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Video: South Africa’s Ramaphosa wants reforms of global financial institutions. Here’s why

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In this video, President Cyril Ramaphosa of South Africa, during his speech as host of the emerging economies group Summit, BRICS 2023, called for a “fundamental reform of the global financial institutions to be agile and responsive to the challenges facing developing economies.”

He noted that the new wave of protectionism and the impact of unilateral measures that were incompatible with WTO rule undermined the growth of developing countries.

Ramaphosa also stressed how foreign direct investment had aided the growth of BRICS economies. According to him, the total annual Foreign Direct Investment into BRICS countries was now four times greater than it was 20 years ago.

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Video: Nigeria’s Dosunmu-Ogunbi becomes 1st-black female to bag PhD in Robotics at University of Michigan

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In this video, an inspiring Oluwami Dosunmu-Ogunbi, who is of Nigerian descent, speaks at the university’s College of Engineering convocation as she becomes the First Black Woman to bag a PhD in Robotics at the University of Michigan in the United States

Dosumu-Ogunbi, who is a daughter of Nigerian immigrants, expressed her desire to be recognized as the inaugural African American female recipient of a Robotics PhD from the University of Michigan. Furthermore, she aspires to leverage her technical expertise to enhance the well-being of people.

“I do not stand here on my own two feet alone. None of us got here by our merit alone, whether it be teacher, friends, family, mentors, or role models, we each have one or multiple people to whom we are grateful for making this moment possible,” She said.

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Video: Uganda’s Museveni urges African leaders to verify true motives behind IMF, W’Bank loans

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In this video, Ugandan President, Yoweri Museveni, urged African leaders to verify the true intentions of multilateral lending institutions towards the continent. He asked African leaders to “audit the intentions of the World Bank loans to ensure that they are for prosperity rather than profiteering”. He added: “What loans are we getting as Africa? Is the World Bank giving us loans for private sector-led growth or to be more dependent?”

“Our populations are increasing, but our economies are stunted. The International Development Association (IDA) should tell us why they are funding the modern slavery of Africans, and we should address issues like why Africa is producing what it does not consume and consuming what it does not produce”, the Ugandan leader stated.

Uganda under Museveni is known to have been in the bad books of multilateral bodies, the most recent being the fallout of his decision to accent to strong anti-LGBTQ laws which resulted in sanctions from both the World Bank, IMF and other international bodies.

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