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IOL News
18-07-2025
- Business
- IOL News
BRICS media should leads the charge for an inclusive global narrative
General view during a plenary session of the BRICS summit in Rio de Janeiro, Brazil. With nearly half the world's population represented by BRICS nations, the influence our media outlets hold in shaping narratives, challenging bias, and offering alternative perspectives is vast. Image: Pablo Porciuncula / AFP AS leaders and media representatives from across the BRICS nations gathered in Rio de Janeiro for this year's BRICS Media Forum, we found ourselves at a critical juncture in global media and geopolitics. With the recent expansion of BRICS to include Indonesia and 10 new partner countries under the BRICS+ framework, the forum signalled a deepening of collaboration, not just among governments and economies, but also across our most vital communications platforms. The forum's guiding vision aligns with Brazil's broader BRICS+ priorities for 2025: strengthening inclusion, enhancing South-South cooperation, and reforming global governance. In this context, the media plays an indispensable role in promoting dialogue, building trust, and safeguarding truth. With nearly half the world's population represented by BRICS nations, the influence our media outlets hold in shaping narratives, challenging bias, and offering alternative perspectives is vast. The Rio forum offered us the opportunity to reaffirm our shared values and recalibrate our responsibilities, especially in a world increasingly threatened by disinformation, propaganda, and polarisation. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Advertisement Next Stay Close ✕ Three central themes guide the forum: Championing Justice – Media's role in shaping a new world order Strengthening Exchanges – Media's recipe for invigorating Africa's growth Fostering Innovation – Media's duty in driving green development Each of these topics presents a roadmap not only for BRICS cooperation but for how the global media landscape could evolve toward greater fairness, accuracy, and ethical responsibility. A key pillar of any functioning democracy, and indeed of sustainable development, is press freedom. Across the world, the media have come under pressure, whether through government censorship, corporate interference, or subtle forms of financial manipulation. As BRICS media leaders, we must be vigilant and vocal in defending the freedom of the press, both within our borders and abroad. Equally important is the fight against fake news and disinformation. One proposal worth serious consideration is the formation of a BRICS joint media task force dedicated to countering misinformation. Through shared technological tools, fact-checking systems, and journalist exchanges, we can collectively elevate the credibility and integrity of news disseminated within and beyond BRICS nations. Diversity and inclusion also deserve a central place in the BRICS media agenda. Our alliance encompasses a wide array of cultures, languages, and lived experiences. This diversity must not only be reflected in our coverage; it must be celebrated as a strategic advantage. Through collaborative reporting, editorial partnerships, and cultural exchanges, we can resist the homogenisation of media that so often accompanies Western dominance in global news flow. Technological innovation is another vital area. The digital age has brought unprecedented challenges and opportunities. As BRICS nations, we must invest in innovation and digital inclusion, especially in underserved regions, so that the full benefits of new media platforms are available to all. From combating digital surveillance to embracing AI responsibly, media innovation must be shaped by ethical and human-centred values. Beyond media collaboration itself, the BRICS bloc also has a historic opportunity to challenge structural inequalities in global governance. One bold proposal is the establishment of a BRICS Ratings Agency, a counterbalance to Western-dominated financial rating institutions that often fail to account for the developmental realities of the Global South. A BRICS-led agency could offer more nuanced, fair, and contextually appropriate assessments, especially for public enterprises and state-led development projects. Similarly, the idea of a common BRICS currency continues to gain traction. While implementation would be complex and gradual, such a currency could help member states reduce dependency on the US dollar, stabilise trade relations, and enhance economic sovereignty. As we look to the future, institutional reforms must remain at the heart of the BRICS project. A permanent secretariat or coordinating body for BRICS media, for example, would help ensure continuity, shared standards, and deeper collaboration. It would also safeguard our momentum beyond rotating presidencies and changing political landscapes. * Adri Senekal de Wet is the editor-in-chief of Independent Media. Get the real story on the go: Follow the Sunday Independent on WhatsApp.
