Summit showcases growing clout

NAMPA
Thibaut Marchand - President Vladimir Putin has called the first ever summit with dozens of African leaders "unprecedented" as Sochi prepared to host over 3 000 business representatives and other delegates.

Putin contrasted Russia's approach to cooperation with Africa to what he called the West's desire to "pressure, frighten and blackmail" African leaders in order to "reap superprofits".

Russia is "preparing and carrying out investment projects worth billions of US dollars" in Africa, Putin said in an interview with TASS news agency.

Moscow was a crucial player on the continent in the Soviet era, backing independence movements and training a generation of African leaders.

But Moscow's ties with Africa declined with the collapse of the Soviet Union in 1991 and in recent years China has emerged as a top foreign power on the continent, forcing Russia to play catch-up.

Borrowing from China

In many ways the Kremlin is borrowing from China's playbook.

To expand its influence, Beijing in 2000 launched the Forum on China-Africa Cooperation and has poured tens of billions of US dollars into the continent.

Russia cannot match China's economic might but, like Beijing, it is prepared to support African leaders with controversial rights records in exchange for access to the continent's riches.

The leaders of former Soviet client states such as Angola and Ethiopia will be at the summit as well as representatives of countries where Moscow's engagement has been traditionally low, like Nigeria and Ghana.

Home ground

Putin, who has been in power for the past 20 years, has preferred to host African leaders at home.

The only country in Sub-Saharan Africa Putin has been to as president is South Africa, which he has visited three times since 2006.

Analysts say Russia will not be able to compete with China and the West in Africa any time soon.

"Russia is not the Soviet Union. It lacks the resources, the ideology, and the appeal of its predecessor," said Paul Stronski, a senior fellow at the Carnegie Endowment for International Peace.

At the same time Russia should not be dismissed as a minor player, Stronski, a former US State Department analyst, said in a report this month.

"Moscow boasts an agile and skilled diplomatic establishment and lacks ethical constraints in pursuit of its objectives." –Nampa/AFP

