Patrice Motsepe advocates for BRICS partnerships to drive Africa’s growth

In an address at the BRICS Business Forum held at the Sandton Convention Centre, Patrice Motsepe, a South African billionaire businessman and mining magnate, called upon African leaders and enterprises to foster robust and mutually beneficial alliances with BRICS nations.

Motsepe, who serves as the inaugural chairperson of the BRICS Business Charter in South Africa, emphasized that meaningful partnerships and shared benefits are pivotal to propelling economic advancement among the BRICS nations.

Speaking just prior to the commencement of the 15th BRICS Summit, where leaders from Brazil, Russia, India, China, and South Africa convened, Patrice Motsepe highlighted the flourishing trade ties that have evolved over the years among these countries.

He underscored the considerable growth in trade between South Africa and fellow BRICS members, including China, India, Russia, and Brazil, as an outcome of the collaborative and reciprocal relationships between these nations.

Motsepe, whose net worth stands at $2.3 billion, derived primarily from his mining group, African Rainbow Minerals (ARM), a groundbreaking Black-owned mining corporation headquartered in Johannesburg, emphasized the importance of positioning South Africa and the African continent as equal partners rather than beneficiaries in global interactions.

He urged a shift from aid-dependent relationships to those built on competitive goods and services. Stressing the potential for substantial economic growth, Motsepe projected a trade value exceeding $6 trillion if these partnerships are strategically harnessed.

Motsepe’s address centered on the need for enabling policies that stimulate trade and investment within the BRICS consortium and intra-trade, as championed by the Africa Free Trade Agreement.

He cautioned against policies that lack effective translation into the free movement of goods and services, emphasizing the importance of fluid economic exchanges for sustained growth.

Motsepe’s storied career in the mining sector and his visionary insights into sustainable economic development position him as a potent advocate for Africa’s ascension on the global economic stage.

His call for robust partnerships with BRICS nations resonates as a blueprint for propelling South Africa and the entire African continent toward a more prosperous future.