Connect with us

Hi, what are you looking for?


5 countries join BRICS 

5 countries join BRICS

BRICS, also known as Brazil, Russia, India, China, and South Africa, welcomed five new members on January 1, 2023. Saudi Arabia, Egypt, the United Arab Emirates, Iran, and Ethiopia. Originally planned to join in August 2023 at the 15th BRICS summit in Johannesburg, Argentina withdrew its invitation in December.

Formed in 2006, BRICS serves as an essential platform for collaboration among emerging markets and developing countries. The expansion of the group aims to enhance its influence on the global stage.

The combined population of the newly expanded BRICS is approximately 3.5 billion, with a collective economy valued at over $28.5tn, representing about 28% of the global economy. While this growth may alter the geopolitical landscape, analysts are uncertain whether it will benefit or hinder BRICS members. Some experts worry that internal differences within the group may weaken decision-making and overall power.

However, the expansion offers an opportunity for greater representation of emerging economies and the chance to reduce reliance on the US dollar. In August 2022, the President of Brazil proposed adopting a common currency for trade and investment among BRICS nations. Russia has assumed the presidency of BRICS, succeeding South Africa. With the theme “Strengthening Multilateralism for Equitable Global Development and Security,” Russia will hold the chair for one year, culminating in the BRICS annual summit in Kazan in October.

Russian President Vladimir Putin aims to elevate BRICS’ role in the international financial system and actively support the smooth integration of new participants into its activities.

There is a good reason why you should support the African Editors. Not everyone can afford to pay for news right now. That is why we keep our journalism open for everyone to read, including in Ghana. If this is you, please continue to read for free. But if you are able to, then there are three good reasons to support us today.

1. Our quality, journalism is a scrutinising force at a time when the rich and powerful are getting away with more and more.

2. We are independent and have no billionaire owner pulling the strings, so your money directly powers our reporting.

3. It doesn’t cost much, and takes less time than it took to read this message.

Help power the African Editors' journalism for the years to come, whether with a small sum or a larger one. If you can, please support us on a monthly basis from just 1 Ghana Cedi through mobile money number: 0599896099/ +23359989609 and you can be rest assured that you’re making a big impact every single month in support of open, independent journalism. Thank you.

Click to comment

Leave a Reply

You May Also Like


Kagame Tells Europe that Africa Doesn’t Need Adult Supervision but Fair Trade.    There is a good reason why you should support the African...


At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos.


Daasebre Oti Boateng introduces Root-Based Model to Akufo-Addo, Bawumia, commends them for 2021 Census & Covid-19 fight Omanhene of New Juaben, Chancellor of All...


Neglected tropical diseases rising in E/R- GHS Eastern Regional Health Directorate says there is disturbing increase in cases of neglected tropical Diseases in the...

Copyright © 2023, Ltd was developed by Wordswar Technology & Investment, Inc. Contact us on +233246187160

%d bloggers like this: