Business

The emerging economies of Brazil, Russia, India, China and South Africa known as the BRICS group have opened the doors to new opportunities such as food Security.1 The addition of new members such as Saudi Arabia, Argentina, the United Arab Emirates, Ethiopia, Turkiye, Egypt, and Iran has created a new market for agriculture.2 South Africa in particular is looking to deepen trade with these countries particularly Saudi Arabia as a $ 20-billion importer of agriculture produce every year.3  In fundamental terms the European Union and the Far East remain important markets to South Africa’s agricultural trade and the expansion to more BRICS + member nations should be seen as additional markets not replacements.4 This was according to Agriculture Business Chamber(Agbiz) chief e...

South Africa under President Cyril Ramaphosa is likely to prioritize energy security over its aspirations to decarbonization.1 The main goal is to prevent further damage to the economy, said James Mackay, the chief executive officer of the Energy Council of South Africa.2  This has come to involve extending the life of some of the state power utility Eskom Holdings SOC Ltd.’s coal-fired plants.3 The financial cost of this may be reduced access to concessional climate change – like the $8.8 billion just energy transition loan – and a decline in the competitiveness of South African exports as the European Union ramps up levies on imported products that have carbon-heavy production processes, Mackay said.4 “Energy security is fundamental to economic growth and activity,” Mack...