African transnational business

The article presents results of the analysis of African transnational corporations (TNCs) which is a relatively new phenomenon. Based on contradictory statistical data, the author presents data on the leading sources of legal capital outflows in the form of foreign direct investment (FDI) in Africa. The specifics of FDI outflows from South Africa, Arab countries of North Africa, Nigeria and other significant countries of Tropical Africa are shown. The importance of cooperation between Russian companies and African TNCs in the investment development of Africa is emphasized. It is argued that without strengthening Russian direct investors on this continent, it is impossible to expect further significant growth in Russia’s foreign trade turnover with African countries, which accounted for only 3.5% of its volume in 2023.

The author notes that if Russia’s turn towards the global South is limited to strengthening ties with two or three dozen Asian countries, it is unlikely that Russia will be able to take leading positions in the emerging polycentric world order. The support of African states freed from European colonial oppression is necessary in the confrontation with the collective West, but the attitude towards the policy of the Russian Federation is largely associated with the intensity of economic contacts.