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The President of the Republic, H.E. Obiang Nguema Mbasogo, advocated local processing of natural resources and economic diversification as pillars of African industrial sovereignty during his address to the Third Russia–Africa Summit, which resumed on Thursday, 29 October 2026, at the Grand Kremlin Palace in Moscow.
The day began with the official photograph of heads of state, government and delegation, followed by the plenary session. In his address, the Equatorial Guinean leader called for cooperation with Russia focused on building productive capacity and delivering sustainable short-, medium- and long-term results, beyond assistance and isolated infrastructure projects, in support of the Sustainable Development Goals.
“We cannot be content with supplying raw materials to feed the economies of other continents while our countries continue to import numerous products that we could manufacture and process locally,” he stated.
The Head of State placed genuine economic independence at the centre of his message and highlighted three priorities: developing resources responsibly, processing them locally and creating value chains in Africa.
In this context, he presented the Horizon 2035 National Development Agenda as an instrument for diversifying Equatorial Guinea’s economy. “Natural resources, however important they may be, cannot form the sole basis of our growth,” he said.
The strategy comprises six areas: agro-industry and food security; fisheries and the blue economy; tourism; energy and manufacturing; new technologies; and strengthening the national private sector.
The aim is for raw materials to generate value within national borders, local companies to join international value chains, young people to gain access to employment, and growth to translate into development and social well-being.
The President recalled the former Soviet Union’s support for the liberation of African peoples from colonialism and placed present-day cooperation with Russia in the context of the economic and security challenges facing the continent.
He also thanked Moscow for supporting the common African position on reform of the United Nations Security Council and called for permanent African representation with veto power to correct a historical injustice.
In closing, he invited Russian partners to jointly design “concrete, viable and sustainable projects that combine human capital, technology, vocational training and effective participation by our national companies”. The proposal seeks an alliance to industrialise the continent by processing its resources on African soil.
Regarding the security context, Moscow Mayor Sergei Sobyanin reported that 613 drones headed towards the Moscow region between 8:30 p.m. on 28 October and 7:00 a.m. on 29 October, local time. According to his statement, most were neutralised by air defences on the distant approaches. The PDGE Press Department’s account states that the Summit’s proceedings continued without interruption.
Reporting: Luis Ndong Owono, Presidential Press Team. Source: PDGE Press Department. Photographs: Photographic Agency of the Third Russia–Africa Summit and the Russia–Africa Economic and Humanitarian Forum, and Miguel Angel Mba Onva.
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