IOL News
14-07-2025
- Business
- IOL News
Trump's tariffs on BRICS countries reflect deeper fears of Chinese dominance
Trump last week announced that he was planning to slap a 10% tariff on imports from the BRICS economic group of emerging-market nations, including Brazil, Russia, India and China. The expanded BRICS+ now covers 43% of the world's population, 32% of the world's land area, around 35% of global GDP and 20% of world exports. Image: Pablo Porciuncula / AFP Investors in South Africa have cautioned that the US President Donald Trump was using tariffs on BRICS countries as a red herring to stifle the perceived dominance of China over the United States. Trump last week announced that he was planning to slap a 10% tariff on imports from the BRICS economic group of emerging-market nations, including Brazil, Russia, India and China, along with a 50% duty on all copper imports and a possible 200% tax on pharmaceuticals. The expanded BRICS+ now covers 43% of the world's population, 32% of the world's land area, around 35% of global GDP and 20% of world exports. Trump explained the BRICS tariff threat was being driven by a desire to protect the US dollar from potential threats to its dominance as the BRICS bloc looks to unseat the greenback as the world's reserve currency. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading Commentators indicate that the dynamics of global power shifts are increasingly influenced by economic alliances, and Trump's scepticism about BRICS appears to stem from a fear that any concerted effort to empower China could ultimately threaten the United States' position at the pinnacle of global affairs. The sentiment is that Trump perceives the BRICS coalition not merely as a trade agreement but as a strategic challenge to the supremacy of the US dollar. Deon Gouws, chief investment officer at wealth management firm Credo, said Friday he did not think that Trump cared much about BRICS, but he does care a lot about China. Gouws said Trump's focus is squarely on China as the only nation that poses a substantial challenge to the United States' longstanding supremacy with its impressive economic growth and innovative prowess. 'For perspective, the GDP of the five founding members of BRICS members combined approximates that of the USA; having said that, China represents more than two thirds of that number on its own,' Gouws said. 'In a nutshell, therefore, Trump is pretty scared of China, for good reason (large economy, productive workforce, strong growth, lots of adaptability and innovation) and therefore he also takes a dim view of any country that might be seen to be assisting China in growing even powerful.' In the broader context, this sentiment reflects a growing unease in Western political circles—one that transcends individual leaders and speaks to an emerging narrative about the future balance of power. Luncedo Mtwentwe, managing director of Vantage Advisory, concurred with this sentiment, saying that Trump believes that the BRICS bloc was set up to undermine the US dollar so that it no longer serves as the world's standard currency, hence he wants to destabilise it. Mtwentwe said Trump sees the US was at risk of losing its position as the global trade standard if the dollar was weakened as other countries would then be able to trade on their own without using the greenback. 'With China and Russia being part of that, countries he doesn't favour, he knows that the moment you remove the dollar as the standard, the Chinese can take over. That's one of the key reasons he's opposed to BRICS. Therefore, we must expect more additional tariffs that might be coming into BRICS countries,' Mtwentwe said. 'So the question is, will countries take the risk and accept trade losses in the name of fighting the US? I don't think most of these countries are willing to take that risk. The impact would be too severe. 'If they retaliate in the short term, things like inflation and unemployment can skyrocket in these countries, due to the fact that they are fighting the world's number one economy in terms of trade. But in the long term, if they take the risk, I'm sure these countries can reap the rewards.' Mtwentwe said BRICS nations have to unite more and forge intentional trade relations that will make these countries more competitive. 'It's time to focus on building strong local supply chains, increasing trade through AfCFTA, and establishing South Africa as a manufacturing and innovation hub for the entire continent. And let's not forget the BRICS nations who offer a massive opportunity for us to establish more competitive trade deals and diversify our reach,' he said. BUSINESS REPORT
IOL News
07-07-2025
- Business
- IOL News
From St. Petersburg to Soweto: A BRICS opportunity to modernise South Africa's water services
General view during a plenary session of the BRICS summit in Rio de Janeiro, Brazil. Image: Pablo Porciuncula/ AFP By Ayanda Holo, President of TV BRICS AFRICA Just weeks after Deputy President Paul Mashatile stood before global investors at the St. Petersburg International Economic Forum and affirmed that "South Africa and Russia will significantly deepen trade relations as BRICS partners," the echoes of that commitment are already rippling through our economy, not as platitudes, but as pipelines of opportunity. From July 8 to 10, Johannesburg's Gallagher Convention Centre becomes the stage for a quiet revolution in South-South cooperation. A powerful delegation of industrial innovators from St. Petersburg, Russia's gateway to the world, will participate in IFAT Africa 2025, the continent's most significant environmental technology exhibition. These firms bring with them more than technological marvels. They provide evidence that the BRICS economic narrative is not abstract, but actionable, visible, and mutually rewarding. At the heart of this participation lies an important, albeit underreported, diplomatic milestone: the sister-city relationship between St. Petersburg and Johannesburg, established in 2001. This IFAT is more than symbolism; it is a commercial channel waiting to be scaled. The IFAT Africa exhibition is the channel in motion. St. Petersburg companies attending the event — including Vodokanal, TFBE, NAECO, and EXIMO — are global leaders in water purification, industrial wastewater treatment, and urban water system efficiency. The presence of Vodokanal, which manages one of the largest water utilities in Europe, is especially noteworthy for municipalities across South Africa that are grappling with ageing infrastructure, load-shedding-related pump failures, and ballooning urban populations. South African enterprises, utilities, and government departments must view this moment not just as another exhibition, but as an open invitation to co-develop, co-finance, and co-own solutions for our most pressing environmental and economic challenges. It is no secret that water is becoming one of the scarcest and most politicised resources in the 21st century. What is less often said is that water management is also one of the fastest-growing economic sectors, globally projected to exceed $1 trillion by 2030. For South African businesses, especially in Gauteng, Limpopo, and the Eastern Cape, investing in this sector is not a side project; it is a national strategy. The IFAT Africa schedule reads like a masterclass in applied BRICS cooperation. At 12:30 on July 8, the official opening of the St. Petersburg stand (Hall 3, Stand B035) will set the tone. Minutes later, the "South Africa – Saint Petersburg Economic Cooperation Dialogue" roundtable will gather key stakeholders, including the Johannesburg Chamber of Commerce and Industry, Rand Water, the Water Research Commission, and Russia's Trade Mission. And at 15:15, a cutting-edge panel will dissect new technologies in water treatment and sludge disposal, real solutions for real problems. But beyond the booths and name badges, the subtext is clear: Russia is not simply seeking to export products; it is looking to localise, partner, and innovate together with African counterparts. This model is the cornerstone of BRICS industrial policy, offering a direct contrast to the extractive models that historically defined trade between Africa and the West. Indeed, as South Africa eyes industrial diversification and seeks to build sustainable cities, now is the time for our CEOs, utility executives, and provincial heads to walk the talk. IFAT Africa should not be a passive exhibition tour. It should be a deal-making arena, a site of memorandum signings, pilot project launches, and matchmaking for public-private partnerships.
