Business leaders Patrice Motsepe (founder and chair of JSE-listed African Rainbow) and Stavros Nicolaou (an executive at Aspen Pharmacare) have called on the BRICS countries to boost their trading activity with each other and African countries.
They believe that the formation of BRICS has benefitted all its member countries, especially South Africa.
The BRICS economies accounted for about 21.3% of South Africa’s total trade with the world in 2022, of which China accounted for 67.6%, India 26.5%, Brazil 4.2% and Russia 1.7%, according to data from the Industrial Development Corporation. South Africa’s overall trade with its BRICS partners increased by an average of 10% from 2017 to 2021.
Source: All Africa