World
G20 and Africa: Unique Platform for Transformative Economic Partnership
By Kestér Kenn Klomegâh
The Group of 20 (G20) is an intergovernmental forum comprising 19 sovereign countries, the European Union (EU), and the African Union (AU). It works to address major issues related to the global economy, such as international financial stability, climate change mitigation and sustainable development, through annual meetings of Heads of State and Heads of Government.
The G20 was created in 1999 in response to several world economic crises, and South Africa has been the only African member in the Group. However, in September 2023, at the 18th G20 Summit, Indian PM Narendra Modi announced that the African Union (AU) has been included as a member of the G20, making it the 21st member of the intergovernmental forum. South Africa will take over the G20 presidency in 2025.
In mid-December 2024, Brand South Africa’s General Manager Lefentse Nokaneng, discussed in this insightful interview, the significance of the G20 forum, the multifaceted prospects and unique opportunities G20 could offer Africa. Here are the interview excerpts:
What are the aspirations, as South Africa prepares to take over the G20 presidency from Brazil, for Africa?
As South Africa prepares to take over the G20 presidency from Brazil in 2025, our aspirations for Africa have always been clear and compelling. As a founding member of the G20, South Africa has played a pivotal role in advocating for Africa’s inclusion within this influential multilateral forum.
Under the theme “Solidarity, Equality, and Sustainable Development,” South Africa’s presidency presents a significant opportunity to advance crucial reforms in the global governance system, ensuring that it is more representative of and responsive to the developmental needs of Africa and the Global South. To this, by focusing on reforms to the multilateral trading system and the global financial architecture, we aim to effectively address the pressing challenges of underdevelopment and transform the fortunes of the most vulnerable communities, many of whom reside in Africa.
As the leading economy on the continent, South Africa is deeply committed to unlocking Africa’s vast potential and fostering inclusive growth through the African Continental Free Trade Area (AfCFTA). We envision a G20 agenda that not only amplifies Africa’s voice but also drives collaborative efforts toward sustainable development aligned with the aspirations of the Pact for the Future and the achievement of the Sustainable Development Goals (SDGs) by 2030. This vision aligns with the African Union’s Agenda 2063, which aims to realize “The Africa We Want,” ultimately improving the lives of all Africans.
But generally, how has Africa, as a continent, so far benefited from G20, and what concretely can we underscore as remarkable achievements?
The inclusion of the African Union (AU) as a permanent member of the G20 can be underscored as a key achievement for the continent, providing a crucial platform for African nations to have a voice and to engage directly with major economic powers on key issues, that affect them, such as debt relief, security, infrastructure development, pandemics, and climate change. Prior to the AU’s membership, South Africa was the only African representative in the G20, which limited the continent’s ability to influence discussions on issues affecting its nations.
Africa stands at a pivotal moment in its development journey, with the G20 providing a crucial platform to address pressing development challenges and unlock immense growth potential through the African Continental Free Trade Area (AfCFTA). The African Development Bank highlights a significant $70 to $100 billion deficit in infrastructure investment across the continent, underscoring the need for a substantial 6% of GDP investment to achieve growth rates of 3% to 3.5%, well above the current global average. Collaborating with G20 partners offers Africa the opportunity to mobilize essential resources and expertise to bridge this gap.
Central to this effort is the reform of the international financial architecture to create equitable opportunities for Africa to harness its vast potential. By embracing innovative financing mechanisms, the continent can effectively address critical infrastructure gaps, unlocking pathways to inclusive and sustainable development. It is also vital to advocate for fair climate policies that recognize the diverse developmental stages of African economies, ensuring that measures such as carbon taxes do not disproportionately impact emerging nations.
To this end, investments in Africa’s energy transition are crucial. Notably, Germany, under the G20 Compact with Africa Initiative, has unveiled a R76-billion investment package aimed at facilitating Africa’s green energy transition by 2030. Furthermore, the New Collective Quantified Goal (NCQG) is a vital component of the Paris Agreement, setting a new financial target to support developing countries in their climate actions post-2025. By building on the $100 billion target established in 2009, the NCQG seeks to address persistent gaps in climate finance and provides a more ambitious and realistic framework for sustainable development.
