World
Russia – Dating and Promising Africa
By Kester Kenn Klomegah
Russia has a long time-tested relationship with Africa. After the first symbolic Russia-Africa summit in the Black Sea city of Sochi on October 23-24, 2019 both Russia and Africa adopted a joint declaration, a comprehensive document that outlines the key objectives and necessary tasks that seek to raise assertively the entire relations to a new qualitative level.
In order to realize this, it requires a complete understanding of the tasks and the emerging challenges, identifies necessary support for new initiatives and, as always reiterated, commitment to dynamic work with Africa.
According to official documents, there has been a great interest in the further development of relations, and in deepening and intensifying Russian-Africa cooperation. Priority areas of economic cooperation in which concrete results could be achieved in the coming years were outlined.
The main areas identified were energy, included among others, renewables, infrastructure development and especially railway and housing construction, modern and high-tech extraction and processing of mineral resources, agriculture, digital technologies, oil and gas exploration, medicine, science and education.
Acknowledging that six of the ten fastest-growing economies in the world today are in Africa, and that presents an attractive condition for foreign investment, over 170 Russian companies and organizations submitted a total of 280 proposals to do projects and business in Africa.
Reports further show that 92 agreements, contracts and memoranda of understanding were signed at the Russia-Africa Summit and Economic Forum. Agreements worth a total of RUB 1.004 trillion ($12.5 billion).
Far before the summit, at least, during the past decade (2010-2020), several bilateral agreements were also signed. There have been several meetings of various bilateral intergovernmental commissions both in Moscow and in Africa.
Besides all that, pledges and promises consistently dominated official speeches – an approach primarily aims at signalling and further sustaining hope of leveraging to Africa.
Of great importance is that over the past few years, considerable steps taken in strengthening relations with the majority of African countries.
But now, as Russia prepares for the second African leaders’ summit 2022 in Addis Ababa, many policy experts are questioning agreements that were signed—many of them largely unfulfilled and some already forgotten—at least during the past years with African countries.
Experts, such as Professors Vladimir Shubin and Alexandra Arkhangelskaya from the Institute for African Studies in Moscow, have argued that Russia needs to deliver on its previous several pledges made to Africa countries.
“The most significant positive sign is that Russia has moved away from its low-key strategy to vigorous relations, and authorities are seriously showing readiness to compete with other foreign players.
Russia needs to find a strategy that really reflects the practical interests of Russian business,” said Arkhangelskaya, who is a Senior Lecturer at the Moscow High School of Economics and a researcher at the Institute for African Studies.
Currently, the signs for Russian-Africa relations are impressive. Declarations of intentions have been made; several important bilateral agreements have been signed. Now it remains to be seen how these intentions and agreements will be implemented in practice, she pointed out in an interview with InDepthNews.
The revival of Russian-African relations has to be enhanced in all fields. Obstacles to the broadening of Russian-Africa relations have to be addressed more vigorously. These include, in particular, the lack of knowledge or information in Russia about the situation in Africa, and vice versa, suggested Arkhangelskaya, adding the last Sochi summit has significantly rollout ways to increase the effectiveness of cooperation between Russia and Africa.
Ahead of the upcoming second Russia-Africa summit, the Coordination Council was established under the aegis of the Secretariat of the Russia-Africa Partnership Forum (RAPF), which is overseeing the organizational and practical preparations of future summits, has held its third meeting in the format of a videoconference. During the meeting, participants discussed preparations for the forthcoming second Russia-Africa summit, its concept, targets and a list of events.
The Council members deliberated the status of preparatory works and plans for the near future and significant issues necessary for enhancing the entire relations between Russia and Africa. They also discussed mechanisms to improve existing and planned projects as well as developing road maps for cooperation. The meeting approved the draft concept as well as the organizational and financial scheme for the second Russia-Africa summit.
Vsevolod Tkachenko, the Director of the Africa Department of the Russian Foreign Ministry, stated that “African partners expect concrete deeds, maximum substantive ideas and useful proposals.” The current task is to demonstrate results and highlight achievements to the African side. Over the past years, African countries have witnessed many bilateral agreements, memoranda of understanding and pledges.
