The author presents a vision of the mainstream vectors of global development against the backdrop of the “Grand Challenges” of the 21st century. He formulates optimal ways for Russia and Africa to interact in order to achieve the goals set by the UN Third International Conference on Financing for Development. The author proposes a RUSAFRICA project, which combines a dual goal of boosting economic, social and technological development of both Russia and Africa. The project envisages an integrated cooperative approach to mutually significant economic, technological and infrastructural requirements and capacities while prioritizing the human development aspect. Innovative approaches to mutual cooperation shale open ways to promoting Russian technologies and innovative products to new markets, generating growth of income from exports of high technology products and services with the aim to enhance Russia’s influence and competitive strengths, in accordance with the Scientific and Technological Development Strategy of the Russian Federation.