President Ramaphosa Arrives in Russia for 2nd Russia-Africa Summit

St. Petersburg, Russia – President Cyril Ramaphosa has arrived in St. Petersburg in the Russian Federation to lead South Africa’s participation in the 2nd Russia-Africa Summit. The summit, which takes place on July 27-28, 2023, aims to foster mutually beneficial cooperation and partnerships between Russia and the African continent.

“The 2nd Russia-Africa Summit is an important opportunity for South Africa to strengthen our relations with Russia and to explore new areas of cooperation,” said President Ramaphosa. “We are particularly interested in expanding our trade and investment ties with Russia, and we believe that the summit will provide a platform to do so.”

The summit is expected to consider four declarations and a three-year Action Plan, which will be presented for consideration. These submissions will focus on strengthening cooperation between Russia and African states in politics, security, trade, science, IT, humanitarian support, education, culture, sports, youth and the environment.

“The summit is also an opportunity for us to discuss the challenges facing the African continent, such as poverty, unemployment and inequality,” said President Ramaphosa. “We believe that by working together, we can address these challenges and build a more prosperous future for Africa.”

Mr Tinashe Mpasiri, Banking On Africa’s Future (BOAF) Network member, said that the summit is an important aggregator to accelerate trade and economic activity between Africa and Russia. “The summit provides a platform for African countries to showcase their investment opportunities and to attract Russian investment,” said Mr Mpasiri. “This is essential for Africa’s economic development.”

Mr Mpasiri also stressed the need for more African countries to join BRICS, a group of five major emerging economies: Brazil, Russia, India, China and South Africa. “BRICS is a powerful economic bloc, and African countries can benefit greatly from membership,” said Mr Mpasiri. “We need to work together to make BRICS more inclusive.”

Mr Mpasiri also called for the creation of a common currency among BRICS member countries. “A common currency would facilitate trade and investment between BRICS countries,” said Mr Mpasiri. “This would be a major boost for the African economy.”

The 2nd Russia-Africa Summit is a significant event for Africa and Russia. It provides an opportunity for both sides to strengthen their ties and to work together to address the challenges facing the African continent.