Johannesburg, March 26 IANS | 2 years ago

The BRICS mechanism provides an opportunity for South Africa to learn from other members in nation-building and for the whole Africa to stimulate economic growth, says a business executive.


South Africa has an opportunity to "learn from the examples of nation-building on the part of Brazil, Russia, India and China," Hlengani Mathebula, chairman of the Black Business Executive Circle (BBEC), told Xinhua.

Launched in 2000, the BBEC is a grouping of South African private and state-run companies' directors and executives aimed at promoting economic growth.

Calling BRICS an influential club, he said South Africa needs to play an increasingly active role in it if the country wants to attract potential investors and polish its global image.

South Africa's hosting of the fifth BRICS summit on March 26-27 sends a clear message to the world and its fellow BRICS members in particular that it is open for business, Mathebula added.

By hosting the summit, he said, South Africa has a good chance to encourage new business opportunities, draw more foreign investment and promote economic growth for the country.

The summit is important to South Africa and its aspirations for growth and economic development, he said.

"It will provide an unprecedented opportunity to explore common ground, identify new business and economic cooperation opportunities, and share knowledge and expertise in areas of mutual interest," he said.

(Posted on 26-03-2013)