World
Russia Assures Equatorial Guinea Strong Trade, Economic Ties
By Kestér Kenn Klomegâh
Russian President, Mr Vladimir Putin, has held talks with the Equatorial Guinean President, Mr Teodoro Obiang Nguema Mbasogo, who was in Moscow on an official working visit.
The visit could be characterized as historic and interpreted as one major step to broadly review the political situation in the Central African region, and specifically assess the prospects for deepening bilateral cooperation between Russia and Equatorial Guinea.
As the current rotating Chairman of the Economic Community of Central African States (ECCAS), the regional economic bloc uniting Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea, Gabon, and São Tomé and Principe, Teodoro Obiang Nguema’s task, among others, is to oversee political governance and developments relating to regional integration within the seven-nation bloc.
Teodoro Obiang Nguema was at the residence Novo-Ogaryovo on November 2 as part of his scheduled trip to the Russian capital and held talks with President Putin.
According to official reports from the Kremlin’s website, the negotiations began with a tete-a-tete conversation between the leaders. Then international consultations continued in an expanded format with the participation of members of the delegations of the two countries, Russia and Equatorial Guinea.
According to Putin, Russia and Equatorial Guinea have many overlapping mutual interests. Russia’s relations with Africa are developing very intensively, as evidenced by the results of the Russia-Africa summit held in St. Petersburg.
During that summit, delegates from Equatorial Guinea held a number of serious meetings with Russian oil and gas and mining companies. But now, for Russia and Equatorial Guinea, the other priority is to focus on developing trade and economic ties.
The interest and opportunities for developing economic relations are good, as Russian companies look forward to working in Africa.
“We also talked about security issues, about relations with the countries of the region. We agreed on what and how we will do further in this area,” Putin underscored in his speech.
Taking his turn, Teodoro Obiang Nguema expressed appreciation for the invitation and further emphasized the fact that the world is facing enormous challenges in the area of international security. Obviously, Russia is a traditional and strategic partner of Equatorial Guinea and the African continent.
“And we must keep in mind that Russia contributed and fought for the liberation of African states to achieve political independence. This struggle should not be forgotten. Therefore, at the moment, especially at the UN level, when they want to take certain measures, Equatorial Guinea always votes against such proposals,” the Equatorial Guinean President told Putin.
Clearly, Africa is being heavily exploited at the moment. Africa needs to develop. More than a century has passed since Africa achieved independence, but the entire continent is still underdeveloped economically. Not because Africa cannot develop but because the natural resources are being used – are being exploited. And this hinders Africa’s development, he explained and added that, “Therefore, when Russia promises to send its businessmen to help Africa develop, we can only say: let them come. And Equatorial Guinea accepts this proposal with satisfaction.”
In addition, the Russian government has decided to reopen its embassy in Equatorial Guinea. Practical cooperation between Russia and Equatorial Guinea will then receive a fresh impetus, and facilitate the expansion of cooperation.
There are signs that Equatorial Guinea intends to expand defence cooperation with Russia. The implication is that this will lead to political development not only in Equatorial Guinea but also in Central Africa as the region faces security challenges in the Gulf of Guinea.
In addition, Africa is currently suffering from the activities of terrorists. Russia, as a key partner of Africa, must monitor the security of African countries so that they continue to fight against their weak level of development.
From experts’ analysis, Russia’s relations with Equatorial Guinea are only seeing real development now despite previously concluded agreements in various fields. For example, there have been no dynamics in trade turnover over the past 20 years, Nikita Panin, program coordinator at the Russian International Affairs Council and researcher at the Centre for African Studies at the Higher School of Economics (HSE University), told Financial Izvestia. According to him, the sides may have touched on cooperation in healthcare and education because students from Equatorial Guinea are already attending universities in Russia.
Later, the delegation had wider separate discussions. The agenda included the state and prospects of bilateral cooperation in various fields, as well as issues of developing Russia’s relations with the countries of the Central African region, taking into account Equatorial Guinea’s chairmanship of the Economic Community of Central African States (ECCA). But seemingly, Russia might not be keen on forging closer cooperation with the regional bloc as this particular organization is rather too weak compared to other subregional groups. Worse, these central African countries have sharply differing approaches to international agenda, further economic development and even disparities in the political environment.
