Does the “Brex” bloc a real opportunity for Africa or a transition to a new domination? | economy

With the launch of the “Brix” group on Sunday in the Brazilian city of Rio de Janeiro, the pace of African countries is accelerating to the bloc, which presents itself as the voice of the global south.

But several questions arise: Does “Brix” represent a real opportunity for the continent, or is it just a transition from one pattern to another?

Recently, countries have joined like Egypt Ethiopia And Saudi Arabia and the UAE And Iran To the group that includes Brazil And Russia India China South Africa, while Indonesia joined it at the beginning of the same year.

According to a report published by the “Africa Report”, the Senegalese Foreign Minister, Yassin Fall, last April, revealed that her country was holding talks to join “Brex”, and described the bloc as “a good alternative to the countries of the south.”

As for Algeria, despite considering joining a priority during the year 2023, its request was not accepted due to the limited economic diversity and its great dependence on hydrocarbons.

However, the group has created what is known as the “Partners Club”, which is an informal ranking that includes countries like Algeria کجريمة Uganda, is seen as a preliminary stage for full membership, according to the same source.

The motives for joining

According to the report, the motives of African countries are multiple to join “Brex”, the most prominent of which is the diversification of commercial partners, the enhancement of cooperation between the countries of the south, and the pursuit of alternative financing through the “New Development Bank” of the bloc.

Although the bank announced investments exceeding 40 billion dollars in more than 120 projects, it has not yet funded any African project.

Last May, Algeria became the ninth contributor to the bank, with a capitalist contribution of $ 1.5 billion.

The bank is seen as an alternative to the World Bank, due to its failure to impose “political conditions” on loans, according to the Algerian newspaper Al -Watan, which is welcomed by countries that seek to preserve their sovereignty.

In the same context, the Ugandan Foreign Minister, Henry Odelo Oureim, stated last January that his country decided to join “BRICS” after it witnessed the freezing of the origins of African countries before US The European Union, considering respect for sovereignty one of the principles that attract the bloc.

Possible gains

Despite the continuous expansion, the report concluded that joining the Emerging Economics Club provides only limited economic gains for the continent, but it provides it with opportunities to expand its alliances, and it may help it, with political realism, to maneuver between the major global powers to obtain better conditions.

While the motives appear stimulating, joining the “BRICS” remains not guaranteed, and is subject to strict economic and political standards.

Also, the bloc, despite its expansion, is still facing challenges in achieving a real balance between its members, especially in light of the economic dominance of major countries such as China and India.