World
BRICS+ and G20: Competing or Collaborating for Global South
By Kestér Kenn Klomegâh
South Africa’s Cyril Ramaphosa heads G20, an intergovernmental forum comprising 19 sovereign countries, the European Union, and the African Union, while Brazil’s Luiz Inácio Lula da Silva chairs BRICS+, an association made of Brazil, Russia, India, China and South Africa with four new members and 13 partner states in a category mostly from developing countries.
At a quick glance, the G20 and BRICS+ are respectively chaired this year 2025 by South Africa and Brazil, both BRICS+ members, which makes it distinctively important development for the changing geopolitical world. In 2025, G20 and BRICS+ agenda features a pivotal role and pledge to continue making concerted strides, either in keen competition for economic revitalization or in close collaboration as development players, in the Global South.
Historically, G20 was created back in 1999 as a group of twenty of the world’s largest economies to deal primarily with multifaceted aspects of existing global economic, trade, health, climate change and political issues. Dissatisfied with the global dominance of the United States and the stack failure of leaders of developing countries, especially in Africa, to raise their economic status to an appreciable levels and improve standards of living for the largely impoverished population, BRIC appeared in 2009, in city of Yekaterinburg, Russia.
South Africa ascended in 2010, transforming it into BRICS. As popularly now referred to as BRICS+, its key objective aspiration is to support building a better economic architecture for the Global South. In addition, BRICS+, as a non-western association, operates against western hegemony and uni-polar, rules-based system. Its key priority aims at shaping a more equitable and a more balanced global order while collaborating with developing countries in raising their economic status in the Global South.
An insight into G20 and BRICS+ including its “partner states” category shows the huge economic structure, the natural and human resources necessary for the future of mankind. We have observed several discussions, at highest levels these several years, on intensifying whatever political dialogue and exchange of views, economic collaborations and interactions on bilateral and multilateral mechanisms for developing better conditions in the Global South. Bridging the economic and standards of living gap have been on the agenda for both G20 and BRICS+ during previous years.
Every year, the leaders of G20 members meet to discuss mainly economic and financial matters and coordinate policy on some other issues of mutual interest. Every year, BRICS+ members summit features extensive deliberations on the United States global dominance and hegemony, without adequately addressing economic lapses in the developing Global South. Several summit declarations have adopted in that directions, but remain purely as collective declarations.
G20 and BRICS+ agenda in 2025?
As geopolitical situation heightens, G20 and BRICS+ are championing its a fresh version of governance reforms in their ways, and further reviewing the current operations of multilateral institutions such as the United Nations, the World Trade Organization (WTO), International Monetary Fund (IMF)and the World Bank for developing countries in the Global South. Despite these common goals, G20 and BRICS+ still have the main points of discontention. BRICS+ shares, in its declarations, dissatisfaction over over-exploitation of resources in and rules-based approach towards developing world.
In the Ministry of International Relations and Cooperation’s media release in January 2025, titled “The G20 is made up of 13 Engagement Groups”, stated that “South Africa fully supports the approach of strengthening partnerships and expanding dialogue with a wide range of actors; including States, international organizations and civil society; to collectively shape the G20’s approach to issues requiring international cooperation.” (South Africa’s chairmanship of G20, Jan. 2025)
It further recognizes the significant strides made by the Brazilian G20 presidency (2024) in enhancing the G20 as a site of democratic global engagement. The South African presidency will continue this trajectory. In South Africa’s G20 presidency, further modalities will be developed to involve a wide range of stakeholders throughout the year, particularly on priority initiatives. Until the G20 Leaders’ Summit in November 2025, South Africa is expected to bring together representatives of the existing engagement groups and other segments of civil society that may offer meaningful contributions to the G20.
For the BRICS+ agenda, focus is placed on the need to reform the current international financial architecture to meet the global financial challenges. As already explained, the measures are to facilitate the development of the economy, international trade, and the achievement of the sustainable development goals.
In addition to the financial architecture, BRICS+ has agreed to discuss and study the feasibility of establishment of an independent cross-border settlement and depositary infrastructure, an initiative to complement the existing financial market infrastructure, as well as independent reinsurance capacity and the possibility of expanding innovative financial practices and approaches for projects and programmes, including finding acceptable mechanisms of financing in local currencies.
BRICS+ has reaffirmed its commitment to maintaining a strong and effective Global Financial Safety Net with a quota-based and adequately resourced IMF at its centre. On G20, BRICS+ recognized the importance of the continued and productive functioning of the G20, based on consensus with a focus on result-oriented outcomes. In other words, both would play complimentary role in the global economy, and appreciating efforts with a focus on development trends in the Global South.
