International Relations Analyst and Development Consultant, Dr Elvis Botah, has warned that Ghana risks becoming a market for powerful BRICS economies and exposing its natural resources to further exploitation without a clear industrial strategy.
He argues that while joining BRICS could expand Ghana’s trade and investment opportunities, the country may end up benefiting less than industrial giants such as China, India, Brazil and Russia.
“For me, we would be shooting ourselves in the foot. We would be expanding our partners geopolitically and opening our doors for more exploitation of our primary commodities,” he cautioned.
His concerns follow Foreign Affairs Minister Samuel Okudzeto Ablakwa’s clarification that Ghana intends to seek BRICS partner-country status rather than immediate full membership.
Government believes closer ties with the grouping could attract investment, promote industrialisation and diversify Ghana’s economic partnerships.
But Dr Botah fears Ghana’s continued reliance on raw material exports could reinforce existing economic imbalances, with stronger economies benefiting from processing, manufacturing and the sale of finished products.
“You are going to be competing with Brazil, Russia, South Africa, India and, of course, China. Now, Ghana automatically becomes an underdog in this kind of relationship,” he stated.
He questioned government’s negotiating strategy and whether Ghana has clearly defined what it hopes to gain from the proposed partnership.
“So what do you go to the table with? What is our negotiation strategy? And what are our major points of negotiation?” he asked.
Dr Botah cited the growing presence of Chinese-operated retail outlets in Ghana as an example of how foreign businesses could increasingly compete with local traders, even within the domestic market.
He warned that without investment in local processing, manufacturing and technology transfer, Ghana could simply become a larger consumer market for goods produced by BRICS economies.
“If joining BRICS does not come with a clear, attainable, smart objective of how we would transform raw primary commodities like cocoa, gold and the other mineral resources we have into industrial value-addition commodities right on the soils of Ghana… then we are merely becoming another market,” he stressed.
Dr Botah urged government to develop a clear industrial blueprint with measurable targets for value addition, technology transfer and job creation over the next five to ten years.
He maintained that Ghana’s ability to benefit from BRICS would depend on strengthening its domestic economy and negotiating arrangements that protect its economic interests, rather than merely expanding its diplomatic partnerships.
By Noble Crosby Annan
