Ghana considering BRICS membership to boost economic growth - Ablakwa

• Ghana is considering joining BRICS to diversify its international economic partnerships.

• Ablakwa says BRICS could create more options for investment, trade and economic growth.

• He says Ghana will maintain its traditional partnerships while strengthening ties with India, China and Brazil.

Mr Ablakwa said the government sees BRICS as an opportunity to support Ghana's economic transformation agenda while strengthening ties with countries such as India, Brazil and China.

Speaking on October 6 during the official visit of India's External Affairs Minister, Dr Subrahmanyam Jaishankar, to Ghana, Mr Ablakwa said Ghana was moving from economic stabilisation towards a transformative economic path.

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“BRICS offers an incredible opportunity that aligns with his vision for economic growth. You do know that we are moving from stabilisation now to a transformative economic path, what we are calling the new economy, and Cabinet has approved seven pillars under that new economy to anchor the President's new economic vision.”

He said joining the bloc would give Ghana more options in its development partnerships without abandoning existing relationships with institutions such as the International Monetary Fund and the World Bank.

“We believe that we must diversify our international cooperation. You do know that we are members of the IMF, we are members of the World Bank, and we are also founding members of the African Multilateral Financial Institutions, and AFRIEXIM.”

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“So BRICS offers us that opportunity to have options in the development agenda. You want to have options. We are not going to walk away from our traditional partners. We value that relationship, but we must have new friends, and we must also begin to look at our historical partners like India, Brazil, and China.”

Mr Ablakwa pointed to Ghana's growing economic relationship with India, saying trade between the two countries had more than doubled.

“If you look at our trade volumes with India, it has more than doubled. In 2024, we were around $3 billion. We are now speaking in the region of $7 billion. So this is an important partner.”

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He also cited China's economic importance to Ghana and said BRICS could support the country's ambition to achieve sustainable growth, create jobs and industrialise.

“We want economic growth which is sustainable, which creates jobs, which industrialises our country. We want resource sovereignty where we can be treated as equal partners.”

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“We don't want a situation where we continue to export raw materials. We want to add value to the natural resources that we have, and we want to work with partners who have the same shared history and shared commitments.”

BRICS was originally formed by Brazil, Russia, India and China, with South Africa joining later. The group has since expanded its membership and seeks greater economic and political cooperation among emerging economies.