Commentary

South Africa is poised to make history as it leaves an indelible mark on the BRICS summit, setting the stage for a momentous gathering of global leaders that will shape the future of cooperation and development.

While China has gained some traction reducing dollar dependence in its trade with partners like Argentina and Brazil, fully replacing the dollar's dominance remains an immense challenge given the renminbi's limited global role.

Ethiopia's central bank takes a bold stance in combating inflation with new measures and targets. However, challenges loom as the feasibility of reducing government borrowing and limiting credit growth raises concerns.

Global grain production is projected to hit record highs in 2023-24, led by bumper wheat and maize harvests. Abundant supplies of oils and meals are also expected on higher soybean, sunflower and rapeseed yields.

Africa's approach to collective security must be recalibrated to address rising conflicts. A paradigm shift is needed to prioritize prevention, revise the UN's collective security system, and overcome constraints hindering effective cooperation.

With the lofty UN target of zero hunger by 2030 now seeming further out of reach due to rising global food insecurity exacerbated by multiple crises, focusing international support on boosting yields, financing, storage and market access for smallholder farmers could help get efforts back on track to achieve this vital Sustainable Development Goal.

Ethiopia's rapidly growing dairy sector struggles with low productivity, high emissions and import reliance. A new World Bank-backed initiative in Oromia aims to demonstrate that dairy service hubs, embedded extension, and fodder centers can sharply cut emissions per liter while doubling farmers' incomes, unlocking the potential for Ethiopia's dairy industry to become a model of green, inclusive growth.

International migration and digital remittances have brought enormous benefits to both high-income countries and lower-income countries despite the "brain drain", financing development and alleviating demographic challenges. The growth of digital remittances has reduced costs while increasing the resilience of inflows, benefiting people who depend on them the most.

The EU-AU partnership delivers concrete results for Africa: from billions in funding for food security, infrastructure and peacekeeping to removing tariffs for African exports and expertise for the African Continental Free Trade Area. While more needs to be done, the EU's commitment to Africa is growing to build a more just and sustainable world.

The Bikat Program in Ethiopia trains youth aged 18 to 25 for apprenticeships, helping over 7,000 young people find their first jobs and gain the skills needed for the workplace in Addis Ababa alone.