By Lehlohonolo Lehana.
President Cyril Ramaphosa has called on BRICS Business Council to direct investment towards the manufacturing, beneficiation, industrial technologies, energy systems, infrastructure and logistics.
Ramaphosa was addressing the BRICS Business Forum Leaders’ Dialogue, held in Bharat India.
The Summit, taking place from 12 to 13 September under India’s chairship, comes as BRICS seeks to strengthen cooperation among its expanded membership and advance the interests of the Global South.
Ramaphosa is supported by Minister of International Relations and Cooperation Ronald Lamola; Minister in the Presidency Khumbudzo Ntshavheni; and Deputy Minister of Trade, Industry and Competition Zuko Godlimpi.
BRICS is an intergovernmental organisation and geopolitical alliance of major emerging market economies.
Full members of this association are Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the United Arab Emirates.
Ramaphosa said, “Africa must not only supply the minerals on which the next generation of industries depends, while value addition and manufacturing take place elsewhere.”
“If we are to change where value is created, we must also change where investment is directed. The companies must invest not only to access markets, but also to establish production facilities and develop local capabilities,” he said.
BRICS countries were at an inflection point. With the global economy being reshaped, trade patterns shifting, technological advances accelerating and climate pressures increasing, countries and companies must reconsider where they source, produce and invest.
For the BRICS bloc, this was an opportunity to shape a more resilient, diversified and inclusive economic future for the Global South, Ramaphosa said.
“We must not reproduce that pattern within the expanded BRICS. Our ambition must extend beyond increasing intra-BRICS trade to deepening the productive relationships between our economies.”
He called on BRICS countries to turn the ambitions of the bloc into commercial relationships and productive partnerships.
The work of the BRICS Business Council and the Working Groups was essential to turning the ambitions of BRICS into meaningful economic cooperation, he added.
“The question is not whether there is potential, but whether we have the ambition, the instruments and the partnerships to convert this potential into economic value for our people. Our shared task is to translate the ideas, recommendations and partnerships developed through the council into tangible economic growth and development.
“Our economies have confronted profound challenges [since the formation of the BRICS Business Council in 2013], yet we have also shown that adversity can create opportunity. Resilience is not simply the capacity to withstand disruption. It is the capacity to transform disruption into new capabilities and partnerships,” he said.
On 12 September 2026, Ramaphosa will address the India-South Africa Business Leadership Roundtable, with a focus on enhancing bilateral trade and investment between the two countries.
The forum also seeks to encourage additional Indian foreign direct investment in key sectors, including pharmaceuticals, infrastructure, critical minerals, and the electric vehicle battery value chain.
On 13 September 2026, He will deliver a statement during the Summit’s open session for BRICS and invited leaders, titled “Resilience, Innovation, Cooperation and Sustainability: Shaping the Future for Inclusive Global Growth”, which will focus on India’s chairship priorities.
The President will also join other leaders in visiting the Bharat Innovates & BRICS @20 Exhibition, which will showcase innovation, technology and key achievements of BRICS cooperation, as well as participate in a joint tree-planting ceremony. He will also hold bilateral meetings with Heads of State and Government, and engage with business leaders and captains of industry.