Russia-Africa Summit: Russia’s New Chapter on African Trade and Economic Collaboration -By Kestér Kenn Klomegâh

For both Russia and Africa, the time has arrived to face emerging geopolitical realities. With Africa’s engagement, Russia has absolutely adequate information necessary for concrete economic collaboration, well-researched information on wide range of issues currently facing the African continent, as well as measures already taken by individual countries, regional organisations/regional blocs of Africa, and pan-African institutions to address existing trade, investment and economic challenges. In addition, the two Russia-Africa summits (October 2019 and July 2023) have thoroughly analysed the causes of African problems, their dynamics, and prospects for their resolution. Russia also held two foreign ministerial conferences, in St. Petersburg and in Cairo, Egypt.

For nearly two decades, Moscow has been consistently signaling and promising trade preferences for African countries at several conferences, reiterating commitment during bilateral meetings with African foreign ministers on working visits to the Russia’s capital, Moscow. Until today, after two Russia-Africa summits, it is hard for Russian authorities to introduce new measures that could change bilateral trade paradigms. Russia is yet to experience the new global dawn, with key foreign players armed with strategies to win the heart of Africa. Russia-Africa trade grossly lacks an attractive regulatory environment, in comparisons with measures adopted by China and India. While China removed tariffs (implementing zero-tariffs for imports from Africa), India offered trade preferences for African exporters. At least, with geopolitical changes that is impacting on trade and economic cooperation. The United States, for instance, has also extended for Africa its African Growth and Opportunities Act (AGOA).

The AGOA, basically, offers many African countries trade preferences in the American market, earning huge revenues for their budgets. Financial remittances back to Africa play mighty roles across the continent from the United States. In its report released in June 2024, the World Bank indicated that, despite the geopolitical uncertainties, instability and challenges, sub-Saharan Africa’s remittance flow reached $54 billion in 2023.

In official statements, Moscow has reiterated to address the prevailing trade imbalance between Russia and Africa. It has been thoroughly discussed during the previous summits, and at the St. Petersburg International Economic Forum (SPIEF). As part of this effort, it was indicated that plans were underway to establish direct trade routes and encourage greater participation of African producers and exporters in the Russian market. The main reason: the Russian side is strongly interested in reducing the current trade imbalance. But, one of the key challenges remains is logistics, which significantly increases costs and undermines competitiveness. This situation also applies on the opposite direction, Russia trade with Africa.

Both Russian and African trade experts pointed out, the regular participation of Russian business structures in such business events, such as bilateral summits and SPIEF, would raise awareness among potential exporters and importers of the opportunities offered by suppliers, which would ultimately contribute to reducing trade imbalances. Until today, trade imbalances persist, despites several discussions and bilateral agreements that were signed. That noticeable lapses in the bilateral trade front, Russia plans to hold its third summit in the fall season of 2026.

Supporting Africa’s Trade and Industrialisation

In an exclusive interview with the Voice of Nigeria in Abuja, Russia’s Ambassador to the Federal Republic of Nigeria (FRN), Andrey Podelyshev, said; perhaps, one of Russia’s key cardinal foreign policy objectives is to support the rapid industrialisation of countries in the global South through concepts like “partnership for development”, “mutual benefit”, or “anti-neocolonial cooperation”.

Noticeably, there are other concepts that feature prominently in Russian authories public speeches: multipolarism and economic diversity, but Russia still demonstrates a pack of restrictive approach as it was during Soviet era. Russia lacks direct flights to the continent, while sluggish in developing sea logistics with Africa. In a multipolar environment, African entrepreneurs can play trade-partnership with other potential global enthusiasts. Russia, absolutely, owes Africa nothing, and it did not colonise Africa. Notwithstanding objective analysis, Russia has to recognise the most striking present-day trading and economic realities emerging in the 21st-century world.

