Media Wire Express Correspondent
The 16th annual BRICS Summit, hosted in Kazan, Russia, from October 22 to 24, highlighted a growing commitment to multilateralism under the theme “Strengthening Multilateralism for Just Global Development and Security.”
Attended by leaders from 36 countries and UN Secretary-General António Guterres, the summit marked a significant moment for the Global South, particularly for Africa, as the continent expands its involvement in the bloc.
Historically, South Africa has been the only African nation in BRICS. However, the inclusion of Egypt and Ethiopia in 2023 and their debut at this year’s summit signifies a shift. The alliance also announced 13 new partner nations, including Algeria, Nigeria, and Uganda, cementing Africa’s growing influence within BRICS.
This rising interest underscores Africa’s pursuit of a multipolar world order, creating opportunities to reduce reliance on Western powers and forge partnerships with emerging economies.
Economic Implications: BRICS as Africa’s Ally
Amid economic exploitation and strict conditions from Western-led institutions like the IMF and World Bank, African nations are turning to BRICS for alternatives. The New Development Bank (NDB), a financial arm of BRICS, offers options to lessen dependence on the U.S. dollar and avoid crippling debt cycles.
Countries under military juntas, often barred from IMF and World Bank funding, see BRICS as a viable partner. Yet, members like Egypt and Ethiopia remain reliant on IMF bailouts, indicating that reducing dollar dependence is a long-term goal.
Despite these challenges, African leaders are optimistic about NDB’s flexible financing model and initiatives like local currency trade promoted by India and China. These measures aim to shield African economies from dollar volatility and expand their trade potential.
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Security Cooperation and Regional Stability
BRICS also presents an opportunity to address Africa’s security concerns. The bloc has supported initiatives by the African Union (AU) and regional organisations, such as the Southern African Development Community (SADC), to counter threats in regions like the Central African Republic and Mozambique.
By endorsing African-led solutions, BRICS encourages regional stability and provides resources for peacebuilding efforts. This support aligns with Africa’s strategy of multi-alignment while navigating global geopolitical shifts.
Challenges to Cohesion
Africa’s growing participation in BRICS is not without obstacles. Tensions between member states, such as Egypt and Ethiopia, have raised concerns about internal cohesion. Disputes over UN Security Council reforms caused disruptions during a BRICS foreign ministers’ meeting in September 2024, highlighting potential challenges within the bloc.
Agricultural Investment: The BRICS Grain Exchange
Amid food insecurity and climate change, BRICS has proposed a grain exchange to stabilise prices and diversify Africa’s export portfolio. This initiative could attract much-needed agricultural investment and reduce price volatility, benefiting producers and consumers alike.
The Road Ahead
BRICS represents a platform for Africa to redefine its global role. Initiatives such as the BRICS Youth Summit and inter-parliamentary cooperation offer avenues for political and economic engagement.
However, African nations must address internal instabilities and align their policies to maximise the benefits of BRICS membership. Similarly, the bloc’s existing members must prioritise cohesion and strategic planning over rapid expansion.
As Africa deepens its involvement with BRICS, its success will depend on navigating these challenges and leveraging the bloc’s resources to drive sustainable development.
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