BRICS Archives - African Leadership Magazine https://www.africanleadershipmagazine.co.uk/tag/brics/ Most Reliable Source for Afro-centric News Tue, 28 Jan 2025 11:19:45 +0000 en hourly 1 https://wordpress.org/?v=6.2.6 https://www.africanleadershipmagazine.co.uk/wp-content/uploads/2019/01/cropped-289x96-32x32.jpg BRICS Archives - African Leadership Magazine https://www.africanleadershipmagazine.co.uk/tag/brics/ 32 32 BRICS, Geopolitics, and Africa: Who Holds the Cards? https://www.africanleadershipmagazine.co.uk/brics-geopolitics-and-africa-who-holds-the-cards/ Tue, 28 Jan 2025 11:19:45 +0000 https://www.africanleadershipmagazine.co.uk/?p=65141 The global stage is set, and a new script is unfolding, one where Africa is no longer a mere backdrop but a central character. As BRICS expands its reach, pulling.

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The global stage is set, and a new script is unfolding, one where Africa is no longer a mere backdrop but a central character. As BRICS expands its reach, pulling Africa closer into its orbit, one question looms larger than ever: Is Africa the kingmaker in this high-stakes geopolitical game, or just another pawn in the hands of global powers? The suspense grows with every move, and the stakes grow ever higher.

 

Africa’s position on the BRICS stage has transformed the continent into a shimmering prize, laden with abundant resources and untapped potential. But Africa is no passive observer; it is an active contender reshaping its narrative. With a population surpassing 1.4 billion, a youthful workforce, and vast natural resources, the continent stands as a key chess piece in the emerging multipolar world order.

 

“Africa is not just the next frontier; it is the beating heart of the global south’s resurgence,” remarked a Nigerian economist during the 2024 BRICS Summit. This sentiment underscores Africa’s crucial role in driving the bloc’s ambitions to challenge Western hegemony.

 

BRICS’ decision to expand its membership underscores its ambitions to amplify its global influence. Nations like Nigeria, Saudi Arabia, and Egypt are eyeing closer ties, seeking to benefit from the bloc’s economic muscle. Yet, expansion brings complexities. As BRICS grows, can it sustain its cohesion?

 

The bloc resembles a ship; each new member adds weight. Will this vessel sail smoothly into the waters of global transformation, or will its increasing burden slow it down?

 

China and Russia: The Architects of Influence

China and Russia dominate BRICS as both benefactors and strategists. Beijing’s Belt and Road Initiative (BRI) has woven Africa’s infrastructure into its economic framework. Roads in Kenya, railways in Ethiopia, and ports in Djibouti are tangible symbols of this interconnected web. Yet critics caution against hidden debt traps beneath these opportunities.

 

Russia, too, plays a calculated hand. From security partnerships to arms deals, Moscow aims to win Africa’s trust amidst its confrontation with the West. For African nations, the challenge lies in determining whether these partnerships represent paths to prosperity or potential pitfalls.

 

Africa’s vast resources, from cobalt in the Congo to oil in Nigeria, are more than commodities—they are strategic assets. The global shift to green energy makes Africa indispensable, with its reserves of lithium and rare earth elements powering renewable ambitions.

 

But the continent’s leaders must tread carefully. Negotiating with BRICS requires a delicate balance between welcoming investments and safeguarding sovereignty. “We hold the cards, but playing them wisely is the real test,” cautioned an African Union delegate during recent trade talks.

What Africa Might Gain from BRICS

Africa stands to gain significantly from BRICS membership, particularly through access to capital and investment. The bloc’s financial strength, exemplified by the New Development Bank, offers funding for large-scale infrastructure, technology, and industrialisation projects vital for the continent’s development.

 

Additionally, Africa can benefit from technology transfers and partnerships in renewable energy, agriculture, and manufacturing, boosting local industries and digital infrastructure. Improved trade relations with BRICS nations open vast consumer markets for African exports, from agricultural products to minerals.

 

Collaboration with BRICS also strengthens Africa’s voice in global governance, offering a platform to advocate for greater representation in decision-making bodies such as the UN Security Council and the World Bank. Furthermore, BRICS’ focus on climate change and renewable energy aligns with Africa’s green energy potential, positioning the continent as a key player in sustainable development.

 

What Africa Brings to BRICS

Africa’s contributions to BRICS are substantial, starting with its vast reserves of natural resources, including gold, diamonds, oil, and rare earth minerals. These resources are essential for global manufacturing, energy, and technology, benefitting BRICS nations reliant on these supplies.

 

Africa’s growing population of over 1.4 billion offers a youthful, dynamic workforce poised to drive technological innovation and economic growth. The African Continental Free Trade Area (AfCFTA) fosters regional integration, creating a unified and competitive market that enhances trade and investment opportunities for BRICS.

 

Geopolitically, Africa’s strategic position and influence help BRICS expand its global reach, diversifying alliances and bolstering the push for a multipolar world order. These contributions not only strengthen BRICS but also enhance its economic and political leverage on the global stage.

 

A Battle of Giants

BRICS serves as a counterweight to Western-dominated institutions like the IMF and World Bank. For Africa, often sidelined in these global bodies, BRICS presents a promising ally in the push for reforms. The establishment of a BRICS development bank provides alternative funding sources for infrastructure and development.

