In 2025, South Africa chairs the G20 while Brazil leads BRICS+. This marks a significant moment for the Global South. Both countries are BRICS+ members, which could shape global economic policies. Their leadership raises questions about whether BRICS+ and G20 will compete or collaborate.
G20 was established in 1999 to address global economic issues. It includes 19 countries, the European Union, and the African Union. BRICS emerged in 2009 to counter Western dominance and promote a balanced global order. South Africa joined in 2010, transforming it into BRICS. The expanded BRICS+ now includes additional members and 13 partner states.
Competing Visions for Global Governance
G20 and BRICS+ have overlapping goals but different approaches. G20 promotes economic stability through multilateral cooperation. BRICS+ challenges Western financial institutions and seeks alternatives for the Global South.
BRICS+ is pushing for financial independence through new cross-border payment systems. It also aims to strengthen local currency transactions. G20, on the other hand, focuses on economic reforms within existing global structures.
Despite these differences, both platforms recognize the need for global financial reforms. They are reviewing the role of institutions like the IMF, World Bank, and WTO. Their goal is to create fairer financial policies for developing countries.
South Africa’s Agenda for the G20
South Africa’s G20 presidency prioritizes inclusive growth. Its theme, “Solidarity, Equality, and Sustainability,” reflects its focus on economic and social development. South Africa plans to strengthen partnerships with the African Union and European Union.
The country aims to address economic disparities, trade challenges, and sustainable development. It also wants to reform lending conditions to help low-income nations manage debt. South Africa believes the G20 should serve as a platform for the Global South’s economic empowerment.
BRICS+ and Economic Self-Sufficiency
Brazil’s leadership in BRICS+ will focus on financial independence. The bloc is exploring the feasibility of an independent financial system. This includes a new reinsurance mechanism and cross-border settlement infrastructure.
BRICS+ wants to reduce reliance on Western-controlled financial systems. It supports using local currencies for international trade. It also plans to expand alternative financing for infrastructure projects in developing nations.
Brazil is expected to continue the work started during its G20 presidency in 2024. Its BRICS+ leadership could drive further economic collaboration among developing nations.
Africa’s Persistent Development Challenges
Africa still struggles with economic underdevelopment, governance issues, and high poverty rates. Many African nations lack financial resources to invest in key sectors. Infrastructure, healthcare, and education remain underfunded.
Despite rich natural resources, African countries struggle with weak financial systems. Debt burdens hinder economic growth, making external support crucial. Both G20 and BRICS+ recognize these challenges and seek solutions.
G20’s involvement in Africa focuses on economic stability and trade growth. BRICS+ promotes alternative financial models to boost investment. Both platforms could play complementary roles in Africa’s development.
Strategic Collaboration or Global Rivalry?
G20 and BRICS+ influence global economic policies in different ways. G20 integrates developing economies into the existing financial system. BRICS+ aims to reshape the global economic order. Their competition could intensify if they pursue conflicting strategies.
However, their shared goals create opportunities for collaboration. Both want to reform global finance and promote sustainable development. They could align their efforts to create economic opportunities for the Global South.
South Africa and Brazil have a unique chance to bridge the gap between these platforms. Their leadership could foster cooperation rather than rivalry. The success of their agendas will depend on strategic diplomacy and policy alignment.
Looking Ahead
As 2025 unfolds, the role of G20 and BRICS+ will be closely watched. Their decisions will impact economic policies worldwide. The Global South stands at a crossroads, with both platforms offering potential solutions.
G20’s established influence and BRICS+’s emerging power could reshape global governance. If they collaborate, they could drive economic growth for developing nations. If they compete, global financial divides may deepen.
South Africa and Brazil must navigate these dynamics carefully. Their leadership in 2025 will shape economic policies for years to come. The future of the Global South depends on whether these platforms compete or collaborate.
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