Monetary de-dollarisation and increased internal trade in local currencies, regional representation and geostrategic interests were among the factors motivating the decision to increase the number of member countries from the current five – Brazil, Russia, India, China and South Africa – to 11 by 2024.
South Africa’s stance on Russia’s war in Ukraine and the adverse effects of the conflict on African countries are expected to feature in a meeting between U.S. Secretary of State