World
BRICS Role in Development of Polycentric World
By Professor Maurice Okoli
At the Konstantinovsky Palace in St. Petersburg, Russian President Vladimir Putin held his first meeting with Dilma Rousseff, President of the New Development Bank (NDB), established by the BRICS (Brazil, Russia, India, China, and South Africa) in 2015. Rousseff, the first woman to lead the bank, was appointed to head it earlier this year by Brazilian President Luiz Inacio Lula da Silva.
It is a multilateral development bank established with an initial capital of $100 billion. According to the NDB’s stipulated primary functions, it has to cooperate with international organizations and other financial entities and provide technical assistance for projects to be supported by the Bank.
Taking this into account, the main objectives of the NDB can be summarized as follows: promote infrastructure and sustainable development projects with a significant development impact in member countries; establish an extensive network of global partnerships with other multilateral development institutions and national development banks; build a balanced project portfolio giving proper respect to their geographic location, financing requirements and other factors.
The idea for setting up the bank was proposed by India at the 4th BRICS summit in 2012 held in Delhi but was finally created three years later. On 21 December 2016, the NDB signed its first loan agreement. The bank issued loans of up to $40 billion by 2022 in South Africa. Since its creation, it has supported various projects in member countries.
In early March 2022, in response to the Russia-Ukraine conflict, the New Development Bank announced that it had put new transactions with Russia on hold. Russia launched its special military operation on neighbouring Ukraine. The NDB, the multilateral bank set up by the BRICS states, is not considering new projects in Russia as it operates in line with restrictions imposed in financial and capital markets.
Late July bilateral meeting between Putin and the former Brazilian President Rousseff was to discuss BRICS financial questions and emerging geopolitical developments. Russia and Brazil are staunch members; notably, in 2014, Putin and Rousseff stood firmly at the origins of the creation of this financial structure.
In today’s changing conditions, BRICS has been very concerned about de-dollarization and strongly advocating for its currency. Thus, in the discussions on July 26 in St. Petersburg, Putin stressed doubtlessly that Rousseff used her rich experience in public work and knowledge in this area to develop the institution, which is very important in today’s time.
In today’s conditions, this is not easy to do, given what is happening in world finance and the use of the dollar as an instrument of political struggle. But the members of BRICS are not “friends” against someone; they work in each other’s interests. This also applies to the financial sector.
“In general, we are good participants in this organization; we fulfil everything on time, all our obligations to it. We know that there is a question about the liquidity of the bank; there are some ideas that come from you, from your staff, and we will support this,” Putin said at the meeting. “Relations between our countries in the BRICS are developing in national currencies, and settlements are increasing. In this regard, the bank can also play a significant role in the development of joint activities.”
It was not the first time that Dilma Rousseff visited St. Petersburg. She vividly recalled that in 2013 she was part of the G20 summit held in Konstantinovsky Palace. She stressed in comments: “I am very glad to see you again, and we really stood at the origins of the creation of the New Development Bank at the Fortaleza summit in 2014.”
The world is really now going through a period of a number of challenges; there are crisis trends and inflation in the countries of the developed world; in the developing world, countries are facing the problem of debt. And, of course, first of all, the countries of the developing world are now in difficult conditions, according to Rousseff.
Undoubtedly, the Russia-Africa summit is very important for those who are interested in the development of the Global South. Russia is a very important partner within the framework of the BRICS, within the framework of the New Development Bank, and indeed fulfils all of its obligations to them. Indeed, the bank faces a number of problems, and above all, it concerns liquidity.
The Bank should play an important role in the development of a multipolar, polycentric world. We must be determined to raise funds in the markets of partner countries. I also believe that there are no obstacles for the countries of the developing world to carry out their foreign trade operations in national currencies among themselves.
“Our development strategy for the period from 2022 to 2026 assumes that about 30 per cent of the funds should be raised in domestic markets. It is also very important to raise funds in different currencies, not only in dollars or euros,” Rousseff noted, and added, “We are very aware of the difficulties that developing countries face in raising funds. They need resources to finance infrastructure projects, to build digital logistics, social logistics and, of course, also to solve environmental problems.”
