Ghana seeks BRICS membership to boost trade, investment

Ghana is set to formally pursue membership of BRICS as part of the government’s efforts to diversify the country’s international economic partnerships and create new opportunities for trade, investment and industrialisation.

The Minister for Foreign Affairs, Mr Samuel Okudzeto Ablakwa, said Cabinet had approved Ghana’s interest in joining the grouping, with the country now preparing to take the necessary steps to formally apply for membership and seek the support of existing BRICS members.

He made this known at a joint press briefing with the visiting External Affairs Minister of India, Dr Subrahmanyam Jaishankar, in Accra on Tuesday.

Mr Ablakwa said the decision was informed by the Mahama administration’s vision of moving Ghana beyond economic stabilisation towards a transformative “new economy” driven by sustainable growth, job creation and industrialisation.

He said BRICS offered Ghana an opportunity to diversify its development partnerships and have more options in pursuing its economic agenda.

“We are not going to walk away from our traditional partners. We value that relationship. But we must have new friends,” he said.

The Minister said Ghana’s membership of the IMF and World Bank would not prevent it from deepening cooperation with other international groupings and partners.

He pointed to the role played by the African Export-Import Bank (Afreximbank) during Ghana’s recent financial crisis, noting that the institution provided about US$700 million in support.

According to him, Ghana’s interest in BRICS was also linked to its growing economic relations with countries within the grouping, particularly India and China.

He said trade between Ghana and India had more than doubled, rising from about US$3 billion in 2024 to nearly US$7 billion.

Mr Ablakwa said Ghana wanted to use its international partnerships to promote value addition to its natural resources instead of continuing to depend heavily on the export of raw materials.

“We want resource sovereignty, where we can be treated as equal partners,” he said.

He said the country also wanted partners who shared its commitment to industrialisation, job creation and sustainable economic growth.

Mr Ablakwa said Ghana’s interest in BRICS was consistent with President John Dramani Mahama’s foreign policy priorities, particularly the pursuit of greater economic independence and a multipolar international system.

He noted that Ghana already enjoyed strong diplomatic relations with the original BRICS members, Brazil, Russia, India and China, as well as South Africa and newer members including the United Arab Emirates, Saudi Arabia and Iran.

“We know we can count on them to support Ghana’s bid,” he said.

On his part, Dr Jaishankar welcomed Ghana’s interest in BRICS and said India had always been sympathetic to Ghana’s aspirations and goals.

He explained that BRICS brought together countries with a strong sense of independence and a desire for freedom of choice, adding that their cooperation across diverse regions strengthened their collective position.

Dr Jaishankar said Ghana’s interest in joining the grouping was therefore understandable.

He, however, noted that membership was subject to collective consideration by BRICS members.

“Where we are concerned, we have always been very sympathetic and supportive of Ghana’s aspirations and goals,” he said.

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