World
Russia Making Further Inroads into Zimbabwe
By Kester Kenn Klomegah
Russia maintains very friendly relations with Zimbabwe, thanks to ties which evolved during the struggle for independence. Since then, it has had a very strong mutual sympathy with and friendly feelings toward the southern African people, government and country.
One of the fora in which relations between the two countries are discussed is the Russia-Zimbabwe Intergovernmental Commission on Economic, Trade and Science and Technical Cooperation.
Following its recent meeting in Moscow in August, IDN’s Kester Kenn Klomegah conducted an exclusive interview with Brigadier General Mike Nicholas Sango, Zimbabwean Ambassador to the Russian Federation, to gauge the current climate of relations. The following are excerpts from the interview.
What were the key results of the 3rd meeting of the Joint Russia-Zimbabwean Economic Commission held in Moscow?
The primary objective of the Russia-Zimbabwean Joint Commission is to promote and strengthen existing bilateral relations. Cooperation in the areas of diplomacy, economic, social, educational and scientific fields are key in promoting bilateral relations.
During the 3rd session, the Commission reviewed progress in the areas of mining and was satisfied with progress on the joint Russian-Zimbabwean Darwendale platinum deposit development project being implemented by Great Dyke Investments and steps being undertaken by the Russian ALROSA group in developing the diamond industry in cooperation with the Zimbabwe Mining Development Corporation (ZMDC).
The Commission also noted with satisfaction the contribution by the Russian Federation in skills development of Zimbabwean personnel through Russian government scholarships to study in Russian institutions of higher learning.
The Commission was happy with the support offered by the Russian government in training of personnel in the defence and security sectors.
Cooperation in the areas of agriculture and energy was highlighted and a number of projects to be undertaken by Russian companies in Zimbabwe were discussed. Procedures to be met by potential investors were presented.
Your Minister for Foreign Affairs and International Trade, Sibusiso Moyo, participated in the meeting. What proposals were presented to the Russian side and what sectors or corporate projects included in the discussions?
Minister Sibusiso Moyo expressed his satisfaction with interest expressed by Russian companies in investing in agriculture, education, information technology, energy, tourism, transport and mining. Officials from the energy sector had discussions on renewable solar energy, in particular on the activities of ISP Geophysics and Inter Rao, both of which specialise in power generation. Discussions were also held with organic fertiliser companies and currently their products are undergoing field tests in Zimbabwe.
Russia says it will move from intentions to concrete actions. Do you think Russia is prepared to or will engage in those sectors to help overcome the current acute problems, especially rising unemployment and economic challenges, in Zimbabwe?
The Russian government has expressed its readiness to support the endeavours of African countries to develop their economies. Zimbabwe, like many post-colonial nations, is grappling with colonial legacies in terms of ownership of means of production. African resources continue to feed the economies of the West.
Sub-Saharan Africa is engaging countries like Russia with a view to extricating itself from colonial bondage. Unemployment, lack of industrialisation, poverty and disease are legacies of colonialism afflicting the sub-continent. Zimbabwe has been under illegal economic sanctions for the past twenty years and this is one of the major constraints undermining economic development.
Effort continue to re-engage with those that imposed those sanctions while engaging erstwhile friends to help kickstart the economy. We believe Russian companies stand to benefit from cooperating with Zimbabwe in many fields. The Zimbabwean government and companies are ready to work with their Russian counterparts.
Russia has had a number of agreements with Zimbabwe, as with many African countries, in the past that have still not been fully implemented. What are your comments about this?
Indeed, Russia has entered into agreements with Zimbabwe as with many other sub-Saharan African countries. In Zimbabwe, the agreements entered into are at various stages of implementation. It should also be noted that most are under Memorandum of Understanding or Agreement documents which are not contracts but a symbol of common good.
Under such documents, there are processes and procedures to be followed in order to consummate an agreement and subsequently a contract. At the same time, it should also be noted that an investor has to weigh up the possible risks involved and such processes determine if such projects can be implemented.
What would you say about the forthcoming first Russia-Africa summit [October 23-24] in Sochi? What are the expectations from African leaders? Do you really see this corporate event as the New Dawn?
This is the first time that the Russian Federation is hosting such a grand summit for African leaders and businesspeople. Russia has a long history of supporting the decolonisation of Africa. The summit offers an opportunity for reconnection between Russia and Africa. The world is undergoing fundamental challenges from global terrorism, climate change/crisis, unilateralism and so forth.
This will be a forum that can help shape the common agenda on how to collectively address these challenges. It is equally hoped that an opportunity will be created for Russian business to interface with African businesses. And African leaders have to focus on sustainable development projects, determine the role Russia could play in pushing these projects. Africa is the future and it would be a missed opportunity if Russian businesses do not take up this offer of partnership.
The African Union’s Agenda 2063 focuses on the industrialisation of Africa and will not easily give up exploitation of African resources. Russia has the technological competence to help Africa realise this dream.
This interview was first and originally published by Indepth News.
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.
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.
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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