World
No Plans to Expand BRICS Membership—Putin
**As Leaders Applaud Performance
By Kester Kenn Klomegah
Leaders of BRICS (Brazil, Russia, India, China, Russia, India and South Africa) have expressed full-fledged satisfaction of the Group’s performance using its current format that includes the Big Five, BRICS Plus and Outreach, and consequently have no plans to increase its numerical strength in the near future.
Russian leader, Mr Vladimir Putin, made the Group’s position known during his final media conference held at the 2018 BRICS summit in Johannesburg, South Africa.
He highlighted that “BRICS is an organic association of countries that have many things in common: they have many shared interests and common approaches to addressing challenges that are relevant to all of humanity, including Russia. This is one of its key advantages, and today, many countries are showing an interest in BRICS.”
“Concerning the group’s expansion, BRICS Plus and Outreach format have already been created to this effect. For now, we agreed to rely on these formats for expanding our reach and drawing into our orbit countries that share the underlying principles and values of BRICS,” the President said.
While many viewed the existing formats of interaction effective, Mr Putin explained that any questions regarding BRICS enlargement in future would definitely need additional thorough discussions and final consideration.
“But so far, we have no plans to expand BRICS membership, since the existing formats have proven effective. As for discussions of issues we intend to address, these are issues relevant for a vast majority of countries and economies around the world. The sky is the limit for us,” the Russian leader explained.
“They are willing to cooperate with other countries and do not rule out BRICS expansion in the future but they believe that it requires additional analysis. This does not mean that the organization is closed, that its doors are closed. No, it is just that this issue should be properly analysed. Otherwise, the organization is open to anyone,” Putin stressed at the media conference.
Historically, the first meeting of the Group began in St Petersburg in 2005. It was called RIC, which stood for Russia, India and China. Brazil and subsequently South Africa joined later, which is why now it is referred to as BRICS.
Initially, the goals and tasks were very modest, primarily focus on the economy and the coordination of efforts toward attaining more ambitious goals. As more members joined the Group, it developed into a full-scale organisation with new spheres of activity and broader common interests, according to Mr Putin.
Experts have expressed different views in interviews with me.
Nandan Unnikrishnan, Research Fellow at the Observer Research Foundation, India: There is nothing wrong in trying to expand the BRICS if the new countries meet the criteria of what BRICS represents, their entry adds to the cohesion of the grouping.
However, it appears that at this stage of the evolution of BRICS the need of the hour is not expansion, but consolidation, given developments in the world as well as in each of the BRICS countries.
Secondly, BRICS is quite clear about the Africa’s developmental needs. The question is how to mobilise the necessary resources to propel Africa’s development over and above their bilateral commitments to African countries.
All the BRICS countries are facing economic challenges that they need to address urgently. But in the long run, BRICS is keenly aware of the importance of contributing towards Africa’s development agenda.
Charles Robertson, Chief Economist at Renaissance Capital, argued thus: The BRICS was just a concept from Goldman with little intellectual coherence beyond the fact that 1) all four of the original BRIC countries had a-historically low GDP and were likely to rebound in size, 2) they were populous, 3) there were among them two commodity importers and two commodity exporters among them. South Africa was a late minor addition to the group, to add a “bridgehead to Africa” angle.
“So, it could expand because the BRICS are under-represented in the global financial architecture. Europe and the US dominate institutions like the IMF and the World Bank, and to some extent many others,” in his opinion.
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.”
Robertson, however, questioned whether “a broader BRICS + body would offer tariff-free access to their markets as the EU and the US can? I doubt that. Can they offer financing via a BRICS bank. Perhaps!”
“Now, is a very good time to show that BRICS members and relations between them are an alternative to the format existing in the West,” Executive Director of the Russian National Committee for BRICS Research, Professor Georgy Toloraya, told the Kommersant – a Russian daily business newspaper, adding that “BRICS favors order, compliance with agreements and development.”
Plans are in store to expand the Group, so the leaders of Argentina, Turkey, Indonesia and some African countries invited to the summit.
According to Toloraya, India is currently opposed to expanding BRICS fearing that new members will support China. On the other hand, Moscow argues that “the entrance ticket” to the group is independence and sovereignty, and under no circumstance, potential candidates be called China’s satellites.
There are not so many countries like that – they would include Indonesia, Mexico, Turkey, Egypt and Iran… But then, there are certain political requirements for new members – including recognition of BRICS values and core foreign policy principles, he said.
The BRICS member countries (Brazil, Russia, India, China and South Africa) collectively represent about 26 percent of the world’s geographic area and are home to 2.88 billion people, about 42 percent of the world’s population.
Kester Kenn Klomegah frequently writes about Russia, Africa and BRICS.
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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