World
Russia, Africa to Boost Trade
By Kester Kenn Klomegah
Foreign Affairs Minister Sergey Lavrov has said that trade between Russia and Africa would grow further as more and more African partners continued to show interest in having Russians in the economic sectors in Africa.
“Our African partners are interested in Russian business working more actively there. This provides greater competition between the companies from Western countries, China, and Russia. With competition for developing mineral resources in Africa, it is easier and cheaper for our African colleagues to choose partners,” he told the staff and students at Moscow State Institute of International Affairs early September.
Soviet Union and Africa had very close and, in many respects, allied relations with most of the African countries during the decolonization of Africa. For obvious reasons, the Soviet Union ceased to exist in 1991. As a result, Russia has to struggle through many internal and external difficulties. The past few years, it is still struggling to survive both the United States and European sanctions.
“Of course, relations with many foreign countries have faded into the background compared with the challenges the country had to deal with in order to preserve its statehood. As we regained our statehood and control over the country, and the economy and the social sphere began to develop, Russian businesses began to look at promising projects abroad, and we began to return to Africa. This process has been ongoing for the past 15 years,” Lavrov further said about post-Soviet Russia’s relations with Africa.
“Overall, we are, of course, far from the absolute figures characterizing trade and investment cooperation between the African countries and, say, China. However, our trade grew by 17 percent over the past year (which is a sizable number) to over $20 billion and it continues to grow,” he informed the fully-packed auditorium.
Five years ago, precisely in May 2014, Lavrov said in a speech posted to the official website: “we attach special significance to deepening our trade and investment cooperation with the African States. Russia provides African countries with extensive preferences in trade. At the same time, it is evident that the significant potential of our economic cooperation is far from being exhausted and much remains to be done so that Russian and African partners know more about each other’s capacities and needs.”
Reports, however, show that Russia has started strengthening its economic cooperation by opening trade missions with the responsibility of providing sustainable business services and plans to facilitate import-export trade in a number of African countries. Besides all that, Russia has embarked on “Doing Business in Africa” campaign to encourage Russian businesses to take advantage of growing trade and investment opportunities in Africa.
Statistics on Africa’s trade with foreign countries vary largely. For example, the total United States two-way trade in Africa has actually fallen off in recent years, to about $60 billion, far eclipsed by the European Union with over $200 billion, and also China more than US$200 billion, according to Africa in Focus post by the Brookings Institution.
According to the African Development Bank, Africa’s economy is growing faster than those of any other regions. Nearly half of Africa’s countries are now classified as middle income countries, the numbers of Africans living below the poverty line fell to 39 percent as compared to 51 percent in 2016, and around 350 million of Africa’s one billion people are now earning good incomes – rising consumerism – that makes trade profitable.
As far back in October 2007, Russian Foreign Affairs Ministry posted an official report on its website that traditional products from least developed countries (including Africa) would be exempted from import tariffs. The legislation stipulates that the traditional goods are eligible for preferential customs and tariffs treatment.
While Russia announced this preferential tariff regime for developing countries, which also granted duty-free access for African products, potential African exporters either failed to take advantage of it or were unaware of the advantageous terms for boosting trade.
Analyzing the present market landscape of Africa, Russia can export its technology and compete on equal terms with China, India and other prominent players. On the other hand, Russia lacks the competitive advantage in terms of finished industrial (manufactured) products that African consumers obtain from Asian countries such as China, India, Japan and South Korea.
Charles Robertson, Global Chief Economist at Renaissance Capital, thinks that the major problem is incentives. China has two major incentives to invest in Africa. First, China needs to buy resources, while Russia does not. Second, Chinese exports are suitable for Africa – whether it is textiles or iPads, goods made in China can be sold in Africa. Russia exports little except oil and has (roughly 2/3 of exports), steel and metals (which is either not cost effective to sell in Africa, or again is the same as Africa is selling) and military weapons.
Keir Giles, an Associate Fellow of the Royal Institute of International Affairs (Chatham House) in London, told me that “there are some more fundamental problems which Russia would need to overcome to boost its trade turnover with the region. The majority of this vast amount of trade with China simply cannot be competed with by Russia. A large part of African exports to China by value is made up of oil, which Russia does not need to import. And a large part of China’s exports to Africa are consumer goods, which Russia doesn’t really produce.”
