Finance

Ghana set to formally apply for BRICS membership – Ablakwa

Ghana is preparing to formally apply for membership of BRICS after Cabinet approved the decision to pursue membership of the bloc of emerging economies.

Foreign Affairs Minister Samuel Okudzeto Ablakwa announced the decision on Tuesday, October 6, 2026, during a joint engagement in Accra with India’s External Affairs Minister, Dr Subrahmanyam Jaishankar, who was on an official visit to Ghana.

According to Mr Ablakwa, the decision is part of the government’s efforts to diversify Ghana’s international partnerships and create additional opportunities for trade, investment and economic development.

He said Ghana’s interest in BRICS is also linked to the government’s broader economic transformation agenda, which seeks to move the country beyond economic stabilisation towards sustainable growth and industrialisation.

Mr Ablakwa stressed that pursuing BRICS membership would not mean Ghana is abandoning its existing relationships with traditional development partners.

He pointed out that Ghana remains a member of the International Monetary Fund and the World Bank, as well as a founding member of African multilateral financial institutions.

Instead, the minister said the government wants Ghana to have more options in its development partnerships while strengthening ties with countries in the Global South.

“BRICS offers us that opportunity to have options in development, and you want to have options,” Mr Ablakwa said.

He identified Brazil, Russia, India and China, the original BRICS members, as important partners for Ghana and said the country would engage existing members to seek support for its application.

The minister highlighted Ghana’s growing economic relationship with India, stating that bilateral trade had increased from approximately US$3 billion in 2024 to about US$7 billion.

He also identified China as a major economic partner and said Ghana’s engagement with BRICS would provide opportunities to deepen cooperation with countries with which it already has longstanding diplomatic and commercial relationships.

Mr Ablakwa further linked the proposed membership to the government’s emphasis on resource sovereignty.

He said Ghana wants to move away from exporting raw materials and instead develop partnerships that allow the country to add value to its natural resources, create jobs and promote industrialisation.

The minister said the government was preparing to submit the formal application and would seek the backing of BRICS members during the process.

India has indicated that it is supportive of Ghana’s interest in joining the bloc.

Dr Jaishankar said India had consistently supported Ghana’s aspirations and development goals, while noting that Ghana’s potential admission would ultimately be a matter for collective consideration by BRICS members.

BRICS began as BRIC, comprising Brazil, Russia, India and China, before South Africa joined. The grouping has since expanded to include Egypt, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates and Indonesia as full members.

Ghana’s proposed application would therefore begin a formal process that would require consideration and acceptance by the existing members of the bloc.

For the Mahama administration, the proposed application forms part of efforts to broaden Ghana’s international economic and diplomatic partnerships while maintaining its existing relationships with traditional development institutions and partners.

 

Source: Thepressradio.com

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