Brazil and South Africa share membership of the important BRICS and IBSA formations.
Bolsonaro's resounding win in Sunday's run-off put an emphatic end to the electoral dominance of the Workers' Party (PT), which had won the previous four presidential elections.
Thousands of Bolsonaro supporters cheered and set off fireworks outside his home in Rio de Janeiro's beachfront Barra de Tijuca neighborhood as his victory was announced.
Trump called Bolsonaro to congratulate him on his victory.
Bolsonaro, with a proudly authoritarian approach that attracted Brazilian voters tired of crime and corruption, will have to find a way to fit into the groupings of developing countries.
"I don't idolize Bolsonaro and I don't know if he will govern well, but we are hopeful". That this campaign promise resonated more with Brazilian voters than they were put off by Mr. Bolsonaro's dangerously regressive outbursts and polarising verbal attacks denigrating women and minorities, supporting torture, and threatening opponents with violence, says much about the mood of the nation today.
Investors also cheered Bolsonaro´s ascent, relieved that he could keep the PT out of power and hopeful that he would carry out fiscal reforms proposed by his orthodox economic guru.
Ariana Grande shades Pete Davidson over joke about their failed engagement
The actor and Grande ended their relationship in October after getting engaged in June, following weeks of dating. This isn't the first time he's commented with humor on the short-lived engagement to Grande.
Bolsonaro plans to be here November 6 to meet with outgoing President Michel Temer.
Brazil's LGBTQ community has made a number of gains over the past two decades: same-sex marriage has been legal since 2011, transgender people can use their chosen names on government IDs, the public health system offers specialized care for trans people, and gay couples have the same rights to a partner's pension upon death as heterosexual couples. New rules will boost investment in infrastructure, he told reporters.
Bolsonaro has said Guedes will head an economy "super-ministry" bringing together the finance, trade and planning portfolios after he takes office on January 1.
Still, Fitch Ratings on Monday highlighted the "deep fiscal challenges" confronting Bolsonaro's team, as weak growth and a huge budget deficit leave little room to maneuver.
Earlier in the day, Environment Minister Edson Duarte said in a statement that he was surprised and concerned by the announcement about plans to combine the agriculture and environmental portfolios.
"The PT elected Bolsonaro", he said in an interview published Wednesday.
"The problem with this (employment) upturn is that it mostly corresponds to undeclared jobs or the self-employed", said Cimar Azeredo of the Brazilian Institute of Geography and Statistics. He said the Temer government may approve the deal before leaving.