BRICS has emerged as an influential platform for economic cooperation and diplomatic engagement among some of the world’s major emerging economies.
With an expanding membership, growing calls for reform of global institutions, and deeper cooperation in trade, finance, and development, the bloc has become an important player in international affairs.
Originally formed around Brazil, Russia, India, and China, BRICS has expanded to include countries from Africa, the Middle East, and Southeast Asia. Its growth reflects the ambitions of emerging economies to strengthen their collective influence in global decision-making and diversify their economic partnerships.
But what exactly is BRICS, how does it operate, and what does its expansion mean for Africa and countries such as Ghana? Here is everything you need to know.
What is BRICS?
BRICS is a grouping of countries that cooperate on economic, political, financial and development issues. It provides a platform for member states to discuss shared interests, coordinate positions on international issues and advocate for greater representation of emerging economies in global governance.
The name originally came from the initials of Brazil, Russia, India and China, which were identified as major emerging economies. South Africa joined in 2011, adding the letter “S” and transforming BRIC into BRICS.
The grouping has since expanded. Egypt, Ethiopia, Iran and the United Arab Emirates joined in 2024, while Indonesia formally became a full member in January 2025. Saudi Arabia was invited to join during the 2023 expansion process, although its formal membership status has been treated differently across official sources.
BRICS is not a military alliance or a conventional international organisation with a central governing authority. Instead, it operates as a forum for cooperation, with participating countries retaining their national sovereignty and independent foreign policies. It does not have a founding treaty, a permanent secretariat or a central general budget.
Which countries are members of BRICS?
BRICS has expanded significantly since its formation, bringing together countries from Latin America, Africa, Asia and the Middle East.
The following countries are commonly identified as full members, although Saudi Arabia’s status should be verified against the latest official BRICS records.
- Brazil: A major Latin American economy with substantial agricultural, mineral and energy resources.
- Russia: A major producer of energy and other natural resources.
- India: A large and rapidly developing economy with significant technology, manufacturing and services sectors.
- China: A global economic power with major manufacturing, trade and investment capabilities.
- South Africa: An important African economy with a prominent role in regional and continental affairs.
- Egypt: A North African country with strategic importance in trade, transport and regional diplomacy.
- Ethiopia: An East African country with a large population and an influential role in regional affairs.
- Iran: A Middle Eastern country with substantial energy resources and strategic regional importance.
- United Arab Emirates: A major international centre for trade, logistics, finance and energy.
- Indonesia: Southeast Asia’s largest economy by nominal GDP and an important regional player.
- Saudi Arabia: A major oil producer and an influential economy in the Middle East that was invited to join during the 2023 expansion process.
These countries bring different economic strengths, political interests and development priorities to the grouping. Their participation gives BRICS a broad geographical reach and strengthens its role in discussions about global economic governance.
How did BRICS begin?
The term BRIC was coined in 2001 by economist Jim O’Neill to describe the economic potential of Brazil, Russia, India and China. The four countries subsequently developed their cooperation into a government-led diplomatic forum.
The first BRIC summit took place in Russia in 2009, allowing leaders to discuss the global economy, financial cooperation and reform of international institutions.
South Africa joined in 2011, broadening the group’s geographical representation and bringing a major African economy into the fold.
Another major expansion was announced at the 2023 summit in Johannesburg, South Africa. Several invited countries subsequently joined, and Indonesia became a full member in 2025.
This expansion has increased BRICS’ international reach while introducing a wider range of economic interests and diplomatic priorities.
What are the main objectives of BRICS?
BRICS pursues several objectives aimed at strengthening cooperation among its members and increasing their influence in international affairs.
1. Reforming global institutions
One of the bloc’s key priorities is reforming institutions such as the International Monetary Fund (IMF), the World Bank and the United Nations. Members argue that global decision-making structures should better reflect the economic importance and interests of developing countries.
2. Increasing trade and investment
BRICS encourages trade among its members, investment partnerships and cooperation in sectors such as infrastructure, agriculture, manufacturing, energy and technology.
3. Promoting financial cooperation
The grouping explores ways to facilitate cross-border payments, encourage the use of national currencies in bilateral trade where mutually beneficial, and strengthen financial cooperation among participating countries.
4. Supporting economic development
Members cooperate on issues including poverty reduction, sustainable development, food security, public health and technological advancement.
5. Strengthening the voice of emerging economies
BRICS gives members a platform to coordinate positions on international issues and advocate for a more representative global economic and political system.
However, members do not always agree on international conflicts, trade policies or economic priorities. Cooperation generally relies on consultation and consensus rather than a binding common foreign policy.
What is the BRICS New Development Bank?
One of the most significant institutions associated with BRICS is the New Development Bank (NDB), established in 2015.
The bank was created to mobilise resources for infrastructure and sustainable development projects in BRICS countries and other emerging and developing economies.
Its financing priorities include transport, clean energy, water and sanitation, urban development and other projects that support long-term economic growth.
The NDB is particularly relevant to developing countries that face substantial financing requirements for roads, electricity, water systems and other essential infrastructure.
