World
Russia’s Real Motives in Africa Causing Some to Worry—Gruzd
By Kester Kenn Klomegah
As preparations are underway for the second Russia-Africa summit planned for 2022, African leaders, politicians, academic researchers and experts have been discussing several aspects of the current state of Russia-Africa relations.
They, most often, compare it with a number of foreign countries notably China, the United States, the European Union, India, France, Turkey, Japan, and South Korea that have held such gatherings in that format with Africa.
Some have convincingly argued that Russia has moved away from its low-key strategy to vigorous relations, as shown by the first symbolic Russia-Africa summit in the Black Sea city of Sochi in October 2019.
Russia and Africa adopted a joint declaration, a comprehensive document that outlines the key objectives and necessary tasks that seek to raise assertively the entirety of relations to a new level.
Long before the summit, at least, during the past decade, several bilateral agreements between Russia and individual African countries were signed. Besides, memoranda of understanding, declaration of interests, pledges and promises dominated official speeches.
On the other side, Russia is simply invisible in economic sectors in Africa, despite boasting of decades-old solid relations with the continent.
Undoubtedly, Africa is opening up new fields of opportunity. The creation of the African Continental Free Trade Area (AfCFTA) provides a unique and valuable opportunity for businesses to access an integrated African market of over 1.3 billion people with a GDP of over $2.5 trillion. It aspires to connect all the regions of Africa, deepen economic integration and boost intra-African trade and investment.
Despite existing risks, challenges and threats, a number of external countries continue strengthening their economic footholds in Africa and contribute enormously towards the continent’s efforts to achieve the Sustainable Development Goals (SDGs).
Russia has to upgrade or scale up its collaborative engagement with Africa. It has to consider seriously launching more public outreach programmes, especially working with civil society to change public perceptions and the private sector to strengthen its partnership with Africa. In order to achieve this, it has to surmount the challenges, take up the courage and work consistently with both private and public sectors and with an effective Action Plan.
In this exclusive interview, Steven Gruzd, Head of the African Governance and Diplomacy Programme at the South African Institute of International Affairs (SAIIA), discusses a few questions, highlights existing challenges and passionately offers some progressive suggestions regarding Russia-African relations and the fears over Russia’s real motives in Africa.
Steven Gruzd also heads the Russia-Africa Research Programme initiated this year at SAIIA, South Africa’s premier research institute on international issues. It is an independent, non-government think tank, with a long and proud history of providing thought leadership in Africa. Here are the interview excerpts:
What are your appreciations and fears for Russia returning to Africa?
Africa is becoming crowded, with many old and new actors actively involved on the continent. Apart from EU countries, China and the US, we have players such as Iran, Turkey, Israel, the UAE, Japan and others.
So, Russia’s renewed interest in Africa does not happen in isolation. It, of course, seeks to build on Soviet-era ties, and several African leaders today studied in the USSR or the Soviet sphere of influence. Russia has tended to focus on niche areas such as weapons sales, nuclear energy and resource extraction, at a much smaller scale than China.
Many leaders are welcoming the attention of Russia, but some remain wary of Russia’s hidden motives and intentions. Russia’s dealings are not transparent and open compared to China. The shadowy world of private military companies such as Russia’s Wagner Group is causing concern in unstable countries like the CAR, Libya and Mali. So, in fact, there is a kind of mixed picture, sentiments and interpretations are also varied here.
How would you argue that Russia engages fairly in “competition for cooperation” in Africa?
Africa is a busy geopolitical arena, with many players operating. Russia has to compete against them, and distinctively remain focused its efforts. Russia welcomes diplomatic support from African countries, and unlike the West, it does not demand good governance or advocate for human rights reforms.
Russia likes to portray itself as not interfering in local politics or judging African countries, even though there is mounting evidence that it has been involved in meddling in elections in Africa through disinformation, fake news and attempting to exploit fault lines in societies through social media.
