Engendering Business Prospects in Sub-Saharan Africa: Assessing the Contribution of BRICS

Abstract

The main aim of the study is to investigate the intricate correlation between Sub-Saharan African countries and the BRICS nations, with an emphasis on the latter's opportunities, challenges, and contributions. The historical and theoretical underpinnings are established through the exhaustive literature review. An examination of economic indicators reveals a positive trend in trade volumes and sector-specific observations, suggesting the development of a mutually advantageous partnership. A multitude of obstacles, including security concerns and economic disparities, necessitate the implementation of region-specific, adaptable strategies. Opportunities for reciprocal development include technological collaboration and investments in infrastructure. The work highlights the diverse and significant contributions made by the BRICS through economic endeavours and diplomatic cooperation. Favourable trade trends and sector-specific analyses establish a strong basis for formulating policies, unveiling prospects for reciprocal economic expansion. Difficulties highlight the criticality of strategic planning, whereas prospects indicate the possibility of cooperative, ground breaking undertakings. In summary, the dynamic relationship between the BRICS and Sub-Saharan Africa encompasses a range of intricacies and potentialities. By navigating these obstacles, both regions have the opportunity to cultivate a resilient and mutually beneficial economic partnership while contributing to sustainable business development. The study provides policymakers with valuable insights, underscoring the significance of collaborative efforts, strategic planning, and balanced economic theories in determining the future course of this relationship.