By providing an additional source of development finance, the bank can complement funding from existing international financial institutions and other lenders.
However, access to its financing depends on membership arrangements, project assessments, lending conditions and approval procedures. The bank’s existence does not mean that every BRICS country or African state automatically qualifies for loans.
What are BRICS partner countries?
BRICS has introduced a partner-country category for countries seeking closer cooperation with the grouping without becoming full members.
The countries commonly identified as BRICS partners include Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam. Their status and participation arrangements should be checked against the latest official BRICS announcements.
Partner countries may be invited to participate in BRICS summits and selected meetings, subject to the group’s arrangements and members’ agreement.
Their status differs from full membership. Attending a BRICS event, expressing interest in joining or participating in a related initiative does not automatically make a country a full member or partner.
The framework allows BRICS to expand its engagement with other countries while providing a pathway for closer cooperation.
Why is BRICS important to Africa?
Africa has a significant interest in BRICS because several member countries maintain strong economic and diplomatic ties with the continent.
South Africa, Egypt and Ethiopia are members, while Nigeria and Uganda have been included in the partner-country framework. Other African countries can also engage with BRICS members through bilateral agreements, trade relationships and development initiatives.
BRICS cooperation could create opportunities for Africa in several areas.
Trade and investment: African businesses could gain access to additional markets for agricultural products, minerals, manufactured goods and services.
Infrastructure financing: Development partnerships could support transport networks, renewable energy, water systems and industrial projects, depending on financing conditions and project viability.
Industrial development: Cooperation in manufacturing, technology and skills development could help African economies move beyond exporting raw materials.
Diplomatic representation: BRICS offers African countries additional opportunities to discuss international economic reforms, debt, climate finance and development priorities.
Nevertheless, these benefits are not guaranteed. African countries must negotiate favourable agreements, protect domestic industries and ensure that partnerships deliver measurable economic benefits.
What does BRICS mean for Ghana?
Ghana is not a full member of BRICS and has not been included among the commonly listed partner countries. Its status should be confirmed against the latest official announcements before publication.
Nevertheless, Ghana can benefit from stronger economic engagement with BRICS members through trade, investment, industrial development and diplomatic cooperation.
Potential areas of cooperation include agriculture, mining, manufacturing, renewable energy, digital technology and infrastructure.
For example, Ghana could pursue investments that support the local processing of minerals and agricultural products rather than relying heavily on exports of unprocessed commodities.
Stronger commercial relationships with BRICS economies could also open new markets for Ghanaian businesses and provide opportunities to source machinery, technology and industrial inputs.
At the same time, Ghana would need to assess the terms of individual partnerships carefully. Debt sustainability, local employment, technology transfer, environmental protection and the competitiveness of domestic businesses would all be important considerations.
Importantly, BRICS membership is not a prerequisite for trade or investment with its members. Ghana can pursue bilateral agreements and commercial partnerships independently.
Does BRICS want to replace the US Dollar?
One issue frequently associated with BRICS is the role of the US dollar in international trade and finance.
Some members have advocated for greater use of national currencies in transactions between participating countries. Such arrangements could reduce certain currency-conversion costs and lessen exposure to exchange-rate movements involving the dollar.
The bloc has also discussed ways to improve cross-border payment systems and strengthen financial cooperation.
However, efforts to increase the use of national currencies should not be confused with the creation of a common BRICS currency.
BRICS has not established a single shared currency that has replaced the US dollar. Any significant shift in global currency use would depend on factors such as financial-market depth, currency convertibility, investor confidence, trade patterns and the willingness of businesses and governments to adopt alternatives.
The US dollar continues to play a major role in international trade, central-bank reserves and global financial markets.
What challenges does BRICS face?
Despite its growing influence, BRICS faces several challenges that could affect its ability to achieve its objectives.
Different political and economic priorities: Members have different political systems, economic structures and foreign-policy interests, making it difficult to reach common positions on every issue.
Unequal economic influence: China’s economy is considerably larger than those of many other members, raising questions about the balance of influence within the grouping.
Geopolitical tensions: Disagreements among members and tensions involving their international partners can complicate cooperation.
Expansion and coordination: A larger membership introduces a wider range of interests that must be accommodated when reaching decisions.
Delivering practical results: The grouping must demonstrate that its initiatives can translate into tangible outcomes in trade, investment, development finance and international cooperation.
Ultimately, BRICS’ future influence will depend not only on the size of its membership but also on its ability to translate shared objectives into effective policies and sustainable partnerships.
Conclusion
BRICS has evolved from a grouping of four emerging economies into a broader international platform with an expanding membership and a growing network of partner countries.
Its focus on trade, investment, development finance and reform of global institutions has made it increasingly relevant to discussions about the future of the international economic order.
For Africa and Ghana, the bloc presents potential opportunities for investment, industrialisation, trade diversification and diplomatic engagement. However, the benefits will depend on the quality of individual agreements and the ability of countries to protect and advance their national development priorities.
Ultimately, BRICS is best understood as a platform for cooperation among countries seeking a greater role in global affairs, rather than a unified political or economic system in which all members share identical interests.
