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BRICS offers hope for Africa’s resource potential: Ethiopian economist



Dr. Costantinos Berhe Tesfu, former UN Senior Policy Advisor and Chairman of the AU Advisory Board on Corruption, sees the BRICS grouping as potentially helpful for Africa’s mineral resource development, which can enhance regional stability and reduce conflict on the continent.

“The regulation of this mineral exploitation and trade definitely will enhance also the possibility of peace in African countries that are producing these minerals,” he told Sputnik Africa on the sidelines of a recent roundtable in Moscow focused on BRICS cooperation in the field of mineral resources. “We have the Russian Federation and, of course, China, which will be very important players in this.”

Dr. Tesfu highlighted the abundance of mineral wealth across Africa, particularly in countries like the DRC, Central African Republic, Cameroon, Ethiopia, Sudan, South Sudan, Chad, and West African nations like Niger and Burkina Faso.

However, he pointed to the persistent challenge of utilizing these resources for development, often hampered by corruption, external influences, and a lack of governmental control. He cited the recent nationalization of mines in Burkina Faso as a positive step towards local control and benefit.

When comparing the BRICS approach to that of former colonial powers, Dr. Tesfu argued that BRICS countries are better positioned to support sustainable mineral development in Africa.

“Since China and Russia specifically have huge mineral resources in their own right, they can help in the technological development side in the exploitation of mineral resources,” he said.

According to him, BRICS “can help African countries to, one, develop their mineral potential, to exploit their mineral potential, and also to legalize trade in these minerals globally.”

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