World
Russia and Africa Yet to Break Multitude of Business Barriers
By Kestér Kenn Klomegâh
The scramble for the entrepreneurial influence and control of the African continental landscape by global players is a geopolitical reality. To be part of this geopolitical arena, foreign corporate business players have been devising different approaches and pathways for revitalizing investment partnerships and strengthening cooperation with potential African partners, says Louis Gouend, founder of Hello Africa and founding Executive Director of the African Business Club.
In this interview taken by Kestér Kenn Klomegâh late May 2024, Louis Gouend gives useful insights into the dynamics of why Russia and Africa ultimately have to forge an engagement in business and economic sectors, to expand cooperation in both regions and further highlights the existing challenges facing the evolving entrepreneurial initiatives in Russia and Africa.
Here are the interview excerpts.
How would you characterize the level of business cooperation between Russia and Africa?
In recent years, business relations between Russia and Africa have acquired new dynamics. Russia is actively seeking opportunities to strengthen economic ties outside traditional Western markets, and Africa is attractive as a region experiencing rapid economic growth and rich natural resources. In this case, special attention is paid to sectors such as energy, mining, agriculture and educational projects. Russian companies are actively investing in mineral resource development projects, and are also entering the agricultural sector of some African countries.
ln your expert point of view, what are the basic challenges that currently confront businesses on both sides?
There are several key difficulties that complicate business interaction between Russia and Africa. These are, first of all, differences in business culture and legal regulation, which complicate the process of doing business. Logistics challenges, including the difficulty of transporting goods over long distances and across multiple borders, also pose additional obstacles. The bureaucracy can be sluggish, and corruption in some African countries makes the situation worse.
Another barrier is a lack of knowledge. On one hand, Russian companies lack knowledge of the environment and available high-quality analytical materials about the African market, its specifics and risks. On the other hand, African entrepreneurs and consumers have virtually no knowledge about Russian products and corporate business services. The main problem now is not funding, but the lack of sufficient knowledge and contacts. One of the options for resolving this issue is to increase Russian business missions to Africa, which will help promote Russian goods and technologies on the African market. And vice versa, in terms of bilateral cooperation.
Another factor limiting exports to Africa is the lack of special investment agreements and lack of regulation in this direction. When we talk about investment activity, the question arises about the lack of investment protection agreements. Their absence prevents Russian companies from insuring investments, which prevents them from exporting to Africa.
Our club members are mainly representatives of various African diaspora who live or studied in Russia and have been operating businesses in Russia or Africa. They know the mentality and culture of both sides, and they have strong ties with both sides, allowing them to be reliable bridges between Africa and Russia.
We work with African chambers of commerce, embassies, diaspora representatives, as well as other regional associations and export companies. Stakeholders include large and small businesses from Russia and Africa, various industry associations, government agencies and diplomatic missions. To improve business cooperation, the club plans to develop knowledge exchange programs, conduct business forums and master classes, and create special working groups to discuss specific issues and problems.
Why did the creation of an African Business Club (ABC) become necessary only now and what are its main goals?
The growth of economic activity and the increase in the number of bilateral projects between Russia and Africa required the creation of a platform to facilitate these interactions. The African Business Club aims to be a platform where entrepreneurs can share knowledge, network, explore new opportunities and solve emerging problems together. The club’s main goals include strengthening trade relations, and stimulating investment and technological exchange.
Our clients value us because, first of all, we help adapt the work of a foreign company to Russian realities, organize and debug many business processes within various aspects and support the foreign company as a reliable partner. Companies planning to invest in African economies will need strong ties to the African government and partnerships with local businesses. How to contact the right people? We are ready to help with this issue.
We offer advisory services to small, medium and global companies that want to invest in the African continent. Thus, we promote entrepreneurship and help create new trade ties between Russia and Africa. We attract potential investors interested in financing projects in the African private sector. We create online access to market research resources and relevant business contacts in Africa. We publish position papers covering issues related to trade with Africa, investment, regulation, policy and industry content.
The number of Russian companies wishing to enter the African market is growing regularly, and this confirms our intentions to promote the development of bilateral economic relations. On the other hand, we can note an increase in the number of African companies wishing to develop close cooperation with their Russian partners.
