Why it matters:
BRICS+ nations are prioritizing food security and agricultural development through enhanced collaboration. This initiative aims to stimulate economic growth, create jobs, improve livelihoods in the agricultural sector, and foster sustainable practices. Ultimately, the goal is to reduce reliance on external food sources and build resilience against global market volatility.
The big picture:
The summit emphasized support for women's entrepreneurship, the development of cross-border partnerships, and the introduction of advanced technologies in the agricultural sector in the states of the Global South.
Key points:
The meeting saw major contracts in agribusiness and infrastructure, including:
US$456 million sugar export deal between South African and Brazilian companies;
construction of a US$25,5 million sugar factory based on the Brazilian agro-model in KwaZulu-Natal province, South Africa;
investments worth US$16,11 million in poultry production through a partnership with Zimbabwe;
infrastructure projects (fertiliser production, solar energy, borehole drilling in South Africa) worth over US$5 million.
What they're saying:
Head of Food Security Working Group of the BRICS Women’s Business Alliance South Africa Zanele Ntuli in a conversation with TV BRICS, emphasised that joint work by the countries of the association would help overcome the existing challenges.
"BRICS states can ensure food security in emerging markets because we have South Africa and Nigeria, the most populous country on the African continent," she said.
On his part, Gugulethu Xaba, President of the Rural Chamber of Commerce and Industry, in a commentary for the international media network, said BRICS as a multilateral association offers great opportunities for Africa, especially in the area of agriculture, and helps the continent become a key supplier of agro-products to the BRICS+ markets.
Go deeper:
The summit was organised by the African Investors Council in partnership with the Expanded BRICS Women Foundation and supported by the BRICS Women’s Business Alliance. TV BRICS was the media partner of the event.
The summit also saw the launch of an agri-tech platform based on artificial intelligence and the Internet of Things. Developed by women from South Africa, it enables real-time deal verification, learning and connecting with investors and experts using smart glasses.
Hossein Amiri
