World
The Moment of Truth for BRICS: Challenges, Opportunities and the Way Forward
By Kester Kenn Klomegah
As already known, BRICS is an association of five major emerging economies: Brazil, Russia, India, China and South Africa. South Africa joined the association in 2010.
The BRICS has a significant influence on regional affairs and very active on the global stage. All of them are members of the G20.
While the group has received both praise and criticism from different corners of the world, BRICS is steadily working towards realizing its set goals, bilateral relations among them are conducted on the basis of non-interference, equality and mutual benefits.
In this exclusive interview, Dr Byelongo Elisee Isheloke, who is currently a Postdoctoral Research Fellow at the University of Cape Town and has scholarly researched some aspects of BRICS for the past 10 years, spoke with Kester Kenn Klomegah about his observations, the existing challenges, opportunities and the future perspectives of BRICS. Here are the interview excerpts;
South Africa joined BRICS in 2010, a decade ago, and so, how do you assess South Africa in BRICS these years? What are its greatest contributions to the development of the group?
I would say South Africa is strongly committed to its engagement in the BRICS. It has hosted two of its summits. As an active member, it has what it takes to deliver despite the internal economic crises in South Africa. I think over the years, South Africa grew in confidence within the partnership, particularly when the first BRICS summit took place in Durban South Africa.
In the Durban 2013 BRICS summit, African presidents were invited to join leaders of BRICS and the theme evolved around Africa. In this context, South Africa regained its muscles as a BRICS member.
South Africa, therefore, represents Africa well in the BRICS, in a way, and I think the African countries should support it. The only thing I think people want is to be more involved. While the BRICS started as a partnership of political nature, now that it has embraced economic development, the voice of the people must be heard.
The major problem of South Africa is that it is not robust economically compared to its BRICS counterparts, and its economy has been performing badly since the 2008/2009 world’s economic crisis.
It has been a zero growth economy ever since; if any growth, then it has been below 1 per cent. South Africa has struggled to stabilize its economy during the past few years, and now the COVID-19 has exacerbated this but it is common to many countries around the world.
In your previous discussion, you talk about a transition from politics to economy. How do you see BRICS influence on international issues, its collective position on the global arena?
BRICS did not transit from politics to economy as such but put emphasis on economic projects. BRICS leaders still talk global politics while experts guide the leaders on foreign policy issues. For me, I think it is a very good approach going forward. BRICS must deliver on capital-intensive infrastructure development, and the funding from the New Development Bank (BRICS) is critical in this regard. With good policies in place, this will help the SADC region and the rest of Africa. It is great that the branch of this bank operates from Johannesburg in South Africa.
Furthermore, I must say that BRICS influence on international scale is dented by minor problems in the organization. For example, the diplomatic conflict between India and China, the fact that both Russia and China wants to be in a position of favour with the United States on diplomatic ground, this is not helping its influence globally.
“I think BRICS must clean its home, or clean before its door, if it wants to be the balancing power in international affairs. The other problem is the capital issue. At the moment, the BRICS do not have the muscles to outcompete the Bretton Wood Institutions, the World Bank and IMF. More investment, more capital is needed in the BRICS Bank.
In the past, there was the lack of synergy in diplomatic position as far as the BRICS is concerned. In the UN Security Council, for instance, the BRICS have to consult in order to accommodate views on issues of global importance.
We know that South Africa is a member of the SADC and there is the Democratic Republic of Congo (DRC), another SADC country, which has a plethora of problems of security and economic nature. I think that any assistance from such an organization (BRICS) would be appreciated.
Quite recently, more than 200 civilians known as the Bembe people were massacred in the eastern DRC by Ngumino and Twagineho militias. These militias are of foreign origin to the DRC. This news is not broadcasted in South Africa, if the BRICS could invest more in peace-keeping mission, maybe help the current government, perhaps it could help the failing Monusco, a UN mission in the DRC.
