Browsing: Russia

• Trump holds mini-summit with five West African countries. 
• Curiously, the forum excluded any of Africa’s biggest economies.
• Reports show that the U.S. is considering troops on ground in DRC to fortify access to critical mineral sites.

Trump tariffs and Trump cuts remain the trending media topics with the latest news break announcing U.S. President Donald Trump has held a mini-summit with five presidents of West African countries.

“The presidents of the West African countries of Senegal, Liberia, Guinea-Bissau, Mauritania, and Gabon are in Washington this week for a three-day mini summit hosted by President Trump — part of what the White House describes as a push to deepen “commercial opportunities” between the U.S. and African nations and replace aid with trade,” NPR reported mid-week.

Swinging from his earlier travel restrictions stance, Trump lauded the West African region for what he described as “it’s vibrancy and opportunities.” Trump went on to …

• China to elimanate all tariffs for African countries.
• China tariff deal looks set to counter US tariffs sting on Africa and further cement trade between the two regions.
• China makes tariff deal with Africa as part of BRICS development initiatives.

China zero tariffs to Africa: China is negotiating a new economic deal with all African countries that will eliminate all tariffs and give them special market access.

“This latest development could significantly benefit all the least developed countries (LDCs) in Africa and boost their respective economies. China is ready to welcome quality products from Africa to the Chinese market,” China’s Foreign Ministry said in a media report this week as he announced the CHina zero tariffs to Africa.

• The AfDB and ECOWAS have signed a $11.78 million grant to boost rice production across West Africa, aiming to reduce the region’s reliance on costly imports and enhance food security.
• The five-year REWARD-ECOWAS project will support policy reforms, input regulation, and digital monitoring to strengthen regional rice value chains.
• This initiative aligns with broader strategies to increase agricultural productivity and build resilience against global market shocks.

Commercial rice production is at the centre of the African Development Bank’s renewed push for food security in Africa, following the signing of a $11.78 million financing agreement with the Economic Community of West African States (ECOWAS) Commission.

The agreement includes a $11.78 million grant from AfDB to bolster rice production across West Africa. ECOWAS will co-finance the initiative with $1.18 million, underlining the region’s shared goal of reducing reliance on costly rice imports.

“Increases in rice production will help ensure food security and …

• Drought and bad weather in Russia have left the country staring at record-low production. This is bad news for key importers including countries in East Africa.
• Russian wheat crop is expected to fall to an 11-year low this season.
• Prices of wheat are expected to rise even higher globally.

The worsening numbers of Russia wheat production are hitting the headlines in East Africa as the region braces for higher consumer prices in 2025. A dip in Russia wheat output poses huge risk to East Africa, a market that heavily relies on imports to plug its own production gaps.

For farmers in Russia, bad weather, is projected to cut their output of the key ingredient that makes a variety of foods for millions in East Africa. As a result, economists project that prices for wheat in East Africa—a key importer of Russian wheat—will soar in the coming months.

In a report …

• Russia and Tanzania are holding trade talks aiming at revamping commercial ties between the two nations.
• At the moment, Russia projects at doubling trade with Tanzania.
• Russia to use Tanzania as a single port of entry to access the African market.

Russia has pledged to double current trade value with Tanzania as authorities from the two countries met in Dar es Salaam Tanzania. The pledge was made at the first Russian-Tanzanian Intergovernmental Commission on Trade and Economic Cooperation at the start of the week in Tanzania’s commercial port city where the meeting is being held.

Russian Economic Development Minister Maxim Reshetnikov visited the country along with a delegation of Russian businessmen representing more than 50 Russian companies.

“Based on our estimates, trade between our countries could double,” Mr. Reshetnikov said. “We stand ready to help the Tanzanian economy maintain the high pace that has achieved in the energy, agriculture, infrastructure …

• Global economic growth will emanate from powerhouse BRICS economies over the next five years as per the IMF predictions.
• The ten BRICS nations comprise more than a quarter of the world economy and almost half the global population.
• China will contribute most significantly to global growth over the next half-decade, with its 22 per cent share outpacing all G7 countries combined.

The countries comprising BRICS— Brazil, Russia, India, China, and South Africa, with five new members—are an informal grouping of emerging economies hoping to increase their sway in the world order.

The BRICS group has become a major political force in the last two decades, building on its desire to counter Western influence in global institutions.

BRICS’ 2024 expansion has come with a range of geopolitical implications. It forms a rising economic and demographic heft: the ten BRICS nations comprise more than a quarter of the world economy and almost …

• Russian Investment Forum at AIM Congress 2024 highlighted Russia’s robust economic standing.
• Various Russian regions showcased unique investment opportunities, from the Far East’s oil and gas sector to Tatarstan’s diverse industries.
• Discussions also revolved around innovation and technology, with an emphasis on Abu Dhabi’s potential as a global technology hub.

Amidst the grandeur of the Abu Dhabi National Exhibition Centre (ADNEC), the Russian Investment Forum emerged as a unique centre of opportunities during the 2024 AIM Congress.

Under the International Partners’ Track, this forum brought together luminaries from Russia’s business landscape to showcase the nation’s unique investment propositions and affirm Abu Dhabi’s suitability as a global technology hub.

Spearheading the discussions was Sergey Katyrin, President of the Chamber of Commerce and Industry of the Russian Federation. Katyrin painted a picture of Russia’s robust economic stature, ranking first in Europe and fifth globally in terms of GDP.

He cited Russia’s …

• In recent years, Moscow has focused on building new Russia-Africa ties.
• Russia is interested in searching for new economic markets and geopolitical influence in Africa.
• Russia’s trade with African economies stood at only $18 billion in 2022.

In recent years, Moscow has focused on building new Russia-Africa ties. Russia is invigorating alliances developed during the Cold War when the former Soviet Union supported socialist movements across Africa.

Following the Soviet Union’s collapse in 1991, Moscow largely withdrew from the continent. However, since at least 2007, Russia has refocused its involvement and influence in Africa.

Over the years, Russia has contracted with over 30 African countries to provide military equipment and armaments. Businesses, including state-backed commercial interests, have invested significantly in technology security sectors and industries that extract natural resources, including oil, gas, gold, and other minerals.

“Russia is clearly interested, in search of new economic markets and geopolitical influence in …

Russia’s invasion of Ukraine in February 2022 threw oil and gas markets into disarray. Consequently, the world experienced the first real global energy crisis during the uneven economic recovery from the COVID-19 epidemic. Russia’s inclusion in the OPEC+ group has hampered international attempts to manage the situation. This has made it harder to handle the significant inflationary effects of rising global fuel prices, particularly in developing nations.

Global fuel prices have risen exponentially in the last few months. The rise is hugely significant, as it has seriously aggravated the global cost-of-living crisis. African economies have particularly been on the receiving end. The continent has suffered from disrupted supply chains and a slowdown in the global economic outlook. Thus, rising energy costs complicate matters even further.…

For many Kenyans, life was unbearable during former President Uhuru Kenyatta’s reign. But just one year after President William Ruto came to power, life is getting more onerous. High taxation, the depreciation of the shilling against the dollar, and record-high fuel prices have highlighted the last few months. This has painted a grim picture of Kenya’s future and shattered citizens’ hopes for economic reinvigoration.
On September 14, 2023, the Energy and Petroleum Regulatory Authority (EPRA) announced record-high fuel prices for the September-October regulation cycle. A litre of super will now retail at Kes 211.64, diesel at Kes 200.90, and Kerosene at Kes 202.61. This represents an increase of Kes 16.96, 21.32, and 33.13, respectively, in the new prices announced last midnight.…