the, the i am theater of the moon, but here the slow our kids jump on 7, see my truck was gone. the, and the republicans getting, you know, africa as clearly. they are the ones that a lot of, uh, always something new. and to the extent that african country is every gain, the independence in the late fifty's on 60 the, i caught them is what for additionally, depending on western institutions, it was a, the euro, or the united states of america through institutions which was dominated by the west or denied or related 5 to the bretton woods

institutions created in the bedroom of wood in the 1900 done for it is of to the 2nd world war and the med. yeah. institution that emerged out of that space was the international money to refund on the bones for development, or denied or referred to as the while debunk. many people do not know, but what is now called the wild trade organization was also muted at that time. but of course, what we know is the general agreement on top of all got these institutions wow. dominated created, and i still dominated, by the way i'm, that is why they are full when you became an idea. and it must be said that the idea was from a conversation by another width and goldman sucks. who came for the 1st time and talked about imagining economies,

particularly the economist or need who talked about pics to me in brownsville, russia, india, on china. between the 200, the 2000, the 200112009. they won many activities with the fust measure meeting taking place in the 2009. and of course, in the 12102011 south africa was admitted and it was no longer brief. but bricks allows us because of what was the reason behind this suggestion, this should be on economic broke or couldn't economic. but you know, not the brits, the reason must be understood in the context of history in the context of history to mean that many of african countries why

dominated by western institutions so that you had a government such as is a low man convention which was between the african countries on 03 and union outside of below mich convention, you are convinced of the site of the quarter new convention. and aside from that, we also, so that the, i am, i am mess and the log bunk was very dominant in african countries, but particularly during the 1908 is under what was then referred to as this structural adjustment. during this structural adjustment, i am asked on the why the phone came to the us with the economies on what they did was to make economic prescriptions from which african countries i've never recovered. it is when economies which are not in the fast wired, so to speak, started to much as the money from shutting economies. they started to

a much as made j economies that it became sensible to begin to talk about these imagine economies as the count, the way the i m f under was brazil was beginning to emerge as an economy which was industrialized even mexican jets. india was beginning to emerge as being very dominant in the wild of technology in the computer. china was also imagine as the manufacturing hub or i share, of course, had been, had bought because of it submitted 3 capability among other things and also its ability to leverage on technology. so those why the not federal the stones upon which the new economic order would rest. but africa was being exploded

on because of the go as being excluded the question then i rose, how do you involve africa and went south africa, which was the domain on the economy at that time. a said that they were interested in these arrangement, there was then i missed it. of course there was then the question i at at that time, whether you wanted to admit the nigeria. but nigeria zip code of me was not as sophisticated as south africa's economy. so i'm even talked about the admission of egypt at that time. but in those 90 days, as we know, it is south africa that was admitted and we now talk of bricks. the question then is, what is the value? if any of critics to the continental wasik, i hold the view that bricks provides a great opportunity for african countries to look at the front of me is from a different standpoint, many african economies are still

a good area. and if i'm permitted to use that word, you want to look at the economies that are going to met africa, go through what i call the lot that they agreed cultural a great, a younger pollution as india can provide that technology. russia can provide that deployed technology through the 1st allies schemes, signing up and provide that brazil can do that. if you go into the fishing system, sign up and do that. brazil can do that. in other words, these are countries that have appropriate technology, which can be deployed in the continental wasik. if you leave the car, just secretary in the, in the just set it up right now. if you look at a country like china, it generates more electricity then on african countries combined. we need that, that knowledge in order to improve a,

the hydro electricity generation g o samo. we need to have high, we need to have solar, we need to have wind and is not lost on me. the china is indeed the home of most of these solar panels. we need that. we need also to have our infrastructure on once again, these are countries that have the know how, because the and the reason 1st, they have succeeded in ensuring that the economies are lifted from above. and we don't talk about this as often as we should, but in the last 2 years, china has been able to lift no less than 800000000 of the population outside of it. we also need, as i've said to got into this space of industrialization, and when you talk about industrialization is not lost on me the right now they're, i sions, in negotiations with the new city and for purposes of deploying min,

