Years later, Russian businesses are once again taking a closer look at Africa. In an interview with KP.RU, Yulia Berg, founder of the Globus expert club and director of the International Business Acceleration Center, discussed which niches are promising and why it will be difficult to navigate the continent without a "guide."
According to the expert, Russia's active return to Africa began around 2018, in preparation for the first Russia-Africa Summit. Prior to this, universities were practically uneducated in terms of training specialists in the field.
"There was no relevant understanding of what was happening in sub-Saharan Africa, so businesses had to conduct reconnaissance in force and build new connections," she noted.
As for competition on the continent, Russia cannot compete with China in terms of investment volume. However, it has other advantages: IT, security technologies, fertilizers, and agricultural products. Furthermore, Russian and Soviet experience allows for the integrated development of territories.
"Only practical experience allows for success. It helps avoid pitfalls, cut corners, and exploit existing doors rather than forging new ones," Berg concluded.
She sees the greatest potential for long-term projects in the Republic of Congo, one of the most stable countries. The Sahel Alliance (Burkina Faso, Mali, and Niger) is also open to cooperation, but long-term projects are unlikely to materialize there at this time.
#GlobUs #Africa #business #RussiaAfrica #YuliaBerg #investments
According to the expert, Russia's active return to Africa began around 2018, in preparation for the first Russia-Africa Summit. Prior to this, universities were practically uneducated in terms of training specialists in the field.
"There was no relevant understanding of what was happening in sub-Saharan Africa, so businesses had to conduct reconnaissance in force and build new connections," she noted.
As for competition on the continent, Russia cannot compete with China in terms of investment volume. However, it has other advantages: IT, security technologies, fertilizers, and agricultural products. Furthermore, Russian and Soviet experience allows for the integrated development of territories.
"Only practical experience allows for success. It helps avoid pitfalls, cut corners, and exploit existing doors rather than forging new ones," Berg concluded.
She sees the greatest potential for long-term projects in the Republic of Congo, one of the most stable countries. The Sahel Alliance (Burkina Faso, Mali, and Niger) is also open to cooperation, but long-term projects are unlikely to materialize there at this time.
#GlobUs #Africa #business #RussiaAfrica #YuliaBerg #investments