World
Russian Researchers Roadmap Africa’s Investment Sectors for Entrepreneurs
By Kestér Kenn Klomegâh
The Centre for Transition Economy Studies of the Institute for African Studies of the Russian Academy of Sciences held a two-day scientific conference under the theme: “Industrial Development Strategies of African Countries” on March 18-19. The conference was opened by Professor Irina Abramova, Director of the Institute for African Studies. More than 40 researchers and experts from Russia, South Africa, Nigeria, Egypt and North Macedonia took part in the event.
The conference focused on a wide range of significant issues related to Africa’s industrial development, the modernisation of the African production base, and the potential for Russian-African cooperation. The in-person part of the conference focused on the development of the manufacturing and extractive industries, special economic zones, energy and transport infrastructure, digitalisation, and the agro-industrial complex. The second day of the conference was conducted as an online discussion in English, featuring African colleagues on the localisation of production chains in Africa, covering both agricultural and mineral processing.
Topics of the Conference included:
- Continental, regional and national programs and plans of industrial development in Africa. Prospects of continental and regional production chains.
- Study of the manufacturing market in African countries: manufacturing and agro-industrial complexes
- Energy, transport, and digitalisation: necessary infrastructure for industrial development.
- Interests of Multinational Corporations in Africa: conditions, forms of activities and geographical distribution. The role of free economic zones.
- Government policy regarding Multinational Corporations and control over export-import flows.
- The role of international organisations and activities of external actors.
- Possible areas and prospects for expanding mutually beneficial cooperation for Russian companies in Africa.
Experts in African studies from Russia, as well as representatives of the Russian government and business circles involved in trade and economic cooperation with African countries, actively participated. One of the significant outputs presented at the plenary session of the conference was the full-text on the African Development Strategy database created by Professors D. A. Degterev and A. D. Novikov, together with the staff of the IAS. The database covers more than 400 official strategic planning documents across 53 countries on the continent for the period 1997–2025. It systematises them under six thematic areas: long-term and medium-term development strategies, industrial policy, ICT, agriculture and the water sector.
The plenary session featured nine reports covering key dimensions of Africa’s industrial development. There were issues of trade and industrial potential of the continent that were highlighted in the report on the export specificity of African machine-building industries: based on ITC Trade Map data (2019–2024) that shows duties of South Africa, Tunisia, and industrial production, including on intracontinental markets.
Institutional mechanisms of Russian-African economic cooperation were reviewed in the report on the activities of Intergovernmental Commissions: the number of these ICC increased from four (4) in 2023 to nine (9) in 2025, and the volume of investment funds to support African projects is planned to increase, at least, to Rouble 5 billion for 2026–2027.
The conceptual dimension of financing industrialisation was presented through a critique of universal Western narratives and the justification for the need for an “application finance strategy”—a country model that takes into account the economy of Africa. Practical aspects of Russia’s investment presence in Africa are characterized on the example of projects in the countries of the Alliance of Sahel States (AES) with an emphasis on the specific risks of the subregion (DM Sinitsyn, VEB.RF). Digitalisation and artificial intelligence development in sub-Saharan African countries were also analysed and presented at the conference.
Russian-African cooperation in the field of technologies and education was covered in the reports on the transfer of agrobiotechnologies through the Afro-Russian Centre for Technology Development in Kampala, within which, in 2025/2026, this period, in which concretely 467 citizens of African countries were trained in Russian universities (NA Goncharova, FGBU “Agroexport”).
The competitive struggle of foreign players for African markets and the possibilities of Russian participation were considered in the reports on the position of the continent on the world energy markets, supplies of ground vehicles, and activities of pharmaceuticals for Africa. The digital dimension of industrialisation was covered by the reports on the cyber potential of West Africa, the formation of data processing centres in the industrial strategy of South Africa, and the digitalisation strategies of Algeria and Morocco.
The theme of most speeches, at the conference, became a reflection on the ‘disconnection’ between the proclaimed goals of industrialisation and the actual structure of African economies: despite the widespread proliferation of pre-national strategic documents, industries in the continent’s total GDP has not exceeded 10–12% for more than two decades, and exports still comprise mainly unprocessed raw materials.
In this regard, a number of reports justify the need to transition from external financial models formed by international organisations to sovereign country strategies based on state political, industrial and human resources. Global South—including, to deepen Russian-African cooperation in the spheres of technology, education and investment.
A collective monograph is, however, planned for publication following the conference. The event included the presentation of the full-text database on African development strategies, prepared by the team of the Institute for African Studies of the Russian Academy of Sciences.
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
