World
Valdai Forum In Tanzania: African Expert On Dynamics And Perspectives Of Russian-African Relations
By Kestér Kenn Klomegâh
The second Russian-African conference of the Valdai Club Foundation was held on July 24 in Dar es Salaam, Tanzania in East Africa. Held under the theme: “Russia – Africa: Strategy for Cooperation in a Multipolar World,” the conference gathered more than 40 experts from Russia and Africa. Its primary aim was to identify new tasks for the research activities on African topics, the areas of substantive cooperation and aspects of new partnership.
The Valdai Club’s pre-conference report underscored the fact that already a year after the St. Petersburg summit, “a confidential and frank expert dialogue seems appropriate in promoting mutual cooperation and effectively implementing the tasks set at the summit.” Reminder: St. Petersburg summit declared ‘Action Plan 2023-2026’ within which to implement those several agreements signed.
In this insightful policy interview, Mikatekiso Kubayi, Researcher at the Institute for Global Dialogue associated with UNISA, Research Fellow: Institute for Pan African Thought and Conversation, Doctoral Candidate, Political Studies, University of Johannesburg, after the 2nd Russian-African conference in Tanzania, offers his expert thoughts and, further discusses the results, expectations and aspects of the challenges that starkly remain in the Russian-African relations. Here are the interview excerpts:
As one of the participating experts, what were some of the most significant questions raised during the July 24th roundtable discussions held in Dar es Salaam, on Russia and Africa?
There were many interesting and important questions. Chief among them were questions on the exact priority areas for African development, technical capacity and development, Financing, and Trade. The roundtable sought to find and even innovate opportunities for collaboration and how to improve mutual gain from each other’s competitive advantage. This was at both bilateral and multilateral levels.
Why Russia’s efforts to regain its economic influence have achieved little tangible (visible) success, why is soft power softer than in Soviet days?
The question is, ‘What would constitute visible success?’. The history of Russia’s engagement with Africa is well recorded. The development of global trade and the politics of global finance is also well-recorded. Africa’s challenges have been and continue to occupy high priority in the global discourse on global reforms, debt and its stifling servicing costs, and so on. Would a visible success constitute Africa’s overnight transformation into the Africa we want? Perhaps the focus should be on Africa’s interest in genuine development partnerships rather than be ‘influenced.’ That is what the relationship is about.
In your expert view, Russia’s economic power, its global status and its staunch membership of the ‘informal association’ – BRICS, how did the Dar es Salaam gathering assess its current investment and business engagement with Africa?Russia is keen to participate in areas that African partners identify as a priority. Technology, Agriculture, Energy, Education, and Health are priority areas. Opportunities for joint efforts, such as in R&D and other collaborative efforts, are explored.
What were some of the setbacks and obstacles identified? Did the gathering also map out strategic pathways to enhance engagement in the economic sectors in Africa?
I believe this was the first roundtable organized in Africa by Valdai in this format and on this issue. The first step has been to engage and explore what has not been done and what can be done. These are two economies with limited financial resources yet many human (intellectual) and natural resources endowments; notwithstanding sanctions and developmental challenges, there was a shortage of joint exploration of priority areas of cooperation, coupled with consistent effort.
We’ve been talking about economic diplomacy between Russia and Africa. And it’s also important to look at the relations as a two-way street. Could you please explain possible reasons why African economic presence is extremely low, compared to Asian countries, in the Russian Federation?
One could argue that its limited presence in the Russian Federation mirrors its development, levels of trade, and other areas that are accepted as needing improvement. The Asian continent has India, China, Singapore, Indonesia, Malaysia, and other economies that have gone through massive development spurts and can leverage particular competitive advantages gained. Africa will also get there.
How do you see the future pathways? What would you finally say about the results of the Valdai’s conference in Dar es Salaam, under the theme: Russia – Africa: Strategy for Cooperation in a Multipolar World?
A lot was identified as actionable areas. These areas will be carried forward as policy recommendations, material for track one diplomacy to take forward and for track two diplomacy to research and develop further in areas such as the application of technology in both regional and national value chains, investments in domestic production according to identified priority and strategic areas, joint efforts such as in research and development.
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.
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.
