World
Stakeholders Gear up for St Petersburg International Economic Forum 2018
By Kester Kenn Klomegah
The St. Petersburg International Economic Forum 2018, one of the annual international platforms that brings together political, industry and business leaders to discuss the most pressing issues affecting global economics, development and finance, will take place on May 24 to 26 in St. Petersburg, Russia.
Ahead of the forum, the official website of the President of the Russian Federation has published his welcome greetings to participants, organisers and guests. In his greetings, Putin expressed his confidence that ideas and initiatives to be developed during the forum would facilitate the recovery and growth of the world economy.
“By harnessing the wealth of scientific and technological potential which is rapidly expanding in digital and other areas today, we can improve quality of life and boost stable and harmonious development in all nations and across the world as a whole,” he stressed in his message.
“And it is crucial that we strive towards increasing mutual trust, promoting wide-ranging integration processes, realising large-scale and promising projects. Russia is always open to this kind of partnership and cooperation,” Putin said.
According to RosCongress, the event organiser, about 15,000 guests from more than 140 countries expected to participate in the forum. France, China, India and Japan as guests of the forum will have their own exhibition pavilions on site, which will house a presentation area and a business space for delegations and representatives to interact with business partners from other countries.
Delegations from Germany, Switzerland, Sweden, Greece, Italy, India, Saudi Arabia, Qatar, Israel, Vietnam, USA, Canada, African countries and others will participate in various business events. BRICS member states (Brazil, India, China and South Africa) have been prominently represented there.
For foreign participants, including Africans, the forum is very useful for networking and discussing business strategies, and serves as an important study platform useful for deepening knowledge about the economy and possible ways of transacting business in Russia.
Series of official speeches and panel discussions will undoubtedly dominate the three-day event. The special sessions on business and investment opportunities will include the “Russia – Africa Business Dialogue” that has generated increasing interests among Russian and African businesses, international companies, African governments and institutions.
According to Anton Kobyakov, Adviser to the President of the Russian Federation and Executive Secretary of the SPIEF Organising Committee, the upcoming forum will hold two special celebrations marking the occasions related to the continent: Africa Day and the 55th anniversary of the African Union.
“Economic cooperation between Russia and Africa has been developing rapidly during recent years. We have seen a positive dynamic in trade with Ethiopia, Cameroon, Angola, Sudan, Zimbabwe and other countries”, says Kobyakov. “I strongly believe that Russian-African cooperation at SPIEF, Russia’s largest forum will stimulate trade and economic ties, as well as investment activity.”
Kobyakov further disclosed that during the event, experts will share best practices and discuss new opportunities for implementing joint projects in the BRICS countries. Sergey Katyrin, the President of the Chamber of Commerce and Industry of the Russian Federation, will moderate the session.
“The paramount task for BRICS is to continue strengthening efforts aimed at solving international issues in the spirit of unity, mutual understanding and trust. The prospects for cooperation and joint efforts of the BRICS member states will be discussed at the SPIEF 2018. I am confident that this will give momentum to further development of a fruitful dialogue on key world issues,” Kobyakov says.
Over the past few years, Russian authorities have made relentless efforts toward raising Russia’s political influence and economic cooperation in some African countries. Thus, discussions at the forthcoming forum will undoubtedly focus on reviewing the past and the present as well as proposing practical and the most effective ways to facilitate investment activities and that might include promising areas such as infrastructure, energy and many other sectors in Africa.
On her part, Alexandra Arkhangelskaya, a Senior Researcher at the Institute of African Studies and a Senior Lecturer at the Moscow High School of Economics said in an interview with me that Russia and Africa needed each other – “Russia is a vast market not only for African minerals, but for various other goods and products produced by African countries.”
Currently, the signs for Russian-African relations are impressive – declarations of intentions have been made, important bilateral agreements signed – now it remains to be seen how these intentions and agreements will be implemented in practice, she pointed out in the interview.
The revival of Russia-African relations have be enhanced in all fields. Obstacles to the broadening of Russian-Africa relations have be addressed more vigorously. These include, in particular, the lack of knowledge or information in Russia about the situation in Africa, and vice versa, suggested Arkhangelskaya.
