South Africa: President Cyril Ramaphosa Calls on BRICS to Reform the Economy

Source: Africa 24 | Original Published At: 2026-09-13 13:09:17 UTC

Key Points

• At the BRICS Business Forum in New Delhi on 11 September 2026, South African President Cyril Ramaphosa called on BRICS governments and business leaders to use the bloc as a lever for trade and investment.
• He said BRICS should help restructure the global economic model and revitalize the economies of the Global South.
• Ramaphosa pointed to challenges such as unilateralism, sanctions and conflicts, but said adversity can also create opportunities.
• He stated that the 18th BRICS Summit should help build a more resilient and inclusive economic future for the Global South.
• He urged BRICS members to move beyond the role of raw-material suppliers by localizing production, adding value and developing skills.
• Ramaphosa said the key question is whether BRICS has the ambition, instruments and partnerships needed to convert its potential into economic value for its populations.
• The article notes that BRICS represents 40% of global GDP and nearly half of the world's population, with internal exports reaching $1.17 trillion in 2024.