Do you think, to some extent, Russia is fighting neo-colonial tendencies, as shown in Guinea, Mali, CAR and Sudan? Does it imply that Russia supports military leaders in Africa?
Russia uses the rhetoric of anti-colonialism in its engagement with Africa, and that it is fighting neo-colonialism from the West, especially in relations with their former colonies. It sees France as a threat to its interests especially in Francophone West Africa, the Maghreb and the Sahel.
Russia has invested resources in developing French-language news media, and engages in anti-French media activity, including through social media. I think Russia has its own economic and political interests in countries like Guinea, Mali, CAR and Sudan, even if it uses the language of fighting neo-colonialism. It explicitly appears that Russia supports several undemocratic African leaders and their regimes.
Some experts have argued that Russia’s diplomacy is full of bilateral agreements, largely not implemented, and gamut of pledges and promises. What are your views about these?
I would largely agree that there is a divide between what has been pledged and promised at high-level meetings and summits, compared to what has actually materialised on the ground. There is more talk than action, and in most cases down the years mere intentions and ideas have been officially presented as initiatives already in progress. It will be interesting to see what has been concretely achieved in reports at the second Russia-Africa summit scheduled for late 2022.
From the above discussions so far, what do you think are Russia’s challenges and setbacks in Africa?
Africa is a crowded playing field. Russia does not have the same resources and approaches as China, France, UK or US, so it has limited impact. The language barrier could be used as an excuse, but Russia has the great possibility to leverage into the Soviet- and Russian-trained diaspora. On the other hand, Russia feels it is unfairly portrayed in Western media, so that is another perception it seeks to change. It can change the perception by supporting public outreach programmes.
Working closely with the academic community, such as the South African Institute of International Affairs and similar ones throughout Africa, is one potential instrument to raise its public image. In places like Mozambique and the CAR, the Wagner Group left after incurring human losses – does Russia have staying power?
As it prepares to hold the second Russia-Africa summit in 2022, what could be the expectations for Africa? What to do ultimately with the first Joint Declaration from Sochi?
As already mentioned, there needs to be a lot of tangible progress on the ground for the second summit to show impact. It is worth reiterating here that African countries will expect more debt relief and solid investment from Russian businesses.
In terms of political support at places like the UN Security Council, there is close interaction between Russia and the African States, but as recent research by SAIIA shows, not as much as assumed. (https://saiia.org.za/research/walking-with-the-bear-russia-and-the-a3-in-the-un-security-council/). The relationship has to however deliver and move from words to deeds.
In conclusion, I would suggest that Russia has to take up both the challenges and unique opportunities and attempt to scale up its influence by working consistently on practical multifaceted sustainable development issues and by maintaining appreciable relations with Africa.
On the other side, African countries likewise have to devise viable strategies for engaging with Russia.
World
Global Leaders Head to Addis Ababa for First World Public Summit in Africa
By Kestér Kenn Klomegâh
Africa is set to make history as it hosts the World Public Summit for the first time, with Addis Ababa, Ethiopia, welcoming global leaders and changemakers from July 29–30, 2026, for the landmark gathering under the theme “New World: Africa in Shaping a Shared Future.”
The inaugural African edition of the World Public Summit marks a significant milestone in the continent’s growing role in shaping international dialogue on governance, sustainable development, human-centred leadership and global cooperation.
Hosted by the World Peoples Assembly in partnership with African and international organisations, the summit will convene government officials, diplomats, business leaders, academics, journalists, youth representatives, civil society organisations and cultural leaders from across Africa and around the world.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Summit is not just a meeting—it is a space for unity. A space where the ‘values that unite us’ come to life: respect for people, openness to the world, responsibility for the future, and a commitment to creation.
“Today, we understand more clearly than ever: the future cannot be built alone. It is born in dialogue, in trust, in the ability to listen to one another and to act together.”
The programme begins on July 29 with a series of high-level roundtables and expert discussions covering Pan-African economic integration, civil society, education, scientific cooperation, cultural diplomacy and humanitarian partnerships.