For Africa, the commitment of developed nations to these climate goals is integral to achieving success. By ensuring adequate financing and support, Africa can not only meet its climate objectives but also harness its natural resources for sustainable growth. These initiatives highlight the importance of G20’s commitments to fostering international partnerships that drive meaningful change for Africa’s development.
And now, within the context of geopolitical changes, what else can we expect from G20 as South Africa takes over from Brazil?
As South Africa prepares to take over the G20 presidency from Brazil, it will continue its commitment to being a responsible global citizen, particularly considering ongoing geopolitical changes. During its presidency, South Africa will amplify its advocacy for peaceful conflict resolution and the promotion of democratic principles and human rights on the international stage. This commitment is grounded in a foreign policy that emphasizes neutrality, respect for mediation, and the critical importance of peace.
Leveraging its leadership within the G20, South Africa aims to navigate and address pressing geopolitical tensions by fostering constructive dialogue among nations. It seeks to promote collaborative approaches that prioritize diplomacy and multilateralism, ensuring that diverse perspectives are acknowledged and that solutions are inclusive. In this way, South Africa will play a pivotal role in shaping a more stable and peaceful global environment.
South Africa has consistently been advocating for, both structural and operational, reforms at the multinational institutions, what about putting first the internal order at the African Union (AU)?
Advocating for reforms at multinational institutions and strengthening the internal order of the African Union (AU) are not mutually exclusive; rather, they are complementary efforts essential for effective continental and global governance, particularly in a fractured geopolitical landscape. Enhancing the AU’s governance and operational frameworks is crucial to addressing Africa’s pressing challenges, which the AU has prioritized and encapsulated in its Agenda 2063. Enhancing the AU’s governance and operational frameworks is crucial to addressing Africa’s pressing challenges, which the AU has prioritized and encapsulated in its Agenda 2063. Simultaneous engagement with global governance structures is necessary to ensure that they advance critical reforms, making the global governance system more representative of and responsive to the developmental needs of Africa and the Global South.
The AU’s commitment to good governance has been a priority for many years and is prominently featured in its Agenda 2063: The Africa We Want. This strategic framework outlines the AU’s vision for transforming Africa into a global powerhouse and emphasizes good governance, democracy, respect for human rights, justice, and the rule of law among its seven aspirations. According to the 2022 IIAG report, more than half of Africa’s population now resides in countries where overall governance has improved, reflecting the positive impact of these efforts.
As South Africa assumes the G20 presidency as a member of the AU and the Global South, it is uniquely positioned to drive the development agenda for both Africa and the Global South while advocating for essential reforms in global governance. This focus aims to address the pressing need for more inclusive and effective multilateralism that better represents the interests and aspirations of developing nations.
By Aduragbemi Omiyale
Accessing the US Dollar in the East Africa region has now been made easier with the expansion of the stablecoin settlement infrastructure of SCRYPT.
This development enables banks, payment providers and corporate treasury teams to move value into and out of the continent in real time.
Businesses paying international suppliers frequently have to convert local currency into USD before purchasing stablecoins for settlement, incurring FX conversions and spreads before any payment is made.
But SCRYPT is eliminating this intermediate conversion by enabling direct settlement corridors for local African currencies into stablecoins.
This development allows businesses to move from local currency to stablecoin settlement in a single licensed transaction, without first sourcing rationed bank dollars, as stablecoins are increasingly becoming settlement infrastructure rather than an investment product.
The expansion adds settlement support across four African currencies: the Kenyan shilling (KES), Tanzanian shilling (TZS), Rwandan franc (RWF) and Ugandan shilling (UGX). Each corridor is delivered through the same full-stack infrastructure our clients already use for trading, custody and treasury operations.
