World
Mandela’s Heirs Lose Power in South Africa
By Alexander Braterskiy
South African authorities warn that if the opposition wins the parliamentary elections, the country may change course and leave the informal BRICS economic bloc, which includes Russia. The position of the African National Congress party, which has been in power since the collapse of apartheid, is indeed not the best, as shown by the municipal elections held earlier in the country. The opposition accuses the president of corruption and abuse of power, as well as an inability to cope with the country’s energy crisis. The ANC crisis occurred on the 30th anniversary of the first free elections in South Africa.
South African Ambassador to Russia Mzuvukile Jeff Maketuka believes that if the opposition wins the parliamentary elections this year, the country may leave the BRICS association. “If the official opposition wins the election, there will be a change in South Africa’s foreign policy position. There is a high probability that if this happens, South Africa will be withdrawn from BRICS,” the ambassador said in a recent interview with TASS.
Considering that the ambassador does not express his point of view, but expresses the position of the state, these words can be taken quite seriously. The ambassador even cited the example of Argentina, which, after the victory of populist Javier Millay in the elections, refused to join BRICS. However, if Argentina was just about to become a member of an informal but influential organization, then South Africa is a country that can be called one of the “founding fathers” of BRICS.
Elections in South Africa, which will be held at the end of May, could become a turning point for the country due to the possible loss of power of the ruling African National Congress (ANC) party. “The African National Congress, of course, played its rightful role during apartheid and secured the political independence of South Africa. Thereafter, it continued to play a huge role after independence in nation-building and economic development. But from the days of Jacob Zuma to Cyril Ramaphosa, the ANC became deeply corrupt, signing opaque deals with outside players. There are serious doubts about the integrity of the ANC. This is opportunism at its worst, not the human rights they fight for. In essence, the ANC’s policy is focused on the global trend – business deals for money,” African publicist Kester Kenn Klomegah tells Finam.ru.
It is symbolic that, simultaneously with the elections, the country will mark 30 years since the collapse of the apartheid system, a rigid authoritarian system of rule by the white minority. The long-standing policy was associated with a system of racial discrimination in which members of the African population were considered second-class citizens.
“The Pretoria regime guards the interests of imperialism in Africa” – this phrase from the Soviet magazine “International Affairs” in 1985 is familiar to almost everyone who grew up in the USSR. At the same time, it must be said that in terms of attitude towards apartheid, the USSR was on the right side of history, unlike many Western countries that sold weapons to this country despite international sanctions. The USSR also actively contributed to the establishment of democracy in South Africa. The former head of TASS, Vitaly Ignatenko, recalls how he handed over a letter from South African President Frederik de Klerk to the head of the Soviet Foreign Ministry, Eduard Shevardnadze. The country’s authorities were looking for opportunities to establish relations with the USSR on the wave of democratization.
The head of the then-white minority regime, de Klerk, began “democratization from above” in the country. He was released from prison by the main enemy of the regime, Nelson Mandela, who had spent more than 26 years in prison. Mandela’s release marked the beginning of the end of apartheid: in 1994, the country held its first free elections, in which the ANC won a majority. The former opponents came to reconciliation through a special commission, at which members of the former regime asked for forgiveness from the victims. In 1994, Mandela was elected president of the country, leaving office in 1999.
Breach of contract
However, the euphoria of the first years of democratization and economic growth has passed. As economist Timothy Taylor writes on his Conversable Economist blog, the 1994 changes “created few winners.” “In this view, South Africa’s democracy was built on the simple assumption that a growing black elite and middle class could compromise with anyone, provided that each generation of black South Africans did better than the last,” the author writes.
All this continued for the first 15 years, and although “inequality remained enormous, the bottom quarter of the population was able to rise through the expansion of the welfare state. However, after the global crisis of 2008, the era of state capture under former President Jacob Zuma and COVID, this “founding treaty” was broken.”
According to the IMF, South Africa’s economy grew by 0.4% in 2023. The fund’s economists also note that one of the country’s main problems is the increased level of public debt, one of the highest among developing countries. As IMF experts write, it “limits the government’s ability to respond to shocks and meet growing social and development needs. Stabilizing the country’s debt and making room in the budget for targeted social spending and public investment will require cuts to the government’s wage bill and transfers to state-owned enterprises.”
The situation is also reflected in the purchasing power of South Africans. 44% of consumers spent less during the holiday season than the previous year, largely due to lower income, and only 30% spent more than they did in 2022, according to a Citibank survey.