It is such engagement that can make the BRICS shine internationally. They need a collective position on global issues. This is just one example.
In relation to economy and trade, what are your arguments about collaboration among BRICS? Do you also see China and India racing for global dominance, and Russia steadily raising its business profile on global stage?
With regard to this question, this is what I have to say. In fact, trade protectionism is only good temporarily and it works only in the short run. It is not sustainable as a policy in the long term. We know in the 17th century it was promoted in European countries but there was a time when the Laissez-faire ideology took precedence on economic isolationism. We also know that a couple of BRICS countries have a communist background (Russia and China). What I can say is that China opened up its economy to trade, and for more than 30 years, it manage to build a robust economy (now considered the 2nd largest after the United States) with potential prospects of outperforming the United States. I think we can learn from the Chinese economic success.
The COVID-19 situation may help change the forecasts but free trade has proven over the years to be highly supportive to the economy of nations. This does not mean one needs “to throw away the baby with the water” when it comes to the gain obtained during the socialist approach to economic development.
The BRICS countries should find a way of striking a balance between the two economic systems. But frankly speaking, an open economy leaning more towards free trade is what I would recommend for an emerging economy.
Now, even countries where the economy is freer like South Africa and India, we see that the major hindrance is corruption and bad governance in certain instances. If the BRICS can address these obstacles or hurdles, they will have a better chance of winning.
In China, human rights abuses shouldn’t be covered up; doing-Business with countries where dictatorship and abuses are evident should it be alright.
In addition, there will be areas where BRICS will compete, and this is healthy to any economy, but there must be more focus on what BRICS can do together to address abject poverty, growing unemployment and human rights abuses.
China and India need to talk more to address their differences. The future of BRICS depends, to some considerable extent, on their good relations. The race for dominance if military is dangerous. I think they need to talk as friends and partners. The rest of the BRICS should mediate in this regard.
Many experts still question the role of BRICS members in Africa. It is important here to recall that Russia was involved in helping African countries during their struggle for independence and that was the Cold War. It lost its influence after the split of the USSR. Currently Russia’s foreign policy largely seeks to regain what it lost to the United States and China and other foreign players in Africa. But for our Russian partners, Africa needs sustainable development, and not military weapons and equipment. Africa is looking for foreign players to invest in infrastructure and play large part economically.
In your post-doctoral research on BRICS, and in your article to The Conversation, you mentioned what South Africa can offer or shared with other members. Is it possible to restate explicitly the kind of “beneficiation” here?
I would make known, first, that as a postdoctoral research fellow at the University of Cape Town, my academic investigation deals with the impact of and the challenges towards mineral beneficiation policy interventions in the SADC region. This has some importance for foreign players looking opportunities to invest in mineral resources in the SADC.
Having said the above, I am more than prepared to embark on a project that will help BRICS to understand the effects of BRICS partnership on mineral beneficiation in South Africa and within the Southern African Development Community.
In this connection, I think South Africa has a lot to offer to the BRICS. There must also be a consensus with other African countries. Understandably, South Africa can be an investment gateway to Africa. As the presiding head of the African Union, South Africa represents the interests of the AU in BRICS.
On beneficiation, South Africa has a tremendous experience on nuclear power that, if used for energy, could help the beneficiation industry in the country. One needs to be cautious of deviations in that regard, not that I am suggesting South Africa would deviate, but care needs to be observed by all member countries on that issue. As a pacifist, I would advise that African countries look at alternative, renewable energy sources. A gradual approach to beneficiation and a dialogue between trade partners will take the BRICS partnership to another level as far as South Africa is concerned in the BRICS.
How do you assess the current coronavirus spread and its impact, especially among BRICS, (Brazil, India, Russia and South Africa) and allegedly (yet to be proved) virus originated from China (BRICS member)?
