World
No Plans to Expand BRICS Membership—Putin
**As Leaders Applaud Performance
By Kester Kenn Klomegah
Leaders of BRICS (Brazil, Russia, India, China, Russia, India and South Africa) have expressed full-fledged satisfaction of the Group’s performance using its current format that includes the Big Five, BRICS Plus and Outreach, and consequently have no plans to increase its numerical strength in the near future.
Russian leader, Mr Vladimir Putin, made the Group’s position known during his final media conference held at the 2018 BRICS summit in Johannesburg, South Africa.
He highlighted that “BRICS is an organic association of countries that have many things in common: they have many shared interests and common approaches to addressing challenges that are relevant to all of humanity, including Russia. This is one of its key advantages, and today, many countries are showing an interest in BRICS.”
“Concerning the group’s expansion, BRICS Plus and Outreach format have already been created to this effect. For now, we agreed to rely on these formats for expanding our reach and drawing into our orbit countries that share the underlying principles and values of BRICS,” the President said.
While many viewed the existing formats of interaction effective, Mr Putin explained that any questions regarding BRICS enlargement in future would definitely need additional thorough discussions and final consideration.
“But so far, we have no plans to expand BRICS membership, since the existing formats have proven effective. As for discussions of issues we intend to address, these are issues relevant for a vast majority of countries and economies around the world. The sky is the limit for us,” the Russian leader explained.
“They are willing to cooperate with other countries and do not rule out BRICS expansion in the future but they believe that it requires additional analysis. This does not mean that the organization is closed, that its doors are closed. No, it is just that this issue should be properly analysed. Otherwise, the organization is open to anyone,” Putin stressed at the media conference.
Historically, the first meeting of the Group began in St Petersburg in 2005. It was called RIC, which stood for Russia, India and China. Brazil and subsequently South Africa joined later, which is why now it is referred to as BRICS.
Initially, the goals and tasks were very modest, primarily focus on the economy and the coordination of efforts toward attaining more ambitious goals. As more members joined the Group, it developed into a full-scale organisation with new spheres of activity and broader common interests, according to Mr Putin.
Experts have expressed different views in interviews with me.
Nandan Unnikrishnan, Research Fellow at the Observer Research Foundation, India: There is nothing wrong in trying to expand the BRICS if the new countries meet the criteria of what BRICS represents, their entry adds to the cohesion of the grouping.
However, it appears that at this stage of the evolution of BRICS the need of the hour is not expansion, but consolidation, given developments in the world as well as in each of the BRICS countries.
Secondly, BRICS is quite clear about the Africa’s developmental needs. The question is how to mobilise the necessary resources to propel Africa’s development over and above their bilateral commitments to African countries.
All the BRICS countries are facing economic challenges that they need to address urgently. But in the long run, BRICS is keenly aware of the importance of contributing towards Africa’s development agenda.
Charles Robertson, Chief Economist at Renaissance Capital, argued thus: The BRICS was just a concept from Goldman with little intellectual coherence beyond the fact that 1) all four of the original BRIC countries had a-historically low GDP and were likely to rebound in size, 2) they were populous, 3) there were among them two commodity importers and two commodity exporters among them. South Africa was a late minor addition to the group, to add a “bridgehead to Africa” angle.
“So, it could expand because the BRICS are under-represented in the global financial architecture. Europe and the US dominate institutions like the IMF and the World Bank, and to some extent many others,” in his opinion.
According to him, “Russia and others in the BRICS would like to see larger power centres emerge to offer an alternative to that Western dominated construct. That is reasonable enough – providing there are countries with the money to backstop the new institutions, such as China supporting the BRICS bank, and if the countries offer an alternative vision that provides benefits to new members.”
Robertson, however, questioned whether “a broader BRICS + body would offer tariff-free access to their markets as the EU and the US can? I doubt that. Can they offer financing via a BRICS bank. Perhaps!”
“Now, is a very good time to show that BRICS members and relations between them are an alternative to the format existing in the West,” Executive Director of the Russian National Committee for BRICS Research, Professor Georgy Toloraya, told the Kommersant – a Russian daily business newspaper, adding that “BRICS favors order, compliance with agreements and development.”
Plans are in store to expand the Group, so the leaders of Argentina, Turkey, Indonesia and some African countries invited to the summit.
According to Toloraya, India is currently opposed to expanding BRICS fearing that new members will support China. On the other hand, Moscow argues that “the entrance ticket” to the group is independence and sovereignty, and under no circumstance, potential candidates be called China’s satellites.
There are not so many countries like that – they would include Indonesia, Mexico, Turkey, Egypt and Iran… But then, there are certain political requirements for new members – including recognition of BRICS values and core foreign policy principles, he said.
The BRICS member countries (Brazil, Russia, India, China and South Africa) collectively represent about 26 percent of the world’s geographic area and are home to 2.88 billion people, about 42 percent of the world’s population.
