A call to action: AFDB urges BRICS alliance to expand its footprint in Africa

The African Development Bank Group’s leadership is urging the expansion of the BRICS alliance in Africa for trade and investment opportunities. Prof. Vincent O. Nmehielle emphasized the potential growth opportunities for the continent with the inclusion of emerging economies like Brazil, Russia, India, China, and South Africa.

At an event during the African Development Bank’s 2024 Annual Meetings in Nairobi, Nmehielle highlighted the importance of BRICS Plus, which now includes new African members Egypt and Ethiopia, as well as Iran and Argentina. This expansion strengthens the relationship between BRICS nations and Africa.

Busi Mabuza, Chairperson of the South African Chapter of the BRICS Business Council, emphasized the benefits of exploring opportunities within the BRICS Plus countries. These nations are emerging economies with a growing middle class and significant consumer market.

The event also focused on strategies for leveraging the African Continental Free Trade Area, attracting private capital, and addressing trade barriers. Mpumi Mabuza of Brand South Africa highlighted the country’s green economy and investment projects, while Nmehielle stressed the need for collaboration to address the infrastructure and investment deficit in Africa.

Overall, the event aimed to foster dialogue and cooperation between BRICS nations and African countries, with a focus on driving transformative investments in key sectors. The participants expressed optimism about the potential for BRICS partnerships to contribute to a more prosperous and integrated Africa.

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