 

However, the tug-of-war between the West and BRICS places Africa in a delicate position. Aligning with BRICS could unlock new opportunities but might also risk alienating traditional partners.

Will Africa’s Voice Grow Louder?

The story of Africa in BRICS is one of suspense. Can Africa’s leaders craft a unified strategy to amplify their voice, or will internal divisions weaken their influence on this global stage? As the bloc tackles critical issues such as climate change and digital security, Africa’s participation will undoubtedly shape the outcomes.

 

BRICS is more than an economic bloc; it is a vision for a new world order. Africa’s involvement offers a unique opportunity to lead rather than follow. From Rwanda’s pioneering energy initiatives to Nigeria’s push for tech-driven growth, African nations have the potential to redefine leadership within BRICS.

 

This is more than geopolitics, it is the crafting of history. In the grand game of geopolitics, the cards are dealt, but the game is far from over. The question remains: will Africa play its hand boldly or cautiously?. The answer will not lie in boardrooms and summits, but in the hearts and ambitions of a continent ready to rise.

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BRICS Banknote: The Implications Banknote on Intra-African Trade https://www.africanleadershipmagazine.co.uk/brics-banknote-the-implications-banknote-on-intra-african-trade/ Fri, 25 Oct 2024 08:00:10 +0000 https://www.africanleadershipmagazine.co.uk/?p=63842 The BRICS group—initially comprising Brazil, Russia, India, China, and South Africa—has introduced a new BRICS banknote to enhance economic cooperation among its member states. This banknote, intended as an alternative.

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The BRICS group—initially comprising Brazil, Russia, India, China, and South Africa—has introduced a new BRICS banknote to enhance economic cooperation among its member states. This banknote, intended as an alternative to the widely used US dollar, could reshape trade dynamics, particularly within Africa. Its potential impact is especially relevant with the growth of intra-African trade through initiatives like the African Continental Free Trade Area (AfCFTA).

 

The introduction of the BRICS banknote aims to strengthen collaboration and facilitate trade among member nations, promoting financial stability and offering an alternative to the Western-dominated financial system. This development is significant for Africa, where several countries, including newly added members like Nigeria and Algeria, have strong financial ties to Western powers.

 

During the Russia-Ukraine war, Russia faced numerous economic sanctions from the European Union and other international institutions. In response, Russian President Vladimir Putin stated, “The dollar remains the most important tool in global finance, but using it as a political weapon undermines trust in the currency. If they (the West) block us, we’ll find alternatives.” This sentiment paved the way for the BRICS banknote, whose primary goal is to simplify cross-border transactions among member states.

 

The banknote has the potential to provide a more stable medium for trade by reducing transaction costs and time, particularly given the currency volatility and exchange rate risks prevalent in Africa. Businesses trading across African nations could benefit from settling payments in a common currency, thereby reducing currency conversion expenses and uncertainties.

 

The introduction of the BRICS banknote could also strengthen regional economic ties by fostering closer collaboration among BRICS nations and promoting economic growth. A common currency would allow countries to better align their economic policies and reduce trade barriers, potentially increasing intra-African trade. This, in turn, could improve supply chain efficiencies and enable countries to leverage one another’s economic strengths.

 

However, the effective utilisation of the BRICS banknote faces several challenges, including political instability, varying economic conditions, and differing regulatory frameworks among member states. Historical tensions, divergent political agendas, and competition for resources could further hinder cooperation. Additionally, the initiative could strain relationships between BRICS nations and Western powers, highlighting the need for open dialogue and a framework that promotes mutual benefit.

 

The BRICS banknote could also influence trade policies across Africa by encouraging African nations to align their trade frameworks with BRICS objectives. This focus on the BRICS currency might prompt African nations to develop their own regional currencies, bolstering economic sovereignty and reducing dependency on foreign currencies.

 

The implications of the BRICS banknote for intra-African trade are significant and multifaceted. By streamlining transactions, fostering regional cooperation, and influencing trade policies, this initiative has the potential to enhance economic integration across the continent. However, successful implementation will require overcoming challenges related to political trust and economic alignment.

 

As Africa continues to shape its economic future, the BRICS banknote could serve as a catalyst for a more interconnected and prosperous trading environment. In the long term, this initiative could not only bolster intra-African trade but also position the continent as a key player in the global economy, leveraging its abundant resources and youthful population.

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16th BRICS Summit: President Ramaphosa Calls for Enhanced Security Cooperation https://www.africanleadershipmagazine.co.uk/16th-brics-summit-president-ramaphosa-calls-for-enhanced-security-cooperation/ Thu, 24 Oct 2024 12:36:50 +0000 https://www.africanleadershipmagazine.co.uk/?p=63827 South African President Cyril Ramaphosa has called on BRICS member nations to prioritise enhanced security cooperation, emphasising that this will strengthen the bloc’s cohesion and global influence.   Addressing leaders.

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South African President Cyril Ramaphosa has called on BRICS member nations to prioritise enhanced security cooperation, emphasising that this will strengthen the bloc’s cohesion and global influence.

