This archive report was first published on 30 October 2019.
On October 23, 2019, the inaugural Russia-Africa Summit opened in Sochi, Russia, with at least 35 African heads of state and government in attendance.
According to Russia President Vladimir Putin, Moscow will encourage African countries to table their own development proposals for discussion during the summit.
Mr. Putin offered a vision for cooperation with Africa, stating that Russia would bring resources and technology to the continent, leaving business and political leaders to determine how they are utilized.
"We expect that our African colleagues, representatives of the business community will come to Sochi with a solid package of proposals aimed at enhancing bilateral relations, while heads of Africa's regional organisations will share their ideas as to how we could jointly develop our multilateral cooperation," Mr. Putin said in an interview with local TASS news agency on October 22, 2019.
Mr. Putin also stated that projects agreed upon during the summit could be launched right away, suggesting that they would not be tied to undue bureaucracy and conditions that have made African governments frown at project financing from the west.
Trade between Africa and Russia rose to $20.4 billion in 2018, with Russia shipping out goods worth $17.5 billion against $2.9 billion.
Between January and August 2019, Russia sold $7.1 billion in exports to Africa and imported $1.8 billion of goods.
Mr. Putin said a number of billion-dollar investment projects with Russia's participation were currently in the pipeline and would be rolled out in five years.
Although he did not name them, Russia's key investment partners in Africa last year were Angola, Ghana, Guinea, Egypt, Zimbabwe, Congo, Nigeria, and South Africa.
Russian companies made investments valued at $47 billion in the countries, with a $30 billion investment by nuclear Company Rosatom in Egypt claiming the bulk of the commitments.
Mr. Putin said a number of western states had resorted to pressure, intimidation, and blackmail against governments of sovereign African countries, and that Russia's approach would have foremost regard for Africa's population, environmental, or other risks.
