Tag Archives: BRICS

Russia assisting Africa energy projects

The African continent is in vital need of energy investments, and Russia could become one of its key partners, according to President Vladimir Putin attending #BRICS summit in Johannesburg, South Africa. “I would especially like to underline that Russia is planning to step up its assistance in development of national energy in African states,” said the Russian president during the BRICS-Africa Outreach panel.

According to Putin, Russia is in talks with Angola, Mozambique and Gabon on implementing promising oil and gas projects. “In the field of nuclear energy, where Russia is the technological leader, we offer African partners to build an industry from scratch,” the Russian president said. These projects are crucial for Africa since about 600 million people on the continent live without electricity.

Energy is not the only sphere where Russia and Africa could cooperate, according to Putin. “Russian business shows interest in working with African partners in a wide range of areas, including agriculture, healthcare, the development of mass communications, geology and subsoil use,” Putin said.

President Putin mentioned Angola, where Alrosa company is interested in mining diamonds, a joint venture between Russia and Burundi on the production of lighting products for exports to East Africa, and agriculture projects in Senegal.

South Africa chairs BRICS

South Africa stepping in to chair the BRICS – Brazil, Russia, India, China, South Africa – from  January 1, 2018.  The decision has been taken at recent summit of members of BRICS association in Xiamen, China, in September 2017.

Vice President of BRICS New Development Bank, Leslie Maasdorp, said to Russian TASS news agency, that the South African government has not submitted the objectives and agenda of its chairmanship.

However one can presume the priorities of South Africa’s policy following its record of co-operation with the BRICS partners, formally shaping their agenda at the joint events in 2018, guided by the President Jacob Zuma’s speech at a special session of the BRICS Business Council held in September 2017 during the 9th summit in Xiamen.

Efforts to promote economic development and growth, increase trade volumes and attract investment to the industrial sector of South Africa’s economy are identified as the key objectives for the country’s participation in this format at that time. There are also expectations of investment in industry, following government’s plans support the creation of new jobs, poverty reduction.