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.
By Aduragbemi Omiyale
Accessing the US Dollar in the East Africa region has now been made easier with the expansion of the stablecoin settlement infrastructure of SCRYPT.
This development enables banks, payment providers and corporate treasury teams to move value into and out of the continent in real time.
Businesses paying international suppliers frequently have to convert local currency into USD before purchasing stablecoins for settlement, incurring FX conversions and spreads before any payment is made.
But SCRYPT is eliminating this intermediate conversion by enabling direct settlement corridors for local African currencies into stablecoins.
This development allows businesses to move from local currency to stablecoin settlement in a single licensed transaction, without first sourcing rationed bank dollars, as stablecoins are increasingly becoming settlement infrastructure rather than an investment product.
The expansion adds settlement support across four African currencies: the Kenyan shilling (KES), Tanzanian shilling (TZS), Rwandan franc (RWF) and Ugandan shilling (UGX). Each corridor is delivered through the same full-stack infrastructure our clients already use for trading, custody and treasury operations.
Speaking on this, the chief executive of SCRYPT, Norman Wooding, said, “Across Africa, stablecoin adoption is driven by economic need, not speculation.
“Businesses here are not chasing yield; they are trying to pay suppliers and manage treasury without losing margin to a banking system that rations dollars. Licensed, fair-rate dollar access is the clearest proof of what this infrastructure is for.”
Also commenting, the Managing Director of Markets & Trading at SCRYPT, Mr Gabriel Titopoulos, said, “Until now, reaching stablecoins from local African currencies meant buying scarce dollars and incurring several layers of conversion costs.
“SCRYPT removes this friction. Firms and payment providers can now settle straight from local currencies through live corridors, with local partners.”
World
African Graduates Association Promoting Multifaceted Initiatives With Russian Educational Institutions
By Kestér Kenn Klomegâh
In preparations for the third Russia-Africa Summit, scheduled for late October 2026, Dr Francois Ngan, deputy chairman of the Union of Associations of African Graduates of Soviet and Russian Universities, during an official working visit, has held a consultative meeting with Professor Vladimir Filippov, the President of the Russian University of Peoples’ Friendship (RUDN), and former Minister of Higher Education of Russia, Chairman of the National Commission for Accreditation of Higher Education.
RUDN is an educational institution established in 1960, primarily to provide higher education to Third World students. It has now become a popular multidisciplinary spot for many students, especially from developing countries. The university offers various academic programmes and has research infrastructure that comprises laboratories and interdisciplinary centres. The university is named after the former Congolese leader, Patrice Lumumba.
Dr Francois Ngan and Professor Filippov discussed the importance of the Graduates Association as a continental platform dedicated to strengthening unity, cooperation, and promoting shared progress among African graduates who studied in the former Soviet Union and in the Russian Federation. They also reviewed multifaceted initiatives that could bring together alumni associations from across Africa, whose members obtained education and professional training, and cultural experiences in Soviet and Russian institutions of higher learning.
Professor Filippov expressed optimism in addressing emerging challenges as a result of shifting geopolitical changes, emphasised strategic cooperation in the educational sphere with Africa, in general, and with the Republic of Cameroon, in particular, and further about the integration of African students during their studies in the Russian Federation.
The meeting also touched on academic and scientific work, the possibility of rewriting a scientific thesis, and the official organisation of transferring versions translated into six languages for the library of RUDN. Significant questions relating to Russia’s educational opportunities, collaborations and partnerships involving African countries were thoroughly discussed.
The Union of Associations of African Graduates of Soviet and Russian Universities was created under one continental umbrella to promote friendship, for professional networking, to engage in cultural exchange, and with particular emphasis on forging strategic cooperation between Africa and Russia.
World
Russia to Support Industrial Growth, Technological Advancement and Supply Chain Resilience across Africa
By Kestér Kenn Klomegâh
With the heightening of geopolitical rivalry and competition, a new Russia-Africa working group has emerged as a significant institutional mechanism and plans to focus on facilitating and monitoring strategic investments, industrialisation, and infrastructural development—the Strategic Action Plan 2023-2026—that was outlined during the second Russia-Africa summit, in St.Petersburg, the second largest city in the Russian Federation.
While substantial progress has, largely, lagged on the multidimensional economic front with Africa primarily due to its internal difficulties and the complexity of relations with its former Soviet neighbours, Russian officials believe there still remains huge untapped potential in strengthening bilateral cooperation. As planned, President Vladimir Putin has already signed an executive order that directs Moscow to host the forthcoming third Russia-Africa summit in October 2026.