South Africa Driving Development Goals
In accepting G20 chairmanship early December in Cape Town, South Africa explicitly indicated a number of practical ways forward in consolidating G20 on the world stage as it strives to gain additional significant momentum in 2025.
South Africa, however, insisted that G20’s relations have to be compatible with development gaols of the Global South. The main argument here is that the G20 comprises many of the world’s largest developing and developed economies. Therefore, G20 has to play a critical role in influencing policies and foster economic stability to have a direct impact on the lives of all members of the global community.
It has a wide agenda that now includes trade sustainable development, health, agriculture, energy, the environment, climate change and anti-corruption. These agenda initiatives are not only to drive economic progress but also to accelerate and support long-term investment opportunities across the continents especially in Africa.
The outlook for global economic growth remains unpredictable, and many economies carry the burden of unsustainable levels of debt. Geopolitical instability, conflict and war are causing further hardship and suffering. Across the world, billions of people are affected by under-development, inequality, poverty, hunger and unemployment.
Strengthening Economic Partnership
Working together with G20 members and building partnerships across society is one the surest pathways to confront the development challenges. Exploring the development pathways, without any geopolitical discrimination but with caution, to achieve more rapid, inclusive and economic growth for future generations.
The G20 provides us with a platform to pursue these collective goals. South Africa has adopted the theme ‘Solidarity, Equality and Sustainability’ for its G20 Presidency. Through solidarity, we can create an inclusive future that advances the interests of people at the greatest risk of being left behind.
Under South Africa’s leadership, the G20 leaders have to work seriously with African Union and European Union, through this year, until its final summit which will take place in Johannesburg in November 2025. South Africa’s presidency, for the first time an African country has presided over the G20, in line with above-mentioned theme, there is the necessity to strengthen and advance consistent efforts to achieve the Sustainable Development Goals by 2030.
Africa’s Noticeable Challenges
Until today, Africa faces multitude of challenges. The continent, comprising 55 States, was declared as politically independent in 1963 and yet is confronted with challenges of an excellent model of governance and exemplary leadership. Basic tenets of transfers as stipulated within framework of constitutions are usually marked by conflicts, opposition groups are frequently banned from operating in the country.
This is further simply compounded by economic under-development which impact heavily on living standards of majority of the population across the Africa. Despite huge untapped natural resources, tackling the economy requires finances which many African countries lack primarily due to inability to design national priority actions. Urban-rural development disparities have taken its characteristic shape in many geographic parts of Africa.
The local African, multilateral financial institutions, development banks and the private sector need to scale up, with a fairer and appropriate lending conditions to ensure debt sustainability for low-income countries.
In fact, Africa still needs more investment in infrastructure, healthcare, education and finance for sustaining many other development needs, and as well as to consider extending debt relief to developing economies. These are challenges for G20 and BRICS+ to champion their critical positions as engines for growth and development in Africa, and Global South.
In 2025, there is unshakeable (amplified) hope that both South Africa’s G20 directorship and Brazil’s BRICS+ chairmanship, focus would be on pursuing remarkable progress on cross-cutting development issues throughout Africa and across Global South.
Logical Expectations
In this fast-changing landscape characterized by forging new alliances, the practical implementation of the Russia’s initiatives, against the backdrop of escalated tensions, fostering cooperation not confrontation, will rather help effectively in addressing challenges. One more significant point is that there may be important linkages emerging between BRICS+ and G20. Undoubtedly, Brazil in 2025 is likely to base its priorities on some of the themes that were pursued in 2024 during its chairmanship in G20.
BRICS and G20, critical over global political developments and economic growth, but both could complement efforts as partners in tackling existing challenges, coordinate approaches and strategies. Particularly, Africa, as part of the developing Global South, has increasingly become the subject of deliberations at high-level summits and conferences, noting that more 60% of its population still wallow in abject poverty.
Understanding the puzzling paradox that Africa has huge untapped natural resources and adequate human capital to engage in development. Often asked rhetorical question why ‘the Asian tigers’ developed while ‘the African lions’ declined these past several years. South Africa, as the current G20 president, has to set the platform this 2025 for practical dialogue at G20, which includes BRICS members, to adopt collective towards Africa’s development goals including those in energy, industrialization, infrastructure and agriculture.
Logical Conclusion
As we mark the end of this first quarter century in 2025, it behoves on individual leaders, states and their stakeholders to act rather than engage in persistent criticisms and trading geopolitical rhetoric. On one hand, BRICS+ bloc is rapidly evolving as an alternative platform for global cooperation. For substantive continuity, BRICS+ apparently has to ensure that the initiatives raised during Russia’s presidency, and previous summits, members and the “partner states” maintain unwavering commitment towards their realization.