Rousseff welcomed the initiative to host the Russia-Africa summit because most of these African countries are often left without the necessary resources. Everyone focuses on the issue of their debt, ignoring the need for resources that are observed there. And it seems unacceptable to impose any conditions and requirements in exchange for funding, as is done now by international multilateral organizations. Most of these questions are on the agenda during the next 15th BRICS summit scheduled for August 22nd – 24th, 2023, at the Sandton Convention Centre in Johannesburg, South Africa.
The issues of expanding the institute by admitting countries of the developing world into it are also a priority. Rousseff added she would also meet South African President Cyril Ramaphosa in Russia, where she expects to discuss the expansion of the bank, which in recent years admitted the United Arab Emirates, Bangladesh and Egypt as members.
Russian Prime Minister Mikhail Mishustin, during a meeting in May 2023, with Rousseff, said that the goal of the BRICS bank was to protect the trade and economic relations of the union from the impact of sanctions from unfriendly countries. From the bank’s activities, Russia expects the strengthening of investment cooperation in the BRICS format, the promotion of promising projects in various fields, and the emergence of new points of growth for the national economies of the five states.
In May 2022, the New Development Bank set up a regional office in India in the state of Gujarat to finance and observe infrastructure projects in both India and Bangladesh. In May 2023, Saudi Arabia expressed its intention to join the NDB. Currently, more than 40 countries have expressed a desire to join the BRICS group. That BRICS has the potential to become a global player is a fact since more countries intend to join the group, and if we look carefully, each of them has significant assets to contribute: some have huge financial potential, others have huge demographic potential, others have expertise in particular industries.
More countries have become interested in joining the group: Afghanistan, Algeria, Argentina, Bahrain, Bangladesh, Belarus, Egypt, Indonesia, Iran, Kazakhstan, Mexico, Nicaragua, Nigeria, Pakistan, Saudi Arabia, Senegal, Sudan, Syria, United Arab Emirates, Thailand, Tunisia, Turkye, Uruguay, Venezuela, Zimbabwe. This growing interest in the BRICS project has various underlying motivations, which have to be accommodated within the broader framework.
Historically, the first meeting of the group began in St Petersburg in 2005. It was called RIC, which stood for Russia, India and China. Then, Brazil and, subsequently, South Africa joined later, which is why it is now referred to as BRICS. The BRICS member countries (Brazil, Russia, India, China and South Africa) collectively represent about 26% of the world’s geographic area and are home to 2.88 billion people, about 42% of the world’s population.
By Professor Maurice Okoli is a fellow at the Institute for African Studies and the Institute of World Economy and International Relations, Russian Academy of Sciences. He is also a fellow at the North-Eastern Federal University of Russia.
World
Online African Women Conference: From Adaptation in Russia to Issues of Health and Spirituality
By Kestér Kenn Klomegâh
Women, generally, are fighting for their own empowerment in society. Gender equality dominates their activities, flexing their feminine muscles for higher positions, with men, in diverse professional aspects, including politics and entrepreneurial spheres of activity.
Such consistent struggle was backed by a collective declaration, worldwide observing March 8 as International Women’s Day. Until today, March 8 commemorates women’s fight for equality and liberation along with the women’s rights movement. In addition, the March 8 celebration focuses on issues such as gender equality, reproductive rights, and violence and abuse against women.
On the eve of March 8, the Cameroonian Diaspora (Diaspocam) and the “African Business Club” together with Russian women’s organisations, held a special online conference under the theme: “How to Succeed as a Woman in Russia”, which brought together over a hundred participants from different regions, including Africa.
The discussion was dedicated to the challenges of adaptation, career prospects, health, and spiritual security of a fast-growing number of young African women living in the Russian Federation. The conference was moderated by Louis Gouend, a specialist in business communications between Russia and Africa, President of the African Business Club, and an expert of the Council of Russia-Africa Cooperation under the State Duma, lower chamber of Russian legislators.
Louis Gouend congratulated the women participants while extending to them good health, wisdom, and new achievements. The main goal of the conference was to create a space of trust and exchange views on the full spectrum of women’s multidisciplinary approach to questions.
