World
Russia and Africa Yet to Break Multitude of Business Barriers

By Kestér Kenn Klomegâh
The scramble for the entrepreneurial influence and control of the African continental landscape by global players is a geopolitical reality. To be part of this geopolitical arena, foreign corporate business players have been devising different approaches and pathways for revitalizing investment partnerships and strengthening cooperation with potential African partners, says Louis Gouend, founder of Hello Africa and founding Executive Director of the African Business Club.
In this interview taken by Kestér Kenn Klomegâh late May 2024, Louis Gouend gives useful insights into the dynamics of why Russia and Africa ultimately have to forge an engagement in business and economic sectors, to expand cooperation in both regions and further highlights the existing challenges facing the evolving entrepreneurial initiatives in Russia and Africa.
Here are the interview excerpts.
How would you characterize the level of business cooperation between Russia and Africa?
In recent years, business relations between Russia and Africa have acquired new dynamics. Russia is actively seeking opportunities to strengthen economic ties outside traditional Western markets, and Africa is attractive as a region experiencing rapid economic growth and rich natural resources. In this case, special attention is paid to sectors such as energy, mining, agriculture and educational projects. Russian companies are actively investing in mineral resource development projects, and are also entering the agricultural sector of some African countries.
ln your expert point of view, what are the basic challenges that currently confront businesses on both sides?
There are several key difficulties that complicate business interaction between Russia and Africa. These are, first of all, differences in business culture and legal regulation, which complicate the process of doing business. Logistics challenges, including the difficulty of transporting goods over long distances and across multiple borders, also pose additional obstacles. The bureaucracy can be sluggish, and corruption in some African countries makes the situation worse.
Another barrier is a lack of knowledge. On one hand, Russian companies lack knowledge of the environment and available high-quality analytical materials about the African market, its specifics and risks. On the other hand, African entrepreneurs and consumers have virtually no knowledge about Russian products and corporate business services. The main problem now is not funding, but the lack of sufficient knowledge and contacts. One of the options for resolving this issue is to increase Russian business missions to Africa, which will help promote Russian goods and technologies on the African market. And vice versa, in terms of bilateral cooperation.
Another factor limiting exports to Africa is the lack of special investment agreements and lack of regulation in this direction. When we talk about investment activity, the question arises about the lack of investment protection agreements. Their absence prevents Russian companies from insuring investments, which prevents them from exporting to Africa.
Our club members are mainly representatives of various African diaspora who live or studied in Russia and have been operating businesses in Russia or Africa. They know the mentality and culture of both sides, and they have strong ties with both sides, allowing them to be reliable bridges between Africa and Russia.
We work with African chambers of commerce, embassies, diaspora representatives, as well as other regional associations and export companies. Stakeholders include large and small businesses from Russia and Africa, various industry associations, government agencies and diplomatic missions. To improve business cooperation, the club plans to develop knowledge exchange programs, conduct business forums and master classes, and create special working groups to discuss specific issues and problems.
Why did the creation of an African Business Club (ABC) become necessary only now and what are its main goals?
The growth of economic activity and the increase in the number of bilateral projects between Russia and Africa required the creation of a platform to facilitate these interactions. The African Business Club aims to be a platform where entrepreneurs can share knowledge, network, explore new opportunities and solve emerging problems together. The club’s main goals include strengthening trade relations, and stimulating investment and technological exchange.
Our clients value us because, first of all, we help adapt the work of a foreign company to Russian realities, organize and debug many business processes within various aspects and support the foreign company as a reliable partner. Companies planning to invest in African economies will need strong ties to the African government and partnerships with local businesses. How to contact the right people? We are ready to help with this issue.
We offer advisory services to small, medium and global companies that want to invest in the African continent. Thus, we promote entrepreneurship and help create new trade ties between Russia and Africa. We attract potential investors interested in financing projects in the African private sector. We create online access to market research resources and relevant business contacts in Africa. We publish position papers covering issues related to trade with Africa, investment, regulation, policy and industry content.
The number of Russian companies wishing to enter the African market is growing regularly, and this confirms our intentions to promote the development of bilateral economic relations. On the other hand, we can note an increase in the number of African companies wishing to develop close cooperation with their Russian partners.
We offer a wide range of services for Russian companies entering the African market. This includes market research, selection of partner companies, assistance in organizing a business, and personnel search, including offers for Russian citizens to work in African companies.
Who are your current stakeholders and members? And how do you plan to develop a common approach to increasing the level of business cooperation between the two regions?
Our club members are mainly representatives of various African diaspora who live or studied in Russia and have operating businesses in Russia or Africa. They know the mentality and culture of both sides, and they have strong ties with both sides, allowing them to be a reliable bridge between Africa and Russia.
We work with African chambers of commerce, embassies, diaspora representatives, as well as other regional associations and export companies.
