Russia not delivering on promises to Africa

16 November 2020 | Economics

Africans want to get married, Russians want just to date. – NJ Ayuk, Chief: African Energy Chamber

MOSCOW - Russian companies have so far failed to deliver on their promises to exploit Africa's vast energy resources and the global pandemic should not be used as an excuse for slowing their expansion, an energy consultancy said.

Just over a year ago, Russia held its first African summit as president Vladimir Putin stepped up Moscow's push for influence on the continent.

"I think Russian companies have to do more to really get involved. Africans want to get married, Russians want just to date," NJ Ayuk, the head of the African Energy Chamber, told an online conference last week.

"There were lots of promises at this summit, there have been lots of memorandums of understanding (MOUs). But we are yet to see those MOUs being executed. Gazprom, Rosneft, Bashneft and others had a chance to make a real impact ... They have to do more."

ARMS

Russia remains the top seller of arms to Africa. However, it has struggled to expand in other spheres of business and it is way behind China in terms of trading turnover in the region.

During the Cold War, Moscow developed close ties with many African countries, backing for instance post-colonial independence movements. Many of those ties lapsed after the 1991 break up of the Soviet Union.

Rosneft has a MOU with Mozambique, while Lukoil signed a MOU with the Nigerian National Petroleum Corporation at the summit.

Gazprom declined to comment. Rosneft and Lukoil did not respond to requests for comment. – Nampa/Reuters

Similar News

 

South Africa's business confidence improves

1 day - 27 November 2020 | Economics

South Africa's business confidence improved in the fourth quarter of the year, a survey showed on Wednesday, as easing of Covid-19 lockdowns in the past...

Kenya's economic growth to rebound next year

1 day - 27 November 2020 | Economics

Duncan MiririKenya's economic growth is expected to bounce back next year, the World Bank said on Wednesday, as it emerges from a projected decline in...

Nigerians to slide into further poverty

1 day - 27 November 2020 | Economics

Camille Malplat and Louise Dewast More than 200 million Nigerians will slide further into poverty as the coronavirus pandemic has sent oil prices tumbling and...

Ivory Coast raises 1 billion euros in Eurobond sale

1 day - 27 November 2020 | Economics

Ivory Coast's Eurobond sale this week, sub-Saharan Africa's first of the pandemic era, raised 1 billion euros (US$1.19 billion) and was five times oversubscribed, the...

Kamanjab inmates thirsty, hungry

2 days ago - 26 November 2020 | Economics

Edward Mumbuu Jnr – About 38 inmates at the Kamanjab police holding cells have apparently been without sufficient food since October and without water for...

Gold smuggling costs Zim US$1.5 bn a year

2 days ago - 26 November 2020 | Economics

Harare - A report published Tuesday by a global research group estimated that cash-strapped Zimbabwe is losing at least US$1.5 billion a year through the...

Chinese start on roads project in South

2 days ago - 26 November 2020 | Economics

China Henan International Cooperation Group will undertake an envisaged 35-month project for the rehabilitation and widening of the trunk road between Mariental and Keetmanshoop.The project...

Virus insurance losses to top US$107 billion

4 days ago - 24 November 2020 | Economics

Global insurance losses from the Covid-19 pandemic will be higher this year than the US$107 billion Lloyd's of London had previously estimated, its chairman Bruce...

Africa needs more than world is offering

4 days ago - 24 November 2020 | Economics

Karin Strohecker and Joe Bavier - African countries face another debt crisis and will need more long-term help than the latest G20 debt plan offers...

WTO aiming to net fishing deal

4 days ago - 24 November 2020 | Economics

Agnès Pedrero - Negotiations on banning billions of dollars in fisheries subsidies are coming to the crunch at the beleaguered World Trade Organisation, with the...

Latest News

Kenya's economic growth to rebound...

1 day - 27 November 2020 | Economics

Duncan MiririKenya's economic growth is expected to bounce back next year, the World Bank said on Wednesday, as it emerges from a projected decline in...

Man kills, buries his partner

1 day - 27 November 2020 | Crime

TUYEIMO HAIDULAOKATANAA 36-year-old man has been arrested in connection with a body discovered on Wednesday at Omayanga village in the Okatana Constituency, Oshana Region. The...

Swapo holds on by fingernails

1 day - 27 November 2020 | Politics

TOIVO NDJEBELAWINDHOEKSwapo continued from where it left off with its downward spiral in last year's election by having its hold onto key constituencies and local...

Iipinge taps out

1 day - 27 November 2020 | Politics

JEMIMA BEUKESWINDHOEKOutgoing Walvis Bay Urban constituency councillor Knowledge Iipinge, who has conceded to Independent Patriots for Change (IPC) candidate Florian Donatus Tegako, says his work...

Nigerians to slide into further...

1 day - 27 November 2020 | Economics

Camille Malplat and Louise Dewast More than 200 million Nigerians will slide further into poverty as the coronavirus pandemic has sent oil prices tumbling and...

Hit the ground running

1 day - 27 November 2020 | Opinion

At the time of penning this down yesterday, the tabulation of election results was still under way. It didn’t look like a good day at...

Auto Sueco gunning the future...

1 day - 27 November 2020 | Politics

OGONE TLHAGEwindhoekFrom its humble beginnings in 2004, Auto Sueco Namibia is now a reckoned force in the Extra heavy and heavy commercial vehicle market with...

Ivory Coast raises 1 billion...

1 day - 27 November 2020 | Economics

Ivory Coast's Eurobond sale this week, sub-Saharan Africa's first of the pandemic era, raised 1 billion euros (US$1.19 billion) and was five times oversubscribed, the...

Open defecation remains a problem

1 day - 27 November 2020 | Health

ELLANIE SMITWINDHOEKIt is estimated that 14% of Namibians living in urban areas practise open defecation, while 77% of people living in rural areas do the...

Load More