Since the basis of the summit remains the economic interaction between Russia and Africa, “the ideas currently being worked out on new possible instruments to encourage Russian exports to Africa, Russian investments to the continent, such as a fund to support direct investment in Africa, all these deserve special attention,” Tkachenko says.
According to Oleg Ozerov, Head of the Secretariat of the Russia-Africa Partnership Forum (RAPF), African partners emphasize the importance of Russia’s participation in agriculture, major infrastructure development projects, energy development, mining and digitalization.
Early June 2021, a Russia-Africa dialogue aimed at business networking and intensifying policy discussions were also held on the sidelines of the St. Petersburg International Economic Forum (SPIEF). Discussions centred on identifying pathways, the necessary groundworks for addressing Russia’s weak economic presence in Africa.
Participants called for effective steps to support Russian business in Africa. Russian companies are known to be keen on exploring opportunities in Africa, but very slow in implementing agreements and, as a result, has few concrete results.
Alexander Saltanov, former Deputy Foreign Affairs Minister and now Chairman of the Association of Economic Cooperation with African States (AECAS) acknowledged that African countries no longer know as much about Russia as they did about its predecessor, Soviet Union.
Notwithstanding the setbacks down these years, Saltanov is currently working on a common information space project between Russia and Africa scheduled for October.
When talking about bilateral ties, the most common complaints are inadequate to support systems – both from the state and financial institutions.
Russian NGOs are also pushing for a diverse set of initiatives aimed at enhancing ties. The Coordination Committee for Economic Cooperation with African countries, a business and policy NGO, established as far back as 2009, proposes that funds be availed to support Russian business and investment in Africa.
Senator Igor Morozov, Member of the Committee for Economy Policy of the Federation Council (Senate) and Chairman of the Coordination Committee on Economic Cooperation with Africa observes that conditions that are opening up for Russian business today are not the same as those for businessmen from France, the European Union, India or China. Senator Morozov has therefore called for improving Russia’s competitive edge and taking advantage of the African Continental Free Trade Area (AfCFTA).
The search for effective financing of projects and business is still ongoing, according to official reports. “There is a lot of demanding work ahead, and perhaps, there is a need to pay attention to the experience of China, which provides its enterprises with state guarantees and subsidies, thus ensuring the ability of companies to work on a systematic and long-term basis,” Foreign Minister Sergey Lavrov said during a meeting of the Ministry’s Collegium.
In addition, Lavrov further suggested taking a chapter on the approach and methods adopted by China in Africa, and that was back in 2019. Russia could consider the Chinese model of financing various infrastructure and construction projects in Africa.
It was only in July 2021, that the Association of Economic Cooperation with the African States (AECAS) held the first meeting of the working group to discuss ways for adopting a suitable mechanism of financial support for Russian business and projects in Africa.
That meeting was a marketplace of tremendous ideas. Business leaders discussed the lack of credit lines and guarantees as barriers, and the next problem relates to poor knowledge of the business environment as it poses a challenge. On the other hand, Russian businesses are unprepared to invest in R&D a first preliminary step towards economic engagement with Africa.
Nikita Gusakov, Head of the Russian Export Credit and Investment Insurance Agency (EXIAR), reiterated that Africa was a priority for the agency, outlining a number of deals that EXIAR has been involved in on the continent.
“We have the desire and the capacity to finance projects in Africa. In our experience, there are two problems that need to be addressed: the low level of project planning by Russian companies wishing to enter the African market, and the lack of awareness among Russian companies of the opportunities available on the African market,” Gusakov told the special meeting on project finance held in July.
The 2019 Sochi summit was held under the theme ‘Russia and Africa: Uncovering the Potential for Cooperation and was co-chaired by President of the Russian Federation Vladimir Putin and President of the Arab Republic of Egypt Abdel Fattah Al-Sisi. During the past two decades, a number of foreign countries notably China, the United States, the European Union, India, France, Turkey, Japan, and South Korea have held such gatherings in that format with Africa.
World
Africa Takes Centre Stage as Addis Ababa Hosts the World Public Summit
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.”
World
UK Set for Seventh Prime Minister in 10 Years as Keir Starmer Resigns
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.
World
AXIAN Energy Secures $60m for Expansion Across Africa
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn


