NewsLite SA
ADVERTISEMENT
  • Home
  • News
  • Tech
  • Lifestyle
No Result
View All Result
  • Home
  • News
  • Tech
  • Lifestyle
No Result
View All Result
NewsLite SA
No Result
View All Result
Home News

Russia writes off $ 20bn. from Africa’s debt

NewsLite by NewsLite
25th Oct 2019
in News
2 min read
0
338
SHARES
Share on FacebookShare on TwitterShare on WhatsAppShare on Telegram

Pres. Vladimir Putin says Russia wants to double its trade with countries in Africa in the next four to five years.

The Russian president also announced at the first Russia-Africa Summit in Sochi, Russia, that the country has written off more than $ 20 billion of Africa’s debt.

Dozens of African leaders, including South Africa’s president, Cyril Ramaphosa, and pres. Abdel Fattah el-Sisi of Egypt, attends the summit.

The Russians hope to strengthen its ties with Africa at the summit after it weakened after the fall of the former Soviet Union at the end of the Cold War.

The summit is jointly hosted by Russia and the African Union (AU).

Putin said there are many Russian companies that have a long and successful partnership with companies in Africa and they hope to expand it.

“We will support them from the state,” he said.

Although Russia has sold a large number of weapons to countries in Africa over the years, it is far behind its competitors in the commercial area on trade.

The European Union, China, India, the US and the United Arab Emirates are far ahead of the Russians in this area.

Russia announced earlier this week that it and Niger had agreed to deliver 12 Mi-35 attack helicopters to that country in West Africa.

Sberbank, the largest Russian lender, and other Russian financial institutions have also agreed to finance $ 5 billion in trade between Russia and African countries.

Share332Tweet3SendShare
Previous Post

South African banks and Government under cyberattack

Next Post

Three injured in Helicopter crash

NewsLite

NewsLite

Next Post

Three injured in Helicopter crash

Three’s deaths linked to taxi violence

Triple murder on farm shakes KZN

ANC councilor in court for attempted murder

Three arrested after murder of Smithfield farmer

Integrity Commission says Ace must stand aside

WATCH: Community cause chaos at Senekal court, attempts to overturn police van holding alleged killers

NewsliteSA is an independent South African news website with no agenda. NewsliteSA brings you breaking news, politics, celebrity, sport and world news.

Follow Us

Browse by Category

  • Business (16)
  • Celebrities (1)
  • Crime (281)
  • Economy (178)
  • Featured (682)
  • Gaming (1)
  • Health (9)
  • International (44)
  • Journalism (32)
  • Lifestyle (5)
  • Money (10)
  • News (2,055)
  • Politics (52)
  • Sport (22)
  • Tech (8)
  • Video (294)
  • Viral (1)
  • Weather (2)

Recent News

Three’s deaths linked to taxi violence

15th Dec 2020
Triple murder on farm shakes KZN

Triple murder on farm shakes KZN

15th Dec 2020
  • Contact Us

© 2020 NewsLiteSA - [email protected]

No Result
View All Result

© 2020 NewsLiteSA - [email protected]