World
China, Russia and South Africa Perspectives on BRICS Expansion
By Kestér Kenn Klomegâh
Within the current global geopolitical changes, growing support is fast underway to give enough preparations for Saudi Arabia and possibly a few others to join BRICS, an organization comprised Brazil, Russia, India, China and South Africa. China will hand over the chair to South Africa in early 2023.
China and Russia have been pushing for the expansion of BRICS, soliciting support for the multipolar global governance system instead of the existing rules-based unipolar directed by the United States. Often explained that a bigger BRICS primarily offers huge opportunities among the group members and developing countries.
Russian President Vladimir Putin, at a plenary session of the Valdai Discussion Club held on October 27, reaffirmed Russia’s unshakable support for Saudi Arabia joining BRICS. “Yes, we support it, but this requires a consensus of all the BRICS countries,” he said.
According to him, Saudi Arabia is a rapidly developing country, which is due not only to its leading position in the hydrocarbon market. “This is also due to the fact that the Crown Prince, the government of Saudi Arabia, has very big plans for diversifying the economy, which is very important. They have entire national development plans designed for this goal,” the Russian President said.
He expressed confidence that, given the enthusiasm and creativity of Crown Prince Mohammed bin Salman Al Saud, these plans will be implemented. “Therefore, of course, Saudi Arabia deserves to be a member of major international organizations, such as the BRICS and such as the SCO. Most recently, we determined the status of Saudi Arabia in the SCO and will develop relations with this country both bilaterally and on multilateral platforms,” Putin added.
With the current global unstable situation creating skyrocketing uncertainties in global economic recovery, China has unreservedly shown its contribution to strengthening BRICS. For 16 years since its inception, China has offered the largest financial support for the BRICS National Development Bank and contributed tremendously to other directions, including health, education and economic collaboration among the group.
That is why BRICS has gained extensive recognition. More and more countries are willing and interested in becoming members of BRICS, making joint efforts to overcome difficulties and challenges, and realize common development and prosperity.
On May 19, China’s State Councillor and Foreign Minister Wang Yi chaired a video conference dialogue between foreign ministers of BRICS countries and their counterparts from emerging economies and developing countries. It was the first BRICS Plus dialogue at the level of foreign ministers. Participants in the dialogue came from BRICS countries as well as invited countries such as Kazakhstan, Saudi Arabia, Argentina, Egypt, Indonesia, Nigeria, Senegal, United Arab Emirates and Thailand.
According to Wang Yi, the dialogue’s importance was to further expand cooperation between the BRICS countries and other emerging and developing countries. In addition, Wang Wenbin, during his weekly media briefing on October 20, explained that as the BRICS chair for this year, China has actively supported the BRICS in starting the membership expansion process and advanced the “BRICS Plus” cooperation.
During the 14th BRICS summit successfully held in June 2022, President Xi Jinping noted at the meeting that BRICS countries gather not in a closed club or an exclusive circle but in a big family of mutual support and a partnership for win-win cooperation. At the summit, BRICS leaders reached important common understandings about BRICS expansion and expressed support for discussion on the standards and procedures of the expansion.
“This has been well received in the international community, and many countries have expressed interest in joining the BRICS. China supports and welcomes this. Going forward, China will work with fellow BRICS members to steadily proceed with the BRICS expansion process and enable more partners to join this promising endeavour,” Wenbin said at the media briefing.
Despite its large population of 1.5 billion, which many have considered an impediment, China pursues admirable collaborative strategic diplomacy with external countries, which has made it attain superpower status over Russia. A careful study and analysis monitored by this author vividly show that muscle-flexing Russia largely lacks public outreach diplomacy, Russia contributing towards its own “cancel culture” policy, and this is seriously detrimental to the emerging new global order.
South Africa was a late minor addition to the group, to add a bridgehead to Africa, says Charles Robertson, Chief Economist at Renaissance Capital. All the BRICS countries are facing economic challenges that need addressing urgently. The BRICS is keenly aware of the importance of contributing to Africa’s development agenda.
“Therefore, it could expand because the BRICS are under-represented in the global financial architecture. Europe and the United States dominate institutions like the International Monetary Fund (IMF) and the World Bank, and to some extent many others,” explained Robertson in an emailed query.
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.”