Participants in Russian-Equatoguinean negotiations (in expanded format) were listed as follows: Teodoro Obiang Nguema Mbasogo – President of the Republic of Equatorial Guinea, Simeon Oiono Esono Angué – Minister of Foreign Affairs, International Cooperation and Diaspora Affairs of the Republic of Equatorial Guinea, and Alejandro Evuna Ovono Asangono – Minister of State for Special Assignments under the Administration of the President of the Republic of Equatorial Guinea.
Job Obiang Esono Mbengono – Minister for the Civil Service Cabinet under the Administration of the President of the Republic of Equatorial Guinea, Victoriano Bibang Nsue Okomo – Minister of National Defense of the Republic of Equatorial Guinea, Teodoro Biyogo Nsue Okomo – Assistant to the President of the Republic of Equatorial Guinea for Protocol Issues and Luciano Nkogo Ndong Ayekaba – Ambassador Extraordinary and Plenipotentiary of the Republic of Equatorial Guinea to the Russian Federation.
From the Russian side: Sergey Viktorovich Lavrov – Minister of Foreign Affairs of the Russian Federation, Alexey Logvinovich Overchuk – Deputy Prime Minister of the Russian Federation, Dmitry Sergeevich Peskov – Deputy Head of the Administration of the President of the Russian Federation, and Press Secretary of the President of the Russian Federation and Yuri Viktorovich Ushankov – Assistant to the President of the Russian Federation.
Nikolay Grigorievich Shulginov – Minister of Energy of the Russian Federation, Dmitry Evgenievich Shugaev – Director of the Federal Service for Military-Technical Cooperation, Alexander Vasilievich Fomin – Deputy Minister of Defense of the Russian Federation, Sergey Nikolaevich Gorkov – General Director of JSC Rosgeologiya and Alexander Alexandrovich Mikheev – General Director of JSC Rosoboronexport.
The two countries signed business agreements, including a declaration of intent on partnership in the field of mining. In many respects, both parties’ lengthy discussions highlighted the teething insecurity arising from political opposition and militant groups and development challenges facing countries in the region.
Russia has severally expressed concern over the growing diplomatic activity, examined possible ways to work collectively for economic development and to improve the lack of large-scale infrastructure to position the private sector as the primary engine for job creation.
At the meeting both parties identified commitment as the fundamental step along the path to the development in Equatorial Guinea, its regional integration which is essential for the economies of that zone in central Africa.
Teodoro Obiang Nguema currently heads the Economic Community of Central African States (ECCAS), a regional bloc that includes members such as Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea, Gabon, and São Tomé and Principe.
Teodoro Obiang Nguema Mbasogo is an Equatoguinean politician and former military officer who has served as the second president of Equatorial Guinea since the overthrow of his uncle on August 3, 1979, in a bloody coup d’état. He is the longest-serving president of any country ever and the second-longest consecutively-serving current non-royal national leader in the world (after Paul Biya in Cameroon).
Teodoro Obiang Nguema’s rule was at first considered more humane than that of his uncle. By some accounts, however, it has become increasingly brutal, and has bucked the larger trend toward greater democracy in Africa. According to most domestic and international observers, he leads one of the most corrupt, ethnocentric and repressive regimes in the world.
Several international groups have called for Teodoro Obiang Nguema to observe the following:
* to increase fiscal transparency and accountability by publishing all government revenues, conducting and publishing annual audits of government accounts, including those abroad, and forcing officials to declare assets.
* disclose natural resource revenues, greatly increase spending to alleviate poverty, uphold political freedoms and rights
* to allow judicial practices to meet international standards and cease harassing and hindering his critics and further to allow foreign inspectors and groups to travel freely, unhindered and unharassed.
