Africa on the verge of economic leadership... BRICS are betting on the continent
As the next engine of global trade
Written by Omnia Hassan
With the accelerating shifts in the global economy, attention is turning to Africa as one of the most prominent emerging powers capable of leading the next wave of growth. During the St. Petersburg International Economic Forum 2026, leaders of the G20 countries emphasized BRICS The African continent has the necessary elements to become a major center for trade and investment in the coming decades.
BRICS strengthens its presence in the global economy
Russian President Vladimir Putin confirmed that the BRICS group now represents about 40% of global GDP according to purchasing power parity, and has contributed approximately 49% to global economic growth over the past five years.
He explained that the volume of trade between the bloc's countries exceeded one trillion dollars, while its share of global trade and advanced technology exports increased significantly, reflecting a gradual shift of economic power centers from traditional economies to emerging markets.
Putin noted that the BRICS countries have become key players in modern technology sectors, citing China’s leadership in artificial intelligence patents, India’s position in the software industry, and Russia’s development in digital services and nuclear energy.
Africa is the market of the future and a major growth opportunity.
For her part, Tanzanian President Samia Suluhu Hassan affirmed that Africa possesses all the elements that qualify it to be one of the most important regions of economic growth globally.
She explained that projections indicate that one in four people in the world will be African by 2050, while the continent will be home to nine of the world's twenty fastest-growing economies.
She added that the expansion of the African middle class to more than one billion people, along with the development of the African Continental Free Trade Area, gives the continent growing economic power and unprecedented investment opportunities.
From the margins of the economy to the center of influence
Hassan stressed that Africa is no longer just a destination for foreign investment, but has become an active partner in shaping the course of global development through its strategic initiatives and the African Union’s Agenda 2063.
She also reviewed Tanzania’s experience, which succeeded in attracting $12 billion in foreign direct investment during 2025 thanks to economic reforms and improvements in the business environment.
The forum's outcomes reflect a growing conviction among emerging economies that the global economic future will be more diversified, with Africa emerging as one of the most prominent new drivers of trade, investment and growth in the coming decades.
