By Kent Mensah, AfricaNews
ACCRA, GHANA, 12 April 2011. The founder and executive chairman of Paramount Group Ivor Ichikowitz said South Africa’s joining the BRICS – Brazil, Russia, India, China, South Africa – nations this week is a decision well taken to strategically position the continent as the next global growth engine.
“Few will be surprised that South Africa is the nation expanding the BRIC group into BRICS – Brazil, Russia, India, China, South Africa,” Ichikowitz stated.
“South Africa’s strategic position as the gateway to Africa, with the continent emerging as the global powerhouse of the future, makes BRICS membership good business sense for all concerned.
“South Africa’s formal membership of BRICS will give African companies – particularly in high growth technology sectors such as defence and aerospace – access to new economies of scale. BRICS membership will see an opening of new doors to technology, investment and markets.
“As South Africa joins this important grouping of emerging economies there is huge potential for collaboration, helping to diversify economies and stimulate regional economic integration.
“Poised to take advantage is a new breed of fast growing, high tech, mid-cap African businesses which are driving innovation and economic integration across the continent.
Businesses like these have a great deal to gain from BRICS, and a great deal to offer. South Africa sits in the driving seat to promote economic integration across Africa. BRICS membership can only serve to boost that.”
Ichikowitz said the membership also serves as a platform to harness the technology sector as well as enhance human resources skills among others.