 

Addressing leaders from Brazil, Russia, India, and China at the 16th BRICS Summit in Kazan, Russia, President Ramaphosa stressed the need for collective action to tackle global challenges, including terrorism, cybercrime, and emerging threats from new technologies such as artificial intelligence.

 

Call for Renewed Security Cooperation

Ramaphosa highlighted the importance of multilateral efforts among BRICS countries to foster mutual trust and practical collaboration. “It is through cooperation, not competition, that we can address the complex security issues facing the world today,” he stated. His call for renewed security cooperation comes at a time when multilateralism is under strain, and global challenges are increasingly interconnected.

 

The President also pointed to rising instability in various regions and the growing threat of cybercrime as critical issues BRICS must address. He stressed that working together as a bloc would enable BRICS to tackle these challenges effectively while safeguarding the interests of the Global South.

 

South Africa’s Vision for G20 Leadership

Looking ahead, Ramaphosa announced that South Africa will assume the G20 Presidency next year under the theme “Solidarity, Equality, and Sustainable Development.” He framed this as an opportunity for South Africa to rally international support for practical solutions to global issues, particularly in the areas of security and sustainable development.

 

He emphasised that solidarity between nations is crucial for addressing shared challenges. “In an interconnected world, the challenges faced by one nation affect all nations. We must advance mutual support to ensure fair treatment and equitable opportunities for all,” Ramaphosa noted.

 

BRICS Expansion: A Voice for the Global South

A key highlight of the summit was the expansion of BRICS, with the inclusion of Argentina, Egypt, and Ethiopia. Ramaphosa described this as a significant moment for the Global South, showcasing the growing relevance and influence of BRICS on the world stage. “The expansion of BRICS is evidence of the increasing value of our cooperation,” he remarked.

 

The addition of these emerging economies is expected to enhance BRICS’ role in shaping a more multipolar world order. This expansion aligns with BRICS’ objective of representing the interests of developing nations and providing a counterbalance to Western dominance.

 

Ramaphosa reiterated BRICS’ commitment to advocating for a fairer global governance system, including the reform of international institutions like the United Nations Security Council (UNSC). He stressed the need for an inclusive and representative UNSC, arguing that its current structure fails to reflect the interests of the global community.

 

BRICS and Africa: Partners in Development

For South Africa, BRICS represents a crucial platform for advancing Africa’s development. Ramaphosa emphasised that BRICS can play a vital role in supporting the African Continental Free Trade Area (AfCFTA), particularly by promoting industrialisation and the production of manufactured goods.

 

He expressed hope that BRICS nations would invest in Africa’s industrial growth to reduce reliance on raw material exports. Ramaphosa also reaffirmed South Africa’s commitment to neutrality in global geopolitics, positioning the country as a non-aligned partner dedicated to peace and cooperation. “As BRICS countries, we demonstrate the benefits of cooperation over competition,” he added.

 

Addressing Global Conflicts and Injustice

Ramaphosa also addressed global conflicts, drawing parallels between South Africa’s anti-apartheid struggle and the plight of the Palestinian people. He reaffirmed South Africa’s support for the Palestinian cause and expressed concern over the escalating violence in the region.

 

He urged the international community to work towards peace and security through collective will, criticising the UNSC for its failure to maintain international peace. Ramaphosa called on BRICS to use its influence to advocate for reforms within the UNSC and other international bodies to make them more representative and inclusive.

 

A New Path for BRICS

As BRICS evolves with the inclusion of new members and expands its global footprint, Ramaphosa underscored the importance of maintaining unity and building consensus. He expressed confidence that BRICS, through collective effort, can address pressing global issues such as climate change, security threats, and economic inequality.

 

In conclusion, President Ramaphosa thanked Russian President Vladimir Putin for hosting the summit and reiterated the importance of BRICS in shaping a fair and just global order for all.

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Rise of BRICS: The Dawn of a New Global Balance https://www.africanleadershipmagazine.co.uk/rise-of-brics-the-dawn-of-a-new-global-balance/ Wed, 23 Oct 2024 11:34:05 +0000 https://www.africanleadershipmagazine.co.uk/?p=63821 The rise of BRICS, a coalition comprising Brazil, Russia, India, China, South Africa, and now Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, marks a significant shift towards.

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The rise of BRICS, a coalition comprising Brazil, Russia, India, China, South Africa, and now Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, marks a significant shift towards a multipolar world. Economic power is becoming more evenly distributed, and the West’s dominance is gradually waning. This change is not only reshaping global alliances but also redefining the dynamics of geopolitics, trade, and finance.

 

Origins and Growth of BRICS

BRICS began as a modest idea in the early 2000s, conceptualised by Goldman Sachs economist Jim O’Neill. Initially, it was an informal discussion among leaders of emerging economies, but it quickly developed into a collective economic force. The founding members aimed to create an alternative to the Western-dominated global order, striving for more equitable representation in institutions such as the International Monetary Fund (IMF) and the World Bank.

 

Since its inception, BRICS has significantly expanded its influence, now representing over 35% of global GDP and surpassing the G7 nations in terms of purchasing power parity (PPP). Its continued expansion, with countries like Argentina, Iran, and Saudi Arabia expressing interest in joining, signals a broader movement towards a more inclusive global power structure.

