8 hrs ago
African Journalist Praises India’s BRICS Summit, Urges Local-Currency Trade
Shadrach Hollow, a journalist from Africa, attended the BRICS Summit in India.
He said the event was a wonderful experience because many countries and businesses took part.
He said South Africa brought more than 130 business owners.
South African President Cyril Ramaphosa said governments cannot build prosperity alone.
He said businesses also need to help countries work together.
Hollow hopes BRICS countries will make progress toward a common payment system.
He also supports using local currencies instead of relying on the US dollar for trade.
Ramaphosa said BRICS should create more products, technology and valuable jobs within its member countries.
The reports give different figures for South Africa’s business participation: Hollow cited more than 130 business owners, while Ramaphosa cited 120 companies.
TV BRICS Africa journalist Shadrach Hollow called covering India’s BRICS Summit a “wonderful experience.”
Hollow said South Africa brought more than 130 business owners to the summit.
South African President Cyril Ramaphosa said businesses must share responsibility with governments for development.
Hollow expressed hope that BRICS leaders would advance plans for a common payment system.
Ramaphosa said BRICS should deepen productive economic ties, rather than focus only on increasing trade.
- Who
- Shadrach Hollow, South African President Cyril Ramaphosa, BRICS leaders, businesses and delegations.
- What
- Hollow praised the BRICS Summit and called for stronger business ties, progress on a common payment system and greater use of local currencies.
- Where
- India.
- When
- During the BRICS Summit and the BRICS Business Forum, with Ramaphosa speaking earlier on Friday.
- Why
- The discussions focused on strengthening economic cooperation, trade, investment, technology and development among BRICS countries.
Key facts
- Journalist
- Shadrach Hollow of TV BRICS Africa
- South African participation
- Hollow said South Africa brought more than 130 business owners; Ramaphosa said 120 South African companies were represented.
- Payment system
- Hollow said a common BRICS payment system has been discussed for some time and urged leaders to show progress.
- Trade currencies
- Hollow said BRICS countries are increasingly using local currencies for trade with one another.
- Ramaphosa’s assessment
- He described BRICS as being at an “inflection point” amid changing trade patterns, technological advances and climate pressures.
- Business Council
- The BRICS Business Council was established during South Africa’s first BRICS presidency in 2013.
- