Ghana has approved the principle of submitting a formal application to join the BRICS, a group of emerging powers. The announcement was made on October 6 by Ghana's Minister of Foreign Affairs, Samuel Okudzeto Ablakwa. The news came during a visit to Ghana by his Indian counterpart, Subrahmanyam Jaishankar. Accra has already sought New Delhi's support for this initiative.
This initiative is primarily aimed at expanding opportunities for economic cooperation for the West African country. Ghana seeks to reduce its dependence on its traditional partners. The Ghanaian government intends to capitalize on new opportunities for trade, investment, and cooperation with emerging economies. For Accra, the benefits of joining BRICS thus extend beyond the diplomatic sphere alone.
The BRICS group was founded in 2009 by Brazil, Russia, India, and China, and was later joined by South Africa. The bloc is undergoing a significant expansion, opening its doors to other emerging economies and countries of the Global South. Egypt, Ethiopia, Iran, and the United Arab Emirates are among the new members. Indonesia has also joined the group as part of this expansion.
For Ghana, potential membership would allow it to increase trade with several major emerging economies. The country could attract more capital and develop new partnerships in strategic sectors. This move comes as Accra seeks to consolidate its economic trajectory and strengthen its room for maneuver. Such an initiative would also reinforce its presence within the cooperation mechanisms of the "Global South."
Follow us on WhatsApp | LinkedIn for the latest headlines
However, Ghana's efforts are still in their early stages. After the application is officially submitted, it will have to be reviewed by all BRICS members. India's support is an initial positive sign, but does not prejudge the outcome of the process. This expansion trend enhances the forum's appeal to countries seeking to diversify their economic and diplomatic relations.
Key Takeaways
Ghana's approval of the principle of applying for BRICS membership marks a significant step in its strategy for economic and diplomatic diversification. The group, originally formed by Brazil, Russia, India, and China in 2009 and later joined by South Africa, has recently undergone a major expansion, welcoming key nations such as Egypt, Ethiopia, Iran, the United Arab Emirates, and Indonesia.
This expansion significantly enhances the forum's appeal to countries in the "Global South" seeking to reduce their dependence on traditional partners and explore new avenues for economic and political cooperation. For Accra, the stakes are multifaceted: the goal is to expand avenues for economic cooperation, attract more foreign capital, increase trade with major emerging economies, and develop strategic partnerships in key sectors.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
This approach is part of a broader effort to consolidate its economic trajectory and strengthen its position and room for maneuver in an international environment where investment flows and global trade are undergoing a major realignment. Although the support of India, an influential member, is a positive sign, the accession process is still in its early stages and will require review and approval by all current members of the bloc.