On adaptation and legislation: Alina Andrukh, Director of the International Department, spoke on the topic “Global Adaptation of Foreign Citizens in Russia.” She thoroughly examined educational trajectories for women, employment opportunities, and new legislative realities that foreign women need to consider when building a career in the Russian Federation.
The speaker further placed special emphasis on how to avoid getting into trouble, complying with Russian laws, and protecting one’s rights.
Health Without Barriers and Support Centres: One of the most anticipated speeches was given by Ekaterina Glok, a midwife by profession. In her presentation on “The Health of an African Woman in Russia,” she touched upon the delicate topics of reproductive and sexual health. The expert gave practical advice on how to overcome the language barrier and shyness when visiting a gynaecologist, and explained the specifics of the Russian healthcare system for foreign patients.
Ekaterina, however, reminded the women of the importance of regular medical check-ups: visiting a doctor, at least, once a year is necessary even in the absence of complaints. She informed the participants about the existence of support centres for women and single mothers, where they can turn to in difficult life situations. Additionally, the speaker announced her upcoming working missions in the Republic of Cameroon, planned for May 2026, and gave many practical tips on maintaining women’s health.
Social and Cultural Challenges – Warning About Dangers: An important block of questions concerning safety and conscious motherhood was highlighted by Mme Zima épouse Ndong Toung Celestine Charlotte, Cultural Advisor at the Embassy of Cameroon. She had a frank conversation, warning the girls about scammers and dishonest individuals offering attractive working conditions, behind which often lie indecent earnings and dangerous situations.
The Advisor reminded that for those who came to Russia to study, education should remain their main priority. She urged lady students to be vigilant, not to give in to dubious offers, and to postpone questions of pregnancy and starting a family to a later period, after completing their studies. She touched upon the legal and moral aspects of unwanted pregnancy, calling on the girls to engage in conscious life planning.
Economic Independence and Earning Opportunities: Luciana Tchami, a member of the executive bureau of Diaspocam, a non-profit social organisation, presented a report on “Women’s Capabilities: Professions and Part-Time Jobs for Young Women in Russia.” She gave examples of successful strategies for earning money and building a career within the conditions of the Russian labour market that are accessible to foreign students and young professionals.
The speaker detailed specific areas of work: young women can take short-term training courses and work in beauty salons (manicure, pedicure); many cafes and restaurants offer convenient part-time jobs. Luciana also mentioned specialised websites with attractive conditions for job seekers and opportunities for remote work: becoming a freelancer and helping with tasks online, for online stores, and in other areas.
Spiritual Support: A Reminder of a Woman’s Value. The conference concluded with Pastor Gustave Mbeng, responsible for charity at Diaspocam. His prayer-speech was dedicated to women’s rights and spiritual awakening. As a pastor, Mbeng reminded the participants that woman is the last and most ideal creation of God, perfect in all parameters of the universe. He emphasised that women are more beautiful and harmonious than men, and urged the girls to take care of themselves and not to distance themselves from God, so that there would be fewer difficulties and questions in life.
Pastor Gustave further paid special attention to the theme of preserving life. He took a stand against abortion, reminding that every child is a creation of God, and in the eyes of the Almighty, there is no such concept as abortion. If pregnancy does occur, it is important to preserve the child’s life and trust in God’s providence.
Technical organisation, moderation, translation and coordination of the conference were provided by Iness Zengue Abeng, President of the Association of International Students “Russia-Africa,” and Belle-Grâce Euphrasie, Dean, who acted as interpreter during the online event.
Conclusion and Future Plans: At the end, Louis Gouend extended gratitude to all participants, speakers, and presenters for the warm and trusting atmosphere.
The conference was held in an open dialogue format on the”Yandex Telemost” platform, which allowed women from different parts of Russia to ask questions live and receive moral support. Following the meeting, the organisers decided to hold such an online gathering, including organising a series of meetings not only for women but also for foreigners living in Russia.
The topics of future conferences will aim at education, open discussions, and debate on issues important for Africans in the Russian Federation: knowing one’s rights, being able to avoid unpleasant situations, behaving correctly in difficult life circumstances, and preserving cultural and spiritual identity.
