World
Russia May Host Russia-African Union Forum 2019
By Kester Kenn Klomegah
Faced with persistent criticisms, Russia has finally announced it will most likely host the first high-level Russia-African Union forum next year, a replica or a carbon copy of Forum on China Africa Cooperation (FOCAC) or European Union–African Union summit, signaling its readiness to work towards deepening and strengthening multifaceted engagement with Africa.
Working on a new paradigm collaboratively with African Union, Russia hopes to fill up pitfalls and cracks in the existing relationship, reinforce diplomatic ties and raise its staggering economic profile on the continent similar to the levels of China, India, Japan, South Korea, Turkey, U.S. and Europe.
On his official visit to Rwanda early June, Foreign Affairs Minister Sergey Lavrov hinted that the forum rolls out a comprehensive strategic roadmap for more economic cooperation and wide-range of investment possibilities, find effective ways of addressing regional security issues and that of improving public diplomacy in Africa.
“We discussed Russia’s idea of holding a large African Union business forum with AU member states and Russia to be attended by entrepreneurs and politicians, possibly next year,” Lavrov said at a media conference after meeting with Minister of Foreign Affairs, Cooperation and East African Community Louise Mushikiwabo in Kigali, Rwanda.
“We have agreed to prepare a framework political document that will set out a concept for cooperation in the next few years and also several practical projects for implementation in the near future. We are now preparing for a meeting of Russian and AU experts,” he assertively added.
Just before his African tour early March, Lavrov also told Hommes d’Afrique magazine “we carefully study the practice of summits between African countries and their major partners abroad. At present, Russia’s relations with African countries are progressing both on a bilateral basis and along the line of African regional organisations, primarily the African Union and the Southern African Development Community.”
In the interview posted to MFA website, he said “our African friends note the need for Russia’s active presence in the region, and more frequently express interest in holding a Russia-African summit. Such a meeting would undoubtedly help deepen our cooperation on the full range of issues. However, it is necessary to bear in mind that arranging an event of such a scale with the participation of over 50 Heads of State and Government requires most careful preparation, including in terms of its substantive content.”
Lavrov acknowledged in the interview: “The economic component of the summit has a special significance in this relation as it would be of practical interest for all the parties. As such, specific Russian participants in bilateral or multilateral cooperation should be identified, which are not only committed to long-term cooperation but are also ready for large-scale investments in the African markets with account of possible risks and high competition. Equally important are African businesspeople who are looking to work on the Russian market.”
On May 16, Lavrov chaired the Foreign Ministry Collegium meeting on the subject “Cooperation with Sub-Saharan African countries as part of implementing important tasks of Russian foreign policy.” The meeting noted that the consolidation of versatile ties with the Sub-Saharan African countries remains a major part of Russia’s foreign policy strategy, which is acquiring special significance in the context of deep changes in the global arena.
Some experts and researchers have, of course, identified low enthusiasm and lack of coordinated mechanism as key factors affecting cooperation between Russia and African countries, and suggested that this trend could be reversed if both Russian authorities and African governments get down regularly to serious dialogue with concrete business agenda.
Nearly a decade ago, Themba Mhlongo, Head of Programmes at the Southern Africa Trust, said in an emailed interview that “there is no effective Russia-African dialogue or mechanism for dialoguing with Africa. On the other hand, Russia has not been as aggressive as China in pursuing opportunities in Africa because Russia has natural resources and markets in Eastern Europe, South West Asia. Russia’s key exports to Africa might only be dominated by machinery and military equipment which serves their interest well.”
He suggested that Africa must also engage all BRICS members equally including Brazil and Russia in order to build alliances and open trade opportunities including finance and investment opportunities, African countries must not seem to show preferences in their foreign policy in favour of western Europe if they want to benefit from trade relations with Russia.
Tellingly, Vadim Trofimovich Kirsanov, an African Affairs Advisor at the Regional Projects Department of Russkiy Mir Foundation, (non-profit Russian NGO that promotes Russian language, literature and culture abroad), in an interview with Buziness Africa media, discusses the significance of developing bilateral ties not only in economic sphere but also in culture, exchange of people and ideas in the social sphere.