 

Energy Dynamics within BRICS

Energy plays a crucial role in the BRICS coalition, which includes some of the world’s largest energy producers and consumers. With the recent inclusion of Iran, Saudi Arabia, and the UAE, BRICS+ now accounts for approximately 32% of global natural gas production and 43% of crude oil output. According to the Boston Consulting Group, should countries like Kazakhstan, Kuwait, and Bahrain join, these figures are expected to increase further. BRICS+ nations also account for 38% of global petroleum imports, with China and India being the largest consumers. If all potential members are admitted, this share could rise to 55%.

 

In times of energy market volatility, BRICS’ position as a significant player could enable the development of an alternative energy trading system. This would allow BRICS+ nations to conduct transactions outside the Western-dominated financial frameworks, potentially granting them greater control over global oil prices and insulating them from sanctions.

 

The Impact of the Russia-Ukraine Conflict

The Russia-Ukraine war has acted as a catalyst for BRICS’ evolution. Western sanctions against Russia have driven it to strengthen economic and strategic ties within the BRICS bloc, especially with China and India. This realignment has allowed Russia to mitigate the economic effects of isolation, particularly as its energy exports to India and China have surged. This shift highlights BRICS’ growing capacity to act as an alternative framework for trade and diplomacy, challenging Western efforts at economic containment.

 

Africa’s Role in BRICS

Africa’s role in BRICS is increasingly significant. South Africa, along with new members Ethiopia and Egypt, serves as a gateway for other African nations looking to join this influential group. The inclusion of more African countries is likely to amplify the continent’s role in global affairs, especially in resource-rich regions crucial to energy transitions and supply chains. Africa’s wealth of natural resources, youthful population, and growing markets make it a strategic priority for BRICS, both as a member and as a beneficiary of trade agreements that bypass traditional Western-dominated structures.

Moreover, BRICS’ New Development Bank (NDB) has made substantial investments in African infrastructure, which is vital for the continent’s economic growth. With the potential for more African countries to join, BRICS aims to expand its influence across the continent and present a credible alternative to Western economic dominance.

 

Western Concerns and the Symbolism of BRICS

Experts from institutions such as the Council on Foreign Relations have noted that BRICS could undermine the dominance of Western financial systems, particularly if it continues to develop alternative mechanisms for trade and finance, such as the NDB or a potential BRICS currency.

BRICS has come to symbolise a rising challenge to Western hegemony. As the West grapples with internal crises ranging from inflation to political instability, BRICS is positioning itself as a proponent of a more balanced global order. This shift has caused concern among Western allies, who view BRICS not just as an economic organisation, but increasingly as a political one, united by scepticism towards Western-led market liberalisation. The prospect of BRICS offering a new financial framework, independent of Western control, is particularly troubling for the US and Europe, especially with China’s Belt and Road Initiative extending its global influence.

 

Future Prospects

Despite its growing influence, BRICS faces internal challenges. The economic trajectories of its members vary significantly. China and India, the group’s largest economies, often have conflicting geopolitical interests, particularly concerning border disputes. Russia’s pariah status due to the war in Ukraine complicates its relations not only with the West but also with some BRICS members, who may be cautious about aligning too closely with Moscow.

 

Nevertheless, the inclusion of new members from Africa and the Middle East could reinvigorate BRICS, providing both economic resources and political legitimacy in an increasingly multipolar world. Ultimately, BRICS represents a reconfiguration of global power, one where the West no longer has a monopoly on international economic governance. It stands as both a challenge and an alternative, with its future likely depending on its ability to maintain internal cohesion while expanding its reach and influence in a changing global landscape.

 

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BRICS Green Technology Collaboration: Shaping a Sustainable Future with New Members https://www.africanleadershipmagazine.co.uk/brics-green-technology-collaboration-shaping-a-sustainable-future-with-new-members/ Tue, 22 Oct 2024 11:10:23 +0000 https://www.africanleadershipmagazine.co.uk/?p=63791 As the BRICS 2024 summit commences in Russia, the focus shifts to green technology innovation, with an expanded membership poised to enhance the bloc’s influence in global sustainability efforts. This.

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As the BRICS 2024 summit commences in Russia, the focus shifts to green technology innovation, with an expanded membership poised to enhance the bloc’s influence in global sustainability efforts. This year’s summit is particularly significant as Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE) officially join BRICS, introducing new dimensions of economic and environmental collaboration. With these additions, BRICS aims to advance its shared vision of green growth, technological cooperation, and global leadership in tackling climate change.

 

A Powerhouse in Global Development

Since its founding in 2009, BRICS—comprising Brazil, Russia, India, China, and South Africa—has evolved into one of the world’s most influential geopolitical alliances. Initially focused on economic cooperation, BRICS has broadened its scope to address global challenges, including climate change, sustainable development, and green innovation. Together, the original BRICS nations represent over 40% of the world’s population and contribute nearly 31.5% of global GDP, a figure expected to grow with the inclusion of new members.

The decision to expand BRICS reflects the group’s desire to diversify and enhance its influence on the world stage. The inclusion of Egypt, Ethiopia, Iran, and the UAE significantly strengthens the bloc’s position in global affairs, particularly in energy and technological innovation. This enlarged BRICS presents an opportunity for enhanced collaboration on green technology and renewable energy solutions, where these countries have made substantial progress.