He explains further that trade in foodstuffs in both directions suffers similar challenges, which are unlikely to be affected by the current politically-motivated Russian ban on foods from the European Union, the United States and Australia. In effect, in sharp contrast to China, the make-up of Russian exports has not really developed since the end of the Soviet Union and still consists mostly of oil, gas, arms and raw materials. For as long as that continues, the scope for ongoing trading with most African nations is going to be severely limited.
Academic experts, who have researched Russia’s foreign policy in Africa, at the Russian Academy of Sciences’ Institute for African Studies, have reiterated that Russia’s exports to Africa can be possible only after the country’s industrial based experiences a more qualitative change and introducing tariff preferences for trade with African partners.
“The situation in Russian-African foreign trade will change for the better, if Russian industry undergoes rapid technological modernization, the state provides Russian businessmen systematic and meaningful support, and small and medium businesses receive wider access to foreign economic cooperation with Africa,” according to Professor Aleksey Vasiliyev, President of the Institute for African Studies and the first appointed Special Presidential Representative to Africa.
Quite recently, Dr. Gideon Shoo, Media Business Consultant based in Kilimanjaro Region in Tanzania, explained in an interview discussion with me that Russian companies need to prove their superiority in the business spheres and African governments have to make it easier for Russian companies to set up and operate in their countries.
“Russian financial institutions can offer credit support that will allow them to localize their production in Africa’s industrial zones, especially southern and eastern African regions that show some stability and have good investment and business incentives. In order to operate more effectively, Russians have to risk by investing, recognize the importance of cooperation on key investment issues and to work closely on the challenges and opportunities on the continent,” he added.
On the other hand, Dr. Shoo noted that Russia is, so far, a closed market to many African countries. It is difficult to access the Russian market. However, African countries have to look to new emerging markets for export products, make efforts to negotiate for access to these markets. This can be another aspect of the economic cooperation and great business opportunity for both regions.
Nearly all the experts have acknowledged here that import and export trade have been slow due to multiple reasons including inadequate knowledge of trade procedures, complicated certification procedures, expensive logistics, security and guarantee issues, rules and regulations as well as the existing market conditions.
By looking at and revising the rules and regulations, the situation about Russia’s presence in Africa and Africa’s presence in Russia could change. All that is necessary here is for Russia and Africa to make consistent efforts to look for new ways, practical efforts at removing existing obstacles that have impeded trade over the years.
For decades, Russia has been looking for effective ways to promote multifaceted ties and new strategies for cooperation in economic areas in Africa. Now, Kremlin will hold the first Russia-Africa Summit with high hopes of enhancing multifaceted ties, trying to reshape the existing relationships and significantly roll out ways to increase effectiveness of cooperation between Russia and Africa.
During the past decades, a number of foreign countries notably China, the United States, European Union, India, France, Turkey, Japan, and South Korea have held gatherings of this kind in that format. The idea to hold a Russia-Africa Summit was initiated by President Vladimir Putin at the BRICS (Brazil, Russia, India, China and South Africa) summit in Johannesburg in July 2018.
By Kestér Kenn Klomegâh
At the St Petersburg International Economic Forum 2026, the traditional “Russia-Africa Business Dialogue”, which was initiated in 2016, will deliberate aspects of forging economic cooperation between Russia and African countries. For a decade since its creation, this platform has practically discussed most pertinent roadblocks, highlighted the economic sectors, and outlined the prospects. The significant issues have also been treated at the first and second Russia-Africa summits.
As Moscow prepares to hold the next Russia-Africa summit in October, it is quite clear that Russia has still not worked out financial mechanisms to support its investments across Africa. Generally, the federal strategy for this area has been mapped out, Russian investors understand where to invest in Africa, but lacks extremely the financial motivation and approach to integrate young people into the business environment. Other constraining factors include a lack of financial support instruments the suitable environment for experience sharing and collaboration. At the same time, there are reports that point to a broad range of factors that hinder the development of youth entrepreneurship.
