Africa is waiting for Russian investment

Anton Korinets, who has been working on the continent for four years, told Free Press about the features of local business.

After France left Africa, Russia gained significant advantages in Niger and the Sahel countries. This opinion was expressed by Le Monde.

“Russian diplomacy won, while France, which was a privileged ally of the old presidential regime in Niger, became a target for the new authorities,” — the publication emphasizes. Journalists clarified that Russia has many proposals for cooperation with the countries of the Sahel region. “Mali, Niger and Burkina Faso are ready to unite in an alliance,” — writes Le Monde.

«Free Press» talked to Russian entrepreneur, expert on business development in Africa Anton Korinets and, first of all, asked how long he has been working on the “dark continent”.

— I've been living in Africa for four years. During this time I worked in different countries — in South Africa, Uganda, Rwanda, Tanzania, Kenya and others. I currently live in Nairobi, Kenya.

That is, I have sufficient experience of interacting with various African countries, since I discovered the continent by introducing alcohol brands to local markets — starting from Nigeria and ending with Ethiopia.

In addition, there is experience in introducing Russian companies to the African market — I would like to point out right away that each country has its own peculiarities of doing business.

«SP»: Has anything changed in your business since France left the Sahel?

— For me personally, nothing has changed, I think, as for most business people.

«SP»: Can we agree with the publication of Le Monde that after France left the region, Russia became in an advantageous position?

— Undoubtedly! It can be argued that the world is changing, and the remnants of colonial times are passing away.

«SP»: Why is Africa attractive for Russia?

— Africa, in fact, for us, as for other countries, in my opinion, is attractive as a huge consumer market with a population of 1.4 billion people, which also has enormous potential in the future. It can be compared with the market of China and India.

Companies that start their business today and are willing to invest will be huge winners in the long run.

However, not all companies understand that in order to enter the new promising African market, they first need to invest in it. After all, unfortunately, many are accustomed to getting results right away, now, instantly. However, in fairness, it is worth noting that there are many successful cases here. Thus, a lot depends on management.

I am convinced that Africa is attractive to our country for several reasons. These are economic potential, availability of natural resources, markets and strategic importance.

Russia is seeking to strengthen its presence on the world stage, and Africa provides extensive opportunities for cooperation in various fields.

«SP»: For a long time, our businessmen invested mainly in European countries and the USA. Are there any advantages to investing in the “dark continent”?

— Do not forget that the market of the United States and European countries has, by and large, already formed, while investments in the African continent today have great prospects.

But when entering African markets, it is worth taking into account the cultural characteristics of these peoples.

Now I observe that a huge number of companies that are drivers of the economy are entering the market. But don’t forget about human potential, perhaps this is the continent’s most valuable resource.

Investing in the Sahel countries can provide a number of benefits, such as access to a growing market, the opportunity to diversify a portfolio, participation in infrastructure and energy development, and the establishment of long-term partnerships with African countries.