Russia takes over BRICS presidency, an opportunity for African countries
The BRICS family is expanding, with new countries, including two African nations, officially joining the bloc that previously consisted of Brazil, Russia, South Africa, India, and China. The newcomers are Egypt and Ethiopia.
For these countries, joining BRICS represents an opportunity to reposition themselves economically within this space of economic exchange and political and commercial cooperation.
Especially with Russia assuming the presidency of the bloc, this development can bring additional benefits to African countries currently seeking new economic partners. According to Hyacinthe Wendlarima Ouedraogo, a Burkinabé teacher-researcher at Nazi Boni University in Burkina Faso, this opportunity allows African countries to escape from the current global financial system.
« When considering that some African countries are seeking alternatives in international global transactions, alternatives in terms of economic partnerships, then this Russian presidency seems like an opportunity that these African countries could exploit to better position themselves », he explained.
With more members, 50% of the world’s population, and one-third of its GDP, the BRICS nations are determined to achieve their goal of overturning the global economic order by challenging Western economic hegemony.