 

Green Technology as a Priority

With climate change threatening to exacerbate social, economic, and environmental inequalities, BRICS has prioritised green technology innovation. The bloc’s commitment to driving advancements in renewable energy, carbon reduction, and sustainable development is evident in its recent initiatives and investments.

In 2022, BRICS nations accounted for 36% of global renewable energy capacity, according to the International Energy Agency (IEA). China leads in this area, producing over 70% of the world’s solar panels and dominating wind energy production. Meanwhile, India is rapidly expanding its renewable energy infrastructure, aiming for 500 gigawatts (GW) of renewable capacity by 2030. Brazil, with its extensive hydropower resources, and Russia, through advancements in nuclear energy and clean energy research, also make significant contributions to the bloc’s green agenda.

Reflecting the urgency of this mission, Xi Jinping, President of China, stated at a previous BRICS summit, “Our focus on clean energy is not just a necessity; it is a responsibility. As BRICS nations, we must lead the way in promoting green development for the world.” This sentiment captures the bloc’s ambition to position itself as a leader in the global fight against climate change.

 

New Members, New Strengths

The expansion of BRICS with the inclusion of Egypt, Ethiopia, Iran, and the UAE introduces fresh opportunities for collaboration in green technology. Each country brings unique strengths that can enhance BRICS’s capacity for innovation and sustainable solutions:

  • Egypt: A leading player in Africa’s renewable energy landscape, Egypt is home to the Benban Solar Park, one of the largest solar farms globally. The country has been a key advocate for climate action, hosting the COP27 summit in 2022.
  • Ethiopia: Rapidly developing its hydropower capacity, Ethiopia’s Grand Ethiopian Renaissance Dam (GERD) is set to be one of Africa’s largest hydropower installations, significantly contributing to BRICS’s green energy goals.
  • Iran: With rich natural resources, Iran is diversifying its energy portfolio through investments in wind and solar power. The country’s potential to harness these resources through green technology offers BRICS an opportunity to enhance its renewable energy capabilities.
  • UAE: Home to Masdar, a global leader in renewable energy, the UAE has invested billions in solar and hydrogen energy technologies. Its participation in BRICS is expected to accelerate the bloc’s transition toward sustainable energy solutions.

 

READ ALSO: BRICS and Africa: A Partnership for African Youths

Sustainability and Leadership Commitment

BRICS leaders consistently emphasise their commitment to advancing green technology and sustainability. Vladimir Putin, President of Russia, has highlighted the importance of cooperation in the green sector, noting that “BRICS is uniquely positioned to lead the charge in sustainable development by pooling resources and technological know-how to innovate in clean energy.” Similarly, Narendra Modi, Prime Minister of India, stressed the need for strategic partnerships during last year’s summit, stating, “By working together, BRICS can build the sustainable infrastructure needed to create a greener world.” This shared sentiment reflects a common vision: to invest in green technology and foster partnerships that drive collective success.

 

The Way Forward

As the 2024 summit unfolds in Russia, the expanded BRICS has a unique opportunity to lead global green technology innovation. With their combined economic strength and natural resources, BRICS nations are well-positioned to make significant contributions to the fight against climate change.

According to the International Renewable Energy Agency (IRENA), renewable energy investments within BRICS countries are projected to grow by 8% annually through 2030. With new members like Ethiopia, which has vast hydropower potential, and the UAE, with its advanced solar energy infrastructure, this expansion heralds a new era of green development.

The ongoing BRICS summit is not merely a meeting of nations; it is a call to action. With increased membership, greater resources, and a collective ambition to innovate, BRICS has the potential to set the global standard for green growth. As Cyril Ramaphosa, President of South Africa, aptly stated, “Our path forward must be one that leads to sustainability—not just for BRICS nations, but for the entire world.”

As the world watches the outcomes of this summit, anticipation builds that BRICS, now strengthened by its new members, will forge ahead with sustainable innovations benefiting both its economies and the global community. The time for green leadership is now, and BRICS is poised to lead the charge.

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16th BRICS Summit: What’s on the Agenda as Egypt and Ethiopia Join Coalition? https://www.africanleadershipmagazine.co.uk/egypt-and-ethiopia-join-brics-what-to-expect-at-the-16th-summit/ Tue, 22 Oct 2024 09:09:14 +0000 https://www.africanleadershipmagazine.co.uk/?p=63789 The 2024 BRICS Summit, set in Kazan, Russia, marks a significant milestone in the coalition’s development. This is the first summit since BRICS expanded its membership to include Egypt and.

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The 2024 BRICS Summit, set in Kazan, Russia, marks a significant milestone in the coalition’s development. This is the first summit since BRICS expanded its membership to include Egypt and Ethiopia, alongside Saudi Arabia, the United Arab Emirates, and Iran, doubling its membership from five to ten nations.

 

New Members and Their Impact

The addition of Egypt and Ethiopia, alongside Saudi Arabia, the UAE, and Iran, positions BRICS to strengthen its influence, particularly in Africa. Egypt, with its strategic position in North Africa, and Ethiopia, one of the fastest-growing economies on the continent, bring distinct perspectives and opportunities to the coalition.

