South Africa intends to use its membership of BRICS to deepen trade, attract investment and expand economic cooperation, with President Cyril Ramaphosa arguing that the grouping should deliver more tangible benefits to households and businesses.
Writing after the 18th BRICS Summit in New Delhi, Ramaphosa said South Africa should use the grouping as a platform to strengthen economic ties while advancing a more representative international system. He said more than a fifth of South Africa’s trade is conducted with fellow BRICS members, underlining the bloc’s significance to the country’s external economic relationships. South African Presidency: From the Desk of the President
BRICS has expanded considerably since South Africa joined the grouping in 2010. The bloc now comprises Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the United Arab Emirates. Its enlargement has increased the potential market and diplomatic reach available to South Africa, while also making the grouping more diverse in terms of economic structures, political interests and development priorities. South African government: BRICS membership and the 2026 summit
Financial cooperation is another important component. South Africa is a founding member of the New Development Bank, which had approved 15 projects in the country with total financing of $6.62 billion by the end of 2025. Projects supported by the bank have included infrastructure in areas such as energy, water and transport. New Development Bank: South Africa member factsheet
South Africa also participates in the BRICS Contingent Reserve Arrangement, established with an initial size of $100 billion as a financial safety mechanism against short-term liquidity pressures. The arrangement provides a potential source of support during balance-of-payments difficulties, rather than representing funds that can routinely be deployed for domestic development spending. BRICS Contingent Reserve Arrangement: South African government record
At the New Delhi summit, South Africa pushed for greater use of local currencies, stronger cross-border payment systems and deeper financial connectivity. It also backed expanded cooperation in agriculture, science, technology, education and infrastructure, including investment aligned with the African Continental Free Trade Area. South Africa’s BRICS summit statement
For South Africa, however, the significance of BRICS will ultimately be measured less by diplomatic declarations than by whether expanded partnerships translate into productive investment, industrial capacity, trade diversification, employment and improved infrastructure. The enlarged grouping creates opportunities, but converting those opportunities into broad-based economic gains will depend on domestic policy, business participation and the ability of member states to implement agreements across markedly different economies.
The New Delhi Declaration itself emphasised practical cooperation while recognising the differing circumstances and priorities of member states. 2026 BRICS New Delhi Declaration
Ramaphosa’s message therefore reflects a broader South African objective: to make South-South economic relationships more consequential to domestic development while using BRICS to pursue greater agency for developing economies in global institutions.