Historically, Russia–Africa relations have evolved through distinct phases after phases. The latest phase began from the first Russia-Africa summit through the second, and is currently moving to the third summit in October. As part of the strategic preparations, Tanzanian President Samia Suluhu Hassan was the guest of Vladimir Putin in the Kremlin. Russia and Tanzania have had good relations, but it has been more than a century since the last state visit of a Tanzanian leader to Russia. From the historical records, Mwalimu Nyerere visited in 1969. As a result, Samia Hassan’s official working visit had a special historic significance for the bilateral relations. “We see this as a very positive sign,” noted Putin. Further to that, Samia Hassan was decorated with an honorary doctorate degree (Doctor Honoris Causa) at the Russian Peoples Friendship University, expressed gratitude for the political solidarity, and underlined Russia for the great contribution which it provided during the African political liberation in the 60s.
Tanzania’s Distinctive Profile
Sergei Kiriyenko, the Deputy Chief of Staff of the Presidential Administration who oversees the department, visited Tanzania after the November 2025 elections. In addition, Putin’s aide Yuri Ushakov called Tanzania “one of the key partners on the African continent,” recalling that it is home to approximately 70 million people. Samia’s visit to Russia is a victory for Russian diplomacy in Africa, as Tanzania is one of those allies that strengthen Moscow, says Andrey Maslov, Director of the HSE Centre for African Studies. According to the expert, cooperation is based on mutual benefit, and Tanzania does not require assistance. The country is among the continent’s economic leaders, distinguished by high growth rates, a stable political system, and a friendly attitude towards Russia. Russia’s interest in Tanzania is largely due to its geographic location and access to the Indian Ocean. The port of Dar es Salaam is considered a key transport hub in East Africa, serving transit routes to the East African Community (EAC) countries, along with the Kenyan port of Mombasa. Given Tanzania’s population, the EAC’s combined market represents over 300 million people, and the potential for expanding trade lies primarily in agricultural products, fertilisers, and basic industrial goods.
Africa’s participation at the St Petersburg 29th forum is very unique, with the majority from East and Southern Africa. The Director General of the Tanzania Investment and Special Economic Zones Authority (TISEZA), Gilead J. Teri, noted that the Tanzanian delegation has a unique opportunity to advance its agenda and strengthen bilateral relations. The forum gave a powerful boost to trade and economic cooperation. Tanzania presented its investment potential to the Russian business community. Therefore, it could be said that bilateral relations between Russia and Tanzania are flourishing and developing dynamically today.
Eastern and Southern Africa’s Dimensions
While it envisages strengthening ties in a broad range of fields, targeting the Eastern and Southern regions by utilising Tanzania as the gateway, Russia shows that the key partners in that part of Africa. Russia’s attributes for raising investment relations are clear: stability, untapped resources and human capital.
Putin’s meeting with Tanzania’s Samia Hassan, aiming at lifting up bilateral cooperation, which symbolises a new qualitative stage or a new chapter in the relations between Russia, Tanzania and the entire SADC. “Africa is an important partner for Russia, a participant in the emerging and sustainable polycentric architecture of the world order. Our relations with the states of that continent are valuable in their own right and should not be subject to the fluctuations on the international arena,” Foreign Minister Sergey Lavrov also said long time ago at the Russia-Africa civil/public gathering held in 2018, in attendance was Stergomena Lawrence Tax, who headed the Southern African Development Community (SADC).
“We are aware that our African friends hold the same views. Relying on the accumulated experience of productive cooperation, Russian diplomats seek to pursue a consistent policy for deepening the range of Russia-Africa relations,” he added. Lavrov said it is necessary to maximise the potential of public, cultural and business diplomacy in the interests of strengthening and expanding the mutually beneficial ties between Russia and African states while invariably adhering to the principle of African solutions to African problems, formulated by the Africans themselves.
Stergomena Lawrence, however, observed that Russia has not been that visible in the region as compared to China, India or Brazil. But it is encouraging that Russia has made the decision to reposition itself as a major partner with Southern Africa. She expressed gratitude that Russia has launched a plan aimed at improving direct trade with the continent/region beyond the traditional sectors like mining, seeking to invest in areas like agriculture, industrial production, high technology and transport.