Return to the same problems
The ANC party, which came to power after the fall of apartheid, still has a majority in parliament, but 30 years later its position is not the best. “The 2024 elections in South Africa may become a turning point in its history,” note the Institute of African Studies of the Russian Academy of Sciences and remind that according to the results of municipal elections in 2021, the number of votes cast for the party decreased to 45.6%.
According to an October 2023 poll by the Social Research Foundation (SRF), only 45% of voters would vote for the ANC if elections were held tomorrow, down from 52% in March.
The sympathies of many South African voters are on the side of the opposition Democratic Alliance party, which takes liberal positions in contrast to the left-wing ANC. Its leader is white, South African citizen John Steenhuisen, but black politicians also occupy high positions in the party. The party is critical of Russia’s Northern Military District in Ukraine. During the upcoming visit of Russian President Vladimir Putin in the summer of 2023, the party appealed to the South African court demanding the execution of the decision of the International Criminal Court. Earlier, the ICC issued an arrest warrant for Putin and the Ombudsman for Children’s Rights Maria Lvova-Belova because they were allegedly involved in the illegal removal of Ukrainian children. As the South African Ambassador to Russia, Maketuka, noted in an interview with TASS, “the main opposition party is not a friend of Russia.”
Citizens of South Africa, 30 years later, are concerned about the same problems as before: inequality, poverty, unemployment, which has grown significantly among young Africans. According to government data cited by the Associated Press, unemployment covers more than 33% of the country’s residents. Among young people, the unemployment rate is 61%. Because of the current situation, many of the older generations even yearn for the times of apartheid, when they lived, albeit in fear, but with a roof over their heads.
However, there are still improvements in South Africa, writes Bloomberg, noting a drop in the unemployment rate to the lowest level since 2021. However, economists warn that this effect could fade as electricity supply problems worsen.
“Power outages, volatile commodity prices and challenging external conditions have contributed to the country’s weak economic growth performance,” the IMF report said.
The problem with the shortage of electricity in the country has been around for a long time – many substations have fallen into disrepair, they are more than 50 years old, and the available generating capacity is declining. The national energy company is forced to limit the supply of electricity to avoid a collapse. The country’s central bank says power woes cost the economy $13 billion in 2023 alone. Significant investments are needed to improve the situation.
Hope is pinned on China, which is actively represented in such sectors of the country’s economy as mining, telecommunications, and electronics manufacturing. According to government data, the total level of Chinese investment in the South African economy amounted to 200 billion rand, more than $10 billion.
The potential of South Africa also promises opportunities for Russian business, but so far there are few large Russian projects in this country. However, South Africa sees opportunities to strengthen cooperation with Russia against the backdrop of weakening ties between Moscow and the “collective West.” Moreover, among South Africa’s largest trading partners, besides China, are countries such as the USA, Germany, and the UK. A multi-vector policy for developing economic ties with the whole world, and albeit sometimes creakingly, but working democratic institutions, is also a legacy of the victory over apartheid and a reflection of Mandela’s words, which, however, were only partially realized. “Throughout my life, I have devoted myself entirely to the struggle for the African population. I fought against both white supremacy and black supremacy. I revered the ideal of a democratic and free society in which all citizens live in harmony and have equal opportunity.”
This article first appeared in Finam media and was reposted with the author’s permission.
By Kestér Kenn Klomegâh
One year after launching a continental initiative designed to make excellence in public governance the foundation of a new drive to transform Africa, LEAD, the Africa CEO Forum’s pan-African leadership programme, takes stock of its first cohort and announces the launch of its second class. Built around a community of senior public decision-makers committed to modernising the state and to the continent’s digital transformation, this new cohort gathers for three days, from 28 to 30 August 2026, on the campus of Mohammed VI Polytechnic University (UM6P) in Rabat, Morocco.
A second cohort that confirms the programme’s durability
For its second class, LEAD brings together 50 fellows, senior public decision-makers engaged in the design and implementation of the continent’s economic and social policies. Over three days, participants take part in collective and collaborative working sessions, peer exchanges and meetings with figures from the public, business and academic spheres, in order to compare their practices and build shared responses to the major challenges of governance.
