With BRICS Development, Times When West Dictated Terms Worldwide Gone, South African Prince Says
18:02 25.08.2023 (Updated: 18:10 25.08.2023)
© Sputnik
Subscribe
Exclusive
Prince Siphiwe Dhlomo, Prince of the AbaThembu tribe, South African entrepreneur, founder of Hala Group made the remarks on the sidelines of the 15th BRICS Summit held on 22-24 August in South Africa's Johannesburg. He commented on the bloc's expansion, as well as on the prospects of its further development.
The times when the Western nations dictated terms globally have gone, an overall attitude towards the BRICS members is starting to change positively, Prince Siphiwe Dhlomo, Prince of the AbaThembu tribe, South African entrepreneur, founder of Hala Group, told Sputnik Africa.
"I think the paradigm will start now changing towards the BRICS countries. Gone are the days where the Africa and part of the countries that are not part of G7 or G20. And it's about time that we will now be seen as equals. […] The countries in the west were using their powers to make sure that they push their own agenda. And I think it's the beginning of the end for that."
The prince expressed hope that the West would perceive BRICS not as a rival, but would see the bloc as an example of how people and nations should be treated.
"I wish that the West does not see this as a counter of some sort, but a recognition of how people should be treated and countries should be treated, which in this case we should be equal in the UN, in the security cluster and also when you talk IMF, World Bank. I think it's about time that we are taken seriously, Africa's taken seriously. And the countries that are not part of the establishment, the West establishment, start looking at us and and give respect, in a way," he said.
He called the 15th BRICS Summit itself, as well as its outcomes a "watershed moment" that is "groundbreaking".
"A watershed moment," the prince stated. "This is history in the making. We are talking now over 42% of the world population being part of BRICS. Now, it has never been achieved before. Now that's groundbreaking."
According to the entrepreneur, one day, nations will be equal in terms of trading and no currency will be dominating over any other ones.
"There are talks about de-dollarization. The dollar will obviously dominate for some time, but I think at some point there will be a level where everyone is equal, will be able to trade and no currency will be dominant to the rest of the currencies in the world," he stated.
In addition, Dhlomo said that BRICS expansion brings some weight to the bloc, which is a positive development for South Africa's economy in terms of monetary policy.
"Now Saudi is part of it, and the UAE, which makes me very excited that there is now weight in the BRICS formation and that will be a serious protection for the South African economy as well because you know some of these things are used especially on the monetary side," the prince emphasized.
Speaking about bilateral relations within the bloc, the prince stated that South Africa and Russia have long had strong ties, yet there is still much to be achieved in terms of economical cooperation.
"I think there's cultural obvious exchange that's always been there between South Africa and Russia, Russia has been a big brother to South Africa for some time," Dhlomo noted. "There's economic exploration that both countries need to start to know. I know there are sanctions in place, but I'm hoping that at some point things would be corrected and we move forward and explore economic opportunities that have been presented by BRICS and we will be able to trade fairly without any hesitation."
Touching upon the next BRICS summit that is going to take place in Russia's city of Kazan in October 2024, Dhlomo noted he is awaiting significant announcements and breakthroughs concerning the expansion of group.
"I think there's many pages that BRICS will be writing. I can only see great things happening. With Russia hosting next year, I think there will be, again, great announcement and breakthrough on some of the applications that countries that applied to be part of BRICS," the prince said. "I think there'll be a mad rush of countries trying to be part of BRICS now, because it is the future. It's the future of humanity, the future economies, future of education."
