43 African heads of state participated in the inaugural Russia-Africa Summit in 2019, leaving with high expectations that Russia would become a new source of commerce and investment for the region.
Vladimir Putin, the president of Russia, did make a commitment to increase commerce with Africa from $20 billion to $40 billion over the course of five years.
After it, Russia’s influence in Africa grew quickly. In certain ways, Russia has taken the lead as a foreign partner in many African nations.
When the nation’s corporate leaders and those of the African business community convene for a round table discussion, they will attempt to expand that influence.
“Doing Business in Africa: Risks, Market Conditions, Opportunities” – a panel discussion, which is one of the main events of the New Global Economy block, at this year’s Russia–Africa Economic and Humanitarian Forum.
The panel will offer both partners the opportunity to review that $40 billion investment promise and x-ray factors that helped in achieving it militated against it.
The forum which is the Second Russia–Africa Summit, will happen July 27- 28, 2023, at St Petersburg, Russia and will provide an opportunity for representatives from the relevant Russian ministries, Russian and African business leaders, and international relations experts to discuss the challenges facing Russia and African countries in an era of global change.
They will also talk about most pressing issues and ways of resolving them to encourage the development of Russian–African relations in the economic, cultural and humanitarian spheres.
According to Anton Kobyakov, Advisor to the President of the Russian Federation and Executive Secretary of the Organizing Committee for Russia–Africa Events, “The Second Russia–Africa Summit and Russia–Africa Economic and Humanitarian Forum is set to become a unique platform for direct dialogue between business, government, and representatives of the creative and cultural communities of Russia and Africa. I am confident that in the foreseeable future, all the Forum events will lead to a strengthening of the ties between our regions and to effective cooperation
“Taking part in the round table on doing business in Africa, will be Mikhail Aronson, Deputy General Director, Zyfra, Georgy Smirnov, General Director, Nordgold Management, among others.
They will tackle the issues of expanding business cooperation between Russia and African countries, and will talk about export potential in the face of the new challenges, as well as the programmes and projects currently underway in Africa.“The session will be moderated by Alexander Shokhin, President of the Russian Union of Industrialists and Entrepreneurs.
Russia-Africa Economic Forum’s business programme consists of four large topic areas covering all spheres of cooperation between Russia and the African continent: The New Global Economy, Integrated Security and Sovereign Development, Cooperation in Science and Technology, The Humanitarian and Social Sphere: Working Together for a New Quality of Life.