Speaking on this, the chief executive of SCRYPT, Norman Wooding, said, “Across Africa, stablecoin adoption is driven by economic need, not speculation.
“Businesses here are not chasing yield; they are trying to pay suppliers and manage treasury without losing margin to a banking system that rations dollars. Licensed, fair-rate dollar access is the clearest proof of what this infrastructure is for.”
Also commenting, the Managing Director of Markets & Trading at SCRYPT, Mr Gabriel Titopoulos, said, “Until now, reaching stablecoins from local African currencies meant buying scarce dollars and incurring several layers of conversion costs.
“SCRYPT removes this friction. Firms and payment providers can now settle straight from local currencies through live corridors, with local partners.”
World
African Graduates Association Promoting Multifaceted Initiatives With Russian Educational Institutions
By Kestér Kenn Klomegâh
In preparations for the third Russia-Africa Summit, scheduled for late October 2026, Dr Francois Ngan, deputy chairman of the Union of Associations of African Graduates of Soviet and Russian Universities, during an official working visit, has held a consultative meeting with Professor Vladimir Filippov, the President of the Russian University of Peoples’ Friendship (RUDN), and former Minister of Higher Education of Russia, Chairman of the National Commission for Accreditation of Higher Education.
RUDN is an educational institution established in 1960, primarily to provide higher education to Third World students. It has now become a popular multidisciplinary spot for many students, especially from developing countries. The university offers various academic programmes and has research infrastructure that comprises laboratories and interdisciplinary centres. The university is named after the former Congolese leader, Patrice Lumumba.
Dr Francois Ngan and Professor Filippov discussed the importance of the Graduates Association as a continental platform dedicated to strengthening unity, cooperation, and promoting shared progress among African graduates who studied in the former Soviet Union and in the Russian Federation. They also reviewed multifaceted initiatives that could bring together alumni associations from across Africa, whose members obtained education and professional training, and cultural experiences in Soviet and Russian institutions of higher learning.
Professor Filippov expressed optimism in addressing emerging challenges as a result of shifting geopolitical changes, emphasised strategic cooperation in the educational sphere with Africa, in general, and with the Republic of Cameroon, in particular, and further about the integration of African students during their studies in the Russian Federation.
The meeting also touched on academic and scientific work, the possibility of rewriting a scientific thesis, and the official organisation of transferring versions translated into six languages for the library of RUDN. Significant questions relating to Russia’s educational opportunities, collaborations and partnerships involving African countries were thoroughly discussed.
The Union of Associations of African Graduates of Soviet and Russian Universities was created under one continental umbrella to promote friendship, for professional networking, to engage in cultural exchange, and with particular emphasis on forging strategic cooperation between Africa and Russia.
World
Russia to Support Industrial Growth, Technological Advancement and Supply Chain Resilience across Africa
By Kestér Kenn Klomegâh
With the heightening of geopolitical rivalry and competition, a new Russia-Africa working group has emerged as a significant institutional mechanism and plans to focus on facilitating and monitoring strategic investments, industrialisation, and infrastructural development—the Strategic Action Plan 2023-2026—that was outlined during the second Russia-Africa summit, in St.Petersburg, the second largest city in the Russian Federation.
While substantial progress has, largely, lagged on the multidimensional economic front with Africa primarily due to its internal difficulties and the complexity of relations with its former Soviet neighbours, Russian officials believe there still remains huge untapped potential in strengthening bilateral cooperation. As planned, President Vladimir Putin has already signed an executive order that directs Moscow to host the forthcoming third Russia-Africa summit in October 2026.
On June 30, a regular meeting of the Business Council on Africa was held under the chairmanship of the head of the Russian Foreign Ministry. It was dedicated to issues of trade, economic and investment cooperation with Africa. The group discussed the current state and prospects for the implementation of policy initiatives with an emphasis on assisting the countries of the continent, strengthening their economic, energy, technological and food sovereignty, as well as training specialists for Africa.
