The Russian president offered closer economic cooperation as African leaders called for investment that creates jobs and supports local industry

Russia and Africa can expand trade and share technology while reducing dependence on Western financial systems, President Vladimir Putin said at the Russia-Africa Economic and Humanitarian Forum in Moscow on Wednesday.

The event forms part of the third Russia-Africa summit, bringing delegations from 48 African countries to Moscow on October 28–29.

Speaking alongside Burundian President and African Union chair Evariste Ndayishimiye, Putin proposed closer banking links, called for bilateral trade to at least double, and offered Russian expertise in energy, agriculture, healthcare, and artificial intelligence.

Here are the key takeaways from the speeches and opening-day announcements.

An alternative to Western financial dependence

Putin urged Russian and African banks to expand direct ties, open branches in each other’s markets and strengthen payments in national…