“What seems to irk the Russians, in particular, is that very few initiatives go beyond the symbolism, pomp and circumstance of high level opening moves. It is also still not clear how South Africa sees Russia’s willingness (and intention) to step up its role in Africa, especially with China becoming more visible and assertive on the continent,” said Professor Gerrit Olivier from the Department of Political Science, University of Pretoria, in South Africa.
Today, Russian influence in Africa, despite efforts towards resuscitation, remains marginal. Given its global status, Russia has to be more active in Africa, as Western Europe, the European Union, America and China are, but Russia is partially absent and playing a negligible role, according to the views of the retired diplomat who served previously as South African Ambassador to the Russian Federation.
“Russia, of course, is not satisfied with this state of affairs. At present diplomacy dominates its approach: plethora of agreements entered into with South Africa and various other states in Africa, official visits from Moscow proliferate apace, but the outcomes remain hardly discernible,” he said.
“The Kremlin has revived its interest on 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,” Professor Olivier wrote in an email query from Pretoria, South Africa.
Last June 2017, the African representatives including heads of state, deputy president, ministers or their deputies, entrepreneurs and diplomats came to the St. Petersburg forum from Angola, Algeria, Burundi, Egypt, Gabon, Guinea, Morocco, Mozambique, Namibia, South Africa and Zimbabwe.
This report was filed in by Kester Kenn Klomegah, an independent researcher and policy consultant based in Moscow.
The headline was cast by Business Post Nigeria
By Kestér Kenn Klomegâh
For the first time in its history, the World Public Summit will be held on the African continent. On 29–30 July 2026, Addis Ababa, the capital of Ethiopia, will host the World Public Summit. Africa — “A New World: Africa in Shaping a Shared Future.”
The Summit is organised by the World Peoples Assembly in cooperation with African partner organisations. It will bring together leaders of public diplomacy, representatives of international intergovernmental and non-governmental organisations, academics, experts, representatives of the education and cultural sectors, youth leaders, socially responsible businesses, media professionals, and civil society institutions from across Africa and other regions of the world.
The World Public Summit. Africa continues the work initiated during the First World Public Assembly “A New World of Conscious Unity,” held in Moscow in September 2025, and serves as one of the key milestones in preparation for the Second World Public Assembly “A New World: Values That Unite,” which will take place in Moscow on 18–19 September 2026.
Today, Africa is emerging as one of the principal centres of global development. Rapid demographic growth, expanding entrepreneurship, strengthening regional integration, rich cultural heritage, and the growing role of civil society institutions make the continent an increasingly important contributor to the future architecture of international cooperation.
The Summit will focus on issues of genuine sovereignty and sustainable development, public diplomacy, preservation of cultural and historical heritage, international cooperation in education and science, youth engagement, innovation-driven development, creative industries, and the formation of new partnerships among countries and peoples.
The main business programme of the Summit will take place on 30 July 2026 at the headquarters of the United Nations Economic Commission for Africa (UNECA) in Addis Ababa. Holding the Summit at UNECA highlights its pan-African dimension and creates opportunities for broad international dialogue on humanitarian cooperation and public diplomacy.
The programme will include plenary sessions, strategic dialogues, and expert panels dedicated to values-based development, education, culture, youth leadership, innovation, and international cooperation.
Participation has already been confirmed by Professor Saidou Madougou, Director of the Department of Education, Science, Technology and Innovation of the African Union; Rita Bissoonauth, Director of the UNESCO Liaison Office to the African Union and UNECA in Addis Ababa; Zuzana Schwidrowski, Director of the Macroeconomics, Finance and Governance Division of UNECA, as well as ministers, leaders of public organisations, and representatives of the business community from a number of African countries.
On the same day, the ADWA Victory Memorial Museum—Ethiopia’s national memorial complex dedicated to the Victory of Adwa and an important centre for preserving the historical memory of the Ethiopian people—will host the award ceremony of the regional stage of the V International Competition “Leader of Public Diplomacy”, followed by a large-scale cultural programme.