South African President Cyril Ramaphosa has repeatedly said that BRICS as a dynamic group would usher in a new global development era that promises a system of more inclusive, sustainable and fair principles. BRICS group, in an expanded form, can support a sustainable and equitable global economic recovery.
For South Africa, Ramaphosa further believes that the BRICS is simply a highly-valuable platform fixed to strengthen ties with partner countries in support of South Africa’s economic growth and for discussing global economic problems and challenges and strengthening the role of developing countries.
After his official visit to Saudi Arabia in mid-October, President Ramaposa said that Crown Prince Mohammed bin Salman Al Saud had expressed the desire to join BRICS. “The Crown Prince did express Saudi Arabia’s desire to be part of BRICS. They are not the only country seeking membership in BRICS,” according to the local radio station ABC.
Ramaphosa reminded that South Africa will hold the BRICS rotating presidency in 2023. “That BRICS summit next year under the chairship of South Africa, the matter of expanding BRICS is going to be under serious consideration. A number of countries are consistently making approaches to BRICS members, and we have given them the same answer, that the BRICS partners will discuss it, and thereafter, a collective decision will be made,” the president elaborated.
Historically, the group’s first meeting began in St Petersburg in 2005. It was called RIC, which stood for Russia, India and China. Then later, Brazil joined and finally South Africa in February 2011, which is why now it is referred to as BRICS.
The acronym BRICS is derived from the member countries’ names in English. The organization seeks to develop comprehensive cooperation among members in the economy, finance, education, science, culture and other areas. The BRICS (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 Modupe Gbadeyanka
For transforming cross-border payments through its deployment with Global Money Exchange, Comviva has been named Best In-Class Cross Border Payments.
The global leader in digital transformation solutions clinched this latest accolade at the IBS Intelligence Global FinTech Innovation Award 2025.
The recognition highlights how Comviva’s mobiquity Pay is helping shape a modern cross-border payment ecosystem that stretches far beyond conventional remittance services.
Deployed as a white label Wallet Platform and launched as Global Pay Oman App, it fulfils GMEC’s dual vision—positioning itself as an innovative payment service provider while digitally extending its core money transfer business.
The solution allows GMEC to offer international money transfers alongside seamless forex ordering and other services. These capabilities sit alongside a broad suite of everyday financial services, including bill and utility payments, merchant transactions, education-related payments, and other digital conveniences — all delivered through one unified experience.
“This award is a testament to Oman’s accelerating digital transformation and our commitment to reshaping how cross-border payments serve people and businesses across the Sultanate.
“By partnering with Comviva and bringing the Global Pay Oman Super App, we have moved beyond traditional remittance services to create a truly inclusive and future-ready financial ecosystem.
“This innovation is not only enhancing convenience and transparency for our customers but is also supporting Oman’s broader vision of building a digitally empowered economy,” the Managing Director at Global Money Exchange, Subromoniyan K.S, said.
Also commenting, the chief executive of Comviva, Mr Rajesh Chandiramani, said, “Cross-border payments are becoming a daily necessity, not a niche service, particularly for migrant and trade-linked economies.
“This recognition from IBS Intelligence validates our focus on building payment platforms that combine global reach with local relevance, operational resilience and a strong user experience. The deployment with Global Money Exchange Co. demonstrates how mobiquity® Pay enables financial institutions to move beyond remittances and deliver integrated digital services at scale.”
“The deployment of mobiquity Pay for GMEC showcases how scalable, API-driven digital wallet platforms can transform cross-border payments into seamless, value-rich experiences.
“By integrating remittances, bill payments, forex services, and AI-powered engagement into a unified Super App, Comviva has reimagined customer journeys and operational agility.
“This Best-in-Class Cross-border Payments award win stands as a testament to Comviva’s excellence in enabling financial institutions to compete and grow in a digitally convergent world,” the Director for Research and Digital Properties at IBS Intelligence, Nikhil Gokhale, said.
By Kestér Kenn Klomegâh
At the end of an extensive consultation with African foreign ministers, Russian Foreign Minister, Sergey Lavrov, has emphasized that Moscow would advance its economic engagement across Africa, admittedly outlining obstacles delaying the prompt implementation of several initiatives set forth in Strategic Action Plan (2023-2026) approved in St. Petersburg during the Russia-Africa Summit.
The second Ministerial Conference, by the Russian Foreign Ministry with support from Roscongress Foundation and the Arab Republic of Egypt, marked an important milestone towards raising bilateral investment and economic cooperation.
