BRICS to benefit Kenyans: Experts

Experts have lauded the announcement by Kenyan President William Ruto that Kenya is considering joining the BRICS cooperation mechanism, saying that the country could potentially benefit through attracting investments, increased trade, accessing finance and getting greater global influence.

Following the BRICS expansion last year, more countries including, Ethiopia and Egypt have joined the grouping and many other African countries have expressed interest in joining BRICS. Experts argue that the grouping has created opportunities for African countries to lessen their reliance on Western powers and instead forge stronger pacts with emerging economies.

Xn Iraki, an associate professor at the University of Nairobi's Faculty of Business and Management Sciences, said Kenya has what it takes to join the BRICS grouping which aims to foster cooperation and coordination among its members in various fields, including economics, politics and diplomacy.

"Kenya has good economic and diplomatic relationships currently with the BRICS members. They would welcome Kenya with open arms. It would be interesting to see how the West, especially the EU and the US, would react," Iraki said.

Commenting on the expected impact once Kenya joins BRICS, Iraki said, "We do not expect significant changes now, but we could get new trading partners, funders and investors. We hope they will be different from the current ones."

Benedict Wachira, secretary-general of the Communist Party of Kenya, said BRICS could have a huge economic impact on Kenya, adding that the member countries constitute almost half of the world population which can translate into a market for Kenyan products.

"It is foreseeable that the recent trade policies of the United States will isolate it from global trade, and there is a need to look for alternatives, and BRICS forms a perfect alternative at this juncture," he said.

Wachira said he doesn't foresee any negative or even positive impact on Kenya-US diplomatic relations if the African country joins BRICS. He noted that it depends on the extent of Kenya's commitment to an independent foreign policy that is guided by its own specific interests.

"In the long run, I do not foresee any negative impact."

Experts said that by joining BRICS, Kenya could benefit from technology transfer, industrial innovation and sustainable development.

Some 30 countries across the globe have expressed interest in joining BRICS and the number is expected to grow.