Speakers include Mehdi Jomaa, former Head of Government of Tunisia, Donald Kaberuka, Managing Partner & Founder, SouthBridge Group, and former President of the African Development Bank, Serge Ekue, President of the West African Development Bank (BOAD), Sanjay Jain, co-creator of India Stack and Director of Digital Public Infrastructure, Gates Foundation, and Mauricio Cardenas, Professor of Professional Practice in Global Leadership, Columbia SIPA, and former Finance Minister of Colombia (2012-2018).
They share their reform experience, their public policy trade-offs and their view of continental priorities. Throughout the programme, the cohort benefits from the dedicated support of Mohammed VI Polytechnic University, Asafo & Co, BOAD, BCG and the African Development Bank, LEAD partners that have chosen to invest in the transformation of African public action.
LEAD, a pan-African community serving public action
Created by the AFRICA CEO FORUM, LEAD is a leadership programme whose ambition is to reposition Africa’s administrative elite as a driver of reform, of performance and of dialogue with all the continent’s stakeholders.
Designed for senior African public decision-makers, LEAD sets out to build a lasting community of public officials able to share their experience, compare their practices and build common solutions to the major economic, technological and institutional transformations under way in Africa. That community is structured around three pillars: modernizing the state, improving public services, and strengthening cooperation between governments, development institutions and private-sector players.
From fellows to alumni: a long-term initiative
Made up of 36 fellows drawn from a range of administrations and institutions and representing 24 countries across the continent, LEAD’s first cohort demonstrated the quality and the potential of this community from its very first year. In less than twelve months, six of its members have taken a significant step forward: two have been appointed ministers, two have moved into strategic positions at the highest level of the state and two have been promoted to chief executive roles. These moves, which account for 16.7% of the first class, show the role LEAD plays as an accelerator of impact within African administrations.
By bringing together a new cohort of fellows every year, each of them joining the LEAD alumni community, the initiative follows a long-term trajectory: in time, to unite several hundred African public decision-makers around a shared culture of transparency, performance and regional cooperation.
A first year devoted to public service and digital public infrastructure
Throughout the year, the fellows devoted their work to strengthening African public action, to make excellence in public governance a central lever of transformation. An awareness campaign, run as part of Africa Public Service Day, brought to light those who, within the continent’s administrations and institutions, are concretely transforming public policy and improving the services offered to citizens.
Members of the cohort also took part in a special round table held in Kigali during the ACF 2026, in order to carry their thinking to a wider community of public and private leaders. That forum reinforced LEAD’s role as a platform for dialogue between the administrative elite and the continent’s economic players. Digital public infrastructure (DPI) formed the main thread of this first year of work.
Discussions covered issues at the heart of the digital sovereignty of African states: digital identity, payments, secure data exchange, interoperability, governance and the protection of citizens. This work examined the conditions under which African states are developing, in some cases, and can develop, in others, shared, open infrastructure robust enough to improve the quality of public services while supporting local innovation and preserving the capacity of public authorities to set the rules of the game.
A white paper to move from consuming technology to creating value
This year of work concludes with the publication, in collaboration with BCG, LEAD’s Knowledge Partner, of a white paper on Africa’s place in the digital economy and in artificial intelligence. With the digital economy still accounting for around 5% of African GDP, against close to 15% worldwide, the paper calls on the continent to shift from a logic of technology consumption to one of value creation.
The white paper identifies three structuring priorities for African public actors:
- Building shared digital infrastructure that serves as the backbone of public services and private innovation.
- Pooling investment in order to reach critical mass and avoid the fragmentation of efforts across the continent.
- Favouring open and interoperable architectures, with trust and governance built in by design, so as to protect citizens while stimulating the entrepreneurial ecosystem.
The white paper is available here to all public decision-makers, technical partners and institutions concerned.
“LEAD’s first cohort confirms a simple conviction: Africa already has the women and men capable of profoundly transforming public action. Our responsibility, either with our partners, is to give them, at pan-African level, a space in which to compare experience, build common solutions and bring forward a new generation of public policy. With this second cohort, we want to accelerate the move from ambition to execution, in particular on digital public infrastructure and artificial intelligence, two decisive issues for sovereignty, for the effectiveness of the state and for value creation across the continent,” says Amir Ben Yahmed, President of the Africa CEO Forum.
By Kestér Kenn Klomegâh
Africa is set to make history as it hosts the World Public Summit for the first time, with Addis Ababa, Ethiopia, welcoming global leaders and changemakers from July 29–30, 2026, for the landmark gathering under the theme “New World: Africa in Shaping a Shared Future.”
The inaugural African edition of the World Public Summit marks a significant milestone in the continent’s growing role in shaping international dialogue on governance, sustainable development, human-centred leadership and global cooperation.
