Putin Backs African Mineral Processing to Drive Industrialisation

Russian President Vladimir Putin has emphasized the importance of boosting investment in mineral extraction and processing across Africa. Speaking at the Russia-Africa Summit in Moscow, Putin noted that Russian enterprises are already active in the sector and stressed that deeper cooperation can strengthen local industries and advance the continent’s overall industrialisation agenda.

The push for localized value addition aligns with similar domestic policies in East Africa. Uganda’s President Yoweri Museveni famously instituted a ban on the export of unprocessed raw materials to stimulate job creation and local manufacturing, declaring that unprocessed exports would not leave the country.

African Union Chairperson and Burundi President Évariste Ndayishimiye also urged international partners, including Russia, to expand investments into key sectors like energy, infrastructure, and agriculture. Ndayishimiye underlined that Africa’s vast deposits must serve as a direct pathway to prosperity rather than merely feeding international markets as raw commodities.

During the summit, Putin criticized legacy financial architectures and unfair debt arrangements, advocating for sweeping reforms within global financial institutions such as the IMF and the World Bank. He highlighted that trade between Russia and African nations has experienced steady growth, surging past $27 billion, with potential to double in the near future through expanded collaboration in agriculture, technology, and energy generation.

Read the full report on The Observer.