World
Multidisciplinary Perspective of Association of Five Major Emerging Economies
By Kester Kenn Klomegah
The BRICS, an association of five major emerging economies Brazil, Russia, India, China and South Africa, has a significant influence on regional affairs and is very active on the global stage.
All of them are members of the G20. While the group has received both praise and criticism from different corners of the world, BRICS is steadily working towards realizing its set goals, bilateral relations among them are also conducted on the basis of equality and mutual benefits.
In this exclusive interview for IDN, Dr Byelongo Elisée Isheloke, who is currently a Postdoctoral Research Fellow at the University of Cape Town and has scholarly researched some aspects of BRICS for the past ten years, spoke with Kester Kenn Klomegah about his latest book titled “BRICS and Economic Development: A Multidisciplinary Perspective” published in India. Here are the interview excerpts:
What are the driving reasons for writing the book on BRICS?
Interestingly, BRICS has opened the door to new academic research opportunities. As an academic, I have written four books but this is the first one devoted entirely to BRICS topic. I have also written a few articles on the BRICS aspects. I have researched on BRICS right from its creation. From day one, I believed that BRICS will shape the economic situation of the World and will have an impact on multilateralism.
The book is well received by academics in South Africa. I hope BRICS experts and researchers will continue debating on burning issues in the book. I still believe that while competition with the World Bank and IMF is inevitable, there still is a level of understanding and cooperation that must be upheld for stability and win-win engagements between the two blocs. Peace and stability in the world also depend on that.
My doctorate studies focused on BRICS interventions in the South African mining sector. I have a background in business studies and have embarked on research on industrial and economic issues for years.
As an academic, this has become another research area of specialization. It is a force to reckon with. I wrote the book or rather I co-authored it out of passion and conviction. It is also a research product of many contributors or co-authors. I thank them for working with me in this project.
What important key issues are raised or discussed in the book?
Important key issues raised include: First and foremost, BRICS is still important today but it faces a number of challenges: trade war, border conflicts, corruption, political issues, corona crisis and other socio-economic problems. Secondly, the current BRICS partnership is not sustainable, from its creation, the BRICS has changed in purpose and priorities. It will continue to change.
The third point here is the idea of BRICS Plus, or additional members to join the BRICS. That was a brilliant one. The organization should not be static. It has never been. Some European countries wanted to join but in vain, Africa is represented in the BRICS but South Africa should be supported. It is my opinion. The relationship between Russia and South Africa as a gateway to the rest of the continent is looked at. It is obvious that the people of Africa need more development than it is the case today.
The tigers suggested joining as emerging economies. I submit that the criteria to add countries based on whether they are emerging economies do not hold. Economics fluctuate and emerging economies today may struggle tomorrow.
If countries join based on merit or potential contribution, I will suggest African countries to join as observer countries first, and then when they are ready they may become effective members. The Democratic Republic of Congo (DRC), for example, has a lot to offer as potential so also have other African countries.
We raised the issue of the knowledge economy as a priority, IT, port economics, BRICS banking effectiveness, language policy and many other issues. BRICS needs to coordinate their collective action towards solving the coronavirus crisis with the rest of the world. A “global” solution is needed, that means a global solution with local implications.
Brazil, Russia, India, China, and South Africa are the important players of the emerging markets in the global economy and their innovation profiles matter for the economic growth of individual countries and the bloc.
The purpose of this book is to critically analyze and compare the international rankings in innovation outputs in terms of knowledge and technology outputs among the BRICS countries, in relation, to their economic growth in the last two years.
Using a variety of research conducted separately, this e-book discusses matters of economic substance from an African perspective. It identifies the negative scores of the BRICS as a partnership as it is faced with death and seeks to understand its rebirth, restructuring or re-engineering in the aftermath.
The study further assesses the strengths of BRICS and advises how to capitalize on these for a steady economic growth going forward. It looks at economic issues affecting the BRICS or its member countries with a focus on South Africa.
The issue of language policy in the partnership was not forgotten and possible solutions to language planning issues are proposed. On this aspect, the people of the BRICS member countries should be consulted. The book calls for a bottom-up approach in conjunction with the top-down approach that was promoted from the BRICS inception.
What critical challenges do you think still remain and what measures needed in order to realize fully the goals set by BRICS?
The BRICS must be open to others, better coordinate, better synergise their actions, democratise their institutions, to promote mineral beneficiation and foreign direct investment. More peacebuilding efforts and do more in creating a digital economy.
In addition, there will be areas where BRICS will compete, and this is healthy to any economy, but there must be more focus on what BRICS can do together to address abject poverty, growing unemployment and human rights abuses.
It is significant to note that there exist disparity and different strategic orientations of BRICS members. This disparity sometimes influences the implementation of decisions arrived at meetings. The book recommends to member countries to streamline individual economic situation in order to strengthen their cooperation.
It further encourages frequent interactions and exchange knowledge that is relevant to innovation and economic development. These are just part of the challenges and opportunities for this organisation.
What’s your assessment of BRICS contribution, particularly, to South Africa?
Starting as BRIC (Brazil, Russia, India and China) the partnership incorporated South Africa in 2010 to form the BRICS. As a partnership, first, as a political initiative it takes relatively long to transform into robust and ambitious economic challenges of the current world order. It takes time to evolve into an economic power bloc. There has been a tremendous achievement in this regard. Although some similarities in development exist, India portrays a slightly high prospect in innovation because of its information communication technology success, followed by Brazil and South Africa.
It is important to point that the size of the population is relevant to the level of development of these countries. In certain circumstances, demographics add to the challenges member countries face, especially in time of COVID-19.
One of the key factors is innovation strength in their system of higher education. South Africa needs the utilization of efficient local and global knowledge network in order to deliver the required innovation, and to sustain businesses and to boost economic development.
The major problem of South Africa is that it is not robust economically compared to its BRICS counterparts, and its economy has been performing badly since the 2008/2009 world’s economic crisis. This is why South Africa must be supported by other African countries in the context of BRICS. This is why the idea of an Africa-friendly BRICS Plus is campaigned for. BRICS have to deliver on capital-intensive infrastructure development, and the funding from the New Development Bank (BRICS) is critical in this regard.
With good policies in place, this will help the SADC region and the rest of Africa. It is great that the branch of this bank operates from Johannesburg in South Africa. This is an opportunity for major infrastructure projects to take place in Africa. All the sectors need to come together to solve problems like the COVID-19 pandemic that we are facing today. All the stakeholders, of course, have to work closely together. They need to cooperate with Europe, America and Australasia. The fact is that no one must be left behind.
In all these, can you assess the role of BRICS in Africa’s development?
BRICS has helped during the coronavirus crisis, in Africa. Now it needs to support FDI even more. Now it needs to support democracy and peacebuilding in Africa. Now it needs to prioritize exchange programs, education, trade and other viable areas of cooperation. I still hold to the fact that BRICS have to make collective efforts in coordinating with the rest of the world in addressing the coronavirus crisis.
Supporting African countries in debt relief efforts would help. A paradigm shift or change in that directions would mean Africa will have more liquidity to inject in economic development.
This interview was originally published in InDepthNews.
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.
