FOR IMMEDIATE RELEASE
African Congress Transformation Calls for Review of Mineral Prices and BRICS Benefits for South Africa
The African Congress Transformation (ACT) is calling for an urgent review of mineral prices and for South Africa to fully benefit from its membership in the BRICS (Brazil, Russia, India, China, and South Africa) trading bloc. As a founding member of BRICS, South Africa should be enjoying the benefits that come with being part of this powerful economic group, particularly in the areas of Information and Communications Technology (ICT) and oil.
“It is unacceptable that South Africa, with its vast mineral resources, is not deriving the full benefits of its BRICS membership,” said Itumeleng Madisha, Regional Convenor of ACT-Tshwane Region. “We demand a comprehensive review of mineral prices to ensure that our country is getting a fair deal for its natural resources.”
Madisha pointed out that South Africa’s economy is heavily reliant on the export of raw materials, yet the country does not have control over the pricing of these resources. “This has resulted in multinational corporations exploiting our resources and reaping huge profits while our people remain poor,” he added.
In addition, Madisha emphasized the need for South Africa to take advantage of the opportunities presented by the digital revolution sweeping across the world. “As a country, we cannot afford to be left behind in the digital era. We need to invest in ICT infrastructure and develop our skills base to compete effectively in the global marketplace.”
Furthermore, Madisha called for greater collaboration between BRICS countries in the area of oil production and distribution. “South Africa should work closely with other BRICS members to secure favorable deals on oil imports and exports, which will help to reduce our energy costs and boost our economy.”
The ACT believes that the review of mineral prices and increased cooperation within BRICS will help to stimulate economic growth and create jobs in South Africa. “We need to take bold action to transform our economy and ensure that it works for the majority of our people,” Madisha concluded.
For further information or comment, please contact Itumeleng Madisha, Regional Convenor of ACT-Tshwane Region, on 079 917 8748.