Ethiopia is a good strategic fit for Brics
The Horn of Africa powerhouse will enhance the group's influence not only in Africa but in the Middle East, writes David Monyae
21 April 2024 - 00:00
When Jim O’Neill, the former Goldman Sachs economist, coined the term Bric (Brazil, Russia, India, China) in 2001 to indicate the rising importance of Global South countries with huge populations and significant economic potential. it is fair to say he did not have Ethiopia in mind. Though it was one of the most populous countries in Africa with 67-million people at the time, its GDP was a mere $8.2bn with a paltry GDP per capita of $122 making it one of the poorest countries in the world. Fast forward 23 years and Ethiopia has officially joined the Brics group...
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