The Russian Federation’s priorities are also in line with SADC priorities, as evidenced by the priorities of the Foreign Economic Strategy in the region, as indicated below:
Prospecting, mining, oil, construction and mining, purchasing gas, oil, uranium, and bauxite assets (Angola, Namibia and South Africa);
Construction of power facilities—hydroelectric power plants on the River Congo (Angola, Namibia and Zambia) and nuclear power plants (South Africa);
Creating a floating nuclear power plant, and South African participation in the international project to build a nuclear enrichment centre in Russia;
Railway Construction (Angola);
Creation of Russian trade houses for the promotion and maintenance of Russian engineering products (South Africa).
Participation of Russian companies in the privatisation of industrial assets, including those created with technical assistance from the former Soviet Union (Angola).
In the Russian Federation, 10 SADC member countries have their diplomatic offices, namely: Angola, Democratic Republic of Congo, Madagascar, Mauritius, Mozambique, Namibia, South Africa, Tanzania, Zambia and Zimbabwe.
Final Words of Wisdom
In pursuit of following Putin’s policy to strengthen ties with the Global South, including Africa, Russia has to re-strategise and take up the existing critical challenges. Despite a noticeable increase in activity, Russia’s strategy on the continent faces several persistent structural limitations that require thoughtful responses. As geopolitical changes heat up, Russia has to understand the necessity to move ahead, back away from tectonic rhetoric and symbolism of diplomacy. By 2025–2026, the African continent had firmly established itself as a key area of global competition and, simultaneously, one of the most important reserves of economic growth. For Russia, this is important to change the very logic of its African ties. It is logical to walk the talk. In other words, Russia’s relations with African countries have to shift from historical rhetoric to a more practical architecture of interests.
On December 19–20, 2025, the second ministerial conference of the Russia-Africa Partnership Forum was held in Cairo, with the Roscongress Foundation acting as the operator on the Russian side. The conference was attended by the heads of the African foreign ministries and the leaders of the continent’s integration associations. That conference has been defined as a key stage in the preparations for the third Russia-Africa summit, scheduled for October 2026. As noted by Russian Foreign Ministry spokesperson Maria Zakharova, the meeting is intended to “give additional impetus to the development of the Russian-African partnership and the strengthening of its truly strategic nature.”
For Moscow, institutionalising the format is crucial given the overall transformation of global politics. And ultimately, Africa is becoming a space where external players’ ability to not only declare respect for sovereignty but also propose practical mechanisms for cooperation is being tested. Russia’s strategy is built on combining political rhetoric about multipolarity with concrete areas of cooperation—from trade to energy, and food security to personnel training and military-technical cooperation. Economic spheres and building infrastructures are important for Africa, which is ready for foreign investors with adequate funds and not just geopolitical rhetoric. It has to be noted that Africa is a space of competition between external players.
The continent is an arena of intense competition, with China, the European Union, the United States, Turkey, India, and the Gulf states all operating simultaneously, each offering its models of interaction: from large-scale infrastructure financing to military cooperation and religious and cultural influence. African states are becoming increasingly pragmatic and multi-vector—they are consistently expanding their foreign policy space, weighing the conditions, benefits, and political costs.
In such an environment, the sustainability of Russia’s presence is determined by its ability to offer a concrete and replicable set of advantages. Anti-colonial rhetoric and appeals to historical legacy remain important, but they no longer provide a long-term advantage on their own. Each competitive proposition must be backed by institutional support.
At the St. Petersburg forum, there was a genuine international community of like-minded partners practically united by a common goal: networking and developing business cooperation. “The continued participation confirms the demand for building relationships of business trust and confidence with foreign partners from different regions, including the United States, Europe, the Middle East, Latin America, Asia and Africa,” said Alexander Stuglev, Chairman of the Board and CEO of the Roscongress Foundation. The Roscongress Foundation held the 29th St Petersburg International Economic Forum (SPIEF) from 3 to 6 June 2026.
