The article deals with the diversification of economic ties between Russia and Africa through shifting of the traditional export-import business model to an investment-based one. Foreign trade dominates in the relations between Russia and the emerging markets. The essence of such relations contains the increases in turnover of trade between Russia and Africa. Different forces have depleted the business usefulness of foreign trade and its objective good features have dissipated. These forces are active now and, probably, will increase their influence. Therefore, it is important to prospect for practical ways of undertaking Russian investment-based ventures in Africa. The implementation of new models into the business ties between Russia and the African nations will introduce new forms of innovative interaction in business and finance. Eventually, the long-term relations between Russia and African states may improve. Foreign direct investments (FDI) inflows to African manufacturing have become important determinants of long-term development. Such flows also influence the type of economic growth and capital formation. Foreign assets have become a real factor of development, an acceleration and modernization trigger for host countries. The FDI inflows can also intensify and enhance bilateral ties between home and host countries of multinational enterprises (MNE). The enhancements of FDI-based relations between Russia and African nations, including further diversification of host industries and forms of investments, can intensify bilateral trade and other forms of MNE operations, in particular, industrial cooperation, construction, subcontracting, technology and patent transfer.
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