In April this year, South Africa was also accepted officially as a fully-fledged member into the BRIC (Brazil, Russia, India and China) bloc, bolstering its position on the global economic arena, and strengthening political and trade ties within the bloc. South Africa accounts for about a third of gross domestic product in sub-Saharan Africa.
This membership is mutually beneficial, opening up vast opportunities for Africa, while at the same time offering BRIC members improved access to mineral resources and approximately one billion consumers on  BIS central bankers’ speeches  3  the continent.