Trending
- Adil Arshed Khawaja replaces John Ngumi as Safaricom Chairman
- EABL half year profit remains flat as costs rise
- Can Nuclear power generation save Southern Africa’s Power Pool?
- The Slowdown of the Global Economy: What it means for Africa’s Fragile Economies
- Tullow Oil to invest US$10 million in Kenya’s oil field development
- Harnessing 4IR to propel Africa’s economy to address unemployment
- Kenya ranked 13 on list of countries with good governance in Africa
- Mozambique: Central Bank maintains monetary policy interest rate
Browsing: Tanzania Natural gas
As a gigantic energy superpower, Russia’s foreign direct investment (FDI) accounts for less than 1 per cent of Africa’s total FDI.
However, African Business argued that, with Russia being a small trading partner to Africa compared to the United States and China, the impact on trade would be marginal—yet few Africa developing economies such as Uganda will be more exposed.
Further, United Nations Conference on Trade and Development (UNCTAD) data show that Russia accounts for 2 to 3 per cent of Africa’s trade with the world—most of it is exports.
“Russia also accounts for 2 per cent of the world’s exports to Africa, and only 0.5 per cent imports from the continent” African Business.