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The South African Boatbuilders Business Council (SABBC) says it is committed to leveraging on its historic ties with global economic powers such as India, China and Russia to secure the growth and prosperity of the entire African Continent.
Most African Economies are currently grappling with sovereign debt crisis owing to what international creditors describe as the ‘double tragedy’.
First the economic impact of the global COVID-19 pandemic and now the latest impact of the conflict between Russia and Ukraine which official accounts from the United Nations attribute to the disruption in supply chains to the African continent.
However the South African BRICS Business Council (SABBC) has released a roadmap of the full programme of events in the build-up to the global BRICS Business Council’s (BBC) Annual General Meeting (AGM) scheduled to be held in August 2023 in Sandton, South Africa; where the South Africa actors both state and private sector players hope to elevate the concerns of the continent at the international level.
Stavros Nicolaou, speaking at the midterm meeting on behalf of the SABBC noted that “as the only African country represented in BRICS, we are committed to the advancement of Africa’s economic interests through the promotion of the Africa Continental Free Trade Area. He added “as the continents most industrialized country and diversified economy, SA’s membership should benefit the entire continent as the catalyst for investment and trade for BRIC nations,”.
BRICS remains a significant economic bloc in the world, representing more than one quarter of global GDP (32%), and 42 percent of the world’s population.
Some African Countries have turned their attention to the likes of China for enhanced economic assistance in a bid to secure economic recovery.
Sous Sherpa, Ben Joubert who also spoke at the meeting said, “the keenness by other countries to join BRICS, is indicative of how the multilateral cluster has remained true to its mandate.”
As 2023 also year marks the BBC’s 10th year anniversary, Mabuza lamented the need for a result-oriented approach, “The next decade requires more pragmatism into the work programme of the BBC, underscored by commercial viability to ensure the return and economic empowerment for all member states of the BRICS formation and Africa.
To celebrate this milestone, the SABBC will host an event that promises to offer a rich intercultural experience. The SABBC also announced an extensive programme of activities and engagements that will showcase South Africa and the continent’s commercial appetite and potential.
This programme will also afford fellow BBC chapters and accompanying business communities to engage and indeed, ‘close deals.’
The activities will range from an inbound buying and investment mission to Durban, Cape Town, and Johannesburg; study tours of investment programmes and projects; sectoral engagements open to business, civil society, and government; a BRIC-Africa platform which will consolidate ideas and set the Africa agenda for August; as well as a meeting of the nine (9) BBC Working Groups will also convene their first physical meeting since 2019 to strategize and plan on the next ten (10) years programme of work and deliverables.
This series of events will eventually culminate in the BRICS Business Forum (BBF), which is one of the key pillars of the Summit with participation by the heads of states of BRICS countries.
The Forum will precede the Summit and will be held at the Summit venue, The Sandton Convention Centre, on August 22.
This is the first in-person BBF since 2019 and promises a great turnout and robust discussion by business and government leaders in attendance.
During the week of the summit, the SABBC in collaboration with the Department of Trade, Industry, and Competition, will host a BRICS Exhibition which will take the form of a marketplace created for networking, business-to-business engagements on trading opportunities.
This will also act as a space to showcase key products and projects, amongst other things.
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