Stakeholders include large and small businesses from Russia and Africa, various industry associations, government agencies and diplomatic missions. To improve business cooperation, the club plans to develop knowledge exchange programs, conduct business forums and master classes, and create special working groups to discuss specific issues and problems.
Why is the presence of African business in the Russian Federation extremely low?
A combination of bureaucratic barriers, lack of awareness of the economic environment and opportunities, complex legal and regulatory frameworks, and relatively high market entry costs deter African companies from actively doing business in Russia.
What complimentary roles can African diplomatic missions and business associations play here?
The club has already been negotiating to simplify procedures for African investors and exporters, and assisting in the creation of reliable and effective communication channels between African companies and Russian regulators. As a two-way street, African diplomatic missions can also act as a bridge, helping to overcome cultural and administrative barriers, and actively participate in the club’s activities, supporting its multifaceted initiatives at various levels.
World
Irvine, Dreaminfluence Accelerate Growth of Africa’s $3bn Creator Economy

Irvine Partners, a leading creative communications agency with offices in Africa and Europe, has signed an exclusive licence with Dreaminfluence as their Africa partner. Dreaminfluence, an all-in-one platform that empowers brands to build and scale influencer marketing has executed 1,000s of influencer campaigns and worked with over 20,000 influencers.
This innovative platform’s digital capabilities will support the content creators who are driving Africa’s rapidly expanding $3.08 billion creator economy. Despite creators on the continent taking advantage of platforms like TikTok, African creators still earn significantly less than their counterparts in other regions, despite producing high-quality content. Furthermore, infrastructure limitations and a digital skills gap hinder the progress of the creator ecosystem.
Monetization should not be out of reach for African creators says Rachel Irvine, CEO of Irvine Partners. She adds that “Dreaminfluence provides digital infrastructure and connects creators to brands, backing their work so they too can unlock opportunities while brands can grow their reach with authentic content that resonates with audiences.”
Dreaminfluence CEO, Mads Wedderkopp, explains “We have worked with many leading brands in the Nordics and are excited to finally bring our platform to Africa through this exclusive partnership with Irvine Partners.”
“The decision to work with Irvine Partners as our Africa partner was a no-brainer, given the roster of clients they serve, and their continental and European footprint.”
Some of the leading brands that use Dreaminfluence for their influencer campaigns are Nivea, L’Occitane, and Estee Lauder Group.
How it works
Dreaminfluence was founded in 2018, to transform influencer marketing from being about affiliate links and discount codes to focusing on actual brand ambassadorship. This vision is translated into the features that Dreaminfluence offers, for both brands and influencers.
These brand features include:
-
Discovery of influencers: Brands can find the right influencers for their campaigns, without wasting time on influencer outreach
-
Campaign analytics: Track campaign performance, report the value and identify the best-performing influencers
-
Building relationships: Influencers move from short-term brand campaigns to long-term brand ambassadorship
-
Campaign management: Manage influencer payments, product shipping and secure content usage rights
-
Paying multiple influencers at a time with one click
For influencers, the features are:
-
Apply to join a brand team or campaign through the app
-
Be selected as part of the ambassador team
-
Join new campaigns when they are published
-
Run all campaign admin including payments, content ideas, and approvals through the app
The Dreaminfluence difference
Irvine Partners is constantly working with influencers across Africa on different campaigns for its clients and Dreaminfluence provides an innovative way to streamline agency relations with leading and emerging content creators on the continent.
Mohale Moloi, Content Director at Irvine Partners explains that “creator marketing studies tell us that more than 50% of brands plan to increase their spending on influencer marketing in 2025. But making sure these campaigns deliver results across the whole marketing funnel requires an in-depth understanding of market nuances, which is what we bring to the table.”
By working with a dynamic platform like Dreaminfluence, Irvine Partners will take influencer campaigns to the next level by combining local insights with a platform that makes everything from campaign selection to payments more efficient.
“We are most excited about the actionable campaign data and high ROI that Dreaminfluence offers,” says Moloi.
World
Cameroonian Diaspora Congress: An Essential Vector for Cameroon’s Influence in Russia

By Louis Gouend
The Cameroonian diaspora in the Russian Federation, although relatively recent, constitutes an essential vector for Cameroon’s influence and the maintenance of strong ties with the nation. In this perspective, and following a fruitful video conference on January 27, 2024, with the Minister of Youth and Civic Education, it was decided to organize, on February 8 and 11, 2025, the first celebration of Youth Day within the Russian diaspora.
This unprecedented initiative, benefiting from the Minister’s valuable support, aimed to consolidate patriotism and the spirit of initiative among Cameroonian youth residing in Russia, by offering a framework for exchange and promotion of Cameroonian cultural wealth. It mobilized Cameroonian students, young professionals, and entrepreneurs established in Russian territory.