From May 2026 China implements new trade measures aimed at forging directions with Africa. The China-Africa’s policy on ‘zero-tariff’ deal or agreement could reshape trade with Africa, that could widely drive investment patterns across the continent. Chinese are serious investors, highly committed to support Africa with loans from policy banks. Russian financial institutions largely uninterested in investing in Africa, as indicated clearly at the VTB’s ‘Russia Calling’ investment forum. The Russian bank reports further show Africa as the riskiest investment marketplace, with lowest motivation.

In comparision, Japan during its TICAD-2025 offered Africa $5.5 billion for investment, trade and development. Amid the current competition, Turket is faster and smarter than Russia. At, least, Turkish airlines connect African cities, facilitating movement of entrepreneurs and that demonstrate a resonating influence. It simply show preparedness in promoting its policy credibility across Africa. Nevertheless, Africans highly appreciate Russia’s symbolism and geopolitical solidarity. Soviet’s assistance gifted, thousand years ago, are vividly praised and brought forth consistently into present memory. Until today, Russia has not, publicly, shown any financial mechanism for its policy implementation in Africa.

In an interview published in July 2025, Fyodor Lukyanov, the editor-in-chief of Russia in Global Affairs, chairman of the Presidium of the Council on Foreign and Defense Policy, during the 3rd Russian-African Conference held in Pretoria, while assesses the evolving geopolitical dynamics and its impact on Russia’s policy with Africa, blankly said the political situation in which Russia finds itself stimulate the search for partners in Asia and Africa. Even before the crisis in relations between Russia and the West began, Moscow had begun making efforts to restore and expand relations with Africa. Africa is a huge consumer market that needs to be developed. The potential is almost impossible to overestimate. Against the backdrop of growing general egoism, one must be reasonably egoistic. The legacy of previous decades is quite favorable, mutual relations are free of prejudices. This is obvious to everyone. But let’s be honest, practical cooperation in the economic sphere lags behind the development of political relations. In conclusion, it can be said that Russia is now accumulating experience and analysing the opportunities to work in new Africa.

Analysts noted, in separate interviews and discussions for this particular article, that Russia and African countries have growth potential through trade diversification and industrial cooperation, but Russia’s geopolitical constraints are shaping the economic trajectories. Russia’s growing engagement with Africa presents enormous opportunities, and particularly coming on the heels of African leaders’ acceptance of their geopolitical ‘re-awakening’ and the emerging new economic architecture.

Barking at Africa with Promises

Foreign Affairs Minister, Sergey Lavrov, has repeatedly stated in his speech to African diplomats that Russia was prepared to consider new initiatives to improve trade between the two regions. As far back in May 2014, Lavrov wrote in his opinion article: “We attach special significance to deepening trade and investment cooperation with the African States. Russia is ready to provide African countries with extensive preferences in trade.”

The Russian Foreign Affairs Ministry has posted an official report on its website that “traditional products from least developed countries (including Africa) would be exempted from import tariffs. The legislation stipulates that the traditional goods are eligible for preferential customs and tariffs treatment.”

Lavrov underlined that Russia and Africa have resolved to move from mere intentions to concrete actions in raising the current bilateral trade and investment to appreciably higher levels in the coming years. And as a first step, Russia plans to offer trade subsidies and investment guarantees as an emergency support for Russian companies to penetrate into African market, part of the strategy for strengthening economic ties between Russia and Africa, according to the report by the Ministry of Foreign Affairs.

The report noted further that Africa has huge natural resources still untapped, all kinds of emerging business opportunities and a growing consumer market due to an increasing population. It has become a new business field for global players. “There is a lot of interesting and demanding work ahead, and perhaps, there is a need to pay attention to the experience of China, which provides its enterprises with state guarantees and subsidies, thus ensuring the ability of companies to work on a systematic and long-term basis,” Lavrov said.

