{"id":51270,"date":"2023-09-01T09:59:40","date_gmt":"2023-09-01T09:59:40","guid":{"rendered":"https:\/\/www.africa-press.net\/rwanda\/all-news\/can-africa-count-on-an-expanded-brics-business-africa"},"modified":"2023-09-01T11:02:35","modified_gmt":"2023-09-01T11:02:35","slug":"can-africa-count-on-an-expanded-brics-business-africa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/rwanda\/economy\/can-africa-count-on-an-expanded-brics-business-africa","title":{"rendered":"Can Africa count on an expanded BRICS? [Business Africa]"},"content":{"rendered":"

Africa-Press – Rwanda. <\/strong><\/span>Beginning January 2024, membership of the BRICS will grow from five to eleven countries.<\/p>\n

Collectively, the bloc will be responsible for nearly 30% of global GDP. Using the Purchasing Power Parity (PPP) metric, that translates to 37%.<\/p>\n

BRICS share of the global population will jump to 46% thanks to Ethiopia and Egypt.<\/p>\n

The addition of energy powerhouses Saudi Arabia, Iran and the UAE means BRICS countries collectively control 43% of global oil production.<\/p>\n

The expansion of the grouping has been called monumental by many analysts, saying the event marks a shift in global power dynamics.<\/p>\n

Starved of attention and meaningful representation in many global forums, African countries are eyeing closer ties with an expanded BRICS.<\/p>\n

Our guest this week this week is Zemedeneh Negatu, Global Chairman of the Fairfax Africa Fund.<\/p>\n

Niger businesses feel weight of sanctions<\/b><\/p>\n

Sanctions by ECOWAS to force Niger to revert to civilian rule are devastating businesses. One drone maker says customers can no longer remit payments due to sanctions.<\/p>\n

He’s also unable to import materials and components.<\/p>\n

Modi backs G20 seat for African Union<\/b><\/p>\n

India says the African Union can become the newest member of the G20 this September.<\/p>\n

Prime Minister Narendra Modi has said this year’s G20 summit which convenes in New Delhi will put the concerns of developing countries first.<\/p>\n

For More News And Analysis About Rwanda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Rwanda. Beginning January 2024, membership of the BRICS will grow from five to eleven countries. Collectively, the bloc will be responsible for nearly 30% of global GDP. Using the Purchasing Power Parity (PPP) metric, that translates to 37%. BRICS share of the global population will jump to 46% thanks to Ethiopia and Egypt. […]<\/p>\n","protected":false},"author":84,"featured_media":51269,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[760,763,3475,3451,3473,3474,758],"class_list":["post-51270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-rwanda","tag-brics-summit","tag-china-africa-relations","tag-intra-africa-trade","tag-russia-africa-summit","tag-rwanda"],"yoast_head":"\nCan Africa count on an expanded BRICS? 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