By: David Shoombe
The inclusion of two more African economic powerhouses in this year’s BRICS annual summit signals a potential shift in African countries’ economic diplomacy and strategic alliances toward this developing institution.
The summit, which took place earlier this year, welcomed the United Arab Emirates, Iran, Egypt, and Ethiopia as new members of BRICS, boosting the alliance’s global influence.
With BRICS+ now estimated to have a combined Gross Domestic Product (GDP) exceeding $30 trillion – around 30% of the world’s total GDP – the group’s expanded reach could reshape the global market and alter international business practices.
Comments