One of the key outcomes of the Summit will be the adoption of the African Communiqué, reflecting proposals and recommendations aimed at strengthening humanitarian, educational, cultural, and public cooperation between African countries and other regions of the world.
The outcomes, initiatives, and recommendations were developed during the World Public Summit. Africa will be presented at the Second World Public Assembly “A New World: Values That Unite”, to be held in Moscow on 18–19 September 2026.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Addis Ababa Summit is an important step toward building a new world founded on mutual respect, cultural diversity, dialogue and sustainable development.”
By Adedapo Adesanya
The United Kingdom will get its seventh Prime Minister in 10 years as Mr Keir Starmer announced his resignation on Monday.
The Minister said he is stepping down as leader of the governing Labour Party and will leave office within weeks, scarcely two years after being elected in a landslide.
Mr Starmer says he will remain caretaker prime minister until a new Labour leader is chosen by the party.
Mr Starmer made the announcement after facing growing pressure to hand over to a new leader who can try to revive the government’s flagging fortunes.
He led Labour to a landslide election victory in July 2024, but since then, his popularity and that of the party have plummeted.
His departure was triggered by the victory of Mr Andy Burnham in a special election last week. The popular ex-mayor of Greater Manchester planned to challenge the existing PM for the Labour leadership.
Mr Starmer made the announcement outside the prime minister’s 10 Downing St. residence with a brief statement on Monday.
“The question my party is asking now is whether I am best placed to lead us into the next general election,” Mr Starmer said. “I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.
Mr Starmer is the sixth prime minister in a decade to stand outside 10 Downing Street and announce a premature departure.
It comes the day before Britain marks the 10th anniversary of its vote to leave the European Union, a decision that still affects the country’s economy and politics.
Over the past decade, 10 Downing Street has had six occupants, including Mr David Cameron, who left office in 2016 after the Brexit referendum and was succeeded by Ms Theresa May. She was followed by Mr Boris Johnson, whose tenure covered Brexit and the COVID-19 pandemic. After Mr Johnson came Ms Liz Truss, whose 49-day premiership was the shortest in British history. Mr Rishi Sunak then took office before being succeeded by Mr Starmer, the outgoing occupant of Number 10.
By Aduragbemi Omiyale
A financing facility of up to $60 million has been secured by AXIAN Energy, the energy division of the AXIAN Group.
The funding package was provided by MCB, one of the leading financial institutions in the Indian Ocean region.
It comprises a $40 million revolving credit facility with a three-year tenor and extension option, and $20 million in unfunded instruments, providing AXIAN Energy with enhanced financial flexibility, enabling the company to rapidly mobilise resources and seize development opportunities across its target markets.
The energy firm is expected to use the capital to deliver large-scale energy infrastructure projects across Africa.
Over the past two years, AXIAN Energy has significantly accelerated its growth by expanding its renewable energy project pipeline, with solar projects currently under development in Senegal, Benin, Zambia, Côte d’Ivoire, Madagascar, and Burkina Faso.
Building on this momentum, AXIAN Energy now operates a portfolio comprising 350 MW of installed renewable energy capacity, supported by 77 MWh of energy storage capacity, positioning the AXIAN Group as a major contributor to Africa’s energy transition.
The chief executive of AXIAN Energy, Mr Benjamin Memmi, said, “This transaction marks a key milestone in AXIAN Energy’s growth trajectory. It provides us with the financial capacity to sustain the momentum we have built over the past two years, further strengthening our renewable energy portfolio and expanding our presence across new African markets.”
Also commenting, the Global Head of Structured Finance at MCB, Mr Mathieu Delteil, said, “We are proud to support AXIAN Energy in structuring this facility, reaffirming our commitment to enabling transformative projects across Africa.
“By leveraging our sector expertise and deep understanding of regional markets, we have delivered a tailored financing solution that aligns with AXIAN’s long-term renewable energy ambitions.
“This partnership highlights our role as a strategic financial partner, mobilising capital towards investments that drive sustainable growth and accelerate the energy transition across the continent.”
The financing agreement between the two organisations strengthens their long-standing relationship because it is driven by a shared commitment to supporting infrastructure development and economic growth across Africa.
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