Ghana’s BRICS bid: Jinapor questions funding gains, warns of risks

The ranking member of Parliament’s Foreign Affairs Committee, Samuel Abu Jinapor, has called for closer scrutiny of Ghana’s proposed BRICS membership, warning that new funding opportunities and partnerships could carry consequences for the country’s national interests.

His comments follow Foreign Affairs Minister Samuel Okudzeto Ablakwa’s announcement that Cabinet has approved Ghana’s decision to formally apply to join the economic grouping.

The government says the bid would broaden Ghana’s options for development financing, trade, investment and industrialisation while complementing its existing relationships with traditional development partners.

Speaking on Joy FM’s Super Morning Show, Mr Jinapor acknowledged that membership could offer opportunities, but said the government and Parliament needed to examine the potential costs alongside the benefits.

“There’s absolutely no free lunch,” the Damongo MP said.

He argued that any foreign policy decision must serve Ghana’s national interest and urged the government to assess how closer ties with major BRICS countries could affect its economy and international relationships.

Questions over financing

Mr Jinapor questioned the extent to which access to the New Development Bank would give Ghana greater financial independence.

He said he had been told that access to funding could require authorisation from the International Monetary Fund, and asked what such a condition would mean for the government’s stated objectives.

The former Lands and Natural Resources Minister also called for an assessment of the implications of closer relations with China and Russia. He said the extent of Chinese influence on Ghana’s economy and national life should form part of that discussion.

Lessons from other countries

Mr Jinapor urged the government to study the experiences of countries that have already joined BRICS before proceeding.

“We need to take a look at what has been the experience of some of those countries which have joined,” he said.

He cited Ethiopia, which he said had experienced both benefits and challenges. He attributed funding opportunities to its engagement with the New Development Bank, while raising concerns about trade imbalances and increased imports from BRICS countries, particularly China.

Mr Jinapor also questioned how Ghana’s relationship with South Africa, a BRICS member, could affect its participation.

He described the bilateral relationship as poor and argued that its implications should be considered. The material provided does not include a government response to that assessment.

Parliamentary examination

Mr Jinapor said Parliament’s Foreign Affairs Committee had received a general briefing from the foreign minister but had yet to fully examine the proposed membership.

He acknowledged the government’s aim of diversifying international partnerships and strengthening cooperation with developing countries, while arguing that Ghana’s policy of non-alignment must also be considered.

He warned that some consequences of membership could be adverse to Ghana’s national interest and called for further reflection before the country proceeds.

The government’s stated position is that joining BRICS would expand Ghana’s choices without replacing its existing partnerships.

Cabinet’s approval concerns an application for membership. The supplied material does not establish that Ghana has submitted the application or been admitted to the bloc.