Hosted by the World Peoples Assembly in partnership with African and international organisations, the summit will convene government officials, diplomats, business leaders, academics, journalists, youth representatives, civil society organisations and cultural leaders from across Africa and around the world.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Summit is not just a meeting—it is a space for unity. A space where the ‘values that unite us’ come to life: respect for people, openness to the world, responsibility for the future, and a commitment to creation.
“Today, we understand more clearly than ever: the future cannot be built alone. It is born in dialogue, in trust, in the ability to listen to one another and to act together.”
The programme begins on July 29 with a series of high-level roundtables and expert discussions covering Pan-African economic integration, civil society, education, scientific cooperation, cultural diplomacy and humanitarian partnerships.
The opening plenary, “Values, Development and Partnership as the Basis of a Sustainable and Just World,” will explore how African values—including Ubuntu—can help shape a more inclusive and sustainable global future. Discussions will also focus on youth leadership, innovation, civil society, ethical AI, public initiatives and international partnerships.
The summit will also showcase Africa’s creativity and innovation through the “Innovations for the Future” exhibition, the contemporary African art exhibition “Unity,” and the international exhibition “The World Paints Happiness.”
Another featured initiative is “The Zambezi River: Economy, Society, Soul,” an international interdisciplinary project exploring the river’s socioeconomic importance across Angola, Botswana, Mozambique, Namibia, Zambia and Zimbabwe, highlighting the shared heritage and development potential of one of Africa’s most important waterways.
The event will conclude with the adoption of the African Communiqué, reflecting the summit’s shared vision for stronger international cooperation, sustainable development and people-centred leadership.
Tsegaye Chama, General Secretary of the Global Black Centre, promised that, “The Summit will be delivered with exceptional distinction, reflecting the magnitude and spirit of the World Peoples Assembly. It embodies a unity that is not transactional, but purposeful and conscious, a unity that shapes new contours for a world that works for all peoples of the World.”
As delegates prepare to arrive in Addis Ababa, anticipation continues to build for what promises to be one of Africa’s most significant international gatherings of 2026—one that will place the continent firmly at the centre of global conversations about the future.
By Adedapo Adesanya
Nigeria regained its position as Africa’s leading destination for equity startup investment in the first half of 2026, raising $214 million in equity financing and a total of $254 million across equity and debt, according to the latest Africa: The Big Deal report.
The report, titled H1 2026: Mapping the Money, showed that Nigeria ranked second on the continent in total funding, behind Egypt, which attracted $327 million, while Kenya and South Africa followed with $126 million and $83 million, respectively.
However, the report noted that Egypt’s top position was largely driven by a single fundraising by electric mobility company Spiro, which secured $327 million, including $270 million in equity and $57 million in debt. Excluding debt financing, Nigeria emerged as Africa’s largest equity funding market in the first six months of the year.
According to the breakdown by Africa: The Big Deal, Nigeria’s equity funding of $214 million was higher than Egypt’s $183 million, while South Africa and Kenya attracted $66 million and $46 million, respectively.
Beyond funding value, Nigeria also led the continent in the number of startups that raised at least $100,000 during the review period, reclaiming the top spot after what the report described as an “underwhelming” second half of 2025.
The publication observed that Nigeria’s fundraising performance has remained relatively stable over the past few years and exceeded the $250 million mark for the first time since 2022, pointing to renewed investor confidence in the country’s startup ecosystem.
It also found that while the Big Four startup markets—Nigeria, Egypt, Kenya and South Africa—continued to dominate Africa’s investment landscape, their combined share of total funding stood at 58 per cent in the first half of 2026.
“Zooming back on the Big Four (110 out of 190 $100k+ deals, i.e. 58%), Nigeria is head and shoulders above its peers, with Egypt and Kenya almost tying, and South Africa in fourth position again,” the report noted.
The report highlighted contrasting performances among the continent’s largest startup ecosystems. While Nigeria and Egypt maintained strong funding momentum, Kenya recorded its weakest funding performance since early 2021 after a strong second half of 2025, and South Africa failed to attract $100 million in funding during the period despite leading the continent a year earlier.
Africa: The Big Deal also noted a broader shift in investor behaviour, with funding increasingly concentrated in larger transactions while early-stage investments continued to decline. According to the publication, the drop in smaller funding rounds reflects growing concerns about limited capital available for early-stage startups across Africa.
