World
Russia’s Business Integration and Geopolitics of Multipolar World
By Kestér Kenn Klomegâh
Popularly referred to as Roscongress Foundation, St. Petersburg International Forum (SPIEF) has been its main cornerstone. The SPIEF has, all these years, focused on charting dignified internal economic integration utilizing available resources, both natural and human capital and combined with financial capability, and the possibility of increasing exportable goods to make a better world.
Since its establishment by a decree of Russian President Vladimir Putin, it has marked chronological achievements in boosting and strengthening corporate investor networking and entrepreneurship. It has also taken several key initiatives to foster potential entrepreneurship, leveraging the vast opportunities and supporting the growth of small and medium enterprises (SMEs) in the Russian Federation.
According to reports, designing business brands, expand their objective reach to internal Russia’s landscape, and developing markets in neighboring Soviet republics and farther down in Africa, Asia, Europe, United States and Latin America. Ultimately, the SPIEF is unreservedly committed to providing the necessary support to enable both the state-to-state and the private sector to thrive. Building on the previous unerasable achievements, SPIEF’s mid-June 2025 edition will continue to serve as a solid platform, particularly for corporate networking, brainstorming and collaborating on strategies for potential business developments and their subsequent growth.
The architecture of the entire business programme on 18–21 June, has been fixed, and the theme designed as “Shared Values: The Foundation of Growth in a Multipolar World”, reflecting major shifts in international cooperation and the role of universal values in enabling sustainable economic development.
During the discussions, SPIEF participants will assess and review the effectiveness of measures taken, in the past years, to achieve Russia’s economic stability and progress, and concretely to determine further economic development trajectories in the Russian Federation and its footprints in different regions in the world amidst the current geopolitical challenges.
“We are witnessing tectonic shifts in the world. Not only is the economic map changing, but so too, in some sense, are the systems of economic activity and social relations in a number of countries and even intergovernmental blocs. The St. Petersburg International Economic Forum is becoming more than just a space for dialogue and the generation of ideas and solutions. It is turning into a platform where new meanings and even new practices emerge that can shape the contours of the future.
“It’s important not only to observe these changes, but to drive them and set their direction. And all of this must happen through a format of meaningful, trust-based and collaborative dialogue,” said Anton Kobyakov, Adviser to the President of the Russian Federation and Executive Secretary of the SPIEF Organizing Committee.
The business programme has been structured around four key thematic pillars, each revealing a different dimension of global and national transformation. The central pillar, “Development Economics: Ensuring Growth”, reflects the logic of new economic thinking. It covers two major areas. “The Global Economy: A New Platform for Global Growth” focuses on the resilience of macroeconomic models, investment strategies, the expansion of logistics routes, and the development of new markets.
Discussions will address the future of international trade and supply chain transformation, the role of small and medium-sized businesses, and the regional and sector-specific dimensions of economic policy. Another major area is “The Russian Economy: A New Level of Growth”, which explores the opportunities and challenges facing the Russian economy amid global shifts.
Topics will include building an effective new-cycle economic model, strengthening the resilience of domestic industries, and developing priority sectors such as manufacturing, agriculture, and high technology. This track will also cover Russia’s innovation potential, its integration into global economic processes, investment attraction strategies, and the strengthening of the domestic market.
These themes are directly linked to technological sovereignty and innovation. The “Technology: Pursuing Leadership” pillar will focus on key directions in technological development from AI and automation to independence in microelectronics, new materials, energy, and cybersecurity. At the core is the formation of a sustainable and competitive technological base capable of ensuring the long-term development of the economy and society.
Technological advancement is impossible without a stable value system and strong cultural identity. That’s why the third pillar, “The Living Environment”, will address information sovereignty, cultural identity, social cohesion, and international humanitarian cooperation. Participants will explore how meaning is shaped and communicated in the media landscape, the mechanisms of trust in the digital age, and the role of tradition and historical memory.
This naturally leads into the fourth pillar, “The Individual in a New World”, which will focus on quality of life, health, education, family well-being, urban development, and personal fulfilment. Special attention will be paid to youth and women’s participation in the economy, new employment formats, and managing human capital as a key resource for the future.
The programme will also include sector-specific and international events that have already proven to be essential gathering points for the professional community. Among them are the SCO and BRICS Business Forums, the B20 Forum, the SME Forum, the Creative Industries Forum, and the ‘Ensuring Drug Security’ Russian Pharmaceutical Forum.
The traditional format of business dialogues with representatives from China, India, Africa, Latin America, the Middle East, ASEAN, the CIS, and the EAEU will support the expansion of bilateral and multilateral ties, showcase investment projects, and explore industrial and scientific cooperation opportunities. Additional events will include business breakfasts with leaders of major companies, project presentations, public interviews, agreement signings, and an exhibition programme.
This year’s SPIEF will also host the General Assembly of the Organization of Asia-Pacific News Agencies (OANA), as well as the Day of the Future International Youth Economic Forum. The latter is supported by Friends for Leadership, an organization accredited by the UN Economic and Social Council (ECOSOC), which brings together young leaders, entrepreneurs and experts from over 100 countries. It was created by the Roscongress Foundation following the 19th World Festival of Youth and Students in 2017.
From the above discussion, reiterating that the theme, “Shared Values: The Foundation of Growth in a Multipolar World”, reflects profound shifts in the framework of international cooperation. Rapidly evolving economic and political processes are transforming the global landscape. The current changes demand broad expert discussion, and SPIEF, as one of the largest business forums, provides a platform for an open dialogue. In addition, it aims to become a space where new ideas are born, shaped into strategy, and transformed into real-world processes that can help shape the future.
The Roscongress Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives. The Roscongress Foundation was established in pursuance of a decision by the President of the Russian Federation.
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
