The Pros of South Africa's Membership of BRICS : A Re-Appraisal

South Africa's entry into BRICS has thrown up a number of prospects and challenges for the country. These advantages are said to relate to trade and market access, foreign direct investment and, above all, increased bargaining power and a voice in international issues. BRICS membership enables South Africa to absorb the shocks and threats of globalisation. The country's membership also enhances its reputation as one of the leading advocates for the reform of multilateral institutions including the World Trade Organisation, the World Bank, the International Monetary Fund and the United Nations Security Council. This paper highlights the prospects and gains of South Africa's membership of BRICS in light of the numerous challenges this portends. This becomes imperative as questions abound as to the import of South Africa's membership in BRICS since it continues to be downgraded by rating agencies particularly from 2014.