In 2017, Russian-African trade surged to $17.4 billion, up significantly from $5.7 billion in 2009. Although Russia’s trade volumes with Africa are relatively tiny, exports represent a larger share of its GDP than China's or India's.
"We need to raise private sector capital, because the public sector alone cannot deliver Africa's transformation," he told business leaders and investors gathered at the French finance ministry.
The situation of people like Rivele shows both the potential benefits - and unintended consequences - of a new law signed by President Cyril Ramaphosa in August, aimed at protecting vulnerable borrowers.
The blueprint seeks to facilitate the country to attract a concentration of participants in banking, asset management, insurance or financial markets with venues and supporting services for these activities to take place.