East vs. West – Opportunities and Threats in Africa under a New World Order.
With the BRICS bloc expanding its membership from early 2024 to include six new countries, initiative could result in very positive driver of developing region’s growth and industrialisation. Two of the six countries are African (Ethiopia and Egypt), adding approximately 230 million people under its remit. This will increase the broader group to 42% of the world’s population and 36% of global GDP.
In addition, the expanded BRICS will now control more than 70% of the world’s rare earths, 75% of manganese and 50% of the world’s Nickel reserves.
This is a major development in geopolitics and economics with the Global South potentially creating a new world order to counter the strong influence from the West. This could open up new opportunities for financing, trading an investment for developing regions like Africa. The region has faced considerable challenges securing capital at scale from Development Finance Institutions based in Europe and North America. This is especially true for hydrocarbon projects required to support Africa’s industrialisation drive.
Although it is still uncertain how the expanded group will function, many opportunities exist to support each other’s development. Apart from additional financing and increased trade, other options such as a joint trading currency to reduce exchange rate volatility, enhanced monetary sovereignty, etc. are a new reality.
Join us for an engaging and thought-provoking Think Tank on “Opportunities and Threats in Africa under a New World Order” on November 16th at 15h00 SAST as our distinguished panellists Dzingira, Nicholas Matenga (CEO: Zamlim Investments), Hendrik Malan (Partner & Africa CEO: Frost & Sullivan Africa) and Craig Parker (Research Director: Frost & Sullivan Africa) share their expertise and insights.
They will address pressing questions such as:
• What are the key drivers of Africa’s shifting global interests between the East and the West?
• How are China and Russia’s increasing presence and investment in Africa impacting the continent’s economic landscape?
• How are African countries leveraging their strategic positioning to harness opportunities and mitigate threats in the new world order?
Sign up here and join the conversation Thursday 16 November at 15h00 SAST: https://frost.ly/9e6