But on the other hand, G20 has to readjust and adapt its collective approach towards diverse perspectives, reform its models of operations to compliment and support development initiatives of the Global South. While appreciating in the final summary that G20 and BRICS+ platforms are created for driving global development and expected optimal economic growth, and further to engage in tackling challenges in order to register visible impact, it is highly necessary to emphasize the importance of trust and collaboration.
Moreover, the geopolitical implications are already known. But this, as a whole, becomes ultimately the greatest interest in their current deliberations. It is really a defining moment for Africa, and in general, for the Global South. Both G20 and BRICS+ have to subsequently demonstrate strategic steps in actualizing the aspirations as we move forward into the future.
By Kestér Kenn Klomegâh
In an interview (Q&A) in mid-August 2025, Ms Tandiwe Thelma Mgxwati, Minister Plenipotentiary and Charge d’Affaires a.i. at the South African Embassy, discussed South Africa’s presidency of G20 and its influence on Africa, in the context of geopolitical changes. Tandiwe Mgxwati further underlined the African Union’s full membership in the G20 as an important organisational instrument through which to seriously seek G20’s support for infrastructure development, digital transformation, industrialisation, and innovation ecosystems—key elements of both Agenda 2063 and national development plans. Here are the interview excerpts:
What is the significance of South Africa’s presidency of the G20 in 2025?
South Africa’s presidency of the G20 in 2025 is of profound historical and geopolitical significance. It marks the first time an African country leads the G20 at Summit level since its inception in 1999, and it coincides with the African Union’s recent inclusion as a permanent G20 member in 2023. The South African presidency symbolises a growing recognition of Africa’s role in the global economy and affirms the need for more inclusive and representative international governance frameworks. For South Africa, the presidency is a platform to assert the voice of the Global South and demonstrate leadership in shaping multilateral responses to shared challenges including inequality, climate change, debt, and technology governance.
In institutional terms, South Africa’s presidency strengthens Africa’s ability to influence G20 policy outcomes and reform debates, particularly regarding the international financial architecture. It also consolidates South Africa’s profile as a credible bridge-builder between developed and developing economies. With the G20 Johannesburg Summit scheduled for 22-23 November 2025, this presidency presents an opportunity for Africa to shape global discussions on sustainable development and resilience in a time of polycrisis, while promoting solidarity between emerging economies and major powers. For the very same reasons, we are taking our G20 presidency to the African continent in three separate events planned for Egypt (on Food Security), Ethiopia (on the Compact with Africa) and Nigeria (on Industrialisation and Agriculture) later this year.
How does South Africa plan to push its own and that of Africa’s development ambitions within the context of the G20?
South Africa has defined the overarching theme of its presidency as “Solidarity, Equality, Sustainability”, capturing the urgent need to address historical development imbalances, promote inclusive growth, and respond to existential threats such as climate change. The country has identified three core Task Forces in the following fields : (1) Inclusive economic growth, industrialisation, and employment creation; (2) Food security (a critical issue for Africa); and (3) The governance and application of artificial intelligence and innovation for sustainable development. These priorities are fully aligned with the African Union’s Agenda 2063 and the United Nations Sustainable Development Goals.
To ensure alignment with African development objectives, South Africa has established a structured engagement process with the African Union Commission and African institutions such as the African Development Bank. The G20 Africa Advisory Group, revitalised under South African leadership, serves as a platform for advancing African priorities within the G20 Sherpa Track. Furthermore, South Africa is promoting coordination with BRICS partners, G77 members, and regional economic communities of Africa to build a unified voice on key issues including debt restructuring, concessional finance, and technology transfer. The African Continental Free Trade Area (AfCFTA) is also being mainstreamed into G20 trade and investment discussions under South Africa’s chairmanship.
In the Finance track, we have also established a team to work on the Review of the Cost of Capital – a very important issue that needs special attention due to the heavy load carried by so many African countries when it comes to debt and the cost of serving it.
What are your assessment on the questions relating to G20 members boosting economic partnership with Africa?
There is growing recognition within the G20 that Africa must be seen as a partner for mutual prosperity rather than a passive recipient of aid. South Africa strongly supports the evolution of G20–Africa economic relations toward long-term, transformative partnerships that deliver industrial capacity, human capital development, and infrastructure integration. South Africa advocates for increased investment in regional value chains, climate-resilient agriculture, and sustainable energy systems, while pushing for fairer access to capital for African economies through multilateral development banks and reformed global rating systems.
