Latest News & Developments
new development bank
Digital Sovereignty: How BRICS Can Reshape Global Tech Power
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.
How The BRICS 2025 Strategy Will Transform African MSMEs
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.
Trump’s tariff threats heighten trade tensions with BRICS nations
As Trump threatens punitive tariffs on BRICS nations, concerns rise over the future of economic relations and the potential impact on global trade dynamics
Why South Africa is emerging as a top investment destination
South Africa’s role as the gateway to Africa, along with its sophisticated financial system and robust resources, boosts its investment appeal.
Independent evaluation confirms success of NDB’s renewable energy projects in South Africa
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.
Empowering the Global South: Insights from Dr Iqbal Survé on BRICS
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
SA faces tough choices after BRICS Kazan summit declarations
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.
Rising BRICS paves way for inclusive global development
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.
Xi Jinping Advocates Stronger BRICS Unity: China's Strategic Vision Leads 2024 Summit in Russia
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.
BRICS and Africa: A Transformative Opportunity
For Africa, BRICS is not just a partnership—it is a transformative opportunity. The time to seize that opportunity is now.
BRICS nations push for greater financial integration through local currencies
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.
BRICS Summit 2024 offers huge opportunity to reset geopolitics
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
SA focuses on enhancing agricultural exports at BRICS meetings
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 visionary behind the BRICS Bank
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
New Development Bank raises R1bn in South African bond market
The NDB says it will continue to establish itself as a regular issuer in the local capital market.
SA needs to step up to attract investments from the New Development Bank
Infrastructure investments are critical to economic growth and alleviating poverty in South Africa, says the author.
A generational opportunity for the Global South
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 presidency addresses positive growth and key social developments
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.
Auditors question Transnet’s viability as its loss grows to R7. 3bn
Transnet which is currently implementing a recovery plan believes that any risks will be ‘satisfactorily addressed’ as it restructures.
NDB continues to diversify funding, while boosting Panda bond sales
As of July 2024, NDB’s total outstanding borrowing was around $16 billion (R285bn).
NDB members share views on how to finance infrastructure
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).
NDB to plot way out of SA’s electricity grid crisis through collaboration with BRICS members
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.
NDB remains well able to fund developing country projects despite fraught global financial markets
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
NDB meeting in Cape Town casts a global spotlight on fast-growing funding needs of developing countries
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.
BRICS Bank signals the rapid changes in international relations
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