We offer a wide range of services for Russian companies entering the African market. This includes market research, selection of partner companies, assistance in organizing a business, and personnel search, including offers for Russian citizens to work in African companies.
Who are your current stakeholders and members? And how do you plan to develop a common approach to increasing the level of business cooperation between the two regions?
Our club members are mainly representatives of various African diaspora who live or studied in Russia and have operating businesses in Russia or Africa. They know the mentality and culture of both sides, and they have strong ties with both sides, allowing them to be a reliable bridge between Africa and Russia.
We work with African chambers of commerce, embassies, diaspora representatives, as well as other regional associations and export companies.
Stakeholders include large and small businesses from Russia and Africa, various industry associations, government agencies and diplomatic missions. To improve business cooperation, the club plans to develop knowledge exchange programs, conduct business forums and master classes, and create special working groups to discuss specific issues and problems.
Why is the presence of African business in the Russian Federation extremely low?
A combination of bureaucratic barriers, lack of awareness of the economic environment and opportunities, complex legal and regulatory frameworks, and relatively high market entry costs deter African companies from actively doing business in Russia.
What complimentary roles can African diplomatic missions and business associations play here?
The club has already been negotiating to simplify procedures for African investors and exporters, and assisting in the creation of reliable and effective communication channels between African companies and Russian regulators. As a two-way street, African diplomatic missions can also act as a bridge, helping to overcome cultural and administrative barriers, and actively participate in the club’s activities, supporting its multifaceted initiatives at various levels.
By Kestér Kenn Klomegâh
For the first time in its history, the World Public Summit will be held on the African continent. On 29–30 July 2026, Addis Ababa, the capital of Ethiopia, will host the World Public Summit. Africa — “A New World: Africa in Shaping a Shared Future.”
The Summit is organised by the World Peoples Assembly in cooperation with African partner organisations. It will bring together leaders of public diplomacy, representatives of international intergovernmental and non-governmental organisations, academics, experts, representatives of the education and cultural sectors, youth leaders, socially responsible businesses, media professionals, and civil society institutions from across Africa and other regions of the world.
The World Public Summit. Africa continues the work initiated during the First World Public Assembly “A New World of Conscious Unity,” held in Moscow in September 2025, and serves as one of the key milestones in preparation for the Second World Public Assembly “A New World: Values That Unite,” which will take place in Moscow on 18–19 September 2026.
Today, Africa is emerging as one of the principal centres of global development. Rapid demographic growth, expanding entrepreneurship, strengthening regional integration, rich cultural heritage, and the growing role of civil society institutions make the continent an increasingly important contributor to the future architecture of international cooperation.
The Summit will focus on issues of genuine sovereignty and sustainable development, public diplomacy, preservation of cultural and historical heritage, international cooperation in education and science, youth engagement, innovation-driven development, creative industries, and the formation of new partnerships among countries and peoples.
The main business programme of the Summit will take place on 30 July 2026 at the headquarters of the United Nations Economic Commission for Africa (UNECA) in Addis Ababa. Holding the Summit at UNECA highlights its pan-African dimension and creates opportunities for broad international dialogue on humanitarian cooperation and public diplomacy.
The programme will include plenary sessions, strategic dialogues, and expert panels dedicated to values-based development, education, culture, youth leadership, innovation, and international cooperation.
Participation has already been confirmed by Professor Saidou Madougou, Director of the Department of Education, Science, Technology and Innovation of the African Union; Rita Bissoonauth, Director of the UNESCO Liaison Office to the African Union and UNECA in Addis Ababa; Zuzana Schwidrowski, Director of the Macroeconomics, Finance and Governance Division of UNECA, as well as ministers, leaders of public organisations, and representatives of the business community from a number of African countries.
On the same day, the ADWA Victory Memorial Museum—Ethiopia’s national memorial complex dedicated to the Victory of Adwa and an important centre for preserving the historical memory of the Ethiopian people—will host the award ceremony of the regional stage of the V International Competition “Leader of Public Diplomacy”, followed by a large-scale cultural programme.