nuclear technology, a nuclear technology is going to be very useful when we need reliable power. they also in negotiations all a while to get into negotiations with book enough for us to undermine for new, clear up technology. and i think that that is very significant. the russians are also going to be negotiation. i'd be able to read the stated in searching to trust 5, the necessary technology. the thing is uh, in the area of competency donation. we all know what happened in 1972. i remember as a young man, there was at that time the for an minister for and set free of the united states. henry kissinger. and there was on a, so would the oil minister co ship is lucky of mine. and at that time, that is when the quantum, the of the wire, the was a dollar eyes on, through the dollar eyes ation all the international economy. the whole idea of the

pit for a girl that came about as i speak to you. now on my see does may very well be conservative, almost 80 percent 7, something between 70 to 80 percent of international trade the, the time in the, the, in the united states dollar. in other words, i'm in nairobi, kenya, and i use a visa card or american express. it is expressed in don't let them know the words, the banking system internationally is controlled by the west. it is swift. swift may be registered in belgium, but if i'm transferring money from after i and gone up to legacy nigeria, it must go through a corresponding bank in new york before it comes back. that is

a how domain and the international money for the system is got to see of the west. and if you're not dealing with the sift, you are dealing with the i bond. and if you're not building this soft cuddly, they had gardens in the world. us talking dollars, you are talking euro, you are talking about the styling, phone. and as somebody said, when the american de la sneeze this african cutting says go into a coma. the bricks in my view on now say that we've got to have a payment system that is going to the dollar eyes, the economies so that our economies are not dependent on the united states dollars . and in fact, we do know as the fact that almost anything between 40 to 50 percent of the united states dollars is suck too late. thing outside of the united states of america bricks does provide an opportunity for countries within the continent of africa to

trade using the currencies. and i know, for example, that the india and india on the tons and yeah, i've already started the tried to trade in there will be, i know, exam b, i also tried to trade in the one. but the whole idea is that, you know, have a bus get the car and says, i didn't that way with the dollar eyes though i, economies on when we did dollar eyes or economies, it means that we are going to be much more in control of law says in control of inflation and or those are the things that are necessary you for calling them is our to grow for the benefit of the people. but what are the challenges going forward already? they are, mary sounds jittery of the i get 30 because the bricks is expanded today the bricks, countries combined have large

a quantum me then western europe combined as that busy uh, the bricks economy is controlled. 36 percent of the economy and the bricks or other, the western countries control only 27 percent and that is increased because many african countries are now saying we want to join and we want to join brooks and countries such as a nigeria and others even in the blog, joining the brits and if the western world is not very careful, then brooks is the next big thing in town. even if it is not. it does not look like it now. but what do headwind the western wild is already resisting that? they already saying they are going to sanction you. so is the, what one of the choice is, sanctions, the already going to say that we are going to impose tar, if a non target battery is only

a goods. they already go saying that we are going to ensure that we deny you access to credit through institutions such as the m, f and the was done. another thing that they are doing is that many wisdom countries are now acquired an interest in african development bunk. and is not lost on me that often nigeria, the 2nd largest shareholder in the african development bunk, is the united states of america, the germans, uh, the, the jump on these uh the, the british uh the, the franchise. yeah. and as i've said that different from the african development bank is in danger of being on the african bank by name only because it is fundamentally controlled by those shareholders. so this is going is not going to be easy. there's going to be divide and rule. and i suspect that a number of african countries are going to be don't we pad before, give you

a debts if you don't joined the bricks, but i or the view, when i put this cane that breaks. if we remain faithful dates the agenda, provide us with on countries with that know put to needed to participate in on economic order, which they understand and which they participate in from us on the point of respect . and as for the members, as opposed to institutions, sides of the mf under was bunk, which was created when african countries was still on the colonial. your speaks is the way to go and i hope and pray that people to succeed difficulties will exist. but those difficulties can be constructed into opportunities. conversation around africa continues apace, but let us have a break. we see you in a short while, the other of many places in the world's

wages, say you're on the divide between 2 oceans and over. you might not think kids. one of them is hey, english is northern, are found guest vision in the channels that us and national parks. and today's, we know the stuff was, i'm taking a deep side into some beach because systems, the i m p it, everyone, but he uh, power dies gardens in campbell county in the republic of kenya. we continue with our conversations about the continent of africa. and today we focus on a country that has the rich history.