Russia promises partnership to develop Africa

Russian President Vladimir Putin has indicated Russia’s commitment to continue to cooperate with African countries to develop energy projects across the continent.

Putin, was addressing African heads of state and the African Business Community at the Second Russia-Africa Summit in St. Petersburg.

Over many years, Soviet and Russian specialists have designed and built large energy centres in Angola, Egypt, Ethiopia and other countries of the continent with a total capacity of 4.6 gigawatts.

According to Mr Putin this is just a quarter of Africa’s hydropower capacity.

Russian companies he said are currently implementing new mutually beneficial projects aimed at meeting the growing needs of the African economies for fuel and generating capacity, to provide Africans with access to affordable and reliable, sustainable and environmentally friendly energy sources.

He also mentioned that some of the Russian companies are also engaged in the development of oil and gas fields in Algeria, Egypt, Cameroon, Nigeria and the Republic of Congo.

Touching on nuclear, Mr Putin said Russia state corporation can provide African countries with its unique experience and technologies that have no analogues in the world in the field of non-energy use of the “peaceful atom”, for example, in medicine and the same agriculture.”

Commending Russia for her move in helping to develop businesses in Africa, the Executives Chairman of the Jospong Group of Companies believes that the Russia – Africa relationship is going to help boost businesses in Africa with the help of Afro EXIM Bank in direct exchange of transfers and facilition of financing between Russia and Africa.