Foreign Minister Sergey Lavrov has reiterated that Russia-Africa relations primarily depend on an understanding of the importance of collective action based on the principles of equality, mutual respect and resolving common tasks. In the past few years, Russia-Africa cooperation has been noticeably strengthening. “We are deepening political dialogues, developing bilateral contacts with African countries, promoting cordial cooperation between ministries and departments, and expanding humanitarian exchanges. We are also continuing the structural diversification of trade partnerships and economic dimensions.”
“Next on the agenda is the launch of diplomatic missions in The Gambia, Liberia, Togo, and the Union of the Comoros,” Lavrov said at a meeting of the Business Council under the Russian foreign minister. Lavrov noted that Russian embassies began operating in three other African countries in 2025: Niger, Sierra Leone, and South Sudan. A new Department for Partnership with Africa was also established. According to the top diplomat, “expanding Russia’s diplomatic presence on the continent contributes to developing relations.”
There are already 45 Russian embassies operating in Africa. The Russian foreign minister noted that Moscow is quickly rebuilding its presence in African countries, which sharply declined during the collapse of the Soviet Union. “There will be literally four or five countries left where we still need to establish full-fledged embassies, and then, we will have 100 per cent coverage of the entire African continent with our diplomatic presence,” Lavrov emphasised.
After the first summit in October 2019, the Foreign Ministry also created the Secretariat of the Russia-Africa Partnership Forum. Its main tasks include controlling the roadmap to Africa’s multidimensional cooperation and guiding potential Russian investors to the continent. This also underscored the priority and post-Soviet solidarity Russia currently attaches to its policy towards Africa, within the growing framework of the emerging new architecture of multipolarity in the Global South.
In an interview in June 2026, the director of the Department of Partnership with Africa at the Foreign Ministry, Tatyana Dovgalenko, shared a few insights in the lead-up to the third summit. Furthermore, Dovgalenko explained that Russia would move away from security to concentrate more on economic issues, especially to team up with African colleagues to streamline mechanisms for implementing projects that will ensure food security and agriculture, and help Africa in installing processing facilities to support its self-sufficiency. She also emphasised energy and vital infrastructures, and the third direction was to simultaneously work more coherently with sub-regional organisations.
Over the past few years, bilateral relations have been increasing. There are positive dynamics in trade turnover, estimated at $30 billion. Steps are being taken to build payment systems, preferably in national currencies, while Russia looks to open four more diplomatic offices, bringing the total to 48 across Africa. Russia is currently training 37,000 African students, but only approximately 1/3 on state scholarships in Russia’s educational institutions. “We are ready to share valuable experiences of building a sovereign development model with African partners to achieve self-reliant economic growth based on their own resources and capabilities. Russia aims at creating processing capabilities and localising production, and provides access to advanced technological solutions,” underlined Dovgalenko in her interview with New Eastern Outlook.
For African countries that have endured difficult decades on the path to political independence, it is now important to take full control over the untapped resources, direct income and revenue toward stimulating the national economic sector, rather than paying for the well-being of the Western “golden billion” during this changing geopolitical era, according to Dovgalenko.
According to reports, the forthcoming Russia-Africa summit will have an economic agenda, including the digital economy, technology, artificial intelligence, healthcare, investment, and settlements in global trade. Of course, the agenda will also cover Africa’s political aspects. But if African friends bring along any specific ideas, Russia will give them serious attention. In addition, with continuity and consistency, pay increased attention to expanding ties with Africa’s regional integration associations.
Going forward, the focus will be on translating strong trade relations into deeper investment partnerships, fostering technology collaboration, strengthening industrial linkages and contributing towards the shared objectives set by the leadership of both African countries and Russia. At the third summit, the above-mentioned specific initiatives will be further designed. In this regard, the key document, the new action plan for the next three-year period (2027-2029), is intended to reflect dynamic realities in the future relations of Russia and Africa