The inclusion of these countries demonstrates BRICS’ commitment to amplifying the voices of the Global South and addressing historical imbalances in international governance. Experts expect the summit to focus on how best to integrate the new members into the BRICS framework. Wang Youming, a researcher at the China Institute of International Studies, has emphasised the importance of efficient incorporation and the possible refinement of expansion mechanisms for the future.

 

Comparing BRICS and the G7

Economic Strength
BRICS nations have seen their share of global GDP rise from 10.1% in 2002 to 37.4% in 2023. In contrast, the G7’s share has dropped from 64.4% in 2002 to an estimated 29.3% in 2023.

Looking ahead, BRICS is projected to maintain around 29.2% of global GDP in market exchange terms and 38.3% when adjusted for Purchasing Power Parity (PPP) by 2029. The G7, on the other hand, is forecast to account for 42.4% of GDP in market terms and 27.5% in PPP terms.

Debt and Fiscal Health
A report by Ernst & Young highlights that BRICS countries, with their lower debt-to-GDP ratios, are better positioned to navigate economic challenges compared to the G7 nations. This fiscal health allows BRICS nations to respond more effectively to potential economic crises.

 

Rising Global Influence

BRICS now represents over 40% of the world’s population and, as of 2021, accounted for around 25% of global GDP, contributing to more than half of global economic growth (World Bank).

Despite this, BRICS members hold less than 15% of the voting rights in key global financial institutions such as the International Monetary Fund (IMF) and the World Bank, underscoring the need for reform in global financial governance.

Boris Guseletov of the Russian Academy of Sciences suggests the summit will focus on enhancing strategic partnerships in trade, innovation, and technology to spur economic growth. A potential alternative payment system will likely be a key topic as BRICS seeks to reduce its dependence on the US dollar, which has exposed vulnerabilities in international transactions.

 

What Does This Mean for Africa?

For African nations, the inclusion of Egypt and Ethiopia offers a wealth of opportunities. Their participation in BRICS generates optimism about increased investment, trade, and technology transfer across the continent. Analysts suggest that BRICS membership could empower African countries to negotiate better deals and access funding for infrastructure projects, particularly through the New Development Bank (NDB), which was established in 2014 to support sustainable development.

Infrastructure investment is expected to be a focal point at the summit, as many African nations face challenges in this area. Strengthened partnerships in infrastructure could lead to greater regional integration and development across the continent.

 

A Challenge to Western Influence

The expansion of BRICS is seen as a challenge to Western dominance in global affairs. As the coalition grows in economic power, it could shift the balance in international relations. The integration of Egypt and Ethiopia extends BRICS’ reach into Africa, which some view as a direct challenge to traditional Western influence, particularly as these nations explore alternatives to established Western financial systems.

A more unified BRICS, with stronger African representation, could alter global trade dynamics and promote a multipolar world order. This would better represent the interests of the Global South, giving them a stronger voice on the world stage.

 

Looking Ahead

As the 16th BRICS Summit commences, the agenda is expected to cover a range of topics, including economic and political reforms in global governance and the unique opportunities arising from the coalition’s expansion.

With Egypt and Ethiopia at the table, BRICS is poised to forge new paths in international cooperation, fostering solidarity among its members and amplifying the voices of the Global South.

In an increasingly interconnected and shifting global landscape, the summit represents a pivotal moment for BRICS and its new members. Together, they hold the potential to reshape the global order, reflecting the aspirations of nations seeking a fairer, more equitable world.

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Africa’s Growing Influence in Multilateral Institutions https://www.africanleadershipmagazine.co.uk/africas-growing-influence-in-multilateral-institutions/ Fri, 20 Sep 2024 07:00:54 +0000 https://www.africanleadershipmagazine.co.uk/?p=63154 Africa’s role in global diplomacy and its influence within multilateral institutions have become increasingly significant in recent years. As the continent tackles complex challenges such as economic disparities and climate.

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Africa’s role in global diplomacy and its influence within multilateral institutions have become increasingly significant in recent years. As the continent tackles complex challenges such as economic disparities and climate change, African nations are asserting their voices and shaping global policies in key areas including trade, finance, and development.

 

A notable area of growth is Africa’s involvement in reforming the global financial architecture. African leaders have long advocated for a more equitable system tailored to the continent’s unique needs. This advocacy has led to various initiatives aimed at addressing systemic inequalities within global financial structures.

 

For example, recent dialogues have seen African leaders, including Ghana’s President Nana Akufo-Addo, champion the creation of African financial institutions like the African Monetary Fund (AMF) and the African Central Bank (ACB). These institutions aim to enhance Africa’s financial sovereignty and reduce reliance on external systems that often do not align with the continent’s developmental goals.

 

The African Union (AU) has also played a pivotal role in multilateral engagements, pushing for reforms in global decision-making bodies. The AU has spearheaded initiatives such as the African Continental Free Trade Area (AfCFTA), which is on track to become one of the world’s largest free trade areas. AfCFTA has already made significant strides, with 47 countries ratifying the agreement and cross-border goods movement commencing. This initiative not only bolsters intra-African trade but also positions the continent as a formidable player in global markets.

 

Furthermore, African leaders and institutions are increasingly participating in platforms like the World Economic Forum (WEF), where discussions on bridging the gap between the global North and South are prominent. Key figures such as Rwandan President Paul Kagame and WTO Director-General Ngozi Okonjo-Iweala have highlighted Africa’s role in addressing global inequality and promoting fair trade practices.

 

Alliances like BRICS, which now includes South Africa, Ethiopia, and Egypt, further demonstrate Africa’s growing diplomatic influence. By engaging in such intergovernmental organisations, African nations are shaping alternative frameworks for global governance and advocating for reforms that align with their developmental objectives.

 

Africa’s Drive for a UN Security Council Seat

Kenya’s President William Ruto has argued that the global financial and diplomatic architecture is fundamentally unjust and fails to accommodate Africa’s increasing influence and needs. Their calls for reform extend beyond the UNSC to global financial institutions. The inequities in vaccine access during the COVID-19 pandemic underscored these systemic issues. As of 2024, the emergence of mpox in the Democratic Republic of Congo, with over 500 deaths, has renewed concerns about global health inequities, prompting African leaders to advocate for more equitable international cooperation.

 

The rise of multipolarity, with growing competition among global powers such as the U.S., China, and Russia, has elevated Africa as a key geopolitical player. However, African countries remain cautious about aligning too closely with any one bloc, emphasising their independence and non-alignment, as demonstrated by South Africa’s role in mediating international conflicts like the Ukraine-Russia crisis.

 

At the United Nations, African countries represent over a quarter of the organisation’s membership, highlighting their critical role in global diplomacy. Nevertheless, Africa remains under-represented in key decision-making bodies, particularly the UN Security Council, where calls for a permanent African seat have intensified. Leaders such as South Africa’s Cyril Ramaphosa have advocated for reforms, arguing that the current structure undermines the continent’s contributions to peace, security, and economic stability.

 

In this evolving geopolitical landscape, African leaders are keen to enhance the continent’s influence in addressing crucial issues such as climate change, debt relief, and global health, as outlined in the African Union’s Agenda 2063. Africa’s peace missions and growing engagement in global diplomacy reflect a shift towards a more assertive role on the global stage.

 

READ ALSO: Strategies and Obstacles in the Pursuit of Gender Parity in African Politics

Africa’s increasing influence in multilateral institutions is reshaping global diplomacy. Through initiatives like AfCFTA, engagement in financial reforms, and participation in significant global dialogues, African nations are asserting their role as critical players in tackling the world’s most pressing challenges. This growing influence is likely to lead to a more inclusive and equitable global order that better reflects Africa’s aspirations.

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What Are BRICS Countries Doing Right Economically? https://www.africanleadershipmagazine.co.uk/what-are-brics-countries-doing-right-economically/ Tue, 13 Aug 2024 09:18:06 +0000 https://www.africanleadershipmagazine.co.uk/?p=62541 The global economy finds itself at a critical juncture, having to navigate sustainable industrial approaches that are climate-friendly while also grappling with the economic turmoil brought about by the Russia-Ukraine.

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The global economy finds itself at a critical juncture, having to navigate sustainable industrial approaches that are climate-friendly while also grappling with the economic turmoil brought about by the Russia-Ukraine war. Amidst these challenges, the BRICS group has emerged as a formidable economic bloc, demonstrating impressive resilience and economic dynamism. This raises the question: what are the BRICS countries doing right, economically?

 

Originally, the BRICS group was identified to highlight investment opportunities in what were projected to be the world’s growing economies. However, in recent years, it has evolved into a geopolitical group with annual meetings, summits, and coordinated policies. The original members of the group are Brazil, Russia, India, China, and South Africa. On 1 January 2024, they were joined by Iran, Egypt, Ethiopia, and the United Arab Emirates. The BRICS countries are often regarded as the unofficial rivals of the G7.

 

BRICS nations account for approximately 30% of the world’s land surface and 45% of the global population. South Africa is the largest economy in Africa, while Brazil, Russia, India, and China are among the world’s ten largest countries by population, area, and gross domestic product (GDP). The initial five members of the BRICS group are also members of the G20. As of 2018, they had a combined nominal GDP of US$28 trillion (27% of global Gross World Product), a total GDP (PPP) of around US$57 trillion (33% of global GDP PPP), and an estimated US$4.5 trillion in combined foreign reserves.

 

The group’s economic achievements over the last 20 years have been remarkable, prompting deeper inquiry into its modus operandi to better understand the strengths of the group and how they navigate the challenges posed by modern-day economics.

Diversification

An examination of BRICS economies reveals that these countries practise economic diversification, meaning they do not rely on a single industry or product. China, for instance, has a manufacturing-focused economy and is a leader in technology and innovation. Its investments in artificial intelligence, 5G, and green technology have positioned it as a global tech powerhouse. Similarly, Brazil and South Africa have made significant advancements in agriculture, mining, and tourism, leveraging their rich natural resources and strategic geographic locations.

