South African President Cyril Ramaphosa has urged BRICS nations to enhance their investments in Africa, emphasizing the continent’s significant potential for economic growth. His remarks were made at the BRICS Business Forum in Kazan, Russia, as leaders prepare for the upcoming summit scheduled for October 22-24.
During his address, Ramaphosa highlighted the opportunities arising from Africa’s free trade agreement and called for substantial investments in infrastructure and youth development. “The development of these sectors is vital for Africa’s economic transformation and ability to compete in international trade,” he stated. He urged fellow BRICS countries to collaborate in constructing essential infrastructure, including roads, ports, railways, energy systems, and telecommunications networks.
The upcoming BRICS Summit is set to convene leaders from 32 countries, with 24 heads of state expected to attend. Key topics on the agenda are likely to include economic cooperation, trade policies, and the shared challenges faced by BRICS nations, such as geopolitical tensions, a global economic slowdown, and climate change.
Notably, Brazilian President Luiz Inacio Lula da Silva, who was scheduled to attend the summit, will participate virtually due to a recent head injury. Chinese President Xi Jinping will also be in attendance, marking the first summit with new members, including Egypt, Iran, and Saudi Arabia, highlighting a growing emphasis on cooperation within the BRICS framework.
In his address, Ramaphosa reaffirmed South Africa’s commitment to upholding international standards, such as cross-border taxation and data privacy protection, while continuing to advocate for the development and growth of the African continent.