By Adedapo Adesanya
CANAL+ has expressed confidence in its ability to turn around the fortunes of struggling broadcaster MultiChoice as it marks a milestone by becoming the first French company listed on the Johannesburg Stock Exchange (JSE).
The secondary listing of CANAL+ signals strong international confidence in South Africa’s capital markets and reinforces the JSE’s role as a conduit between global capital and African growth opportunities, it said in a statement.
CANAL+ enhances the JSE’s sectoral diversity and provides local investors with direct, rand-denominated exposure to a globally diversified media and entertainment business with a significant African footprint. CANAL+ listed on the London Stock Exchange in December 2024.
The group’s listing on the JSE aligns with its long-term strategy to expand its presence in high-growth markets, particularly in sub-Saharan Africa, where rising connectivity, a young and growing population (expected to increase by 800 million by 2050), strong GDP growth (4.5 per cent growth expected between 2026 and 2030) and accelerating demand for content and connectivity continue to drive sector growth.
The JSE listing will increase CANAL+ liquidity and enable African investors to benefit from CANAL+ growth.
According to Mr Maxime Saada, CEO of CANAL+ said, “Joining the Johannesburg Stock Exchange is a statement of our ambition and illustrates our belief in Africa’s future and its creative industry.
“We are proud to become the first French company ever to list in Johannesburg and the only global media and entertainment company listed on the exchange.
“Following our listing on the London Stock Exchange 18 months ago, this dual listing reinforces our ambition to be a bridge between Europe and Africa and anchors our dual-continental approach, consolidating our unique position in the global media and entertainment industry,” he said.
He noted that CANAL+ serves more than 40 million subscribers and generates €9bn in annual revenue.
“Africa will be our growth engine for years to come, and we are dedicated to creating value on the continent and sharing it with our African partners, investors and the creative community. By welcoming African investors, we deepen our roots, diversify our investor base and lay the foundation for the next phase of our growth.”
Commenting on the listing, Ms Valdene Reddy, Group CEO of the JSE, said, “We are proud to welcome CANAL+ to the JSE and to mark the first listing of a French company on our exchange.
By Adedapo Adesanya
The President of the African Development Bank (AfDB), Mr Sidi Ould Tah, says more African countries are likely to regain or achieve investment-grade credit ratings by next year as reforms begin to deliver results and economic growth accelerates.
Several African sovereigns have already been upgraded in recent months, including Nigeria. However, Nigeria is not yet near investment-grade status.
In May, S&P Global Ratings upgraded Nigeria’s sovereign credit ratings to ‘B’ with a stable outlook, citing structural reforms under President Bola Tinubu and key drivers like higher oil production and improved fiscal revenue.
The country is still five notches from investment-grade. Under S&P’s rating scale, the progression follows— B → B+ → BB- → BB → BB+ → BBB- (investment grade).
S&P raised Morocco to investment grade last year and increased South Africa by one level to BB in November. Ghana, Zambia, the Ivory Coast and Kenya have also benefited from positive rating action linked to fiscal, debt and economic reforms.
“We’re quite confident that the continent will continue to grow very strongly and that African countries will be better rated in the coming years,” Mr Ould Tah said in an interview with Bloomberg.
“We’ve seen Morocco receive investment grade during the last few months, and we expect other countries by next year to get toward that,” he added.
The outlook reflects improving fiscal positions and reforms implemented across countries on the continent, even as the conflict in the Middle East threatens to slow economic growth and raise costs for energy-importing nations. Better credit ratings can help countries borrow at lower rates and fund development projects.
The AfDB projects the continent’s gross domestic product expansion will accelerate to 4.4 per cent next year, if the conflict in the Middle East does not extend for a longer period. It expects the continent to slow to 4.2 per cent this year.
The war in Iran has benefited oil producers such as Nigeria, Angola and Gabon, while exerting pressure on the fiscal positions of net energy importers such as South Africa, Kenya, Ghana and Senegal.
Mr Ould Tah said the bank is ready to support countries facing budget constraints and high debt burdens due to the impact of the Iran crisis, including increasing credit lines to them.
“The board of directors of the bank will examine in the coming days how the bank can increase the volume of resources it will provide to its member countries in this specific situation,” he said.
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