Putin backs mineral processing in Africa to boost industrialisation

What the report says

Russian President Vladimir Putin used the Russia-Africa Summit in Moscow to argue for more investment in mineral extraction and, especially, processing across Africa. According to The Observer, he said Russian companies were already active in parts of the continent and that deeper investment could increase government revenues, strengthen local industry and help African countries keep more value from their natural resources.

Putin linked the push to broader calls for economic and technological sovereignty, saying African states should have greater control over their development priorities and move away from exporting raw materials alone. The article also notes that this message aligned with a wider African policy trend toward local value addition, with leaders including Ugandan President Yoweri Museveni and African Union chair Évariste Ndayishimiye also emphasizing processing, industrial growth and jobs.

Beyond mining, Putin said Russia was ready to expand cooperation in agriculture, energy, transport, digital technology, health and pharmaceuticals. He also criticized what he described as unfair financial arrangements and called for reforms at institutions such as the World Bank and IMF to increase the influence of developing countries.

The report says Russia-Africa trade rose to more than $27 billion last year, up from $18 billion in 2022, and that both sides see room for further growth. The broader context is Africa’s long-running effort to capture more value from its mineral wealth and reduce dependence on raw commodity exports.