The constitution grants Obiang sweeping powers, including the power to rule by decree. The economy of this small nation continued to struggle under President Obiang, with the country depending mostly on foreign aid to pay its bills. This changed in 1995 when Exxon-Mobil, the American oil giant, discovered oil in the country. Massive offshore discoveries over the past decade have boosted oil to about 380,000 barrels per day, ranking Equatorial Guinea behind only Nigeria and Angola among Sub-Saharan African producers.
In Equatorial Guinea, despite its natural resources, the majority of the estimated 1.5 million population wallows in abject poverty. Subsistence farming predominates, with shabby infrastructure in the country. Equatorial Guinea consists of two parts, an insular and a mainland region. Equatorial Guinea is the third-largest oil producer in sub-Saharan Africa.
World
Comviva Wins at IBSi Global FinTech Innovation Award
By Modupe Gbadeyanka
For transforming cross-border payments through its deployment with Global Money Exchange, Comviva has been named Best In-Class Cross Border Payments.
The global leader in digital transformation solutions clinched this latest accolade at the IBS Intelligence Global FinTech Innovation Award 2025.
The recognition highlights how Comviva’s mobiquity Pay is helping shape a modern cross-border payment ecosystem that stretches far beyond conventional remittance services.
Deployed as a white label Wallet Platform and launched as Global Pay Oman App, it fulfils GMEC’s dual vision—positioning itself as an innovative payment service provider while digitally extending its core money transfer business.
The solution allows GMEC to offer international money transfers alongside seamless forex ordering and other services. These capabilities sit alongside a broad suite of everyday financial services, including bill and utility payments, merchant transactions, education-related payments, and other digital conveniences — all delivered through one unified experience.
“This award is a testament to Oman’s accelerating digital transformation and our commitment to reshaping how cross-border payments serve people and businesses across the Sultanate.
“By partnering with Comviva and bringing the Global Pay Oman Super App, we have moved beyond traditional remittance services to create a truly inclusive and future-ready financial ecosystem.
“This innovation is not only enhancing convenience and transparency for our customers but is also supporting Oman’s broader vision of building a digitally empowered economy,” the Managing Director at Global Money Exchange, Subromoniyan K.S, said.
Also commenting, the chief executive of Comviva, Mr Rajesh Chandiramani, said, “Cross-border payments are becoming a daily necessity, not a niche service, particularly for migrant and trade-linked economies.
“This recognition from IBS Intelligence validates our focus on building payment platforms that combine global reach with local relevance, operational resilience and a strong user experience. The deployment with Global Money Exchange Co. demonstrates how mobiquity® Pay enables financial institutions to move beyond remittances and deliver integrated digital services at scale.”
“The deployment of mobiquity Pay for GMEC showcases how scalable, API-driven digital wallet platforms can transform cross-border payments into seamless, value-rich experiences.
“By integrating remittances, bill payments, forex services, and AI-powered engagement into a unified Super App, Comviva has reimagined customer journeys and operational agility.
“This Best-in-Class Cross-border Payments award win stands as a testament to Comviva’s excellence in enabling financial institutions to compete and grow in a digitally convergent world,” the Director for Research and Digital Properties at IBS Intelligence, Nikhil Gokhale, said.
World
Russia Renews Africa’s Strategic Action Plan
By Kestér Kenn Klomegâh
At the end of an extensive consultation with African foreign ministers, Russian Foreign Minister, Sergey Lavrov, has emphasized that Moscow would advance its economic engagement across Africa, admittedly outlining obstacles delaying the prompt implementation of several initiatives set forth in Strategic Action Plan (2023-2026) approved in St. Petersburg during the Russia-Africa Summit.
The second Ministerial Conference, by the Russian Foreign Ministry with support from Roscongress Foundation and the Arab Republic of Egypt, marked an important milestone towards raising bilateral investment and economic cooperation.