In its role as G20 president, South Africa is actively encouraging G20 members to deepen their engagement with Africa by focusing on co-investment models, risk-sharing mechanisms, and blended finance arrangements that crowd in private capital. Africa’s demographic dividend and natural resource base present long-term opportunities for strategic economic partnerships. The Compact with Africa (CwA) initiative, launched under Germany’s G20 presidency in 2017, is being reviewed and revitalised under South African leadership to ensure it better aligns with African-led priorities and supports AfCFTA implementation. In this regard, we aim to further boost the CwA when we host a G20 event in Addis Ababa during the first week of September to focus exclusively on boosting the CwA work and membership of African countries in the Compact.
Do you think there is the possibility of tackling Africa’s challenges under South Africa’s G20 presidency?
Yes, some of the answers above already address this question. South Africa’s presidency is expressly designed to address structural challenges faced by African countries and other developing nations. These include limited access to affordable long-term finance, vulnerability to climate and disaster shocks, constrained industrial development, and exclusion from global technology governance. Through both the Sherpa and Finance Tracks, South Africa is placing these issues at the centre of G20 deliberations and calling for stronger coordination with the United Nations, World Bank, International Monetary Fund, and regional institutions.
Specifically, the South African presidency is pushing for tangible G20 outcomes in areas such as debt relief for low-income countries, increased concessional climate finance, and support for developing countries in leveraging critical minerals for sustainable growth. The inclusion of digital public infrastructure and AI governance in the G20 agenda is another innovation, allowing for African perspectives on ethical technology development to be reflected. These efforts are being anchored through a G20-Africa Action Plan that sets clear deliverables and timelines.
What are Africa’s expectations from G20 members?
Africa’s expectations are based on principles of fairness, equity, and mutual interest. African countries expect G20 members to support reform of the international financial architecture, particularly around voting rights in Bretton Woods institutions, sovereign debt restructuring, and access to concessional finance. In addition, Africa seeks increased support for infrastructure development, digital transformation, industrialisation, and innovation ecosystems—key elements of both Agenda 2063 and national development plans.
There is also a strong expectation that G20 members will enhance investment in Africa’s energy transition, including natural gas as a transitional fuel, and provide resources for climate adaptation and resilience. The continent expects partnerships that create jobs, enable local value addition, and facilitate integration into global supply chains. Africa’s voice in setting international rules—whether in trade, AI, climate, or finance—must be amplified, and the African Union’s full membership in the G20 must now translate into institutional reforms that deliver concrete results.
Do you think the changing South Africa–United States diplomacy will influence these expectations?
South Africa’s foreign policy remains grounded in constitutional values, respect for sovereignty, multilateralism, and a commitment to global equity. While the current United States administration under President Donald Trump has adopted a more protectionist stance—including the imposition of 30% tariffs on selected South African exports—South Africa continues to engage constructively with all G20 partners, including the United States, through diplomatic, trade, and multilateral channels. The participation of the USA in our G20 calendar of events remain important to us as we believe that the entire G20 family should take ownership of the work and outcomes of our presidency, in addition, the USA will take over the G20 presidency from us and hence we need to have them onboard.
The South African government has taken note of the Trump administration’s critical rhetoric toward South Africa, particularly on domestic policies related to land reform, BRICS cooperation, and its posture on global geopolitical issues. However, these differences do not alter the continent’s structural development needs or the core agenda South Africa is advancing through the G20 and other formations such as BRICS and IBSA. Africa’s expectations—such as fairer trade rules, access to concessional finance, value addition in the supply chain processes, climate adaptation support, and inclusive technology governance—are long-standing and are shaped by collective African positions, not bilateral tensions. As G20 president, South Africa is committed to building consensus across ideological divides and ensuring that global economic governance delivers balanced outcomes, even amidst evolving bilateral dynamics. We believe that in this challenging geo-political climate, South Africa is the best country to lead the G20 group at this stage, our experience in shaping an inclusive democratic society in the early 1990’s is now serving us well.
By Adedapo Adesanya
Nigeria will bear a 15 per cent tariff as President Donald Trump looks to enforce tariffs on countries trading with the United States.
President Trump has set a baseline tariff of 10 per cent on all imports to the United States, as well as additional duties on certain products or countries.
The American President says tariffs will encourage US consumers to buy more American-made goods, increase the amount of tax raised and boost investment.
So, Nigerian companies that bring goods into the US have to pay the tax to the government.
However, they may pass some or all of the extra cost on to customers.
Countries and Tariffs
Here is a list of targeted tariffs he has implemented or threatened to put in place.
