BRICS AND THE RECONFIGURATION OF DEVELOPMENT FINANCE IN AFRICA: IMPLICATIONS FOR SOUTH-SOUTH COOPERATION AND MULTILATERALISM

This article examines how BRICS-led development finance contributes to the reconfiguration of development finance in Africa through the interconnected dynamics of financing diversification, South-South cooperation, and evolving multilateral practices. Drawing on an analytical literature review grounded in International Political Economy, the study analyses academic and institutional sources addressing BRICS financing mechanisms, the New Development Bank (NDB), and development partnerships in Africa. The findings indicate that BRICS-led finance expands financing opportunities, strengthens South-South cooperation, and contributes to the diversification of multilateral development finance without replacing traditional development institutions. Rather, it supports the emergence of a more plural development finance architecture characterized by the coexistence of traditional and emerging actors. The articles main contribution is the concept of the reconfiguration of development finance in Africa, which provides an integrated analytical framework for understanding the relationships among development finance, South-South cooperation, and contemporary multilateralism.