In Cairo, the capital city of the Arab Republic of Egypt, Lavrov read out the final resolution script, in a full-packed conference hall, and voiced strong confidence that Moscow would achieve its strategic economic goals with Africa, with support from the African Union (AU) and other Regional Economic blocs in the subsequent years. Despite the complexities posed by the Russia-Ukraine crisis, combined with geopolitical conditions inside the African continent, Moscow however reiterated its position to take serious steps in finding pragmatic prospects for mutual cooperation and improve multifaceted relations with Africa, distinctively in the different sectors: in trade, economic and investment spheres, education and culture, humanitarian and other promising areas.
The main event was the plenary session co-chaired by Russian Foreign Minister Sergey Lavrov and Egyptian Minister of Foreign Affairs, Emigration, and Egyptians Abroad Bashar Abdelathi. Welcome messages from Russian President Vladimir Putin and Egyptian President Abdelhak Sisi were read.
And broadly, the meeting participants compared notes on the most pressing issues on the international and Russian-African agendas, with a focus on the full implementation of the Russia-Africa Partnership Forum Action Plan for 2023-2026, approved at the second Russia-Africa Summit in St. Petersburg in 2023.
In addition, on the sidelines of the conference, Lavrov held talks with his African counterparts, and a number of bilateral documents were signed. A thematic event was held with the participation of Russian and African relevant agencies and organizations, aimed at unlocking the potential of trilateral Russia-Egypt-Africa cooperation in trade, economic, and educational spheres.
With changing times, Africa is rapidly becoming one of the key centers of a multipolar world order. It is experiencing a second awakening. Following their long-ago political independence, African countries are increasingly insisting on respect for their sovereignty and their right to independently manage their resources and destiny. Based on these conditions, it was concluded that Moscow begins an effective and comprehensive work on preparing a new three-year Cooperation and Joint Action Plan between Russia and Africa.
Moreover, these important areas of joint practical work are already detailed in the Joint Statement, which was unanimously approved and will serve as an important guideline for future work. According to reports, the Joint Statement reflects the progress of discussions on international and regional issues, as well as matters of global significance.
Following the conference, the Joint Statement adopted reflects shared approaches to addressing challenges and a mutual commitment to strengthening multifaceted cooperation with a view to ensuring high-quality preparation for the third Russia-Africa Summit in 2026.
On December 19-20, the Second Ministerial Conference of the Russia-Africa Partnership Forum was held in Cairo, Egypt. It was held for the first time on the African continent, attended by heads and representatives of the foreign policy ministries of 52 African states and the executive bodies of eight regional integration associations.
World
TikTok Signs Deal to Avoid US Ban
By Adedapo Adesanya
Social media platform, TikTok’s Chinese owner ByteDance has signed binding agreements with United States and global investors to operate its business in America.
Half of the joint venture will be owned by a group of investors, including Oracle, Silver Lake and the Emirati investment firm MGX, according to a memo sent by chief executive, Mr Shou Zi Chew.
The deal, which is set to close on January 22, 2026 would end years of efforts by the US government to force ByteDance to sell its US operations over national security concerns.
It is in line with a deal unveiled in September, when US President Donald Trump delayed the enforcement of a law that would ban the app unless it was sold.
In the memo, TikTok said the deal will enable “over 170 million Americans to continue discovering a world of endless possibilities as part of a vital global community”.
Under the agreement, ByteDance will retain 19.9 per cent of the business, while Oracle, Silver Lake and Abu Dhabi-based MGX will hold 15 per cent each.
Another 30.1 per cent will be held by affiliates of existing ByteDance investors, according to the memo.
The White House previously said that Oracle, which was co-founded by President Trump’s supporter Larry Ellison, will license TikTok’s recommendation algorithm as part of the deal.
The deal comes after a series of delays.
Business Post reported in April 2024 that the administration of President Joe Biden passed a law to ban the app over national security concerns, unless it was sold.
The law was set to go into effect on January 20, 2025 but was pushed back multiple times by President Trump, while his administration worked out a deal to transfer ownership.
President Trump said in September that he had spoken on the phone to China’s President Xi Jinping, who he said had given the deal the go ahead.
The platform’s future remained unclear after the leaders met face to face in October.
The app’s fate was clouded by ongoing tensions between the two nations on trade and other matters.
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