Russian President Vladimir Putin made a firm pledge to support Africa in the face of global challenges at the third Russia-Africa Summit in Moscow on October 28, 2026. He accused Western powers of continuing to exploit Africa's resources and using debt as a tool to hold back the continent's development. Putin stated that Western powers had enriched themselves at the expense of others and were now resorting to coercive economic measures to maintain their dominance.
Putin criticized the West for deliberately pushing African countries back into unsustainable debt, offering financing and resource deals on exploitative terms. He invoked the words of former President of Burkina Faso, Thomas Sankara, who said debt is basically neocolonialism. Putin stated that the legacy of colonial infrastructure, designed to transport raw materials to mother countries, continues to limit Africa's industrial growth. Africa's manufacturing value addition stands at less than 2 percent, while intra-African trade accounts for just 15 percent of the continent's $1.5 trillion total trade volume.
The Russian leader noted that the situation was shifting, thanks to the African Continental Free Trade Area (AfCFTA), which is contributing to production, industrial cooperation, and greater economic independence. He reiterated Russia's commitment to helping improve Africa's debt situation, disclosing that Moscow has joint programs with several African countries aimed at financing growth. These programs use blended money to lend money to finance growth.
The third Russia-Africa Summit brought together African leaders and Russian officials to discuss trade, security, food security, and economic cooperation. Putin's pledge to offer support to Africa comes as the continent faces significant global challenges. The summit provided a platform for African leaders to engage with Russian officials on issues critical to the continent's development.
According to Putin, Western powers are using illegitimate sanctions, economic diktat, tariff wars, blackmail, and interference in the domestic affairs of others to maintain their dominance. He accused the West of trying to run African countries back into the debt abyss, imposing resources on them on terrible terms, which are tantamount to robbery.
The Russian leader emphasized that the colonial infrastructure legacy continues to affect Africa's industrial growth. He noted that the infrastructure was built during colonial times to transport raw resources and materials to the mother countries. This has limited Africa's ability to add value to its manufacturing sector.
The third Russia-Africa Summit concluded with a commitment from Russia to strengthen its partnership with Africa. The summit provided a platform for African leaders to engage with Russian officials and discuss critical issues affecting the continent. Russia's pledge to support Africa's development comes as the continent seeks to overcome significant global challenges.
Key points
- Russia has pledged to support Africa's development through joint programs aimed at financing growth and improving the debt situation.
- Western powers have been accused of exploiting Africa's resources and using debt as a tool to hold back the continent's development.
- The African Continental Free Trade Area (AfCFTA) is contributing to production, industrial cooperation, and greater economic independence for the continent.
