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Will Russia’s war in Ukraine and international sanctions against Moscow slow down business between Africa and Russia? Few African businessmen think so. Although many expect a slowdown. Currently, Russia sells five times more to Africa than it buys from it. Trade between the two entities amounts to approximately 15 billion dollars per year.
They are worried but not panicked. African entrepreneurs who work with Russia follow the conflict in Ukraine on a day-to-day basis and especially the repercussions of international sanctions on business flows.
« So far, nothing has changed says a Senegalese entrepreneur who has just returned from Kazan in Tatarstan. With his partners, he imports trucks and utilities and intends to develop this activity.
Same tone with this Guinean trader who has so far found no difficulty in ordering from his Russian suppliers.
On the other hand, it is becoming difficult for everyone to travel to Russia and this Cameroonian businessman who lives in Moscow now prefers to do business from the Gulf countries. Like everyone else, he wishes to remain anonymous so as not to get into trouble.
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For this good connoisseur of the local economic fabric, Russian companies work primarily for the domestic market and, apart from the raw materials sector, they do not project much abroad. “ Sanctions won’t stop them from living “, he concludes.
The great concern of African importers mainly concerns international payment systems. But in this area, they know that alternative solutions exist. In particular those offered by China via China Unionpay, the largest bank card network in the world.
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