World
Why Egypt, Ethiopia’s Inclusion in BRICS is Strategic—Arnold Boateng
Kestér Kenn Klomegâh
South Africa hosted the 15th BRICS summit from August 22 to 24. The BRICS (Brazil, Russia, India, China and South Africa) members have thoroughly discussed a wide range of significant issues, including the bloc’s expansion, common currency, investment and trade, the bloc’s strategy and geo-policy. We already know that BRICS members consistently champion the rights and interests of Africa and also play an increasing role and influence in the global governance system – particularly international financial and economic organisations.
Holding the 15th summit, especially this crucial time, within the context of the emerging multipolar world, BRICS discussed steps forward for deepening interaction in the sphere of trade and investment with the nations of the Global South, including Africa. In fact, the BRICS-Africa Outreach and BRICS Plus Dialogue in Johannesburg on August 24 was considered an important component event of the summit.
On the sidelines of the BRICS summit, Kestér Kenn Klomegâh had the chance to talk with Professor Arnold Boateng about a number of questions connecting BRICS and Africa. Professor Arnold Boateng is an Entrepreneur, Consultant, Speaker and Author. [Books: Dreams of Our Youth: The African Youth Question: Ananse Verses: Foundations for Life… (Available from Amazon & Kindle Store]. Here are the interview excerpts:
In your view, how do you assess the 15th BRICS summit held here in Johannesburg, South Africa
The summit was a huge success. It is living up to the hype and expectations prior to the summit. Invited guests showed up and gave a thumbs-up to the agenda. Two critical expectations were the admission of new members and the issue of BRICS currency for trading. The organisation of the summit went according to script. A notable hitch was the absence of President Vladimir Putin, but his Foreign Affairs Minister, Sergey Lavrov, is a qualified representative.
And also, how would you evaluate, within the context of an emerging new world, Egypt and Ethiopia as new BRICS members
Egypt is the largest economy in North Africa, with a GDP of $435 billion and a population of 112 million. Its economic growth is around 3.7% for this year. According to the IMF, it is expected to grow at 5% in 2024. Ethiopia, on the other hand, with its population of 120 million and a GDP of $305 billion, brings good matrices by any measure to the table. Both countries have a young population and a strong middle class. Their political environment is relatively stable for strong economic development.
With a bit of emphasis on BRICS supporting Africa’s development and … to undermine Western domination and influence, what could be Egypt and Ethiopia’s role in these issues across Africa
As I see it, BRICS may build these two countries into economic successes and use them as carrots to rope in other African nations. As you indicated, the era of photos and handshakes to get Africa dancing is over. Even the era of infrastructure funding is ending to give way to industrial base and manufacturing funding.
BRICS sees it clearly as the most secure way to go. Egypt appeals to the North African Islamic states, whilst Ethiopia appeals to the Horn of Africa and part of the East. With both nations developing economically, their economic successes would create synergies that overflow into surrounding economies. They would also be the trump card BRICS would need to demonstrate to Africa and other regions that it offers a better option than the West’s exploitative programmes. So far, BRICS support of Africa’s development is largely words since we cannot equate China to BRICS. Even if we could, China’s infrastructure funds went to corrupt governments.
Next, what’s your take on Vladimir Putin’s proposal that BRICS becomes a trading bloc? What are the obvious implications, particularly for Africa
Vladimir Putin’s call is the best and most practical statement to come from BRICS so far. He seems to have identified the pulse of Africa and our teaming youth. Africa wants more trade and less and less aid. Wealth and economic prosperity is what Africa needs. Africa needs investment in the continent and cross-border trade. Once BRICS began to function as a trading block with fair terms of trade, Africa may apply to join the block. If BRICS positions itself as a trading block with effective and open trade rules, it may very supplant WTO in a generation. Africa is tired of WTO, which favours North Atlantic Nations. BRICS has a population of about 40%, mineral resources, and technological know-how to thrive and compete. Even trade within the BRICS block would be enough for African nations to realise their respective dreams. This is what Africa has been waiting for a trading block with raw reserves, a youthful population underpinned by fair trade, open borders and honest trading partners.
How feasible that can be and what peculiar challenges it poses for Africa and for the African Continental Free Trade Area (AfCFTA) under the auspices of the African Union (AU)
Its applicability lies in the guidelines for joining the BRICS; the African Union adopting BRICS policy which is skewed towards trade. Africa’s trade policies are fragmented. That is what AfCFTA seeks to overcome and usher in an era of true free trade. The lukewarm attitude from countries, competing trade policies, and internal political situations pose huge challenges. Furthermore, road and logistical infrastructure are challenges even if Africa could overcome political and technical regimes of taxes, cross-border issues and intractable issues like corruption. Thus, nationalistic tendencies are key challenges to overcome. BRICS may have to impose its own trading protocols as an assistance to the African Union (AU) and AfCFTA to help them steer the task of streamlining trading rules. BRICS may also consider harmonising trade rules with AfCFTA. The African Union is now viewed with mistrust in certain capitals. African leaders see it as an attempt to a power grab. It must focus on coordination and getting African leaders to support AfCFTA to achieve its mandate.
By Aduragbemi Omiyale
About $32 million has been put into the African Trade and Investment Development Insurance (ATIDI) by Germany through KfW Development Bank.
This funding package allows the European nation to become a D2-class shareholder of ATIDI, a status dedicated to Export Credit Agencies and Non-African Public Entities.
