As the African continent continues to look for opportunities for investment, countries have the potential to use their mineral resources and arable land as a lever to increase the economic gap, encouraged Yofi Grant, CEO of the Ghana Investment Promotion Centre (GIPC).
Grant was speaking at a panel discussion hosted by the BRICS (Brazil, Russia, India, China and South Africa) Business Council, in collaboration with the Gauteng Growth and Development Agency (GGDA) and supported by the Organisation for Global Africa Cooperation (OGAC) on Friday.
The event took place on the sidelines of the BRICS Business Forum, where business organisations and the Forum explored initiatives to promote the participation of the African private sector in the activities of the BRICS Council.
Busi Mabuza, Chairperson of the #BRICS Business Council speaking on opportunities for African economies within BRICS. #BRICS23GP #BRICSza #BRICS4Africa @TheGGDA pic.twitter.com/wozRF0y6mq
— CNBC Africa (@cnbcafrica) August 18, 2023
Grant said that while he was excited, "the excitement should mean that we've actually created the bridges and linkages that will make it happen, which I'm afraid to say we haven't yet done."
Deputy Director-General of the Department of Trade and Industry, Lerato Mataboge, said there was a need to build African capacity, and that capacity was around infrastructure and industrial capacity.
“But, to do so takes investment,” she said.
"We need to accrue finances from all over the world for our development. It doesn't mean the fact that we're integrating as Africans, we don't leverage external partnerships," Mataboge said.
The DTI has decided to have a BRICS Africa Exhibition, which will showcase South Africa's productive capability along with African countries also showcasing their products.
"Africa is the future, and she is ready to take her place among the community of nations. We are here as Africans, and we're going to pursue our integration very decisively," she added.
kailene.pillay@inl.co.za
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