BRICS bid: Ghana must equip local businesses to compete in emerging markets – Ghana-Russia Center

The Ghana-Russia Center for Commerce and Relations has stressed the need for Ghana to prepare its businesses and institutions to take advantage of opportunities that could emerge from the country’s planned membership of BRICS.

The Centre said Ghana’s formal application to join the grouping should not be treated as an end in itself, but as the beginning of a broader effort to position local businesses for increased trade, investment and technology partnerships.

Foreign Affairs Minister Samuel Okudzeto Ablakwa announced on October 6, 2026, that Cabinet had approved Ghana’s formal application to join BRICS.

The decision forms part of government’s broader strategy to diversify Ghana’s international partnerships and expand its economic opportunities, particularly through stronger cooperation with countries in the Global South.

The Ghana-Russia Center said the potential benefits of the move would depend largely on how effectively Ghanaian institutions and businesses position themselves to engage with the markets and investors within the grouping.

It stressed that membership alone would not automatically deliver economic gains.

The Centre said its own work had focused on building the relationships and practical links needed to turn diplomatic engagement into economic opportunities.

Those links, it noted, include “Trade corridors, investment interest, education and technology partnerships, mentorships, and a clearer Ghanaian presence in forums where the emerging economies set their own terms.”

The Centre’s Chief Executive Officer, John Aggrey, had earlier called for Ghana to move beyond discussions about BRICS and pursue practical cooperation.

Speaking to Sputnik Africa weeks before Cabinet approved the application, Mr Aggrey described BRICS as “the way forward” and called for “concrete steps and concrete actions.”

The Centre said that approach remains relevant as Ghana begins the formal process of seeking admission to the grouping.

It argued that stronger commercial links with BRICS countries could provide opportunities for Ghanaian companies to access new markets, attract investment and develop partnerships in technology and other strategic sectors.

However, the Centre said Ghana must ensure that local institutions and businesses have the capacity, information and networks required to compete and participate effectively.

The country’s application will now be considered by BRICS members before any admission decision is taken.

The Centre said it would continue working to strengthen Ghana’s commercial relationships with Russia and other BRICS counterparts during the process.

“The Center’s role in the weeks ahead is unchanged and now more visible to help make the case practical,” it said.

The ultimate objective, according to the Centre, is “so that a Cabinet decision becomes trade, investment and lasting cooperation.”