South African President Cyril Ramaphosa said BRICS economies had "confronted profound challenges" but "we have also shown that adversity can create opportunity" as he addressed the BRICS Business Forum on Friday.

"Our economies have confronted profound challenges over the intervening years due to the challenging geopolitical environment that is caused by unilateralism, by sanctions, and by the conflicts that continue to arise around the world. Yet we have also shown that adversity can create opportunity," he said.

"Resilience is not simply the capacity to withstand disruption. It is the capacity to transform disruption into new capabilities and partnerships. The question is no longer whether there is potential within BRICS, but whether we have the ambition, whether we have the instruments and the partnerships to convert this potential into economic value for our people," he added.

India is also hosting the 18th BRICS Summit in New Delhi on September 12-13. New Delhi's 2026 chairship is focused on 'Building for Resilience, Innovation, Co-operation and Sustainability'. It is pushing a 'humanity-first' and 'people-centric' approach, with stronger Global South co-operation and influence on the world's stage.

It marks the first time India has led the newly expanded BRICS organisation – 11 members, plus 10 partner countries introduced in 2025.

BRICS is now a hugely influential bloc, comprising 40 per cent of global GDP and nearly half the world's population. Iat was created in 2009 by Brazil, Russia, India, and China, with South Africa joining a year later – and later expanded again, admitting more countries in 2024 and 2025.