African Development Bank Secretary General Joins South African Leaders to Highlight Investment Opportunities of Enlarging Brics AllianceThe BRICS Alliance, together with the new member additions, provides immense trade and investment opportunities for the African continent, Prof. Vincent O. Nmehielle, Secretary General of the African Development Bank Group, said at an event on the sidelines of the African Development Bank's 2024 Annual Meetings in Nairobi on Monday 27 May.
"The BRICS Plus countries are, as you know, in the main emerging economies with a growing middle class and a substantial consumer market. So for us, this business expanding into these markets can lead to growth opportunities for our continent," Mabuza noted. She also outlined South Africa's Country Investment Strategy , which identifies five frontiers of strategic investment opportunities: green hydrogen, next-generation digital services, special economic zones, industrial cannabis, and hyper-scaling environmental, social, and governance impact investments.
The event served as a platform for fostering dialogue and exploring avenues for enhanced cooperation between BRICS nations and African countries. As the business breakfast concluded, participants expressed optimism about the potential for BRICS partnerships to drive transformative investments in key sectors such as infrastructure, energy, and connectivity, ultimately contributing to a more prosperous and integrated Africa.).
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