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Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 627.40/OZ UP +0.27% | Copper US$ 4.32/lb UP +0.37% | Zinc US$ 2 891.00/T UP 0.21% | Brent Crude Oil US$ 73.44/BBP DOWN -0.0144 | Platinum US$ 958.05/OZ DOWN -0.0123 Sport results: Currie Cup: Fidelity ADT Lions 14 vs 16 Hollywoodbets Sharks XV Rugby Championship: Argentina 29 vs 28 Springboks | Australia 28 vs 31 New Zealand Premier League: Manchester City 2 vs 2 Arsenal | Brighton 2 vs 2 Nottingham Forest | Crystal Palace 0 vs 0 Manchester United | Tottenham Hotspur 3 vs 1 Brentford | Southampton 1 vs 1 Ipswich Town | Liverpool 3 vs 0 Bournemouth | Leicester City 1 vs 1 Everton | Fulham 3 vs 1 Newcastle | Aston Villa 3 vs 1 Wolves | West Ham 0 vs 3 Chelsea LaLiga: Rayo Vallecano 1 vs 1 Atletico Madrid | Villarreal 1 vs 5 Barcelona | Athletic Club 3 vs 1 Celta Vigo | Getafe 1 vs 1 Leganés | Real Madrid 4 vs 1 Espanyol | Valencia 2 vs 0 Girona | Osasuna 2 vs 1 Las Palmas | Real Valladolid 0 vs 0 Real Sociedad | Deportivo Alaves 2 vs 1 Sevilla SerieA: Inter Milan 1 vs 2 AC Milan | AS Roma 3 vs 0 Udinese | Monza 1 vs 2 Bologna | Fiorentina 2 vs 1 SS Lazio | Lecce 2 vs 2 Parma | Juventus 0 vs 0 Napoli | Venezia 2 vs 0 Genoa | Hellas Verona 2 vs 3 Torino | Cagliari 0 vs 2 Empoli European Championships Qualifying: Preston North End 0 vs 0 Blackburn Rovers | West Bromwich Albion 1 vs 0 Plymouth Argyle | Sheffield United 1 vs 0 Derby County | Luton Town 2 vs 1 Sheffield Wednesday | Coventry City 1 vs 2 Swansea City | Cardiff City 0 vs 2 Leeds United | Burnley 2 vs 1 Portsmouth | Bristol City 2 vs 1 Oxford United | Sunderland 1 vs 0 Middlesbrough | Queens Park Rangers 1 vs 1 Millwall FC | Norwich City 4 vs 1 Watford | Stoke City 1 vs 3 Hull City English Championship: Preston North End 0 vs 0 Blackburn Rovers | West Bromwich Albion 1 vs 0 Plymouth Argyle | Sheffield United 1 vs 0 Derby County | Luton Town 2 vs 1 Sheffield Wednesday | Coventry City 1 vs 2 Swansea City | Cardiff City 0 vs 2 Leeds United | Burnley 2 vs 1 Portsmouth | Bristol City 2 vs 1 Oxford United | Sunderland 1 vs 0 Middlesbrough | Queens Park Rangers 1 vs 1 Millwall FC | Norwich City 4 vs 1 Watford | Stoke City 1 vs 3 Hull City Weather: Katima Mulilo: 19° | 35° Rundu: 19° | 36° Eenhana: 23° | 36° Oshakati: 23° | 36° Ruacana: 21° | 35° Tsumeb: 23° | 33° Otjiwarongo: 18° | 29° Omaruru: 19° | 29° Windhoek: 17° | 26° Gobabis: 19° | 27° Henties Bay: 13° | 20° Wind speed: 22km/h, Wind direction: S, Low tide: 08:12, High tide: 02:24, Low Tide: 20:36, High tide: 14:35 Swakopmund: 13° | 17° Wind speed: 21km/h, Wind direction: SW, Low tide: 08:10, High tide: 02:22, Low Tide: 20:34, High tide: 14:33 Walvis Bay: 14° | 27° Wind speed: 24km/h, Wind direction: SW, Low tide: 08:10, High tide: 02:21, Low Tide: 20:34, High tide: 14:32 Rehoboth: 17° | 30° Mariental: 18° | 33° Keetmanshoop: 19° | 32° Aranos: 18° | 31° Lüderitz: 13° | 23° Ariamsvlei: 17° | 32° Oranjemund: 13° | 23° Luanda: 22° | 23° Gaborone: 13° | 29° Lubumbashi: 16° | 32° Mbabane: 9° | 25° Maseru: 12° | 23° Antananarivo: 14° | 23° Lilongwe: 15° | 29° Maputo: 16° | 27° Windhoek: 17° | 26° Cape Town: 14° | 20° Durban: 14° | 27° Johannesburg: 12° | 23° Dar es Salaam: 24° | 31° Lusaka: 14° | 29° Harare: 13° | 27° Economic Indicators: Currency: GBP to NAD 23.02 | EUR to NAD 19.24 | CNY to NAD 2.45 | USD to NAD 17.3 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.27 | EGP to NAD 0.35 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.64 | ZWL to NAD 0.04 | BRL to NAD 3.11 | RUB to NAD 0.19 | INR to NAD 0.21 | USD to DZD 132.3 | USD to AOA 929.24 | USD to BWP 13.15 | USD to EGP 48.61 | USD to KES 128.48 | USD to NGN 1593.05 | USD to ZAR 17.34 | USD to ZMW 26.42 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1831.97 Down -0.38% | Casablanca Stock Exchange (CSE) MASI 14246.86 Up +0.44% | Egyptian Exchange (EGX) 30 Index 31038.41 Up +0.33% | Botswana Stock Exchange (BSE) DCI 9651.25 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 627.40/OZ UP +0.27% | Copper US$ 4.32/lb UP +0.37% | Zinc US$ 2 891.00/T UP 0.21% | Brent Crude Oil US$ 73.44/BBP DOWN -0.0144 | Platinum US$ 958.05/OZ DOWN -0.0123