One of the key outcomes of the Summit will be the adoption of the African Communiqué, reflecting proposals and recommendations aimed at strengthening humanitarian, educational, cultural, and public cooperation between African countries and other regions of the world.
The outcomes, initiatives, and recommendations were developed during the World Public Summit. Africa will be presented at the Second World Public Assembly “A New World: Values That Unite”, to be held in Moscow on 18–19 September 2026.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Addis Ababa Summit is an important step toward building a new world founded on mutual respect, cultural diversity, dialogue and sustainable development.”
By Adedapo Adesanya
The United Kingdom will get its seventh Prime Minister in 10 years as Mr Keir Starmer announced his resignation on Monday.
The Minister said he is stepping down as leader of the governing Labour Party and will leave office within weeks, scarcely two years after being elected in a landslide.
Mr Starmer says he will remain caretaker prime minister until a new Labour leader is chosen by the party.
Mr Starmer made the announcement after facing growing pressure to hand over to a new leader who can try to revive the government’s flagging fortunes.
He led Labour to a landslide election victory in July 2024, but since then, his popularity and that of the party have plummeted.
His departure was triggered by the victory of Mr Andy Burnham in a special election last week. The popular ex-mayor of Greater Manchester planned to challenge the existing PM for the Labour leadership.
Mr Starmer made the announcement outside the prime minister’s 10 Downing St. residence with a brief statement on Monday.
“The question my party is asking now is whether I am best placed to lead us into the next general election,” Mr Starmer said. “I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.
Mr Starmer is the sixth prime minister in a decade to stand outside 10 Downing Street and announce a premature departure.
It comes the day before Britain marks the 10th anniversary of its vote to leave the European Union, a decision that still affects the country’s economy and politics.
Over the past decade, 10 Downing Street has had six occupants, including Mr David Cameron, who left office in 2016 after the Brexit referendum and was succeeded by Ms Theresa May. She was followed by Mr Boris Johnson, whose tenure covered Brexit and the COVID-19 pandemic. After Mr Johnson came Ms Liz Truss, whose 49-day premiership was the shortest in British history. Mr Rishi Sunak then took office before being succeeded by Mr Starmer, the outgoing occupant of Number 10.
By Aduragbemi Omiyale
A financing facility of up to $60 million has been secured by AXIAN Energy, the energy division of the AXIAN Group.
The funding package was provided by MCB, one of the leading financial institutions in the Indian Ocean region.
It comprises a $40 million revolving credit facility with a three-year tenor and extension option, and $20 million in unfunded instruments, providing AXIAN Energy with enhanced financial flexibility, enabling the company to rapidly mobilise resources and seize development opportunities across its target markets.
The energy firm is expected to use the capital to deliver large-scale energy infrastructure projects across Africa.
Over the past two years, AXIAN Energy has significantly accelerated its growth by expanding its renewable energy project pipeline, with solar projects currently under development in Senegal, Benin, Zambia, Côte d’Ivoire, Madagascar, and Burkina Faso.
Building on this momentum, AXIAN Energy now operates a portfolio comprising 350 MW of installed renewable energy capacity, supported by 77 MWh of energy storage capacity, positioning the AXIAN Group as a major contributor to Africa’s energy transition.
The chief executive of AXIAN Energy, Mr Benjamin Memmi, said, “This transaction marks a key milestone in AXIAN Energy’s growth trajectory. It provides us with the financial capacity to sustain the momentum we have built over the past two years, further strengthening our renewable energy portfolio and expanding our presence across new African markets.”
Also commenting, the Global Head of Structured Finance at MCB, Mr Mathieu Delteil, said, “We are proud to support AXIAN Energy in structuring this facility, reaffirming our commitment to enabling transformative projects across Africa.
“By leveraging our sector expertise and deep understanding of regional markets, we have delivered a tailored financing solution that aligns with AXIAN’s long-term renewable energy ambitions.
“This partnership highlights our role as a strategic financial partner, mobilising capital towards investments that drive sustainable growth and accelerate the energy transition across the continent.”
The financing agreement between the two organisations strengthens their long-standing relationship because it is driven by a shared commitment to supporting infrastructure development and economic growth across Africa.
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