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For Africa, BRICS is not just a partnership but an opportunity that must be seized now
COMMENT | IQBAL SURVE & SESONA MDLOKOVANA | As BRICS convened its pivotal summit, in Kazan, Russia, Africa stands on the brink of an unparalleled opportunity. This meeting is not just a gathering of global powers; it is a moment of profound importance for Africa, offering the continent a unique platform to deepen its engagement with BRICS and strengthen its role in the global landscape.
Africa is at a critical juncture where economic potential and strategic partnerships can redefine its future. The expanding influence of BRICS offers Africa the chance to diversify its international relationships. Countries such as Ethiopia, one of Africa’s fastest-growing economies, and Egypt, a strategic cornerstone in North Africa, are now part of BRICS. Their inclusion reinforces Africa’s capacity to assert its voice in global trade and negotiations.
The recent addition of Saudi Arabia and the UAE to BRICS introduces substantial financial resources and opens new doors for African investment in sectors like energy, infrastructure, and technology. These Gulf nations, eager to diversify their economies, view Africa as a key destination for growth, particularly in agriculture, manufacturing, and renewable energy—industries vital for Africa’s future development.
Why BRICS Represents a Vital Opportunity for Africa
BRICS provides Africa with a powerful alternative—a path to forge economic alliances that transcend traditional reliance on Western markets. By increasing trade and investment with BRICS nations, African countries can reduce their dependence on singular markets and strengthen economic resilience. This diversification is essential for creating more stable and sustainable economies across the continent.
One of the most promising initiatives within BRICS is the New Development Bank (NDB), which offers much-needed infrastructure financing. Many African nations face infrastructure deficits that hinder growth. The NDB provides an alternative to institutions like the IMF and World Bank, often associated with stringent conditions that have disadvantaged Africa. Through the NDB, African countries can access financing to drive transformative infrastructure development and close the gaps that slow progress.
Additionally, BRICS nations, particularly China and India, are leaders in technological innovation. Africa’s participation in BRICS opens doors to partnerships that can propel the continent forward in areas like digital infrastructure, education, and technology-driven industries. These sectors are critical for Africa’s future, as they offer pathways for growth in the global digital economy.
Africa is also home to vast natural resources, and BRICS countries are key players in global energy markets. This creates opportunities for mutually beneficial collaborations in energy production and sustainable resource management. Such partnerships will enable African nations to leverage their resources effectively, contributing to long-term economic stability across the continent.
A Counterbalance to Western Dominance
BRICS offers Africa a counterbalance to Western-dominated global institutions such as the IMF, World Bank, and G7. With the inclusion of regional powerhouses like Egypt and Ethiopia, Africa’s position within BRICS enhances its bargaining power in international forums. African countries can push for reforms in global governance, ensuring their voices are heard on critical issues such as trade policies, climate change, and peacekeeping.
As the global political and economic landscape shifts, Africa’s active participation in BRICS provides a vital alternative to the traditional dependence on Western institutions. BRICS is a platform for South-South cooperation, aligning with Africa’s broader strategic interests—interests that include advocating for a multipolar world and ensuring that African voices are represented in global decision-making processes.
Shaping Africa’s future
The BRICS summit in Kazan arrives at a time of significant global transformation. For Africa, this is not only an opportunity for economic benefit; it is a chance to influence the future of global governance and power dynamics. As the world moves away from a unipolar model dominated by Western powers, Africa’s engagement with BRICS helps rebalance global power structures.
This summit offered African leaders a crucial moment to advocate for the continent’s interests and secure partnerships that will drive sustainable development for years to come. The expansion of BRICS signals a new era—an era where Africa plays a defining role on the global stage, shaping its destiny on its own terms.
For Africa, BRICS is not just a partnership—it is a transformative opportunity. The time to seize that opportunity is now.
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Dr. Iqbal Survé, is Past Chair of the BRICS Business Council & Co-Chair of the BRICS Media Forum and BRNN and Sesona Mdlokovana, is Associate, BRICS + Consulting Group.
