Africa Needs BRICS For the 'Good of Its People,' Business Group Head Says

African nations need to join BRICS so that they can fight for better lives for their people and more independence for their economies, Tuwani Matthews Mulaudzi, executive chairman and MD of South African venture capital company Luvhomba Group, told Sputnik Africa.

"If Africa is together and if Africa is united, nobody will come between us. We remain united and whatever we struggle with, we fight together, particularly for the emancipation of the economies of this continent, the better for the people of Africa. So it is very, very important that they join, and BRICS is very attractive," Mulaudzi said.

He outlined that the grouping influences international relations and economics, adding that BRICS has to compete with both G7 and G20.

"BRICS brings about a shift not only in mindset but also in the global geopolitics and economics. I've had a few people saying we are not here to compete with G7, with G20. I'm saying we must in fact be competing with them and do better than them in the interest of the BRICS nations and its people," he stressed.

The BRICS bloc can bring experience and development in various fields to its future members, namely to the African nations, Mulaudzi noted.

"I believe that with the advent and the involvement of the BRICS countries, we are bringing a lot of experience, wealth and massive infrastructure development and progress, economic development and emancipation of the people of Africa. And that for me is a plus. And we need BRICS. BRICS has a bigger role to play," the speaker outlined.

According to him, the bloc has already contributed greatly to the continent in terms of investment.

"If you look at the amount of money that the five countries have contributed to us [African nations], the NDB [the New Development Bank] of BRICS – it is a lot of money which is supposed to go towards infrastructure development," the Luvhomba Group chairman executive stated. "And if that money is to be used productively and positively towards the development of the people of Africa, even the better for all of us."

2023 BRICS Summit in Johannesburg

Leaders' Speeches Demonstrate Consolidation & Unanimity Within BRICS

22 August 2023, 21:25

He expressed the opinion that BRICS is an alternative to a unipolar world, adding that the grouping requires its own currency.

"[BRICS] is an alternative. You would have heard yesterday if you were here, the presentations at the gala dinner. They were saying BRICS contributes about 32% of the world's GDP. That's even plus 2% more than what G7 contributes. Yes, it is an alternative. Do we need our own currency to deal in our own business? Yes we do," the official stated.

According to him, the African leaders today are realizing how the Africans have been used by the Western nations and the US in particular.

"The [African] leaders are now waking up to reality. They are waking up to reality that for the longest time Africa has been abused. It's been manipulated, in particular, by the West and the US," he stressed.

The Luvhomba Group chairman likewise stated that Africa's cooperation with BRICS is a completely different thing in comparison with the continent's relations with the Western nations.

"It's something that is quite different from what we have seen in the past when the West came here and the Americans came here, all they are interested in is to manipulate the mineral resources of this [continent] to the benefit of their own citizens and not the citizens of this continent," Mulaudzi stated.

Speaking of the West's attempts to isolate Russia and the unilateral sanctions from Western countries imposed upon Russia and some African countries, he stated that such methods are unacceptable.

"It must be condemned in the strongest possible terms. […] It's high time that the Africans must tell the world, the US in particular and the West, that you cannot choose friends for us. If Africa wants to do business with Russia, so it should be. Russia is our friend," he emphasized.