“We must use the full potential interest in Russian culture, Russian language, mutual sympathy and interest between the peoples of Africa and Russia, a great desire of Russians and Africans to visit each other to make friends, establish new connections. That’s where public diplomacy becomes an effective instrument for supporting business dialogue,” he said.
Kirsanov noted: use new opportunities for mutually beneficial cooperation open to the accession of South Africa to BRICS group (Brazil, Russia, India, China and South Africa), taking into account the economic impact of South Africa on the African continent and the world at large. Besides the intensification of dialogue with the African Union (AU), the Russian authorities have the development of multilateral cooperation among African countries with Russian Federation.
Professor Gerrit Olivier from the Department of Political Science, University of Pretoria in South Africa, noted that Russian influence in Africa, despite efforts towards resuscitation, remains marginal. While, given its global status, it ought to be active in Africa as Western Europe, the European Union, the United States and China are, it is all but absent, playing a negligible role.
“Russia, of course, is not satisfied with this state of affairs. At present diplomacy dominates its approach: plethora of agreements have been signed with South Africa and various other states in Africa, official visits from Moscow proliferate apace, but the outcomes remain hardly discernible,” Professor Olivier, previously served as South African Ambassador to the Russian Federation, wrote in an email comment from Pretoria, South Africa.
Be as it may, he indicated further that “the Kremlin has revived its interest in the African continent and it will be realistic to expect that the spade work it is putting in now will at some stage show more tangible results.”
In his assessment, Rex Essenowo, a Moscow-based Economic Policy Analyst, pointed out to a known and well-established fact, which Russians have always shrugged off, that there have been many summits and conferences between the United States, EU and Asian states with Africa, but there has yet to be a single high-level Russia-African summit.
However, he believes that all was not yet lost, there is still an unexplored chance to strengthen Russia’s relationship with Africa if, for example, African countries work collectively together as AU to focus on improving all aspects of Russia-African relationship.
Large investments and comprehensive approach, similar to the Chinese, would help to bridge the economic and political gap between Russia and the African continent, Essenowo said, and reminded that Russia is very much involved in educating and/or training professionals who are playing key roles and could serve as excellent useful links between Russia and Africa. Russia has ignored this valuable product in its diplomacy with Africa.
Interesting, BRICS countries are vigorously moving into Africa and now three BRICS members: Russia is planning, India and China are also preparing for summits next year with Africa. As already publicly known, all previous summits held by many foreign countries with Africa, there were concrete financial packages earmarked towards infrastructure development in Africa.
From Russia’s perspective, there are undeniable important geopolitical implications working with Africa. Nevertheless, Russia’s efforts in the region have been limited thus far which some experts attributed to lack of a system of financing policy projects. While Russia government is very cautious about making financial commitments, Russia’s financial institutions are not closely involved in foreign policy initiatives in Africa.
Experts and researchers have recommended one new initiative that will largely interest African leaders, that is for Russia to create a Russian Development Fund for Africa (RDfA) as an agency to manage and run projects as business for Russia in Africa while Russian International Affairs Council (RIAC) could become the key organiser and coordinator of future Russia-African Union summits. Kester Kenn Klomegah frequently writes on Russia, Africa and BRICS.
World
Russian-Nigerian Economic Diplomacy: Ajeokuta Symbolises Russia’s Remarkable Achievement in Nigeria
By Kestér Kenn Klomegâh
Over the past two decades, Russia’s economic influence in Africa—and specifically in Nigeria—has been limited, largely due to a lack of structured financial support from Russian policy banks and state-backed investment mechanisms. While Russian companies have demonstrated readiness to invest and compete with global players, they consistently cite insufficient government financial guarantees as a key constraint.
Unlike China, India, Japan, and the United States—which have provided billions in concessionary loans and credit lines to support African infrastructure, agriculture, manufacturing, and SMEs—Russia has struggled to translate diplomatic goodwill into substantial economic projects. For example, Nigeria’s trade with Russia accounts for barely 1% of total trade volume, while China and the U.S. dominate at over 15% and 10% respectively in the last decade. This disparity highlights the challenges Russia faces in converting agreements into actionable investment.