In Cairo, the capital city of the Arab Republic of Egypt, Lavrov read out the final resolution script, in a full-packed conference hall, and voiced strong confidence that Moscow would achieve its strategic economic goals with Africa, with support from the African Union (AU) and other Regional Economic blocs in the subsequent years. Despite the complexities posed by the Russia-Ukraine crisis, combined with geopolitical conditions inside the African continent, Moscow however reiterated its position to take serious steps in finding pragmatic prospects for mutual cooperation and improve multifaceted relations with Africa, distinctively in the different sectors: in trade, economic and investment spheres, education and culture, humanitarian and other promising areas.
The main event was the plenary session co-chaired by Russian Foreign Minister Sergey Lavrov and Egyptian Minister of Foreign Affairs, Emigration, and Egyptians Abroad Bashar Abdelathi. Welcome messages from Russian President Vladimir Putin and Egyptian President Abdelhak Sisi were read.
And broadly, the meeting participants compared notes on the most pressing issues on the international and Russian-African agendas, with a focus on the full implementation of the Russia-Africa Partnership Forum Action Plan for 2023-2026, approved at the second Russia-Africa Summit in St. Petersburg in 2023.
In addition, on the sidelines of the conference, Lavrov held talks with his African counterparts, and a number of bilateral documents were signed. A thematic event was held with the participation of Russian and African relevant agencies and organizations, aimed at unlocking the potential of trilateral Russia-Egypt-Africa cooperation in trade, economic, and educational spheres.
With changing times, Africa is rapidly becoming one of the key centers of a multipolar world order. It is experiencing a second awakening. Following their long-ago political independence, African countries are increasingly insisting on respect for their sovereignty and their right to independently manage their resources and destiny. Based on these conditions, it was concluded that Moscow begins an effective and comprehensive work on preparing a new three-year Cooperation and Joint Action Plan between Russia and Africa.
Moreover, these important areas of joint practical work are already detailed in the Joint Statement, which was unanimously approved and will serve as an important guideline for future work. According to reports, the Joint Statement reflects the progress of discussions on international and regional issues, as well as matters of global significance.
Following the conference, the Joint Statement adopted reflects shared approaches to addressing challenges and a mutual commitment to strengthening multifaceted cooperation with a view to ensuring high-quality preparation for the third Russia-Africa Summit in 2026.
On December 19-20, the Second Ministerial Conference of the Russia-Africa Partnership Forum was held in Cairo, Egypt. It was held for the first time on the African continent, attended by heads and representatives of the foreign policy ministries of 52 African states and the executive bodies of eight regional integration associations.
By Adedapo Adesanya
Social media platform, TikTok’s Chinese owner ByteDance has signed binding agreements with United States and global investors to operate its business in America.
Half of the joint venture will be owned by a group of investors, including Oracle, Silver Lake and the Emirati investment firm MGX, according to a memo sent by chief executive, Mr Shou Zi Chew.
The deal, which is set to close on January 22, 2026 would end years of efforts by the US government to force ByteDance to sell its US operations over national security concerns.
It is in line with a deal unveiled in September, when US President Donald Trump delayed the enforcement of a law that would ban the app unless it was sold.
In the memo, TikTok said the deal will enable “over 170 million Americans to continue discovering a world of endless possibilities as part of a vital global community”.
Under the agreement, ByteDance will retain 19.9 per cent of the business, while Oracle, Silver Lake and Abu Dhabi-based MGX will hold 15 per cent each.
Another 30.1 per cent will be held by affiliates of existing ByteDance investors, according to the memo.
The White House previously said that Oracle, which was co-founded by President Trump’s supporter Larry Ellison, will license TikTok’s recommendation algorithm as part of the deal.
The deal comes after a series of delays.
Business Post reported in April 2024 that the administration of President Joe Biden passed a law to ban the app over national security concerns, unless it was sold.
The law was set to go into effect on January 20, 2025 but was pushed back multiple times by President Trump, while his administration worked out a deal to transfer ownership.
President Trump said in September that he had spoken on the phone to China’s President Xi Jinping, who he said had given the deal the go ahead.
The platform’s future remained unclear after the leaders met face to face in October.
The app’s fate was clouded by ongoing tensions between the two nations on trade and other matters.
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