World
West Attempting to Maintain Neocolonial Empire in Africa—Russia
By Kestér Kenn Klomegâh
Mikhail Bogdanov, Deputy Minister of Foreign Affairs of the Russian Federation; Special Presidential Representative for the Middle East and Africa, has offered excellent directions into Russia’s policy implementation in Africa within the context of the emerging new world order.
The changing geopolitical situation is often discussed in relation to Africa, officials always attempt to point out what and how Africa should play its role, especially in dealing with external partners.
Russia and China are building a relationship of fair competition in Africa, Bogdanov said in an interview in late February with TASS, adding that Moscow and Beijing do not share the approaches of former Western colonial powers. That said, the Russian side has something to offer to African partners in the economic sense now.
“The policy of Russia, same as China, which is Africa’s time-tested partner, is pragmatic and naturally based on the balance of national interests. We are building an equitable relationship, being respectful of the sovereignty of foreign countries and their integral right to determine their domestic and international policy. Meanwhile, fair competition is always relevant. This is what makes Russia’s fundamental approaches different from those of former Western colonial powers,” he noted.
He says the issue is not about the West’s attention to the continent that has intensified recently but about desperate attempts by the collective West to maintain its neocolonial empire.
“Today, especially after Russia and the West came to a parting of the ways through no fault of ours, Western countries are facing an urgent necessity to replenish essential resources that have been lost, for supporting their industry and for economic development and, if possible, with minimum expenses.
“Their goal in Africa now is to solve existentialist issues, so to say. It can be seen in the tools they use, mostly ‘unsportsmanlike’, including ‘laws’ restricting Russia’s activities in Africa, sanctions, stop lists, threats, blackmail,” he said.
Writing under the title “Russia’s Policy Towards Africa” back in September 2019, Institute of African Studies researcher Olga Kulkova explicitly explained that Russia has greatly strengthened its presence in Africa over the past few years. It has signed new agreements with several countries there, including cooperation in the field of military technology, security and counterterrorism.
On the positive side, this has reinforced Russia’s traditionally friendly ties with its African partners, after its sudden withdrawal from Africa in the early 1990s, which was, indeed, a strategic blunder. But, Russian authorities have become fully aware of these primary policy mistakes. Now is the time to revitalize and rebuild the old ties, and also important to forge new ones. Russia’s policy towards Africa can be described as unique, but it has fewer financial and economic opportunities for implementing its policy on the continent compared to that of China.
Last February, writing under the title “What Africa Expects From Russia”, Valdai Club expert Nourhan ElSheikh clearly noted that the Russian-African partnership is the core of a new multipolar world order that would be more fair and just for all. Africa expects a lot from Russia. Historical cooperation between the two and the huge capabilities that Russia possesses confirm its ability to meet these expectations and move forward together in the future.
Africa is a promising continent with broad prospects for economic growth. It is very rich in both natural and human resources. Africa has 30% of the world’s total minerals, 10% of oil reserves, 8% of gas reserves, and nearly 60% of the world’s untapped agricultural area. By 2040, Africa will have the largest labour force, as a quarter of the world’s population will live there; with young people accounting for more than 60%.
Although Africa possesses all the requirements needed for development and economic breakthroughs, it still suffers from hunger, poverty, poor living standards, and political instability. Over long decades of colonialism, Western countries exploited Africa and drained its wealth without investing in any development. Africa needs fair and balanced partnerships in order to help it face its problems and move toward the future.
African countries deeply trust Russia as a reliable partner. This reliance is rooted in the Soviet era when Moscow was the only supporter of the African national liberation movements. Russia provided the newly independent African countries with economic, military and technical assistance.
Russia is also distinguished by its cooperative rather than competitive approach to the continent. Unlike Western countries, which view Africa as an arena for international competition, Moscow seeks development partnerships based on a win-win principle. It bases its cooperation on mutual respect of interests, non-interference in internal affairs, and consolidating peace and stability.
In this context, Africa looks forward to an active partnership with Russia in confronting its crises and launching economic and social development according to the following priorities. Chief among these is the food crisis, which is considered the most pressing in Africa. More than a third of people in the world who suffer from chronic hunger and undernourishment are in Africa. Cooperation with Russia is crucial in overcoming this existential crisis.
In the short term, this means providing African countries with Russian grain and fertilizers. In the long term, it entails helping Africans in developing their agricultural sector and providing them with the required technology. A number of African countries have fertile soil and sufficient water resources. But they are in dire need of investment in technology, not only to satisfy their nutritional needs but to become regional centres for Russian grain production.
