Glencore plans job cuts at South African ferrochrome and vanadium operations
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Russia should strengthen ties with Africa as Western nations shun relations in response to its invasion of Ukraine, according to South Africa’s envoy to the country.
“Russia is isolated, it can’t trade fluidly with Europe because of sanctions,” South Africa’s ambassador to Russia, Mzuvukile Maqetuka, said on the sidelines of a Russia-Africa summit in Saint Petersburg on Wednesday. “Africa then becomes quite important for Russia as a trading partner.”
While Pretoria has faced criticism from the US and European Union for adopting a non-aligned stance on the invasion, Maqetuka called for it to forge an even closer relationship with Russia.
“We have to up investment and trade,” he said. Bilateral investments remains very low and two-way trade has been “flat over the past 12 years,” he said.
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