Kester Kenn Klomegah frequently writes about Russia, Africa and BRICS.
World
Russian-Nigerian Economic Diplomacy: Ajeokuta Symbolises Russia’s Remarkable Achievement in Nigeria
By Kestér Kenn Klomegâh
Over the past two decades, Russia’s economic influence in Africa—and specifically in Nigeria—has been limited, largely due to a lack of structured financial support from Russian policy banks and state-backed investment mechanisms. While Russian companies have demonstrated readiness to invest and compete with global players, they consistently cite insufficient government financial guarantees as a key constraint.
Unlike China, India, Japan, and the United States—which have provided billions in concessionary loans and credit lines to support African infrastructure, agriculture, manufacturing, and SMEs—Russia has struggled to translate diplomatic goodwill into substantial economic projects. For example, Nigeria’s trade with Russia accounts for barely 1% of total trade volume, while China and the U.S. dominate at over 15% and 10% respectively in the last decade. This disparity highlights the challenges Russia faces in converting agreements into actionable investment.
Lessons from Nigeria’s Past
The limited impact of Russian economic diplomacy echoes Nigeria’s own history of unfulfilled agreements during former President Olusegun Obasanjo’s administration. Over the past 20 years, ambitious energy, transport, and industrial initiatives signed with foreign partners—including Russia—often stalled or produced minimal results. In many cases, projects were approved in principle, but funding shortfalls, bureaucratic hurdles, and weak follow-through left them unimplemented. Nothing monumental emerged from these agreements, underscoring the importance of financial backing and sustained commitment.
China as a Model
Policy experts point to China’s systematic approach to African investments as a blueprint for Russia. Chinese state policy banks underwrite projects, de-risk investments, and provide finance often secured by African sovereign guarantees. This approach has enabled Chinese companies to execute large-scale infrastructure efficiently, expanding their presence across sectors while simultaneously investing in human capital.
Egyptian Professor Mohamed Chtatou at the International University of Rabat and Mohammed V University in Rabat, Morocco, argues: “Russia could replicate such mechanisms to ensure companies operate with financial backing and risk mitigation, rather than relying solely on bilateral agreements or political connections.”
Russia’s Current Footprint in Africa
Russia’s economic engagement in Africa is heavily tied to natural resources and military equipment. In Zimbabwe, platinum rights and diamond projects were exchanged for fuel or fighter jets. Nearly half of Russian arms exports to Africa are concentrated in countries like Nigeria, Zimbabwe, and Mozambique. Large-scale initiatives, such as the planned $10 billion nuclear plant in Zambia, have stalled due to a lack of Russian financial commitment, despite completed feasibility studies. Similar delays have affected nuclear projects in South Africa, Rwanda, and Egypt.
Federation Council Chairperson Valentina Matviyenko and Senator Igor Morozov have emphasized parliamentary diplomacy and the creation of new financial instruments, such as investment funds under the Russian Export Center, to provide structured support for businesses and enhance trade cooperation. These measures are designed to address historical gaps in financing and ensure that agreements lead to tangible outcomes.
Opportunities and Challenges
Analysts highlight a fundamental challenge: Russia’s limited incentives in Africa. While China invests to secure resources and export markets, Russia lacks comparable commercial drivers. Russian companies possess technological and industrial capabilities, but without sufficient financial support, large-scale projects remain aspirational rather than executable.
The historic Russia-Africa Summits in Sochi and in St. Petersburg explicitly indicate a renewed push to deepen engagement, particularly in the economic sectors. President Vladimir Putin has set a goal to raise Russia-Africa trade from $20 billion to $40 billion over the next few years. However, compared to Asian, European, and American investors, Russia still lags significantly. UNCTAD data shows that the top investors in Africa are the Netherlands, France, the UK, the United States, and China—countries that combine capital support with strategic deployment.
In Nigeria, agreements with Russian firms over energy and industrial projects have yielded little measurable progress. Over 20 years, major deals signed during Obasanjo’s administration and renewed under subsequent governments often stalled at the financing stage. The lesson is clear: political agreements alone are insufficient without structured investment and follow-through.
Strategic Recommendations
For Russia to expand its economic influence in Africa, analysts recommend:
- Structured financial support: Establishing state-backed credit lines, policy bank guarantees, and investment funds to reduce project risks.
- Incentive realignment: Identifying sectors where Russian expertise aligns with African needs, including energy, industrial technology, and infrastructure.
- Sustained implementation: Turning signed agreements into tangible projects with clear timelines and milestones, avoiding the pitfalls of unfulfilled past agreements.
With proper financial backing, Russia can leverage its technological capabilities to diversify beyond arms sales and resource-linked deals, enhancing trade, industrial, and technological cooperation across Africa.
