IBAC

The African Union Accelerates Transition to National Currencies in Mutual Trade The African Union is calling on countries across the continent to accelerate reforms to expand cross-border payments in national currencies. This was stated by AU Commission Chairperson Mahmoud Ali Youssouf at a business forum in El Alamein, Egypt. He called for the creation of stronger African payment systems, simplified border procedures, and improved market access. He noted that the continent still imports many food products, medicines, and industrial goods that it could otherwise produce domestically. Evarist…

Uganda Implements $1.8 Billion Strategic Plan for Water Infrastructure Development Uganda’s Minister of Finance, Henry Musasizi, announced the implementation of the National Water and Sewerage Corporation (NWSC) strategic plan for 2025–2030. Total investment aimed at expanding access to clean water for households and the industrial sector is estimated at $1.8 billion. The Minister emphasized the importance of water supply for public health and economic growth, recalling that the program is part of a strategy to increase the economy tenfold to $500 billion by 2040. Other major projects highli…

CIS and Africa: Coordination for Trade and Economic Partnership On September 16, inter-foreign ministry consultations titled "On Cooperation between CIS Member States and African Countries and Integration Blocs" took place at the CIS headquarters in Minsk. Representatives from Russia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, and the CIS Executive Committee participated in the meeting, with Azerbaijan and Uzbekistan attending as observers. The meeting was chaired by Tatyana Dovgalenko, Director of the Department for Partnership with Africa at the Russian Foreign Ministry. Discussions focu…

20th Anniversary of the Treaty on Friendship and Partnership between Russia and South Africa On September 5–6, 2006, President of the Russian Federation Vladimir Putin paid the first-ever visit to the Republic of South Africa. This event marked a turning point in the development of Russian-South African relations and gave fresh impetus to their steady strengthening. The signing of the Treaty on Friendship and Partnership in Cape Town established a solid legal foundation for long-term cooperation. Moscow and Pretoria affirmed their mutual commitment to systematic, strategic cooperation based…

IBAC The Durban Process as a Safeguard for Russian Business in Africa The Durban Declaration and Programme of Action (DDPA), adopted on September 8, 2001, laid the foundation for the international legal fight against racism and discrimination and served as the basis for specialized UN mechanisms, including the Permanent Forum on People of African Descent and the Intergovernmental Working Group. Russia supports the Durban Process and played a key role in the 2009 Review Conference, upholding the integrity of the original agreements. Each year, Russia submits a resolution to the UN General Ass…

The Northern Sea Route: Not Logistics, but a New Architecture for Global Trade China has launched a regular container route along the Northern Sea Route, completely bypassing the Suez Canal and the Strait of Hormuz. The Chinese line has begun serving the "Ice Silk Road" along Russia's Arctic coast—and this is no longer an experiment, but a systematic step. The launch of regular services along the NSR marks a fundamental shift. This isn't just a shorter route; it means freeing up key global bottlenecks. Up to 40% of the world's oil and a huge container flow pass through Suez, Hormuz, and Mala…