Of this amount, $18.4 million is funded from BMZ budget resources, with the remaining $13.6 million coming from KfW’s own resources. As such, it will assume the obligations and benefits related to its new shareholding status, including representation in ATIDI Governance and decision-making structures, and equally participating towards improving German trade and investments in Africa in alignment with the G20 Compact with Africa (CwA 2.0).
KfW’s subscription in ATIDI is the culmination of a dynamic partnership between the two organisations.
On behalf of the German Federal Ministry of Economic Cooperation and Development (BMZ), KfW has supported several countries’ membership in ATIDI with over $100 million in financing, thus strengthening the organisation’s capital base and expanding its ability to mitigate risk and mobilise private investment across African markets.
The new equity participation adds a direct shareholding to this long‑standing cooperation.
KfW is the 13th Institutional shareholder in Africa’s premier development insurer, further strengthening the organisation’s capital base and its capacity to support trade and investment across the continent.
At the official signing of the subscription agreement in Nairobi, Kenya, a member of the executive board of KfW, Ms Christiane Laibach, said, “Our membership is executed on behalf of the Federal Republic of Germany. It is only the latest culmination of a successful cooperation that has enabled the ATIDI membership of several African states and has created innovative insurance solutions to attract foreign investment on the continent.”
The chief executive of ATIDI, Mr Manuel Moses, said, “This milestone is iconic in many ways. First, it elevates our already dynamic bond with KfW and creates more opportunities for German investors looking to engage in Africa. It is also a recognition of ATIDI’s earned status as Africa’s top development insurer and the acknowledgement of the soundness of our business. Last, it underscores the power of partnerships in a global context increasingly marked by volatility and uncertainty. ATIDI will spare no effort to make this partnership a successful one.”
Established in 1948, KfW is Germany’s state-owned promotional and development bank and a key implementing partner of BMZ in international financial cooperation. Its shareholding in ATIDI is expected to stimulate up to $500 million in trade and investment between German companies and African markets.
Over the past 25 years, ATIDI has grown to become Africa’s premier provider of development insurance and one of its highest-rated financial organisations. It leverages its partnerships with leading multilaterals and regional bodies, including the African Union, the World Bank Group, COMESA, the European Investment Bank (EIB), and the Norwegian Agency for Development Cooperation (NORAD), to offer innovative credit and investment insurance products that foster sustainable and transformational growth across the continent.
By Modupe Gbadeyanka
The Netherlands’ largest energy provider, Essent, has cut the technology costs of its contact centre infrastructure by half.
The organisation, which serves 2.5 million customers, recorded zero critical incidents post-migration and improved agent workplace satisfaction by 36 per cent.
The migration was delivered in partnership with AI-first customer experience transformation specialists, Sabio Group, and was completed in under 12 weeks for an operation spanning over 1,000 agents across two locations.
Agents were forced to juggle multiple disconnected screens simultaneously — a workflow that was as inefficient as it was stressful.
“Our agents were constantly working with different screens — multiple chat instances open at once, multiple agent desktop instances. It was messy, and in some cases, quite stressful,” SAFe Product Manager for Customer Interaction, Omnichannel and Digital Transformation at Essent, Michiel Kouijzer, stated.
“A lot of colleagues were saying I was mad for even suggesting this approach. It kind of feels like a victory on a personal level that it did work out. You just have to be a little ambitious — and have the right expert partner who can make it work,” Kouijzer added.
With stable cloud infrastructure now firmly in place, Essent is turning its attention to the capabilities that were impossible in its legacy environment: AI-powered call summarisation, agentic customer self-service, and next-generation workforce optimisation.
Rather than a reckless ‘big bang’ cutover that could have affected service to millions of households, Sabio engineered a phased migration strategy — beginning with Essent’s SME segment to validate technical readiness before scaling to the full enterprise operation.
“This project showcases Sabio’s unique position in the contact centre technology landscape. We’re not just moving Essent to the cloud — we’re establishing a foundation for continuous improvement in their customer experience delivery,” the Country Manager for Sabio Group Benelux, Wouter Bakker, commented.
By Kestér Kenn Klomegâh
On April 11, the presentation of the book “Africa: a new market for Russian business” took place, which aroused lively diverse interests among business representatives, entrepreneurs and employees of federal structures of Russia. The event was dedicated to discussing the prospects of Russian companies entering the African market and became a platform for the exchange of views and experiences.
Participating guests, packed in the small hall, included:
– representatives of business circles,
– entrepreneurs interested in new directions of development,
– employees of federal agencies curating foreign economic activity.
The presentation was held in a constructive and friendly atmosphere. The author of the book, Serge Fokas Odunlami, detailed the key ideas and conclusions presented in the publication. Particular attention was paid to the practical aspects of operating in the African market, as well as the analysis of opportunities and risks for Russian companies.
During the lively discussion, participants asked questions, shared their experiences and made suggestions for developing cooperation with African countries. This format allowed not only to get acquainted with the content of the book, but also to discuss topical issues of expanding business relations.
Meaning of the book: The publication, “Africa: a new market for Russian business” offers readers not only analytical, but also practical recommendations on investment and market trends, and how to enter the African market. The book will be a useful tool for those considering Africa as a promising destination for investment and business development.
The presentation of the book became a significant event for the Russian business community interested in expanding cooperation with Africa. Serge Fokas Odunlami introduced the participants to the new edition, which is a comprehensive business guide that gives an impetus for dialogue and implementation of joint entrepreneurial projects and corporate initiatives across Africa.
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