The BRICS are hit by the COVID-19 crisis just like any other country. As we know, the COVID-19 started in Wuhan, China, and then spread in no time to all the continents. It is however important to note that China closed its borders and cooperated with the World Health Organization (WHO) to alert other countries. On the other hand, in Africa, we saw China helping the African Union (AU) with PPEs and other test equipment. This should be appreciated.
Whether the alert came late or not, I do not have any means to determine that. Why would China want to do that? Instead of pointing fingers to others, I think it is time the world learns from the threat we face together as humans and find a common ground to halt (stop) the spread of COVID-19. It should be an opportunity to re-engineer our health facilities and capabilities for a better tomorrow for all.
Personally, I would call for cooperation between BRICS and non-BRICS countries (the United States and Europe for example to get involved). Failing to do that will be a recipe for more complications.
What do you think of BRICS collaborating on COVID-19 vaccine? Do you see “cooperation or competition” among its members (China, India and Russia) racing for global market with the vaccine?
Interestingly, I see both cooperation and competition. But I think we need more cooperation and sharing of the information. The BRICS must remember what they owe the world. Cooperation should be on all aspects of life. We hear stories of people of colour being ill-treated in China for example. I think the authorities should investigate that and take appropriate actions to care for others with dignity.
In South Africa as well, the refugee community was almost neglected in the management of the COVID-19. I am glad the government decided to do something about it. BRICS scientists, as well, need collaboration to come up successfully with a solution or vaccine.
Efforts by other scientists need to be taken into account. And as regards Africa, an African solution to Africa’s problem approach should not be neglected or relegated to the backyard. BRICS are partners, they can help each other but they should not replace own efforts towards security and safety.
Vaccine or solutions to the pandemic should not be profit-orientated. In Africa, we believe in Ubuntu. I think our BRICS leaders will not do such a mistake. I am highly optimistic on that.
Generally, what would you consider as the key challenges amid the coronavirus pandemic that has shattered the economy, and how do you see the future of BRICS?
The pandemic has, indeed taken a heavy toll on the global economy. As reported by the World Health Organization (WHO), Brazil, India, Russia, China, and of course, South Africa have high infections after the United States.
The key challenges during the COVID-19 era are: Unpreparedness of the BRICS countries. It came as a surprise and BRICS were caught pants down in most instances. We should view the COVID-19 as an opportunity for better planning, re-engineering of our health facilities and capabilities for prevention.
Lack of financial resources. The poor countries in a dire situation. Most countries had no financial muscles to acquire respirators and PPEs. Russia and China managed to build specialized hospitals within a short time to contain the situation. This is an area where the BRICS Development Bank could make the stark difference if steered in the right direction.
Insufficient coordination. As for the case of South Africa, it is good that the government took the scientific approach in managing the situation. Coordination with public-private partnership could enhance the ability of the state apparatus to serve everybody regardless of their origin. There is still time to ensure that poor including refugees and asylum seekers are humanly served. We cannot be selective in enforcing human rights. Medical assistance, in time of coronavirus, be regarded as basic human right for all. A better coordination will therefore help not only South Africa, but all the countries.
Last but not the least, a holistic approach to fighting the pandemic should be promoted. A human being is not just a body, but it is also a spirit. While scientists and decision makers propose solutions, it must be done in conjunction with means that uplift the spirit as well.
Faith based organizations should equally have a role to play to help the government and to provide interventions of psychological and spiritual nature. A healthy body in a healthy spirit is what we need.
Otherwise, any solution will be half-baked and unsustainable. All the stakeholders must work together. This is not only for South Africa or for the BRICS, but it is also for the entire world.
There is a lot of negative news on TV and Radio channels about the corona. It is time the media grasps the opportunity to serve humanity by focusing on giving hope rather than destroying hope. A balance needs to be set in this regard as well. Media have to exhibit a more constructive role for a better world.
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.
World
Afreximbank Warns African Governments On Deep Split in Global Commodities
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.
World
Aduna, Comviva to Accelerate Network APIs Monetization
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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