Providing investment and technology for the energy sector is also an African priority. African countries need to exploit their natural resources in the field of energy. This includes oil, gas, new and renewable energy, and hydroelectric power, as many countries in the continent, especially Sub-Saharan ones, suffer from a severe deficit in electricity.
Likewise, cooperation is needed in mining and the extraction of Africa’s huge reserves of minerals. Linked to this is the development of industries that depend on the natural resources that Africa possesses. The same priority can be given to the development of both the education and healthcare sectors, as well as transport infrastructure, especially railways. Ignorance and disease are fundamental challenges to any development efforts in Africa.
In parallel with those development areas, it is necessary to work on ensuring peace and stability. Africa suffers greatly from political instability, as well as from internal and regional armed conflicts. There is no sustainable development without stability and peace.
Russia has played an important role in restoring stability and combating terrorism in a number of African countries, including Mali and the Central African Republic. Russia has actively participated in peacekeeping forces in Africa. It is important to enhance Russia’s role as a guarantor of peace and stability in Africa. African countries rely on Russia as an honest partner that sincerely supports peace and stability.
Many African experts, however, believe that Russia is doing little with investment in Africa. Unlike Western countries, European Union members and Asian countries, which focus particularly on what they want to achieve with Africa, Russia places anti-colonial fight at the core of its policy.
Long before it held its first summit, Russia had made several pledges and promises and held several meetings with several delegations. Records show that 92 bilateral agreements were signed at the end of the Russia-Africa summit in 2019 have not been implemented, and yet officials are still and passionately looking for more agreements with Africa.
Worthy of understanding is the fact that Africa has attained its political independence far back in the 60s, and many of them are striving to diversify their economies, build infrastructure, and modern agriculture to ensure food security and push for industrializing using vibrant human resources. These African countries are ready to cooperate with potential investors with funds for transforming the resources, especially with the evolving African Continental Free Trade Area (AfCFTA) initiated by the African Union.
South African Institute of International Affairs (SAIIA), a policy think tank, also suggested that Africa needs to forge a unified approach to Russia before the 2023 Russia-Africa Summit.
In its researched policy report, the think tank operators have argued that Russian Foreign Minister Sergey Lavrov’s visits to Africa, last year and early this year, highlighted the need for the development of a Russian continental strategy to avoid becoming a pawn in global power games.
Those trips have underscored the importance for African countries to develop well-crafted positions when engaging with external powers. Without this, Africa risks being caught up in geopolitical disputes, diminishing its global voice and agency. Lavrov reinforced the criticism of Western policies in Africa.
Russia has been ramping up its military relationships with several African countries for at least a decade. Its approach is often influenced by close ties between Russia’s arms industry and its infamous private security contractor, the Wagner Group. According to Sipri, a Swedish think tank, Russia was the largest arms supplier to Africa in 2021, accounting for 44% of continental imports of major arms. In total, Russia has signed military agreements with more than 20 African countries.
While Russia is not among Africa’s largest trading partners, its presence cannot be discounted. It is estimated that in 2020, Russia’s trade with African countries amounted to more than $14 billion, with Egypt accounting for about 30% of this total. But, while the Russian economy and the size of its military are much larger than that of any single African country, collectively, the continent can hold more sway. In 2021, Africa’s collective GDP was around $2.7 trillion, while Russia’s amounted to about $1.7 trillion.
It is not hard to see why taking sides is problematic for African states. Perhaps, the most important way forward is for African countries to work in cooperation with one another. Thus, developing relationships beyond short-term impact is critical to ensure the continent is not dominated by other global powers’ interests.
Overcoming passivity could involve the following steps: Africa urgently needs a Russia strategy. To that end, the AU can — and should — engage with its members in a more structured manner and help them put together joint positions on critical issues related to Russia and other partners, like the US, China, Europe and others.
The first step in this direction should be strengthening the AU’s Partnership Management and Coordination Division. The division can serve as a more appropriate place for reflection on how its member states can better advocate for the continent’s needs and ensure African voices are heard in discussions with countries like Russia.
Russia’s role in Africa is expected to remain controversial and contested. It is clear that Russia knows what it wants from the continent: access to markets, political support and general influence. Now it is time for the continent to clarify what it wants from Russia in return. In the lead-up to the 2023 Russia-Africa Summit, the AU and its member states should strengthen their positions regarding external partnerships. If not, the continent risks being left behind and used as a pawn in an increasingly divided global order.
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.”
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.


