Ramaphosa pushes Brics ties as investment lags in South Africa

She said the next phase of the government-business partnership will focus on growth and investor confidence, with infrastructure, mining, agriculture and tourism identified as areas with significant potential.

Dr Raymond Parsons, an economist at the North-West University Business School, said South Africa needs to diversify its markets and investment sources as the global economy increasingly fragments. Brics is valuable as a means of creating greater structural diversity in South Africa’s economic relationships but should be viewed as a strategic balancing mechanism rather than a replacement for the country’s existing economic ties with Western markets.

Ramaphosa said South Africa wants to strengthen business ties with India.