The opening plenary, “Values, Development and Partnership as the Basis of a Sustainable and Just World,” will explore how African values—including Ubuntu—can help shape a more inclusive and sustainable global future. Discussions will also focus on youth leadership, innovation, civil society, ethical AI, public initiatives and international partnerships.
The summit will also showcase Africa’s creativity and innovation through the “Innovations for the Future” exhibition, the contemporary African art exhibition “Unity,” and the international exhibition “The World Paints Happiness.”
Another featured initiative is “The Zambezi River: Economy, Society, Soul,” an international interdisciplinary project exploring the river’s socioeconomic importance across Angola, Botswana, Mozambique, Namibia, Zambia and Zimbabwe, highlighting the shared heritage and development potential of one of Africa’s most important waterways.
The event will conclude with the adoption of the African Communiqué, reflecting the summit’s shared vision for stronger international cooperation, sustainable development and people-centred leadership.
Tsegaye Chama, General Secretary of the Global Black Centre, promised that, “The Summit will be delivered with exceptional distinction, reflecting the magnitude and spirit of the World Peoples Assembly. It embodies a unity that is not transactional, but purposeful and conscious, a unity that shapes new contours for a world that works for all peoples of the World.”
As delegates prepare to arrive in Addis Ababa, anticipation continues to build for what promises to be one of Africa’s most significant international gatherings of 2026—one that will place the continent firmly at the centre of global conversations about the future.
World
Nigeria Leads Africa in Equity Funding as Startup Investment Hits $254m in H1 2026
By Adedapo Adesanya
Nigeria regained its position as Africa’s leading destination for equity startup investment in the first half of 2026, raising $214 million in equity financing and a total of $254 million across equity and debt, according to the latest Africa: The Big Deal report.
The report, titled H1 2026: Mapping the Money, showed that Nigeria ranked second on the continent in total funding, behind Egypt, which attracted $327 million, while Kenya and South Africa followed with $126 million and $83 million, respectively.
However, the report noted that Egypt’s top position was largely driven by a single fundraising by electric mobility company Spiro, which secured $327 million, including $270 million in equity and $57 million in debt. Excluding debt financing, Nigeria emerged as Africa’s largest equity funding market in the first six months of the year.
According to the breakdown by Africa: The Big Deal, Nigeria’s equity funding of $214 million was higher than Egypt’s $183 million, while South Africa and Kenya attracted $66 million and $46 million, respectively.
Beyond funding value, Nigeria also led the continent in the number of startups that raised at least $100,000 during the review period, reclaiming the top spot after what the report described as an “underwhelming” second half of 2025.
The publication observed that Nigeria’s fundraising performance has remained relatively stable over the past few years and exceeded the $250 million mark for the first time since 2022, pointing to renewed investor confidence in the country’s startup ecosystem.
It also found that while the Big Four startup markets—Nigeria, Egypt, Kenya and South Africa—continued to dominate Africa’s investment landscape, their combined share of total funding stood at 58 per cent in the first half of 2026.
“Zooming back on the Big Four (110 out of 190 $100k+ deals, i.e. 58%), Nigeria is head and shoulders above its peers, with Egypt and Kenya almost tying, and South Africa in fourth position again,” the report noted.
The report highlighted contrasting performances among the continent’s largest startup ecosystems. While Nigeria and Egypt maintained strong funding momentum, Kenya recorded its weakest funding performance since early 2021 after a strong second half of 2025, and South Africa failed to attract $100 million in funding during the period despite leading the continent a year earlier.
Africa: The Big Deal also noted a broader shift in investor behaviour, with funding increasingly concentrated in larger transactions while early-stage investments continued to decline. According to the publication, the drop in smaller funding rounds reflects growing concerns about limited capital available for early-stage startups across Africa.
World
SCRYPT Expands Stablecoin Settlement Infrastructure to East Africa
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.”


