Putin calls for greater investment in African minerals
By the AFREEQUE newsroom, based on The Observer
Vladimir Putin calls for stronger Russian investment in the extraction and processing of African minerals to increase public revenues and local control of resources. At the Russia-Africa summit in Moscow, he also advocated economic and technological sovereignty for the continent, according to The Observer.
Russian President Vladimir Putin called for increased investment in mineral extraction and processing in Africa to increase public revenues and enable African countries to gain greater control over their natural resources. Speaking at the Russia-Africa summit in Moscow, he said Russian companies were already involved in extraction and processing activities on the continent, according to The Observer.
Putin also called on African countries to strengthen their economic and technological sovereignty by developing local industries and processing more of their minerals locally. African Union President Évariste Ndayishimiye, president of Burundi, asked Russia to increase its investments in African industry, agriculture, energy and infrastructure, according to The Observer.
Ugandan President Yoweri Museveni banned the export of unprocessed raw materials on 7 April 2025 to promote local processing and job creation. Putin also proposed reforming international financial institutions such as the World Bank and the International Monetary Fund to give developing countries greater weight in economic decision-making, according to The Observer.