Lessons from Nigeria’s Past
The limited impact of Russian economic diplomacy echoes Nigeria’s own history of unfulfilled agreements during former President Olusegun Obasanjo’s administration. Over the past 20 years, ambitious energy, transport, and industrial initiatives signed with foreign partners—including Russia—often stalled or produced minimal results. In many cases, projects were approved in principle, but funding shortfalls, bureaucratic hurdles, and weak follow-through left them unimplemented. Nothing monumental emerged from these agreements, underscoring the importance of financial backing and sustained commitment.
China as a Model
Policy experts point to China’s systematic approach to African investments as a blueprint for Russia. Chinese state policy banks underwrite projects, de-risk investments, and provide finance often secured by African sovereign guarantees. This approach has enabled Chinese companies to execute large-scale infrastructure efficiently, expanding their presence across sectors while simultaneously investing in human capital.
Egyptian Professor Mohamed Chtatou at the International University of Rabat and Mohammed V University in Rabat, Morocco, argues: “Russia could replicate such mechanisms to ensure companies operate with financial backing and risk mitigation, rather than relying solely on bilateral agreements or political connections.”
Russia’s Current Footprint in Africa
Russia’s economic engagement in Africa is heavily tied to natural resources and military equipment. In Zimbabwe, platinum rights and diamond projects were exchanged for fuel or fighter jets. Nearly half of Russian arms exports to Africa are concentrated in countries like Nigeria, Zimbabwe, and Mozambique. Large-scale initiatives, such as the planned $10 billion nuclear plant in Zambia, have stalled due to a lack of Russian financial commitment, despite completed feasibility studies. Similar delays have affected nuclear projects in South Africa, Rwanda, and Egypt.
Federation Council Chairperson Valentina Matviyenko and Senator Igor Morozov have emphasized parliamentary diplomacy and the creation of new financial instruments, such as investment funds under the Russian Export Center, to provide structured support for businesses and enhance trade cooperation. These measures are designed to address historical gaps in financing and ensure that agreements lead to tangible outcomes.
Opportunities and Challenges
Analysts highlight a fundamental challenge: Russia’s limited incentives in Africa. While China invests to secure resources and export markets, Russia lacks comparable commercial drivers. Russian companies possess technological and industrial capabilities, but without sufficient financial support, large-scale projects remain aspirational rather than executable.
The historic Russia-Africa Summits in Sochi and in St. Petersburg explicitly indicate a renewed push to deepen engagement, particularly in the economic sectors. President Vladimir Putin has set a goal to raise Russia-Africa trade from $20 billion to $40 billion over the next few years. However, compared to Asian, European, and American investors, Russia still lags significantly. UNCTAD data shows that the top investors in Africa are the Netherlands, France, the UK, the United States, and China—countries that combine capital support with strategic deployment.
In Nigeria, agreements with Russian firms over energy and industrial projects have yielded little measurable progress. Over 20 years, major deals signed during Obasanjo’s administration and renewed under subsequent governments often stalled at the financing stage. The lesson is clear: political agreements alone are insufficient without structured investment and follow-through.
Strategic Recommendations
For Russia to expand its economic influence in Africa, analysts recommend:
- Structured financial support: Establishing state-backed credit lines, policy bank guarantees, and investment funds to reduce project risks.
- Incentive realignment: Identifying sectors where Russian expertise aligns with African needs, including energy, industrial technology, and infrastructure.
- Sustained implementation: Turning signed agreements into tangible projects with clear timelines and milestones, avoiding the pitfalls of unfulfilled past agreements.
With proper financial backing, Russia can leverage its technological capabilities to diversify beyond arms sales and resource-linked deals, enhancing trade, industrial, and technological cooperation across Africa.
Conclusion
Russia’s Africa strategy remains a work in progress. Nigeria’s experience with decades of agreements that failed to materialize underscores the importance of structured financial commitments and persistent follow-through. Without these, Russia risks remaining a peripheral player (virtual investor) while Arab States such as UAE, China, the United States, and other global powers consolidate their presence.
The potential is evident: Africa is a fast-growing market with vast natural resources, infrastructure needs, and a young, ambitious population. Russia’s challenge—and opportunity—is to match diplomatic efforts with financial strategy, turning political ties into lasting economic influence.
