South Africa: Increased investments of BRICS countries in Africa aimed to boost the economy

According to the South African President and Chairman of the African Union, Cyril Ramaphosa, the BRICS countries Brazil, Russia, India, China and South Africa should work closer together in the difficult economic situation caused by Covid19.

During the virtual 12th summit of the BRICS countries, he called for more investment among the BRICS countries and support for an economic stimulus package for African countries to help boost the economy after the pandemic.

South Africa and the whole of Africa were grateful for the support of the BRICS partners, but investments in Africa, especially in the manufacturing sector, should continue to increase. Particularly, the African Continental Free Trade Zone from January 2021 should enable investors to achieve considerable advantages.

Ramaphosa also supports UN Secretary General António Guterres' call for a New Global Deal, which includes a more balanced trading system, debt reform and better access to credit for developing countries.

Click here to read the complete speech of President Ramaphosa:
http://www.thepresidency.gov.za/speeches/statement-president-cyril-ramaphosa-during-virtual-12th-brics-leaders%27-summit