President William Ruto reportedly held bilateral talks with Chinese official Li Xi in Nairobi, aiming to deepen Kenya-China relations and secure China’s support for Kenya’s bid to join BRICS. Kenya and China have a strong partnership and are currently collaborating on numerous projects within the country. During the talks, President Ruto reaffirmed Kenya’s commitment to the “One China” policy and expressed Kenya’s desire to advance the strategic partnership across Africa. 

Kenya’s BRICS aspirations come as the group, originally founded in 2006 by Brazil, Russia, India, and China and later expanded with South Africa in 2010, now includes new members such as Egypt and Ethiopia. BRICS members collectively account for approximately 28% of the global economy, offering significant potential for economic collaboration.

From an economic standpoint, the bid to join BRICS is very beneficial for the country. The 2022 economic data survey from the African Development Bank indicates that BRICS is now Africa’s largest trading partner, with trade expected to reach more than $500 billion by 2030, with 60% coming from China.

BRICS is also becoming a significant investor in Africa, especially in the manufacturing and service sectors. Concerning foreign direct investment, BRICS countries have strengthened their presence on the African continent compared with traditional partners, such as the US and Europe.

Quite notably, Nigeria’s foreign capital inflow from BRICS nations surged to $1.27 billion by June 2024, a significant jump from $438.72 million during the same period in 2023, Nigerian Vice President Kashim Shettima said at the 2024 China-Africa Inter-Bank Association Forum in Abuja on Wednesday. He underscored the country’s commitment to strategic partnerships for growth by highlighting its burgeoning economic ties with BRICS nations, even as a non-member state.

Top of the 2024 priorities has been to further its growth by incorporating more member countries as member countries seek to onboard more members. Currently, over 40 countries are reported to have expressed interest in joining BRICS. Some of these countries include Gabon, Comoros, Algeria and the Democratic Republic of Congo (DRC).

The implications of Kenya joining BRICS

Joining BRICS would be a great growth opportunity for Kenya. However, the specific outcomes would depend on how effectively the country leverages the membership. 

Joining BRICS would give Kenya access to new markets, a great opportunity for the country to increase its exports and boost trade with the member countries. Considering that BRICS nations are major investors in Africa, this would also see a further increase in foreign direct investments in key sectors such as manufacturing and infrastructure. This is especially true in the wake of Kenya’s move towards embracing public-private partnerships.

As a member state, this would also reduce dependency on Western Aid. In 2014, the BRICS member states set up the New Development Bank to lend money and boost infrastructure among member states. The Bank offers guarantees, loans and other financial support mechanisms that would enable development in Kenya.

Joining BRICS would enable Kenya to create and deepen relationships with the other member states. This would also amplify Kenya’s voice in global economic and political affairs. Kenya would, therefore, be able to influence decisions and policies on trade, development, climate change, and other relevant sectors.

There have been notable advancements in technology, especially in Artificial Intelligence. Technological advancements have also increased the number of employment opportunities. Collaboration with advanced industries would foster technology transfer, enhancing Kenya’s industrial and technological capabilities.

Kenya stands to gain from cultural and educational exchange opportunities. Membership would enhance academic, technical, and cultural exchange programs. This exposure would improve skills and foster innovation among Kenya’s workforce.

Conclusion 

Kenya’s potential membership in BRICS would significantly bolster its economic growth, global influence, and development trajectory. However, it would require strategic planning to navigate associated risks. The country would need to balance how it aligns the interests of other global partners with national interests and how it would deal with competition from member states that are after the same opportunities.