The commemoration of the 59th anniversary of Cameroon’s Youth Day took the form of a dual celebration: a physical meeting at the Cameroonian Embassy in Moscow on February 8, 2025, and a virtual meeting on Zoom on February 11, 2025. These events brought together a total of more than 150 participants from over 50 cities in Russia, representing diverse backgrounds, including presidents of Cameroonian associations, members of the Diaspocam executive council, deans, honorary guests, and embassy officials.
The diaspora had the honour of welcoming, via video conference, Mr Mounouna Foutsou, Minister of Youth and Civic Education, whose encouragement and vision were a source of inspiration. The Minister outlined the productive initiatives implemented by the Cameroonian government in favour of its youth in the diaspora in Russia, emphasizing the willingness to support projects led by young entrepreneurs through a specific support mechanism and the operationalization of the guarantee fund.
During his address, the Minister recalled the commitments made during the video conference of January 27, 2024, emphasizing the need for increased collaboration between the government and the youth of the diaspora. He stressed the immense potential represented by this youth and reaffirmed the government’s commitment to addressing their concerns.
Among the initiatives put in place to support the youth of the diaspora, he mentioned:
- The Guarantee Fund for Young Entrepreneurs (FOGAJEUNE), which finances projects in four key sectors (agriculture, digital economy, industry/crafts and technological innovation).
- The special DIALYJ window, designed to promote co-ventures between young people from Cameroon and the diaspora.
- The Program to Aid the Return and Integration of Young People from the Diaspora (PARIJEDI), which facilitates the return and integration of young people in Cameroon.
“We express our deep gratitude to the Cameroonian government and personally to Minister Mounouna Foutsou for their support of our initiative,” said the President of Diaspocam, Louis Gouend. “Thanks to their assistance and the support of the Cameroonian Embassy in Russia, we were able to organize this important event, which has strengthened ties between the diaspora and Cameroon.”
Aware of the positive impact of this first celebration, we hope that this innovative initiative will be included in the calendar of activities of the Ministry of Youth and Civic Education for the years to come.
Diaspocam establishes a legal platform to come together, helps each other, interacts and establishes viable strategic networks and partnerships; presents, shares and expands proven diaspora business models; promotes and assists businesses and investments in Cameroon.
It strengthens a good image of Cameroon in Russia while maintaining close liaison with the Cameroonian and Russian governments and any other representative body pursuing objectives similar to those of the Association. Cameroonian Diaspora in the Russian Federation is a public organization which encourages participation, representation, diversity and cooperation between Cameroon, African diaspora and Russian society.
World
African Union Launches Credit Rating Agency to Rival Fitch, Others

By Adedapo Adesanya
The African Union has announced the launch of its rating agency, the African Credit Rating Agency (AfCRA) to provide accurate ratings for countries on the continent.
According to Kenya’s President, Mr William Ruto, while unveiling the new agency at an AU event held in Addis Ababa, Ethiopia on Friday, AfCRA will address biases by global rating firms.
Global firms like Moody’s, Fitch and Standard & Poor (S&P) are some of the ratings agency which provide insights into African countries to aid investors and stakeholders.
There have been criticisms that these ratings lead to higher borrowing costs for African countries and make it harder for them to access international financial markets.
“Global credit rating agencies have not only dealt us a bad hand, they have also deliberately failed Africa,” Mr Ruto stated during the launch.
“They rely on flawed models, outdated assumptions, and systemic bias, painting an unfair picture of our economies and leading to distorted ratings, exaggerated risks, and unjustifiably high borrowing costs.”
According to President Ruto, improving Africa’s rating by one notch could unlock $15.5 billion in additional funding for the continent, which could help replace a significant portion of official development assistance or be invested in Africa’s infrastructure needs.
Despite Africa’s abundant natural wealth, only two African nations are currently ranked as investment grade.
“It is time for Africa to use the right scale, one that reflects its true weight,” Mr Ruto added.
The African Union has previously criticized global rating agencies’ characterization of African economies. In January, the AU pointed out that Moody’s Ratings’ fluctuating assessment of Kenya’s outlook was flawed.
“As the continent continues its march towards economic integration and resilience, the establishment of the African Credit Rating Agency (AfCRA) represents a pivotal step in asserting Africa’s position on global financial governance.”
The agency aims to provide fair, transparent, and development-focused credit ratings that reflect the realities and potential of African economies.
The idea comes more than a year since the AU officially announced its plans to move forward with the project since September 2023.
The push for an African credit rating agency became viable in 2022 when Senegal’s former president Macky Sall, then the chairman of the AU, called for a new system to “end the injustices” faced by African countries.
-
Feature/OPED5 years ago
Davos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years ago
Estranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years ago
Sort Codes of GTBank Branches in Nigeria
-
Economy2 years ago
Subsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years ago
First Bank Announces Planned Downtime
-
Sports2 years ago
Highest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years ago
How To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN