Finance

BRICS Makes Huge Announcement About Launching New Currency

South African Ambassador to China Siyabonga Cyprian Cwele confirmed in an interview that the BRICS currency is progressing. “The BRICS are advancing the progress of its common currency,” he said to Global Times. He added that the alliance is “actively promoting the use of local currencies from member states to reduce the risks of solely relying on the US dollar”.

Therefore, even before the launch of the new BRICS currency, the bloc is promoting local currencies of its members to halt the prospects of the US dollar. The Ambassador revealed that a task force of member states formed by the financial ministers will meet in May to discuss the currency.

Cwele stressed that local currencies will be traded heavily among member nations until the BRICS currency is launched. More details about the soon-to-be-released BRICS currency could be revealed in the upcoming summit.

The 16th BRICS summit is scheduled to take place in October 2024 in the Kazan region of Russia. For the first time, nine member countries will be a part of the summit due to the expansion.

Source: Thepressradio.com 

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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