The African continent is a regional region with many prospects for development in the near future, since it is a region consisting of a mixture of countries with extremely large natural wealth – significant sources of oil (especially 9.7% of the world’s proven oil), natural gas (specifically 7.8% of natural gas reserves) and other minerals present in Africa (in total about 30% of global resources) – but also a region with a particularly important geopolitical position on the world stage. Indeed, some African countries, such as Nigeria, South Africa and Egypt, already hold the role of regional power for their wider African neighbouring region due to their special geopolitical position.
The international position of Africa in our century has been affected by a network of important and at the same time positive internal developments. The end of particularly bloody civil wars and in general their reduction compared to the past, the important reforms at regional and national level, the establishment of new structures such as the Pan-African Parliament, the “Council for Peace and Security”, the “African Court of Human Rights” etc. as well as the increasing trend in the rates of economic development of most African countries, which in turn strengthened the continent’s middle class, were the main factors in upgrading the image of African countries at the global level.
The states of Africa, moreover, freed from their colonial past, have now turned into a strong field of competition but and large investments by many companies that have opened new businesses there. Foreign investment companies such as the Carlyle Group and Emerging Capital Partners have invested large amounts of capital in the African territory. According to statistical forecasts, in Africa by 2030 a social layer of 130,000,000 new consumers will be created. During the same period, in the US, new consumers will only increase by 25,000,000.
In the African economy, there are already a number of important multinational African companies in financial services and banking (Equity Bank, Ecobank), in the industrial sector (Chandaria, Dangote), in the wholesale sector (METL), in the retail sector (Soprite, Nakumatt) and in the telecommunications sector (MTN), which have managed to raise significant capital from the African stock markets in which they participate.
By 2040, more than 500,000,000 inhabitants will settle in African cities, which will lead to tectonic changes in the economy, where agricultural production and the extraction of mineral raw materials will not be the dominant activities and their place will be taken by the offering of services. Apart from everything else, by 2050, the population of Africa will reach 2,500,000,000 people, that is, it will double.
Russia, which after the dissolution of the Soviet Union managed to stand on its own two feet and is now one of the most powerful states with a major role in international relations, explicitly states in its “Foreign Policy Doctrine”, as it was made public in March of 2023, that its primary objective is “to increase trade and investment” on the African continent.
The low level of cooperation between Russia and the states of the African continent is based on two main causes. Firstly, there has never been any link between Russia and Africa, as is the case with Western European nations, which are closely related to African countries by language, culture and history, and secondly, Russian business had not seen Africa as business destination for a long time.
Therefore, business relations between Russia and African states could develop in areas such as energy and food production, but also in the construction sector, which is a great business opportunity for Russian construction companies given the low level of infrastructure development of African states.
It is worth noting that on October 22-23, 2019, the first Russia-Africa economic summit took place in the Russian city of Sochi on the eastern coast of the Black Sea, with the participation of 42 leaders of African states, and with Russian President Vladimir Putin and Egyptian President Abdel Fatah al-Sisi to co-chair. During the session, dozens of agreements and memoranda of cooperation were signed with the Russian state, with state and private companies.
However, although Russia-Africa trade was only $15.6 billion in 2021, according to the IMF, Russia exerted great influence. For the sake of comparison, it is worth mentioning that in 2021 the European Union exported 300 billion to Africa, while the US exported 65 billion. In contrast, China had in 2021, 254 billion of exports to the continent and in 2022, 282 billion.
Putin’s “anti-colonial” message, was formulated in his related speech, resonates in countries where suspicion of former colonial powers is deep-rooted. Thus, in March 2022, 25 African countries either abstained completely or abstained from voting on a UN resolution condemning Russia’s invasion of Ukraine.
Apart from the fact that Russia has a military presence in African countries, it is also worth noting that it has been one of the main exporters of weapons systems to Africa. By February 2022, 50% of the equipment on the continent was Russian-made. Among Russia’s best customers were Algeria, Egypt, Sudan, Angola, Nigeria and Mali. The main categories of equipment that Russia exported to Africa were fighter aircraft, helicopters, battle tanks, radars, missiles and multiple launcher systems. In 2022, Russia lost the first place to China.
At the same time, Russia has inaugurated a whole network of Russian language learning, as well as branches of Russian Universities in various countries. Russian institutions exist in Egypt, Zambia, Congo-Kinshasa, Tanzania, Tunisia, Algeria and Sierra Leone.
The TV network Russia Today and Sputnik, broadcast in English, French and Arabic, special programs in many countries, while it has made a special agreement with the Cameroonian TV network Afrique Media, which broadcasts throughout Africa.
In closing, I would like to emphasize that Russia is a rising player in the African field, since Africa is too important to continue to be neglected, especially by a major world power like Russia. And at the same time Russia’s involvement in Africa should be viewed positively as an additional or alternative balancing force to Western powers (primarily USA) as well as Asian powers (primarily China).