Commencing in January 2024, the BRICS alliance is set to expand significantly, encompassing eleven countries.
Together, this coalition will wield influence over nearly 30% of the global Gross Domestic Product (GDP). By adopting the Purchasing Power Parity (PPP) measure, this translates to a substantial 37%.
With the inclusion of Ethiopia and Egypt, the BRICS collective will lay claim to an impressive 46% of the global population.
Furthermore, the addition of energy giants such as Saudi Arabia, Iran, and the UAE solidifies the BRICS consortium’s dominance, as they jointly control a substantial 43% of the world’s oil production.
The expansion of this group is being hailed as a historic event by numerous analysts, signifying a noteworthy shift in global power dynamics.
In the midst of this transformation, African nations, often marginalized and underrepresented in global forums, are actively seeking closer ties with an enlarged BRICS.
Niger’s economy feels the strain of sanctions imposed by ECOWAS, aimed at compelling a return to civilian governance. These sanctions are wreaking havoc on businesses, with one drone manufacturer reporting that customers are struggling to make payments due to the sanctions, and importing essential materials and components has become a formidable challenge.
In a notable development, Indian Prime Minister Narendra Modi has endorsed the inclusion of the African Union in the G20, expected to be formalized this September during the G20 summit in New Delhi. Modi has underscored the summit’s commitment to prioritizing the concerns of developing nations.