Conclusion
Russia’s Africa strategy remains a work in progress. Nigeria’s experience with decades of agreements that failed to materialize underscores the importance of structured financial commitments and persistent follow-through. Without these, Russia risks remaining a peripheral player (virtual investor) while Arab States such as UAE, China, the United States, and other global powers consolidate their presence.
The potential is evident: Africa is a fast-growing market with vast natural resources, infrastructure needs, and a young, ambitious population. Russia’s challenge—and opportunity—is to match diplomatic efforts with financial strategy, turning political ties into lasting economic influence.
By Adedapo Adesanya
Africa Export-Import Bank (Afreximbank) has urged African governments to lean into structural tailwinds, warning that the global commodity landscape has entered a new phase of deepening split.
In its November 2025 commodity bulletin, the bank noted that markets are no longer moving in unison; instead, some are powered by structural demand while others are weakening under oversupply, shifting consumption patterns and weather-related dynamics.
As a result of this bifurcation, the Cairo-based lender tasked policymakers on the continent to manage supply-chain vulnerabilities and diversify beyond the commodity-export model.
The report highlights that commodities linked to energy transition, infrastructure development and geopolitical realignments are gaining momentum.
For instance, natural gas has risen sharply from 2024 levels, supported by colder-season heating needs, export disruptions around the Red Sea and tightening global supply. Lithium continues to surge on strong demand from electric-vehicle and battery-storage sectors, with growth projections of up to 45 per cent in 2026. Aluminium is approaching multi-year highs amid strong construction and automotive activity and smelter-level power constraints, while soybeans are benefiting from sustained Chinese purchases and adverse weather concerns in South America.
Even crude oil, which accounts for Nigeria’s highest foreign exchange earnings, though still lower year-on-year, is stabilising around $60 per barrel as geopolitical supply risks, including drone attacks on Russian facilities, offset muted global demand.
In contrast, several commodities that recently experienced strong rallies are now softening.
The bank noted that cocoa prices are retreating from record highs as West African crop prospects improve and inventories recover. Palm oil markets face oversupply in Southeast Asia and subdued demand from India and China, pushing stocks to multi-year highs. Sugar is weakening under expectations of a nearly two-million-tonne global surplus for the 2025/26 season, while platinum and silver are seeing headwinds from weaker industrial demand, investor profit-taking and hawkish monetary signals.
For Africa, the bank stresses that the implications are clear. Countries aligned with energy-transition metals and infrastructure-linked commodities stand to benefit from more resilient long-term demand.
It urged those heavily exposed to softening agricultural markets to accelerate a shift into processing, value addition and product diversification.
The bulletin also called for stronger market-intelligence systems, improved intra-African trade connectivity, and investment in logistics and regulatory capacity, noting that Africa’s competitiveness will depend on how quickly governments adapt to the new two-speed global environment.
By Modupe Gbadeyanka
A strategic partnership designed to accelerate worldwide enterprise adoption and monetisation of Network APIs has been entered into between Comviva and the global aggregator of standardised network APIs, Aduna.
The adoption would be done through Comviva’s flagship SaaS-based platform for programmable communications and network intelligence, NGAGE.ai.
The partnership combines Comviva’s NGAGE.ai platform and enterprise onboarding expertise with Aduna’s global operator consortium.
This unified approach provides enterprises with secure, scalable access to network intelligence while enabling telcos to monetise network capabilities efficiently.
The collaboration is further strengthened by Comviva’s proven leadership in the global digital payments and digital lending ecosystem— sectors that will be among the biggest adopters of Network APIs.
The NGAGE.ai platform is already active across 40+ countries, integrated with 100+ operators, and processing over 250 billion transactions annually for more than 7,000 enterprise customers. With its extensive global deployment, NGAGE.ai is positioned as one of the most scalable and trusted platforms for API-led network intelligence adoption.
“As enterprises accelerate their shift toward real-time, intelligence-driven operations, Network APIs will become foundational to digital transformation. With NGAGE.ai and Aduna’s global ecosystem, we are creating a unified and scalable pathway for enterprises to adopt programmable communications at speed and at scale.
“This partnership strengthens our commitment to helping telcos monetise network intelligence while enabling enterprises to build differentiated, secure, and future-ready digital experiences,” the chief executive of Comviva, Mr Rajesh Chandiramani, stated.
Also, the chief executive of Aduna, Mr Anthony Bartolo, noted that, “The next wave of enterprise innovation will be powered by seamless access to network intelligence.
“By integrating Comviva’s NGAGE.ai platform with Aduna’s global federation of operators, we are enabling enterprises to innovate consistently across markets with standardised, high-performance Network APIs.
“This collaboration enhances the value chain for operators and gives enterprises the confidence and agility needed to launch new services, reduce fraud, and deliver more trustworthy customer experiences worldwide.”
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