Africa is eagerly anticipating substantial progress towards the establishment of a new multipolar global order as the upcoming BRICS summit is set to take place in South Africa. Xavier Messe A Tiati, the Director-General of the Cameroon News Agency (CNA), emphasized this sentiment in a conversation with TASS.
Messe highlighted that the African continent holds heightened expectations with regard to the creation of a multipolar world, largely driven by the statements put forth by the BRICS nations themselves.
"A potentially transformative initial stride could involve the establishment of a unified BRICS currency, effectively liberating a substantial portion of the globe from the dominance of the US dollar. The current scenario, wherein a single nation issues an internationally recognized currency—namely the US dollar—carries significant perils for the stability of global financial transactions. This situation empowers the US to exert control and leverage over countries that diverge from its ideology, often resorting to imposing sanctions as a punitive measure. Consequently, sovereign nations find themselves occasionally hampered from accessing their dollar-denominated financial assets at their discretion."
Landmark event
"The forthcoming BRICS summit, scheduled to take place in South Africa from August 22 to 24, 2023, holds profound significance," - remarked the head of the news agency. - "The host nation has designated it as an 'enlargement' summit, prompting [South African President] Cyril Ramaphosa to extend invitations to leaders from across the African continent, as well as select Asian heads of state. The event anticipates the participation of a remarkable 60 delegations on South African soil. This expansion endeavor also entails the incorporation of five new member states, namely Argentina, Egypt, Indonesia, the UAE, and Saudi Arabia. Presently, South Africa stands as the sole African representative within the BRICS consortium. However, Egypt's potential membership is poised for consideration during this significant summit. Furthermore, Ethiopia and Algeria remain in anticipation of receiving approval for their entry into the association."
According to Xavier Messe a Tiati, both Senegal and Kenya "have indicated their interest in joining the association."
"Regarding the Francophone nations of Africa, some might have indeed experienced pressure from former colonial powers, leading to a delay in their application and even abstention from attending the South Africa summit. An African corporate executive confirmed to me that 'African countries now perceive BRICS as a promising avenue'. The upcoming summit is set to coincide with a significant business forum, underscoring the convergence of economic and diplomatic endeavors. Within the BRICS framework, there is a growing voluntary inclination to establish a hub for diversified transactions and potential technology sharing. These exchanges could gain traction and streamline through the financial settlement mechanism presently under development by BRICS experts," the CNA director-general shared.
Prospects for BRICS New Development Bank
"The BRICS New Development Bank (NDB), under the leadership of Dilma Rousseff, has faced a barrage of criticisms," - emphasized the head of the news agency. - "A few months back, experts from the NDB embarked on a fact-finding mission to the Central African Republic (CAR), exploring the feasibility of establishing a bank branch in this economically challenged nation. The African populace greeted this initiative with enthusiasm, recognizing the NDB's distinctive operational approach, which stands in stark contrast to their accustomed norms. This approach is centered on bridging the gap between the bank and its clientele, with a keen awareness of local realities. As the upcoming BRICS Summit in South Africa draws near, Africans hold high hopes for substantial advancements in this direction, along with the NDB's alignment with the BRICS Development Action Plan."
Scheduled to take place from August 22 to 24, the Johannesburg summit is poised to be one of the largest gatherings of heads of state and government from the Global South in recent years. The invitation list includes leaders from 54 African countries. Russian President Vladimir Putin will participate in the summit via video link, while Russian Foreign Minister Sergey Lavrov will attend the event in person.
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Based on materials from TASS