The priority given to political news very often relegates economic and strategic issues that deserve debate. This is the case of Senegal’s candidacy for the Brics, the grouping of emerging countries composed of Brazil, Russia, India, China and South Africa. If on the side of Dakar, it is total silence, in Pretoria on the other hand, the information is in the public square since this Monday, August 21, 2023.
At a press briefing on Monday, August 7, 2023, Naledi Pandor, the South African Minister of Foreign Affairs and International Relations gave the list of about twenty countries candidates for the integration of the Brics. Among these countries, there is Senegal alongside other Africans such as Nigeria, Algeria, Egypt or Morocco (official denial from the Kingdom), but also powers of Asia such as Saudi Arabia and Iran. This issue of integration will be discussed by the 4 countries (Putin being absent), during the Brics summit scheduled in South Africa from tomorrow (22 to 25 August).
«The Brics represent about 42% of the world’s population, nearly 30% of the world’s territory, 27% of the world’s Gdp and 20% of international trade», says Media24. These countries especially want to get out of their dependence on the US dollar for more margin. To this end, a bank called the New Development Bank (NDB) was created in 2015.
According to Financial Afrik, the bank announced on August 15 the issuance of bonds denominated in South African rands on the country’s market.
It remains to be seen what Senegal’s place is in the midst of these economic powers. Indeed, despite the word emergence repeated everywhere, Senegal was ranked in 2022 by the UN among the 46 least developed countries in the world, in other words, the poorest. Dakar says it has already started the process of exiting this category and hopes to gain another status soon. «Our desire is to start the exit strategy, while taking advantage of our LDC status,» said the Ministry of the Economy. But until then, Senegal remains a modest country economically.
However, it could have a strategic role, particularly for China and Russia, which are seeking to extend their influence in Africa vis-à-vis the Western bloc. Due to its geographical position, Senegal could be an asset for the Brics.