According to Lavrov, the Russian Foreign

Ministry would continue to provide all-round support for initiatives aimed at strengthening economic relations between Russia and Africa. “Our African friends have spoken up for closer interaction with Russia and would welcome our companies on their markets. But much depends on the reciprocity of Russian businesses and their readiness to show initiative and ingenuity, as well as to offer quality goods and services,” he stressed, and urged Russian entrepreneurs, both small and medium-sized, to race against other foreign players to get access to the African markets and its trading resources, be fearless of competition and rivalry but play with adequate caution to save Russia’s image in continental market.

“We find it important to estimate options for attracting small and medium-sized businesses to African markets. This segment of our cooperation is still insignificant. We will rely on the existing foundation of Russian-African cooperation. We have significantly intensified political dialogue, cooperation between parliaments and civil societies,” Lavrov explained.

“The positive groundwork allows us to convert this into increasing trade, economic and investment exchanges, to expand banking cooperation, the implementation of mutually beneficial projects,” he underlined, and the fact that trade and economic relations have reached a new level, the Russia-Africa summits would give a special impetus to these processes.

Trade and Economic Agenda

On 18-19 March 2026, the Centre for Transition Economy Studies of the Institute for African Studies of the Russian Academy of Sciences held its latest scientific conference on “Industrial Development Strategies of African Countries” dedicated to Africa’s industrial development, the modernization of the African production base, and the potential for Russian-African cooperation in this area. There is available the full-text database on African development strategies. There are also strategic information on the development of the manufacturing and extractive industries, special economic zones, energy and transport infrastructure, digitalization, and the agro-industrial complex.

Topics and Key Economic Sectors Reviewed included:

1. Continental, regional and national programs and plans of industrial development in Africa. Prospects of continental and regional production chains.
2. Study of the manufacturing market in African countries: manufacturing and agro-industrial complexes
3. Energy, transport, and digitalization: necessary infrastructure for industrial development.
4. Interests of Multinational Corporations in Africa: conditions, forms of activities and geographical distribution. The role of free economic zones.
5. Government policy regarding Multinational Corporations and control over export-import flows.
6. The role of international organisations and activities of external actors.
7. Possible areas and prospects for expanding mutually beneficial cooperation for Russian companies in Africa.

Why Russia’s Performance Matters

That however, the current level and scope of Russian economic cooperation, particularly trade with Africa, unfortunately did not place Russia in the top five of the foreign players in Africa.

During the first Russia-Africa summit held in 2019, President Vladimir Putin estimated trade to rise, as smartly and significantly as possible, upto $40 billion by the second summit that was in July 2023. But for now, Russia’s trade with Africa only stands at $26 billion in 2025. That is very understandable. Still, African trade has been minimal in the Russian Federation. And unbelievably, African trade figures with Russia are hard to find from both African and Russian sources.

In practical terms, official policy rhetoric would not automatically promote trade, but rather systematic reviewing the rules and regulations that can change trade relations. For trade relations between Russia and Africa to improve appreciably, granting trade preferences to African countries – for example, tax exceptions or reductions, among other measures. This can become a practical step to strengthen trade relations with Africa. In addition, there should also be state support to bolster private African entrepreneurs’ efforts not only to raise their economic presence but also to facilitate in making solid inroads into the Russian market. These measures have been repeatedly underlined as opportunities for Africa to weave its way up the value chain to accelerate economic growth in the Russian Federation.

Meanwhile, the emphasis is on pushing for prospects of a single continental market, the African Continental Free Trade Agreement (AfCFTA). With this trading goals in mind, Africa as a continent has to integrate, promote trade and economic cooperation, engage in investment and development. In that direction, genuine foreign partners are indiscriminately required, foreign investment capital in essential for collaboration as well as their entrepreneurial skills and technical expertise. For instance, developing relations with Asian giants such China and India, the European Union and the United States. A number of African countries are shifting to the BRICS orbit, in search for feasible alternative opportunities, for the theatrical trade drama. In the Eurasia region and the former Soviet space, Belarus, Kazakhstan and Russia stand out, as potential partners, for Africa. As widely known, President Putin expresses the highest affection for changing the situation and strengthening commitment toward improving the economic conditions for Africa’s estimated 1.4 billion population.

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