Get Guardian on GoogleRussian President Vladimir Putin has urged African countries to explore alternative international payment systems, promoting a Russian-backed platform designed to facilitate cross-border transactions outside conventional Western financial networks.
Putin made the proposal at the third Russia-Africa Summit, where Russian officials presented the capabilities of A7, a financial technology company seeking to expand its operations across African markets.
Speaking during an exhibition of Russian technological solutions, Putin said emerging payment technologies could enable transactions involving conventional and digital currencies while reducing dependence on existing international financial infrastructure.
“Digital currencies are being developed in the United States, and they are being developed here as well. So why can’t the African continent connect to this high-tech network?” Putin said.
The president also emphasised the sovereign nature of the payment network presented and its independence from external restrictions.
“No one will block anything for you. From the point of view of modern technologies, it is impossible to block such payments. Simply impossible,” Vladimir Putin said.
Deputy Prime Minister of the Russian Federation, Minister of Finance Anton Siluanov, spoke about A7’s entry into the African international payments market, highlighting its speed and low cost.
“Payments are fast, in one click, and the cost is only 0.3% — that is extremely low for transactions,” Anton Siluanov said.
Deputy Head of the Presidential Executive Office of the Russian Federation Maxim Oreshkin said that Russian banks teamed up with foreign partners and non-credit financial organisations to conduct payments worldwide without using the Western financial system. He emphasised Russia’s readiness to share these technologies with other states.
A7 is developing international payment infrastructure, including in Africa. In 2025, the company opened representative offices in Nigeria and Zimbabwe.
A7 is a Russian international payments company, created in 2024 with the participation of PSB. Its payment infrastructure covers more than 100 countries, and its services are used by over 15,000 participants in foreign economic activity. In 2025, the volume of payments made through A7 exceeded RUB 10 trillion.
Watch This Clip of President Putin talking about how African countries can benefit from the next-generation payment system.
