Beginning January 2024, membership of the BRICS will grow from five to eleven countries.
Collectively, the bloc will be responsible for nearly 30% of global GDP. Using the Purchasing Power Parity (PPP) metric, that translates to 37%.
BRICS share of the global population will jump to 46% thanks to Ethiopia and Egypt.
The addition of energy powerhouses Saudi Arabia, Iran and the UAE means BRICS countries collectively control 43% of global oil production.
The expansion of the grouping has been called monumental by many analysts, saying the event marks a shift in global power dynamics.
Starved of attention and meaningful representation in many global forums, African countries are eyeing closer ties with an expanded BRICS.
Our guest this week this week is Zemedeneh Negatu, Global Chairman of the Fairfax Africa Fund.
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He's also unable to import materials and components.
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