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food and medicine in supplies. and freedom with ah, the we still have in few countries that to one to be the global hedge of months. and that is what vi resisting. so publican countries have always had said that it really comes to colleges because we rely on the us dollar. we don't want one or 2 countries determine all future for now. you see with jeffrey sets 2 weeks ago speaking on the public platform, said that ukraine is fighting a proxy war between russia and usa. each of

d dollarization has begun. it's time for global. we set africa has grown weary of western dominance and foreign currencies. the search for alternatives to the dollar, and frank is gaining momentum, accelerated by the conflict in ukraine, which brought home some hard truths. hello, welcome to the sweet african now. so we're coming to you from the ha, south africans financial district, and the most expensive way a mile in africa. behind me is the $100.00 foot stock exchange, which is footing for programming, slowing africa, search alternatives to western currency. the french frank and the us dollar had long played an out sized role in global market. the cracks are talking to appear. african countries and central banks are not holding these currencies in. they were due to the extent that they wanted books, countries in particular, but still russia, india, china,

and south africa are working on moving away from dollar based economy as they take greater ownership of the interest. and other nations are warming up to the idea. as best so cool. explain mr. investor. thank you so much for having this interview with us on africa. now, one of the topics we've been looking at is an alternative currency to the american dollar. would you describe the bricks, development bank as that being part of its vision? we'll look, firstly, thank you for having me. i think the issue of alternative currency has come to the fall in recent times as a result of the russia, your current situation. and the unit led to sanctions and all of us have been impacted by that, especially in the financial sector because of the domination of food. he was dollar

in terms of global trade and over financial transactions. we have been talking about this for sometime within brakes that we should be able to trade an interact with an own currencies. we should be able to borrow from our n d, b with an own currencies. and this is happening. you would have seen that in the annual report of the president of the bank last year, outlining the vision of the bank $22222.00 and $6.00. that at least 30 percent of lending will now be in local currency. and i think that's a major step forward in terms of bank diversifying it's lending portfolio. so the building blocks of us relying more on our own currencies and winning ourselves away from just one or 2 currencies. i think that has always been

the creation of bricks and i think the circumstances prevailing as a result of the may lead to sanctions and the pain, all of us are feeling not just bricks countries, but especially developing countries. it makes perfect sense, and that's why you see this is not a conversation just amongst bricks countries a conversation amongst the larger global soft. we still have a few countries that one to be at the global edge a month. and that is what we are resisting. we don't want one or 2 countries determining all future. we want to be able to sit collectively with all the powerful they're not so powerful. and also those that don't have the necessary and elements to sit at the high table. the un, when we make lofty speeches as global leaders, that we must be inclusive, we want to build an inclusive global community. but when it comes to the crunch in practice, we see something totally totally different. and it is the countries of the global

soft countries of africa. the early see is the small island states that the most as a result of these selfish actions by a few on the many he mention and to use your words, the pain of developing countries. these are the sanctions. can you elaborate a little bit on the well look what the sanctions did to us. it created a crisis on the global markets. we had the rise in inflation. levels of inflation unseen for indicates were seen depreciation of currencies. we have seen the fluctuation of currencies, and we have seen how this is also causing pain to the ordinary person in terms of food security. in terms of energy security, in terms of global supply chains been disrupted in terms of,

of the investments into other countries. these are being impacted the result of the and electoral sanction. so the union lateral sanctions is not hurting one country that is directed to what it will live in an interconnected global iceland. the action of, of one is impacting on nearly all of us in a very negative way. i had this idea that the bricks development bank was going to come up with one currency, almost like a books currency. but when i listen to you, what i understand is, it's not necessarily going to be one currency. it's going to allow countries to trade in a convent currency. so we will have a whole host of come and we'll have a basket of currencies. but we want the bus going to be probably best to include the currencies of the developing world, including the brits countries and not dominated by 2 or 3 as just as it is thus far . and going into the future, the world has changed. bricks is not in competition with any grouping or any part

of the world. what bricks is asking for is, let's every, the playing field. the plainfield of 1945 when the united nation system was formed is vastly different. most of the countries of the developing world in 1045 was still under colonial road. and when we are saying we need to reform in culver, marty latrell system. and therefore we are saying this is the major thrust of bricks. and that's why we finally have them into the global south because the global south country, new fields feeling marginalized and the decisions are taken for them rather than them being part of the decision making. and that's what we are saying. we want a multi polar world. and multi civilizational world, a world where all of us are respected and o inputs and views are valued,

and that we are part of decision making. all we witnessing the decline of the dollar. well, you should be able to answer that question. it's all over the, the gover media, more and more countries, the fact that countries and these major emerging market developing countries like india, china, i've seen some of the middle east and countries are now also moving in that direction, trading in the own currencies. what does it say that more and more countries are saying that they want to choices and they want to be able to trade in their currencies? so i think you're going to see more of this rather than less, which is say the, the roof you're talking about is a safer and more diverse option for countries to invest in rather than in the us dollar. and i'm talking specifically african countries. well look, i think we want to diversified buses that because you can't put all of your eggs in

one basket because when you have a crisis and those excess cooking, you are the loser. but if you are diversified, you still have a safety net. and i think this is the direction the world is moving and not just in restructuring the global financial architecture, including in the way we conduct business between ourselves as, as government and as private sector. but also in terms of a more equitable distribution of what is happening on the global stage on the political security, financial, economic saving architecture altogether, what countries would still prefer to maintain the status of the us dollar? well, i would think that the allies of the us would one that but what we are seeing in the global south, and maybe i could use the example of bricks expansion. interestingly,

we were the 1st country it benefit from bricks expansion because we, we were not there the launch of bricks we joined for the 1st time at the 2011 summit in sunny and china. and over the years they've been one or 2 countries each year saying they're kim joining last year. last year you had over a dozen countries from the global self. and i mean, major emerging market developing countries, formerly writing or informally approaching bricks. leaders saying they want to become members of bricks. now why the sudden a rush? why the sudden rush? because obviously we are doing something right in bricks, in terms of what we are focusing on in terms of what we are championing in terms of creating a more credible, inclusive, transparent, and global governance architecture. so i think that that clearly illustrates that the bricks leaders moving in the right direction in terms of the new global order

and your cobra community. like to see, i think, you know, as much as it is spent 4 times. it's also a time for us as he international community to be creative and work towards peace because that should be the underlying aim for all of us. we want a peaceful order, but unfortunately, what we are seeing is a bar. and this is what is causing the destination and conflict in the world is a few nations wanting to be the head, demons of international community. and that's not going to happen. the world is vastly changed. as i said, you have major developing countries, india and china bricks a console, 40 percent of the global population. we are 40 percent of the global population. we are 25 percent of global g, d p. and again, just referring to jeffrey sex,

jeffrey sex pointed out that the bricks economies is bigger than the g 7 economies today. and books continues to grow. you saw the i m f world bank predictions in terms of global growth this year. europe is in serious crisis. some may even go into recession channel as expected to grow, at least between 5 and 6 percent. india is expected to go 6 percent plus and despite the challenges in russia, russia is also expected to have positive growth. so his brazil, i think you are seeing a research in brazil on the president lula as one of the main architects of bricks . so i think that's also good news for bricks. and of course, south africa. it's not just about everything for us. bricks is also about africa. so yes it's, it's, and i think it's an opportunity to be sharing bricks. it's the difficulty or what is the paternity? i see it as the of the 2 full bricks and on that positive. no, thank you so much for joining us. and for giving us of your time,

my pleasure. thank you so much. as the minimum and fees, the ads and pro put grows, it's not limited to the financial, but it's also impacting other industries. the world's only film festival. that place is a special focus on bricks. countries making a comeback. this year it's yeah. at the university of 200 big in south africa. it's focus is on shaping the future and forming the bus partnership and strong type amongst bricks, countries, the festival showcase of the long and short films. exposing produces to international audiences, setting the tone for future collaborations. briggs, but the countries don't have much p r to do. ok. france needs be, are, you know, mean it's got, it needs come international 1st of all, america and these, those guys, you know, because they've got on brutalizing people. so it's easy for them to find things that make them look good. but you come to set up as if i need to create

a con peter oscar. it's like what for we got to feed people who are going to build roads. so just being around is quite an achievement because it's not a proud it will not be to try to do that said, i still think good countries should also have good p r. so that they remind each other the, you know, they've got things beyond just politics. and start, but at this stage it's hard to fail. how do you get to sell your film in america? if you become a foreign language when off gum, maybe you get a few more screens. but that the lie is come to off to get your phone going. but the truth is, you're not going to get much if you go there. so if we start to collaborate more, have more springs of our own that would do if we put our own fill them in my in charge a ride for people to watch them. maybe a really big business as an economy block and a jewel political block. the idea of meeting financial needs and local currency is

reverberating across the continent. we know that we can get from 200. it's clear that western currency is a starting to this value, and this was what the most african countries. and this is led to the desire, amongst many africans thought, seeing value and supports their own currency that we ought to day in the streets of sure hadn't, from south africa when most traders in this country, from many parts of the african continent. and with these currencies and lots of foreign, a, my dilemma is with the got polymer. now even those that african currency is that the rand we, as africans, we understand the value and the way to that each, the current through africa carrier was involved with her currency missions or

louis pin fears about many africans and are starting to see the importance and the value of the own current, but not if you want with having many currencies in one country would actually mess up our economy. okay. so we need one currency, whether it being crypto currency, but we need one currency for the whole of africa, not just south africa. and so the only question that remains is of what can be done to make sure that we maintain and uphold our own currency to the same level as waste in covington, for r t abnormal, we'll call and get into hannah's. but among the most prominent african countries moving away from traditional colonial plates, currency is south sedan. interestingly, the international monetary fund has expressed support for the tuba government efforts to code the u. s. dawn is dominant and local transactions and contracts as

part of move aimed at maintaining the high cost of living as a sauces, any citizen, i am requesting that in or out businesses and exchange practices. we must use our local pound because we have a currency that represents us. every way you go, people are using the dollar in hospitals in markets every week. there needs to be a solution, but i don't know what the solution is heat, but surely we should be able to use our own currency that makes sense for the lives of, of self. so the nice people for the searches and those kind of see that we use a lot of we don't want that anymore. use a local currency whether enable us to do more market activities in change for my daughter to anything else. so using the currency would be very important. the key to moving away from the dollar lies. yeah. the good news is that african

countries and already taking significant toward easy financial payments and pay him for mobile pay service, where healy for money is a mobile phone based transfer payments and micro financing service. taxi driver took us for a drink and explained how it works. in a day that's more important than exactly. you are a taxi driver. yeah. how has some kids helped you in your job? it has been convenient because i'm able to give change to my client lives in all one time i walk out of the car to go and look for change to for my clamp, you get the change to me. yeah. because if you pin me through and past that you can pay through me, continue to guys, i give you change on and so it has mid transaction cities and also the 5th time and

safe and fear for very much for taking me off something to drink yoke and i appreciate you paying, you're most welcome. so this to number is if the one who comes in, they said those will be through this number. so this is not the case, the number for this restaurant for this list. ok, so you go on to your phone, you're going to go to my in pisser and my phone, which is an app which is not. and then from there, the pin, a person really quick can be directed to go directly to your, to their account, because they want me to pay that way, account by mouth, innocuous, know you're going to to this the ocean, bye bye. good and service. it was bang for the good. so i'll touch on bag with and services and then i'll and tell is to number to live on the option to enter the amount. okay, 90900. and then i will say ok. and then it will give an option for my,

my own pin that will be in that i still not even with you. and we won't be from masking, you shall not look. so it's too even movies to my phone that you have to have a cell phone. you have to have a cell phone now and does everybody, can you have a cell phone? yeah, i had to almost have it on half a cellphone in our house. would it but has a cellphone? so even amongst the clerk communities, you might not have money in his account, but you'll have a cellphone with an impair set. yeah. can you show he can pull it, put the information. so now we've paid. yes, you're paid. thank you so much for your service and sometimes it was really nice. you almost talked to jennifer. thank you. for a long time, african countries has struggled with infrastructure problems, which have made financial services less accessible in the move away from waste and

currencies. a growing number of countries are now looking at crypto currency as a viable alternative. if you can just start by explaining to as what exactly crypto currency is because a lot of people talk about the block chain, but coin and a very am. what exactly are we talking about? so cooper currencies are independent currents is you're going to think of them as any other currency. for the 2nd big con, for example, you can think of it as the u. s. dollar. the same way you can think about the south african rand or the russian rolo. the difference is group occurrences, arnold attached to any country. now why do you think african countries are taking this particular route? would you say african countries are trying to wean themselves off western currency pads. so african countries have always had a disadvantage when it comes to currents is because we rely on the us dollar. and several other hor,

occurrences in which these currencies are printed by the western countries. and also the payment infrastructure is controlled by their so the payment was made, make it impossible for a lot of africa to transact in a global level. i'll give you a simple example, each and every african country has a difficulty simply interacting with the neighborhood. like africa is the most disconnected continent in the war. like it's so expensive to send money from one country to the never country. or would you say that african country is a time to wean themselves off western currency? yeah, if possible, you are in a growth of stem coins in several places, luxurious zimbabwe, where there is a lot of forest problems. it's so difficult to get all of us daughters, and what a lot of people are doing is simply get auto some u. s. t t. in your own view, would you say you are in full support to african countries making this particular

move your 4 digit code for africa to work online? it is too difficult for both right now to not use cooper currency. right. which means a lot, a lot more people are more confined into their local jurisdiction. so if you are, if you live in a country that's, that has 48.7 unemployment rate, it means that you're not as good if you don't have the means to connect to the global economy. whereas if you have a crypt occurrence while it, well, you can get online, there is no unemployment online. you can get a job as a math teacher and teaching some kids in mongolia or in russia or in australia somewhere, and get paid to currency. but also it means there's more africans now can conduct an e commerce, which also has been very difficult because with a payment get way which i referred to as the economic path. i'm, but a lot of africans don't have the means to do trade. now you can open an each, go online settings, a product, offering a service, and you can start getting paid with group to currencies. and this takes literally

less than 5 minutes to set up. you don't not, you don't need to sign in a forms or make any of applications. is as easy as downloading your, what's happened, a phone number and you ready to go. now some people believed that african under developed infrastructure. perhaps that makes it a stung victor for crypto carries these are, but some in fact a lot of people believe that that's the actual reason why it wouldn't work. what's your take on all of this? they lack of infrastructure for the current legacy system. is the current is for more african to adopt to currency. and this is because of how the tech is built. so for legacy infrastructure you mostly, you have to invest a lot of locally in infrastructure because it's in the servers or a lot of the you need a lot of investment to come in your country and set up to visit. you'd make a lot of these things work. that's why i wrote the services even payments are

expensive. these are blocks and best acknowledges. it's already designed through the incentive models. do allow people to just use and pay a small fee. and the provider of the service is better to widen by anyone in the world. because for the 2nd big going to look at the con, mind can be done in a way in the world, but in one. so it, while it is a victim, a whole is a provider of the infrastructure. in other words, if you are confined to say, one entity, a company to provide the infrastructure or let's say payment gateway or a verification system, you're not forcing yourself to allocate a whole lot of capital by one provider to get something done. and this makes the prices of infrastructure or the services to go to go up. but of course, the infrastructure held for more duction we need developers or new systems that can be beauty, to these technologies and for that to grow really fast and including infrastructure

. so it's really an excuse to not beauty infrastructure, but it is a live frog to basically cut corners and get to said places like factor that would if we had to use the traditional pro for infrastructure. well, that brings us to the end of this week. so we hope you enjoyed it. you can always catch us on our social media handles if you missed last week show week. so custodian heritage, much of which can be found today in museum in the western world. and from the heart of one of the financial district, what's another day? another don,

that is changing blue a with ah,

ah ah ah, in fact this is a terrorist attack is no longer a secret. moreover, it was a terrorist act committed at a state level because no amateurs could commit an attack like this from the north stream pipeline bombing with a thank phone for the terrorist attack. well, the western version of events is complete nonsense. that recording appears in the us military drone is causing the black to see all the find me in come on to violate a no fly zone imposed by russia. washington would rather destroy