Latest News & Developments
In the digital age, data is the new oil and just like colonial powers had once extracted raw materials from the Global South with the intention to boost their industrial revolutions, tech giants in the West now harvest vast amounts of data from the developing countries in order to drive their Artificial Intelligence (AI), digital economies and machine learning.
Explore how the BRICS partnership can bridge the $158 billion credit gap and revolutionise the growth of Micro, Small, and Medium Enterprises across Africa through innovative trade opportunities, technology transfer, and capacity building.
As Trump threatens punitive tariffs on BRICS nations, concerns rise over the future of economic relations and the potential impact on global trade dynamics
South Africa’s role as the gateway to Africa, along with its sophisticated financial system and robust resources, boosts its investment appeal.
Overall, the evaluation found that the project, implemented in the North West, Northern Cape, Western Cape, and Mpumalanga provinces, ‘achieved its objectives and had a positive impact,’ he said.
SA business magnate shares his insights on the significance of BRICS for the Global South, advocating for unity and cooperation among developing nations to address global challenges and promote justice
The 2024 BRICS Summit in Kazan has placed South Africa at a critical juncture, forcing crucial decisions about its position between Western allies and BRICS partners.
BRICS has become a prominent advocate for developing countries on the global stage. It has provided a platform for the Global South countries to find alternatives to West-led economic structures and promote fairer global governance.
The outcomes of the summit promise to shape the international landscape in the years ahead as BRICS navigates its path forward under China’s leadership and a collective resolve for a more equitable global order.
For Africa, BRICS is not just a partnership—it is a transformative opportunity. The time to seize that opportunity is now.
This comes as BRICS nations have embarked on strengthening correspondent banking networks within BRICS and enabling settlements in local currencies in line with BRICS Cross-Border Payments Initiative (BCBPI), which is voluntary and non-binding including in the BRICS Payment Task Force.
The 2024 BRICS Summit in Kazan presents a pivotal moment for the bloc to assert its influence in a rapidly changing global landscape, addressing key issues such as geopolitical conflicts, economic reform, and the future of international trade
As a response, Agbiz asserted that the Department of Trade, Industry and Competition (the dtic) must prioritise agricultural issues in its discussions with foreign governments.
The primary objective behind this initiative was to break away from the dominance of imperial institutions such as the World Bank (WB) and the International Monetary Fund (IMF), which for decades have imposed financial control over developing nations, especially in Africa
The NDB says it will continue to establish itself as a regular issuer in the local capital market.
Infrastructure investments are critical to economic growth and alleviating poverty in South Africa, says the author.
Renewal. The G20 needs to go ‘Back to Basics’ where urgent intervention is needed as the IMF and powerful banks and creditors extract value and interest from the poorest nations while imposing austerity. South Africa is in an opportune position to shape the agenda as its hosts the G20 in 2025, the writer says.
Acting Minister in the Presidency Maropene Ramokgopa addresses South Africa’s economic growth, foreign investments, energy stability, and the government's efforts in fighting crime and corruption.
Transnet which is currently implementing a recovery plan believes that any risks will be ‘satisfactorily addressed’ as it restructures.
As of July 2024, NDB’s total outstanding borrowing was around $16 billion (R285bn).
For example, India had created the National Infrastructure Pipeline for 2019 to 2024, an infrastructure projects database, with an initial sanctioned amount of $1. 4 trillion (R25trl).
National Development Bank intendS to use its Project Preparation Fund and the expertise of fellow BRICS member countries to draw up a project plan to possibly help fund the expansion of South Africa’s electricity transmission system.
The bank’s president, Dilma Rousseff, said on Saturday that the bank has nonetheless remained in a good financial position, and its liquidity, reserves and loan capabilities were robust
Developing countries, particularly in Africa, are struggling to repay debt in the high interest rate environment, and their commodity-extraction-focused economies are feeling the pinch of weaker global demand.
The geopolitical changes currently sweeping through the globe include a process better-known as “de-dollarisation”, where BRICS member-states have resolved to no longer use the US dollar when conducting trade and business among themselves