Until now, prejudice and reactionary attitudes have denied full-fledged civic rights to millions of women, who are considered as workers, mothers, family partners, and citizens worldwide. Nevertheless, International Women’s Day, with its chequered history, is a public holiday in several countries. The United Nations observes the holiday in connection with a particular issue, campaign, or theme in women’s rights across the world.
World
Beijing Readies to Hand Over New ECOWAS Building Complex
By Kestér Kenn Klomegâh
Beijing’s decades-long policy decision to expand Chinese presence in Africa has, largely, transcended into gifting buildings. The African Union and Africa’s CDC to Zimbabwe’s parliamentary village, Ghana’s Foreign Ministry headquarters, and Egypt’s sports stadium, among many others, are classic examples. Following all these, China will hand over the new headquarters of the Economic Community of West African States (ECOWAS) in mid-March 2026.
Since the turn of the 21st century, China has risen to become Africa’s geopolitical partner, addressing concrete infrastructural projects across the continent. As is well-known, Beijing does so, with the sole aim of spending thousands of dollars to gain strategic control of the continent’s critical resources.
In an official news release, the regional bloc’s president, Dr Omar Alieu Touray, said that the new headquarters complex in Abuja, Nigeria, which will house the Commission, Parliament, and Court of Justice of the Economic Community of West African States (ECOWAS), will be operational in March 2026.
Built on a 7-hectare site along the road to Abuja airport, the building is currently completed. Known as the ‘Eye of West Africa,’ the new ECOWAS headquarters complex is entirely funded and built by the People’s Republic of China through the China International Development Cooperation Agency (China Aid).
It is a modern and functional administrative building, designed to meet the needs of the West African organisation. It will provide services to create a favourable working environment for the community’s staff members. The new complex comprises a main administrative building with three restaurants/cafeterias, banking rooms, a crèche, a gym, and three blocks containing 899 workstations: block A (central) has 11 floors, and blocks B and C have eight floors each.
It also includes a multipurpose building with security facilities, shops, a water tank, and archive rooms, as well as car parks with a total capacity of 702 parking spaces, a 720-seat auditorium, two committee rooms, a conference room, an equipment room, guard posts, and a helipad.
The new ECOWAS headquarters complex is seen as a symbol of the strengthening cooperation between China and the regional organisation. It is part of a technical and institutional partnership aimed at further supporting ECOWAS’ operational capacities, as well as part of ongoing cooperation between the two parties.
Accordingly, the headquarters complex will enable greater operational efficiency, reduced costs, and increased staff productivity. ECOWAS has expressed deep gratitude and sincere appreciation to China for its commitment and support to the regional organisation through the construction, seen as a ‘symbol of Beijing’s steadfast commitment to West African integration.’
World
Iranian Supreme Leader Ali Khamenei Dies After Air Strikes
By Dipo Olowookere
Iranian Supreme Leader, Mr Ayatollah Ali Khamenei, has died after coordinated airstrikes carried out by the United States and Israel on Tehran on Saturday morning.
His death was confirmed on Sunday morning by Iranian state media, which also disclosed that his daughter and grandchild were among those killed in the bombardment, which destroyed his compound.
Mr Khamenei was killed during a meeting with top leaders of the Middle East country yesterday, including the Defence Minister Amir Nasirzadeh and Revolutionary Guard commander Mohammad Pakpour, who reportedly died too.
His elimination has sparked mixed reactions, with some Iranians on the streets celebrating his demise, and others condemning the joint air strikes.
The President of the United States, Mr Donald Trump, described the late Iranian leader as “one of the most evil people in history,” expressing satisfaction at the action, which he said was “successful,” as it represented justice for both Iranians and Americans.
Meanwhile, Tehran has vowed to further respond to the attacks after initially firing missiles at six neighbours, including Qatar, Saudi Arabia, Kuwait, UAE, Bahrain, and Jordan.
Flight operations in the region have been disrupted because of the retaliatory action of Iran over the weekend, though most of the missiles were intercepted.
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