By Adedapo Adesanya
Africa Export-Import Bank (Afreximbank) has urged African governments to lean into structural tailwinds, warning that the global commodity landscape has entered a new phase of deepening split.
In its November 2025 commodity bulletin, the bank noted that markets are no longer moving in unison; instead, some are powered by structural demand while others are weakening under oversupply, shifting consumption patterns and weather-related dynamics.
As a result of this bifurcation, the Cairo-based lender tasked policymakers on the continent to manage supply-chain vulnerabilities and diversify beyond the commodity-export model.
The report highlights that commodities linked to energy transition, infrastructure development and geopolitical realignments are gaining momentum.
For instance, natural gas has risen sharply from 2024 levels, supported by colder-season heating needs, export disruptions around the Red Sea and tightening global supply. Lithium continues to surge on strong demand from electric-vehicle and battery-storage sectors, with growth projections of up to 45 per cent in 2026. Aluminium is approaching multi-year highs amid strong construction and automotive activity and smelter-level power constraints, while soybeans are benefiting from sustained Chinese purchases and adverse weather concerns in South America.
Even crude oil, which accounts for Nigeria’s highest foreign exchange earnings, though still lower year-on-year, is stabilising around $60 per barrel as geopolitical supply risks, including drone attacks on Russian facilities, offset muted global demand.
In contrast, several commodities that recently experienced strong rallies are now softening.
The bank noted that cocoa prices are retreating from record highs as West African crop prospects improve and inventories recover. Palm oil markets face oversupply in Southeast Asia and subdued demand from India and China, pushing stocks to multi-year highs. Sugar is weakening under expectations of a nearly two-million-tonne global surplus for the 2025/26 season, while platinum and silver are seeing headwinds from weaker industrial demand, investor profit-taking and hawkish monetary signals.
For Africa, the bank stresses that the implications are clear. Countries aligned with energy-transition metals and infrastructure-linked commodities stand to benefit from more resilient long-term demand.
It urged those heavily exposed to softening agricultural markets to accelerate a shift into processing, value addition and product diversification.
The bulletin also called for stronger market-intelligence systems, improved intra-African trade connectivity, and investment in logistics and regulatory capacity, noting that Africa’s competitiveness will depend on how quickly governments adapt to the new two-speed global environment.
By Modupe Gbadeyanka
A strategic partnership designed to accelerate worldwide enterprise adoption and monetisation of Network APIs has been entered into between Comviva and the global aggregator of standardised network APIs, Aduna.
The adoption would be done through Comviva’s flagship SaaS-based platform for programmable communications and network intelligence, NGAGE.ai.
The partnership combines Comviva’s NGAGE.ai platform and enterprise onboarding expertise with Aduna’s global operator consortium.
This unified approach provides enterprises with secure, scalable access to network intelligence while enabling telcos to monetise network capabilities efficiently.
The collaboration is further strengthened by Comviva’s proven leadership in the global digital payments and digital lending ecosystem— sectors that will be among the biggest adopters of Network APIs.
The NGAGE.ai platform is already active across 40+ countries, integrated with 100+ operators, and processing over 250 billion transactions annually for more than 7,000 enterprise customers. With its extensive global deployment, NGAGE.ai is positioned as one of the most scalable and trusted platforms for API-led network intelligence adoption.
“As enterprises accelerate their shift toward real-time, intelligence-driven operations, Network APIs will become foundational to digital transformation. With NGAGE.ai and Aduna’s global ecosystem, we are creating a unified and scalable pathway for enterprises to adopt programmable communications at speed and at scale.
“This partnership strengthens our commitment to helping telcos monetise network intelligence while enabling enterprises to build differentiated, secure, and future-ready digital experiences,” the chief executive of Comviva, Mr Rajesh Chandiramani, stated.
Also, the chief executive of Aduna, Mr Anthony Bartolo, noted that, “The next wave of enterprise innovation will be powered by seamless access to network intelligence.
“By integrating Comviva’s NGAGE.ai platform with Aduna’s global federation of operators, we are enabling enterprises to innovate consistently across markets with standardised, high-performance Network APIs.
“This collaboration enhances the value chain for operators and gives enterprises the confidence and agility needed to launch new services, reduce fraud, and deliver more trustworthy customer experiences worldwide.”
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn