US Exerts Pressure on South Africa Over Non-Aligned Stance: Expert

"Volatile portfolio flows negatively affect the South African rand, making imports more expensive, as well as hampering investment through creating uncertainty. This has been used as a tool by Western financial institutions to control the development narrative, as policies that differ from Western interest are sanctioned by the quick withdrawal of capital from SA’s financial markets. By moving to more reliable capital and investment flows, SA can pursue its own economic development trajectory without fear of sanction from Western financial institutions, strengthening national sovereignty," he further noted.

"This summit could lay down the criteria for the development of a global multilateral order, if not reveal it by accepting further members into the BRICS grouping. The first action would send a signal to the existing global order that there are alternative worldviews on which to establish global relations. The second action would lay the foundation for the realization of a new, fairer global order," Ruzive stated.

"Algeria and Egypt are frontrunners to join BRICS. In the criteria, economic size and political influence will feature greatly. Geopolitical strategic considerations could also come to the fore i.e., Egypt at the Suez Canal and Algeria by the Strait of Gibraltar, controlling these key trade routes could provide BRICS+ with added flexibility in conducting international trade. Security issues will also feature prominently as criteria for joining the BRICS," Ruzive said.