David Ofosu Dorte, Senior Partner at AB and David Africa has stated it is time for Ghana to consider joining BRICS, the influential economic bloc comprising Brazil, Russia, India, China, and South Africa.
Speaking on the Citi Breakfast Show during a segment titled 30 Days into Mahama’s Government: What Have We Learnt So Far?, Dorte emphasised the need for Ghana to align itself with the growing economic power of BRICS nations to boost its productivity and global standing.
Dorte in exploring the potential benefits of joining the bloc, argued that Ghana’s current economic challenges, including its debt-to-GDP ratio, could be better addressed by increasing its production capacity, a key focus of BRICS countries.
“I think it is about time we also apply to join BRICS. We are underestimating BRICS. This whole thing about the world is about your production capacity. That is why I say I like the 24-hour economy, provided it will be turned into a stimulant to solve our productivity problem. Your capacity production as a nation is very important,” Ofosu Dorte stated.
He further explained that the BRICS nations collectively account for approximately 35% of global output, making them a significant force in the global economy.
By joining BRICS, Ghana could gain access to new markets, investment opportunities, and technological advancements, which could help address its economic challenges.
“I hear people talk about the debt-to-GDP ratio too much. It is not much about the percentage but it is about how much you produce. If you take the BRICS countries together, they are producing about 35% of the total global output and that is significant. So, if we have other countries lining up and we join them, we will get a few advantages. So, why are we staying out? We should be applying. But that doesn’t prevent us from continuing our relationship with the West,” he added.
