World
Russia Strategizes African Market
By Kester Kenn Klomegah
Russia plans to offer trade subsidies and investment guarantees as an emergency support for Russian companies to penetrate into African market, part of the strategy for strengthening economic ties between Russia and Africa, according a special meeting report released by the Ministry of Foreign Affairs.
The report indicated that the Ministry’s Business Council had discussed a wide range of issues on promoting Russia and Russian businesses’ interests in Africa, noting further that Africa has huge natural resources still untapped, all kinds of emerging business opportunities and constantly growing consumer market due to the increasing population. It has currently become a new business field for global players.
There was a lot of interesting and demanding work ahead, Foreign Minister Sergey Lavrov said at the Ministry’s Business Council meeting held July 16 in Moscow. He added “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.”
According to Lavrov, the Russian Foreign Ministry would continue to provide all-round support for initiatives aimed at strengthen relations between Russia and Africa. “Our African friends have spoken up for closer interaction with Russia and would welcome our companies on their markets. But much depends on the reciprocity of Russian businesses and their readiness to show initiative and ingenuity, as well as to offer quality goods and services,” he said at the meeting.
He urged Russian entrepreneurs, both small and medium-sized, to race against other foreign players to get access to the African markets and its trading resources, be fearless of competition and rivalry but play with adequate caution to save Russia’s image in Africa.
“We find it important to estimate options for attracting small and medium-sized businesses to African markets. This segment of our cooperation is still insignificant,” he stated.
“We will rely on the existing and strengthening foundation of Russian-African cooperation. This year we have significantly intensified political dialogue, cooperation between parliaments and civil societies,” Lavrov explained.
“This positive groundwork allows us to convert this into increasing trade, economic and investment exchanges, to expand banking cooperation, the implementation of mutually beneficial projects,” he underlined.
Lavrov further underscored the fact that trade and economic relations have reached a new level, and “the first ever Russia-Africa summit, which is to be held in October in Sochi, would give a special impetus to these processes.”
The first Russia–Africa summit scheduled to take place in Sochi on October 24 and will be co-chaired by President of Russia Vladimir Putin and President of Egypt Abdel Fattah el-Sisi, who currently chairs the African Union.
In June, Moscow hosted a shareholder meeting of the African Export-Import Bank, as well as the Russia-Africa Economic Conference. Early July, the Russia-Africa Parliamentary Conference was held as part of the International Development of Parliamentarianism Forum, which took place in Moscow.
During the special session on Russia-Africa held July 3, the former Special Presidential Representative to Africa, Professor Alexey Vasileyev, pointed out that the level and scope of Russian economic cooperation with Africa has doubled in recent years, “but unfortunately Russian-African cooperation is not in the top five of the foreign players in Africa.”
Speaking particularly about trade, Vasileyev noted that not all African countries have signed agreements with Russia, for example, on the abolition of double taxation. He urged African countries to make trade choices that are in their best economic interests and further suggested that Russia should also consider the issue of removal of tariff and non-tariff restrictions on economic relations.
In order to increase trade, Russia has to improve its manufacturing base and Africa has to standardize its export products to compete in external markets. Russia has only few manufactured goods that could successfully compete with Western-made products in Africa.
The former Presidential Envoy believes that it is also necessary to create, for example, free trade areas. “But before creating them, we need information. And here, I am ready to reproach the Russian side, providing little or inadequate information to Africans about their capabilities, and on the other hand, reproach the African side, because when our business comes to Africa, they should know where they go, why and what they will get as a result,” Vasileyev told the gathering of parliamentarians.
Interestingly, there are few Russian traders in Africa and African exporters are not trading in Russia’s market, in both cases, due to multiple reasons including inadequate knowledge of trade procedures, rules and regulations as well as the existing market conditions, he pointed out.
“The task before us, especially before the both parliaments, is to harmonize the norms of trade, contract and civil law. The parliamentarians of the two sides have the task to work together on a legislative framework that would be in the interests of both sides. This should be a matter of priority,” Vasileyev concluded.
Meanwhile, there is possibility that a memorandum on cooperation between the Eurasian Economic Commission and the African Union will be signed in the near future. This memorandum will bring Russian-African trade and economic cooperation to a higher level and will accelerate the growth of bilateral trade. The Eurasian consumer market, especially the growing middle-class, could be good for African exporters.
Russia is interested in new markets and external alliances more than ever before, while Africa also looks for ways toward economic growth in recent years. In this context, African countries need to think about the smart approaches, mechanisms, and tools to use for effective trade cooperation, according to a new analytical handbook on Russia-Africa published by Modern Diplomacy ahead of Russia-Africa Summit in October.
