By Josef Kefas Sheehama
The Russia-Africa Summit took place from 27-28 July with the theme “For peace, security, and development,” attended by 17 Heads of State and Government, along with representatives from 49 of the 54 African nations. WION Live TV News reported that an allocation of 1.2 billion rubles has been made to strengthen African healthcare systems.
In 2023, South Africa is chairing the BRICS group under the theme: “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism.” The 15th BRICS Summit will be hosted by South Africa from 22 to 24 August 2023, with leaders from Brazil, Russia, India, and China attending. BRICS brings together 3.2 billion people, making it one of the largest blocs by population. South Africa aims to foster a partnership between BRICS and Africa to facilitate increased trade, investment, and infrastructure development, focusing on the African Continental Free Trade Area (AfCFTA) and infrastructure. Another priority is strengthening multilateralism and advocating for meaningful women’s participation in peace processes. The BRICS countries aim to reform the United Nations, including the UN Security Council, to better represent African and Global South countries’ interests.
The African Continental Free Trade Area (AfCFTA) is driving Africa’s integration and growth, making it the world’s largest single market. African countries are enacting reforms to improve the business environment and attract private investment, enhancing competitiveness and integration into global supply chains.
Trade relations between Russia and Namibia were impacted by geopolitical tension, resulting in a 41% reduction in 2023. Namibia aims to strengthen bilateral relations in sectors such as agriculture, mining, and healthcare.
The twin summits seek to shift away from reliance on the US dollar and explore the possibility of a common single currency based on a basket of currencies from BRICS countries. A BRICS Currency could challenge the dollar’s dominance and has been advocated by Russia and China.
The summits represent a crucial step towards African integration, promoting economic and political cooperation. Deeper engagement strengthens bilateral trade and investment, fostering a constructive environment for prosperity in Africa and global cooperation.
In conclusion, these summits require energy, patience, and political leadership to achieve their objectives of enhancing African competitiveness and prosperity. African integration is essential for better global cooperation and balanced development. Efforts to foster this journey should be intensified for long-term success.
