The cooperation between Africa and the BRICS has gained new momentum and generated much interest in recent years. This is because these countries, particularly Brazil, China, India and South Africa, have begun playing an increasingly prominent role in global trade, finance, investment and governance. Within this trend, Africa has deepened its engagement with these countries, not only in terms of trade, investment and development finance, but also in terms of diplomatic and cultural relations. The size of the BRICS economies, their economic potential and their demand for a stronger political voice on the international platform make them particularly relevant to Africa’s development.
What effect could BRICS trade, investment and aid have on growth, employment and structural transformation in Africa? How can Africa maximize the positive effects of its interactions with the BRICS, and minimise the costs? This study undertakes a comparative analysis of the BRICS practices in their cooperation with Africa, and their implications for addressing the pressing challenges of strong and sustained economic growth, employment and structural transformation in Africa.
The greatest impact of BRICS on Africa will emanate through three key channels: Trade, investment and development assistance. Already, in all three areas, the impact of BRICS is being felt strongly across the continent although significant differences exist in the breadth and depth of each BRICS country’s engagement in Africa. Read More - Capital Finance International (CFI.co)