With the current sanctions of the United States and Europe against Russia, there is this massive opportunity for African producers to develop more effectively their trade relationships with Russia. Try to find answers to a few questions, for example, what are the key initiatives and competencies that can create a deeper strategic trade partnership between Russia and Africa?
In practice of diplomacy, parties usually talk about mutual benefits. While Africans will benefit largely from Russia’s trade with the continent, taking into account the changing consumer landscape, it is deeply important for Africans, for example, to negotiate for trade preferences, tariff and tax relief) for their products to Russia and its neighbouring republics.
But this factor is often missed. Nevertheless, African leaders and business directors have to take steps to explore two-way corporate business, begin looking at wide range of ways on promoting Africa and its business interests in the Russian Federation, contained in the published geopolitical handbook on Russia-Africa.
Whether Moscow will move from mere intentions to concrete actions, with commitment and consistency, remains largely to be seen in the subsequent years, according to policy experts and observers who monitor developments between Russia and Africa. According to official reports, Russia has a positive dynamics of trade with Africa, its trade exceeded $20 billion in 2018.
Kester Kenn Klomegah writes frequently about Russia-Africa and the BRICS.
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.
By Kestér Kenn Klomegâh
Despite the complexities posed by Russia-Ukraine crisis, United States has been taking conscious steps to improve commercial relations with Russia. Unsurprisingly, Russia, on the other hand, is also moving to restore and normalise its diplomacy, negotiating for direct connections of air-routes and passionate permission to return its diplomats back to Washington and New York.
In the latest developments, Kirill Dmitriev, Chief Executive Officer of the Russian Direct Investment Fund (RDIF), has been appointed as Russian President’s Special Envoy to United States. This marked an important milestone towards raising bilateral investment and economic cooperation. Russian President Vladimir Putin tasked him to exclusively promote business dialogue between the two countries, and further to negotiate for the return of U.S. business enterprises. According to authentic reports, United States businesses lost $300+ bn during this Russia-Ukraine crisis, while Russia’s estimated 1,500 diplomats were asked to return to Moscow.
Strategically in late November 2025, the American Chamber of Commerce in Russia (AmCham) has awarded Kirill Dmitriev, praised him for calculated efforts in promoting positive dialogue between the United States and Russia within the framework decreed by President Vladimir Putin. Chief Executive Officer of Russian Direct Investment Fund (RDIF) Kirill Dmitriev is the Special Representative of the Russian President for Economic Cooperation with Foreign Countries. Since his appointment, his primary focus has been on United States.
“Received an American Chamber of Commerce award ‘For leadership in fostering the US-Russia dialogue,’” Dmitriev wrote on his X page, in late November, 2025. According to Dmitriev, more than 150 US companies are currently operating in Russia, with more than 70% of them being present on the Russian market for over 25 years.
In addition, Chamber President Sergey Katyrin and American Chamber of Commerce in Russia (AmCham) President Robert Agee have also been discussing alternatives pathways to raise bilateral business cooperation. Both have held series of meetings throughout this year, indicating the the importance of sustaining relations as previously. Expectedly, the Roscongress Foundation has been offered its platforms during St. Petersburg International Economic (SPIEF) for the American Chamber of Commerce (AmCham).
On December 9, Sergey Katyrin and Robert Agee noted that, despite existing problems and non-economic obstacles, the business communities of Russia and the United States proceed from the necessity of maintaining professional dialogue. Despite the worsening geopolitical conditions, Sergey Katyrin and Robert Agee noted the importance of preserving stable channels of trade and pragmatic prospects for economic cooperation. These will further serve as a stabilizing factor and an instrument for building mutual trust at the level of business circles, industry associations, and the expert community.
The American Chamber of Commerce (AmCham) will be working in the system of the Chamber of Commerce and Industry (CCI) in the Russian Federation, which currently comprises 57,000 legal entities, 130 regional chambers and a combined network of representative offices covering more than 350 points of presence.
According to reports obtained by this article author from the AmCham, promising sectors for Russian-American economic cooperation include healthcare and the medical industry, civil aviation, communications/telecom, natural resource extraction, and energy/energy equipment. The United States and Russia have, more or less, agreed to continue coordinating their work to facilitate the formation of a more favorable environment for Russian and American businesses, reduce risks, and strengthen business ties. Following the American-Russian Dialogue, a joint statement and working documents were adopted.
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