While Russia has traditionally focused on arms and grain exports to Africa, it is now looking to broaden its activities and influence.
Here are four sectors likely to be discussed at the Russia-Africa Summit set for next Wednesday and Thursday in the Black Sea resort of Sochi.
Oil and gas
Russia is one of the world’s top hydrocarbon producers and exporters through energy giants like Gazprom, Rosneft and Lukoil.
But with 65 percent of its territory covered with permafrost, exploration and extraction are costly, so Russia is eyeing up promising reserves in Africa.
Nuclear
Africa is almost entirely lacking in atomic energy, with just one nuclear power station on the whole continent, in South Africa.
Russian-built nuclear power stations have a price advantage over Western competitors and its nuclear agency Rosatom offers, attractive financing deals to customer countries.
It has already signed preliminary agreements on nuclear projects with Egypt, Nigeria, Sudan, Kenya, Ghana, Zambia and Uganda.
Diamonds
Rich in mineral resources, Russia has significant expertise in extraction that could be deployed in other countries.
The world’s top diamond producer, Russia’s Alrosa, founded the Catoca mine in Angola in 2003. The Russians even built a hydroelectric power station to provide electricity for its operations. Since 2014 Alrosa has also been searching for new deposits in the country.
Alrosa this year announced it will also start mining activities in Zimbabwe.
Aluminium giant Rusal, formerly a target of US sanctions, is meanwhile mining bauxite in Guinea and has decided to reopen an aluminium refinery there closed since 2012.
Education
A massive slump in Russia’s birthrate after the breakup of the Soviet Union has decimated the number of young people looking to study or join the workforce.
As it looks to fill empty seats in universities, Africa could provide a steady stream of students.
Charles Robertson, chief economist at Renaissance Capital, estimates that the number of Russian students has fallen by 40 percent in the last decade.
“There are no young Russian people any more, so how do you fill up those universities? You bring in African students.”
Source: Guardian Newspaper
