Kester Kenn Klomegah

News Zimbabwe

For more than two decades, Russia has been struggling to regain its Soviet-era economic influence, but such efforts have hit stumbling blocks which policy experts and Russian authorities themselves attribute to inadequate knowledge of investment and economic possibilities in Africa.

 

AFP

Over the past two decades, Russia's efforts to regain its Soviet-era influence in Africa have achieved little success because "times have changed significantly, for example, a new economic and political environment, new emerging challenges, new competitive conditions and new bases for cooperation," according to Nataliya Zaiser, a Public Policy Advisor at Squire Patton Boggs Moscow office covering Russia, the Eurasian Union and Africa, and also the Chair of the Africa Business Initiative.

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Kester Klomegah

Russia is implementing a number of large-scale projects in Africa. At the same time Russian companies are interested in projects focusing on mineral extraction, the energy sector, construction of large manufacturing facilities, human resources training, healthcare development, agriculture and food security, cooperation in digital technology and communications.

Over the past few years, Russian authorities have been prioritizing media cooperation and the use of soft power to address the falling image of Russia among the political and business elites in Africa.

WB

While Russia's interest in sub-Saharan Africa is nothing new, Russian authorities have realized that it’s time to move back primarily to reclaim its economic footprints and to find old Soviet-era allies, but that step comes with new challenges especially from other foreign players and the changing internal political and economic conditions in Africa.

Wiki

After three days of high-level summit deliberations, the BRICS group of countries of the world’s five leading emerging nations (Brazil, Russia, India, China and South Africa), have laid out the strategic road map that will tackle challenging development and infrastructure projects, and will seek close economic cooperation under the plan termed "the Strategy of Economic Partnership" that will run till 2020.

EK

The bank will invest primarily in infrastructure projects in both BRICS and non-BRICS countries. The establishment of its first regional office in Johannesburg will give access to the Africa, where infrastructure development needs are highest.

c c SCS

Ahead of the next BRICS summit this July, the bloc is considering establishing a parliamentary group. Russia is pushing this project, together with plans to promote cooperation among trade unions, civil society organizations and youth movements.

Russia is looking to extend its footprint in Africa by supporting the construction of a huge nuclear power plant in Egypt. Nuclear energy is seen as a viable option for African economies.

The creation of the Eurasian Economic Union parallels two deepening interrelated crises: the growing rift between Russia and the West over the conflict in Ukraine and the looming economic crisis in Russia.

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