BRICS building business ties

Published 24 July 2018, by Kuben Chetty

The BRICS Business Council conference, which concluded in Durban yesterday, was a major boost for businesses in the province and the country, KZN MEC for Economic Development, Tourism and Environmental Affairs Sihle Zikalala said.

“The issues discussed are interesting because you can see the joint efforts of the countries that make up BRICS. There are issues and proposals we need to follow up on as some now want to establish businesses.”

Zikalala said the proposal of a youth summit being aligned to the broader BRICS summit was a fascinating development for the continent.

It is estimated that by 2050, Africa will be home to 1.25billion people under the age of 25. The continent’s youth population will be 10 times that of Europe. “The youth summit and the issues proposed for follow-ups are crucial. It is important that young people are considered for employment but also are considered for business ownership.”

Zikalala said the BRICS New Development Bank was already making an impact with investment in some projects.

The three major focus areas identified for the South Africa BRICS Business Council was Youth – Fostering Entrepreneurship; the Digital Economy – Skills Development for the 4th Industrial Revolution and Agriculture and Food Security.

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