russia’s trade actively expanding and Ghana’s preparedness to spend on such imports from the state budget.
Following two high-profile Russia–Africa summits, cooperation in the area of food security emerged as a key theme. Moscow pledged to boost agricultural exports to the continent—especially grain, poultry, and fertilisers—while African leaders welcomed the prospect of improved food supplies.
Nevertheless, do these African governments think of prioritising agricultural self-sufficiency. At a May 2025 meeting in St. Petersburg, Russia’s Economic Development Minister, Maxim Reshetnikov, underlined the fact that more than 40 Russian companies were keen to export animal products and agricultural goods to the African region.
Russia, eager to expand its economic footprint, sees large-scale agricultural exports as a key revenue generator. Estimates suggest the Russian government could earn over $15 billion annually from these agricultural exports to African continent.
Head of the Agroexport Federal Center, Ilya Ilyushin, speaking at the round table “Russia-Africa: A Strategic Partnership in Agriculture to Ensure Food Security,” which was held as part of the international conference on ensuring the food sovereignty of African countries in Addis Ababa (Ethiopia) on Nov. 21, 2025, said: “We see significant potential in expanding supplies of Russian agricultural products to Africa.”
Ilya Ilyushin, however, mentioned that the Agriculture Ministry’s Agroexport Department, and the Union of Grain Exporters and Producers, exported over 32,000 tonnes of wheat and barley to Egypt totaling nearly $8 million during the first half of 2025, Kenya totaling over $119 million.
Interfax media reports referred to African countries whose markets are of interest for Russian producers and exporters. Despite existing difficulties, supplies of livestock products are also growing, this includes poultry meat, Ilyushin said. Exports of agricultural products from Russia to African countries have more than doubled, and third quarter of 2025 reached almost $7 billion.
The key buyers of Russian grain on the continent are Egypt, Algeria, Kenya, Libya, Tunisia, Nigeria, Morocco, South Africa, Tanzania and Sudan, he said. According to him, Russia needs to expand the geography of supplies, increasing exports to other regions of the continent, increase supplies in West Africa to Benin, Cameroon, Ghana, Liberia and the French-speaking Sahelian States.
Nevertheless, Russian exporters have nothing to complain. Africa’s dependency dilemma still persists. Therefore, Russia to continue expanding food exports to Africa explicitly reflects a calculated economic and geopolitical strategy. In the end of the analysis, the debate plays out prominently and the primary message: Africa cannot and must not afford to sacrifice food sovereignty for colourful symbolism and geopolitical solidarity.
With the above analysis, Russian exporters show readiness to explore and shape actionable strategies for harnessing Africa’s consumer market, including that of Ghana, and further to strengthen economic and trade cooperation and support its dynamic vision for sustainable development in the context of multipolar friendship and solidarity.
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