On June 30, a regular meeting of the Business Council on Africa was held under the chairmanship of the head of the Russian Foreign Ministry. It was dedicated to issues of trade, economic and investment cooperation with Africa. The group discussed the current state and prospects for the implementation of policy initiatives with an emphasis on assisting the countries of the continent, strengthening their economic, energy, technological and food sovereignty, as well as training specialists for Africa.
Foreign Minister Sergey Lavrov has reiterated that Russia-Africa relations primarily depend on an understanding of the importance of collective action based on the principles of equality, mutual respect and resolving common tasks. In the past few years, Russia-Africa cooperation has been noticeably strengthening. “We are deepening political dialogues, developing bilateral contacts with African countries, promoting cordial cooperation between ministries and departments, and expanding humanitarian exchanges. We are also continuing the structural diversification of trade partnerships and economic dimensions.”
“Next on the agenda is the launch of diplomatic missions in The Gambia, Liberia, Togo, and the Union of the Comoros,” Lavrov said at a meeting of the Business Council under the Russian foreign minister. Lavrov noted that Russian embassies began operating in three other African countries in 2025: Niger, Sierra Leone, and South Sudan. A new Department for Partnership with Africa was also established. According to the top diplomat, “expanding Russia’s diplomatic presence on the continent contributes to developing relations.”
There are already 45 Russian embassies operating in Africa. The Russian foreign minister noted that Moscow is quickly rebuilding its presence in African countries, which sharply declined during the collapse of the Soviet Union. “There will be literally four or five countries left where we still need to establish full-fledged embassies, and then, we will have 100 per cent coverage of the entire African continent with our diplomatic presence,” Lavrov emphasised.
After the first summit in October 2019, the Foreign Ministry also created the Secretariat of the Russia-Africa Partnership Forum. Its main tasks include controlling the roadmap to Africa’s multidimensional cooperation and guiding potential Russian investors to the continent. This also underscored the priority and post-Soviet solidarity Russia currently attaches to its policy towards Africa, within the growing framework of the emerging new architecture of multipolarity in the Global South.
In an interview in June 2026, the director of the Department of Partnership with Africa at the Foreign Ministry, Tatyana Dovgalenko, shared a few insights in the lead-up to the third summit. Furthermore, Dovgalenko explained that Russia would move away from security to concentrate more on economic issues, especially to team up with African colleagues to streamline mechanisms for implementing projects that will ensure food security and agriculture, and help Africa in installing processing facilities to support its self-sufficiency. She also emphasised energy and vital infrastructures, and the third direction was to simultaneously work more coherently with sub-regional organisations.
Over the past few years, bilateral relations have been increasing. There are positive dynamics in trade turnover, estimated at $30 billion. Steps are being taken to build payment systems, preferably in national currencies, while Russia looks to open four more diplomatic offices, bringing the total to 48 across Africa. Russia is currently training 37,000 African students, but only approximately 1/3 on state scholarships in Russia’s educational institutions. “We are ready to share valuable experiences of building a sovereign development model with African partners to achieve self-reliant economic growth based on their own resources and capabilities. Russia aims at creating processing capabilities and localising production, and provides access to advanced technological solutions,” underlined Dovgalenko in her interview with New Eastern Outlook.
For African countries that have endured difficult decades on the path to political independence, it is now important to take full control over the untapped resources, direct income and revenue toward stimulating the national economic sector, rather than paying for the well-being of the Western “golden billion” during this changing geopolitical era, according to Dovgalenko.
According to reports, the forthcoming Russia-Africa summit will have an economic agenda, including the digital economy, technology, artificial intelligence, healthcare, investment, and settlements in global trade. Of course, the agenda will also cover Africa’s political aspects. But if African friends bring along any specific ideas, Russia will give them serious attention. In addition, with continuity and consistency, pay increased attention to expanding ties with Africa’s regional integration associations.
Going forward, the focus will be on translating strong trade relations into deeper investment partnerships, fostering technology collaboration, strengthening industrial linkages and contributing towards the shared objectives set by the leadership of both African countries and Russia. At the third summit, the above-mentioned specific initiatives will be further designed. In this regard, the key document, the new action plan for the next three-year period (2027-2029), is intended to reflect dynamic realities in the future relations of Russia and Africa