 

Infrastructure Investment

BRICS countries have successfully made infrastructure development a cornerstone of their economic strategy. Each of the BRICS countries is investing significantly in infrastructure development to support long-term growth. South Africa has focused on improving transportation, energy, and telecommunications infrastructure to facilitate trade and attract international investment. India’s infrastructure projects, such as the Smart Cities Mission, aim to boost urban development and economic connectivity.

 

Innovation and Technology

BRICS nations have made significant strides in technology and innovation. China’s technological advances have driven rapid growth in e-commerce, biotechnology, and electric vehicles, fuelled by government support for research and development (R&D). India, not far behind, has established itself as a global IT and tech innovation hub, with a thriving startup ecosystem and a strong emphasis on technology-driven solutions in sectors such as healthcare and education.

 

Economic Reform and Policy

The economic successes of the BRICS nations would not have been possible without the right economic reforms and prudent policy measures. Over the years, each member state has implemented economic policies that have achieved growth and stability. Russia, for instance, has shifted its focus away from oil, investing in sectors such as technology and agriculture. Brazil, on the other hand, has introduced reforms to improve its fiscal situation and ease of doing business, streamlining regulations and attracting foreign investment.

 

Building Human Capital

Investing in education and skill development has been a priority for BRICS nations. Human capital is crucial for long-term economic success, and these nations have spared no effort in maximising it. India and China have invested heavily in education and vocational training, building a skilled workforce to support diverse industries. Brazil and South Africa have initiated programmes to improve education and job readiness in their countries, further contributing to their economic growth and development.

 

The BRICS nations have displayed immense resilience through investments, policy reforms, and a focus on innovation and sustainability, which underpins their economic success. By diversifying their economies, investing in infrastructure, and fostering technological advancements, BRICS nations have positioned themselves as pivotal players in the global economy. It is crucial that African leaders review their strategies and resolve to achieve sustainable economic growth.

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Shifting Alliances: The Rise of Russian Military Influence in West Africa Amid US Withdrawal https://www.africanleadershipmagazine.co.uk/shifting-alliances-the-rise-of-russian-military-influence-in-west-africa-amid-us-withdrawal/ Thu, 13 Jun 2024 14:30:57 +0000 https://www.africanleadershipmagazine.co.uk/?p=61364 In recent years, West Africa has witnessed significant changes in its military alliances. Several countries in the region are asking US military bases to leave while inviting Russian military forces.

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In recent years, West Africa has witnessed significant changes in its military alliances. Several countries in the region are asking US military bases to leave while inviting Russian military forces to establish a presence. This strategic realignment reflects broader geopolitical shifts and raises important questions about the future of regional security and stability. This article explores the historical context of the US military presence in West Africa, the factors driving the shift towards Russia, and the potential consequences of this realignment.

 

On March 16, observers of peace and security in the Sahel region were surprised by Niger’s military spokesperson, Colonel Major Amadou Abdramane, who announced the immediate termination of Niger’s military agreement with the United States. Abdramane stated that the agreement was imposed on the country and violated its constitutional and democratic principles, infringing on Niger’s sovereignty. He further criticized the agreement as ‘profoundly unfair’ and not aligned with the aspirations and interests of the Nigerien people. As a result, he demanded the departure of over 1,000 remaining American troops from Niger.

 

The history of US military involvement in West Africa dates back to the Cold War era when the US established bases and provided military aid to counter Soviet influence. In the post-Cold War period, US military engagement focused on counterterrorism, with the establishment of bases in Niger, Mali, and Burkina Faso, spending over $280 million as part of the Trans-Sahara Counterterrorism Partnership (TSCTP).

 

However, these efforts have often been criticized by some African leaders for their limited impact on regional stability. The persistence of terrorist groups and the growing insecurity in the Sahel region have led to increasing frustration among West African nations, prompting them to seek alternative partners.

 

Frustrated by what they called the ‘ineffective US presence in combating terrorism,’ West African nations like Burkina Faso, Mali, and Niger are seeking new partners. Russia’s approach to military alliances often includes substantial economic incentives. In Mali, following the expulsion of French and US forces in 2021, Russia provided military equipment and training through the Wagner Group, reportedly supplying Mali with several hundred military vehicles and other hardware. Similarly, Burkina Faso, which expelled US forces in early 2022, received significant Russian military support, including arms and military advisors.

 

READ ALSO: Insight into ECOWAS Security Council: Stability Advancement

 

A New Era of African Agency

Recent events in Niger highlight a growing trend: African nations asserting their agency in international affairs. This shift is particularly evident in Francophone Africa, where leaders like Abdramane of Niger are expressing greater independence and challenging traditional Western demands, especially from France. A decade ago, such a scene—a courteous but firm reminder that Niger chooses its own partners—would have been unthinkable.

 

This newfound confidence reflects a growing awareness among Africans and a belief that African issues are best addressed by Africans themselves. Furthermore, the alternative financial options provided by BRICS nations (Brazil, Russia, India, China, and South Africa) have given African countries more autonomy and influence over their governance. The days of authoritarian and paternalistic relationships with colonial rulers and Western powers seem to be over.

 

The strategic realignment towards new military and economic partnerships is more than just a shift in alliances; it is a bold statement of African agency and a testament to the growing leadership and self-determination of African elites. This new era promises a more empowered, resilient, and prosperous Africa, capable of charting its own course in the global arena.

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