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 <p>The <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> alliance inducted six new countries into the bloc during the summit in Johannesburg. The six countries are Saudi Arabia, the UAE, Egypt, Argentina, Iran, and Ethiopia. The countries are set to officially join the group and be a part of the summit in 2024. This makes the <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> turn into <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a>+, which will be an 11-nation member.</p> 
 <p>However, <a rel="noopener noreferrer nofollow" title="South Africa" href="https://thebittimes.com/tag/south-africa.html">South Africa</a>’s President <a rel="noopener noreferrer nofollow" title="Cyril Ramaphosa" href="https://thebittimes.com/tag/cyril-ramaphosa.html">Cyril Ramaphosa</a> made a huge announcement about the second phase of the <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> expansion. According to his statement, many more countries are set to be inducted into the group in the coming months.</p> 
 <p><strong>Also Read: BRICS Expansion Will Significantly Speed-up De-Dollarization</strong></p> 
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 <h2 class="wp-block-heading" id="h-second-phase-of-brics-expansion-to-follow-confirms-south-africa-s-president">Second Phase of BRICS Expansion To Follow, Confirms South Africa’s President</h2> 
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  <figcaption class="wp-element-caption">
    Cyril Ramaphosa, South Africa’s president, during the South Africa Investment Conference in Johannesburg, South Africa, on Thursday, April 13, 2023. 
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 <p>On the last day of the 2023 summit, Ramaphosa confirmed that the second phase of the expansion would follow suit. <strong>“We have consensus on the first phase of this expansion process and other phases will follow,” </strong>he told Bloomberg. Therefore, according to Ramaphosa, the second phase of the BRICS expansion could be initiated going forward.</p> 
 <p><strong>Also Read: <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a>: Chinese Yuan a Growing Threat to the U.S. Dollar?</strong></p> 
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 <p>The tentative date for the second expansion of BRICS is yet to be known. Ramaphosa did not confirm further processes but another round of expansion is on the cards. The countries that could be inducted in the second round are unknown at the moment. The alliance will review the applications again and jointly conclude decisions about further expansion.</p> 
 <p>The BRICS expansion makes developing countries stand on one side of the aisle while Western nations stand on the other side. The economic rift could widen as BRICS nations and their allies look at dethroning the US dollar’s global status.</p> 
 <p><strong>Also Read: BRICS: The Mighty Dollar Faces ‘Do or Die’ Situation</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>BRICS</li> 
  <li>brics expansion</li> 
  <li>Cyril Ramaphosa</li> 
  <li>South Africa</li> 
  <li>US DOLLAR</li> 
 </ul> 
</div>

South Africa Makes Huge Announcement on Second Phase of BRICS Expansion

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