Afghanistan – 15 per cent
Algeria – 30 per cent
Angola – 15 per cent
Bangladesh – 20 per cent
Bolivia – 15 per cent
Bosnia and Herzegovina – 30 per cent
Botswana – 15 per cent
Brazil – 50 per cent, with lower levels for sectors such as aircraft, energy and orange juice
Brunei – 25 per cent
Cambodia – 19 per cent
Cameroon – 15 per cent
Canada – 10 per cent on energy products, 35 per cent for other products not covered by the US-Canada-Mexico Agreement
Chad – 15 per cent
China – 30 per cent, with additional tariffs on some products. This agreement, which was due to expire on August 12, has been extended for another 90 days through an executive order, according to a White House official.
Costa Rica – 15 per cent
Cote d’Ivoire – 15 per cent
Democratic Republic of the Congo – 15 per cent
Ecuador – 15 per cent
Equatorial Guinea – 15 per cent
European Union – 15 per cent on most goods
Falkland Islands – 10 per cent
Fiji – 15 per cent
Ghana – 15 per cent
Guyana – 15 per cent
Iceland – 15 per cent
India – 25 per cent, additional 25 per cent threatened to take effect August 28
Indonesia – 19 per cent
Iraq – 35 per cent
Israel – 15 per cent
Japan – 15 per cent
Jordan – 15 per cent
Kazakhstan – 25 per cent
Laos – 40 per cent
Lesotho – 15 per cent
Libya – 30 per cent
Liechtenstein – 15 per cent
Madagascar – 15 per cent
Malawi – 15 per cent
Malaysia – 19 per cent
Mauritius – 15 per cent
Mexico – 25 per cent for products not covered by USMCA
Moldova – 25 per cent
Mozambique – 15 per cent
Myanmar – 40 per cent
Namibia – 15 per cent
Nauru – 15 per cent
New Zealand – 15 per cent
Nicaragua – 18 per cent
Nigeria – 15 per cent
North Macedonia – 15 per cent
Norway – 15 per cent
Pakistan – 19 per cent
Papua New Guinea – 15 per cent
Philippines – 19 per cent
Serbia – 35 per cent
South Africa – 30 per cent
South Korea – 15 per cent
Sri Lanka – 20 per cent
Switzerland – 39 per cent
Syria – 41 per cent
Taiwan – 20 per cent
Thailand – 19 per cent
Trinidad and Tobago – 15 per cent
Tunisia – 25 per cent
Turkey – 15 per cent
Uganda – 15 per cent
United Kingdom – 10 per cent, with some auto and metal imports exempt from higher global rates.
By Adedapo Adesanya
The Director-General (DG) of Nigeria’s Securities and Exchange Commission (SEC), Mr Emomotimi Agama, says Africa and the Middle East must tap into opportunities in digital assets, which will be worth $10 trillion by 2030.
The SEC DG said this in his acceptance speech after he was elected the Vice Chairman of the Africa/Middle East Regional Committee (AMERC) of the International Organisation of Securities Commissions (IOSCO).
According to a statement, with young and tech-savvy populations, Africa and the Middle East must lead and not follow in digital assets.
He said his mandate as the Vice Chairman was to transform the capital markets into engines of inclusive growth, innovation, and shared prosperity for Africa and the Middle East.
”We must aggressively expand listings by working with African Financial Markets Initiative (AFMI) and SSA exchanges to harmonise standards, reduce listing costs, and create cross-border linkages.
”To boost liquidity, we will pioneer regional market-making schemes and advocate for pension fund reforms to channel domestic savings into productive investments.
“Critically, we will partner with AFMI and development institutions to de-risk infrastructure investments and attract global capital.
”However, infrastructure alone is not enough. With 70 per cent of Africa’s population under 30, we must empower youth through: Retail investor programmes to democratise market participation, Fintech sandboxes to nurture youth-led innovation and Listings of high-growth startups to create wealth and jobs,” he said.
Mr Agama said there was still a lot of work to be done despite the progress made by IOSCO, calling on members to continue to render the mutual support and cooperation of past years for the benefit of investors, markets and indeed the world economy.
He noted that the committee would continue to deepen discussions and debates to launch a “Listings Growth Initiative” for Small and Medium Enterprises.
Mr Agama will serve on the Board of IOSCO, the highest decision making organ of the global securities regulatory organisation, till 2026.
IOSCO was established in 1983 as the standard setter for the securities industry worldwide and currently has over one hundred ordinary members. It is recognised as the leading international policy forum for securities regulators. The organisation’s membership regulates more than 95 per cent of the world’s securities markets in over 100 jurisdictions.
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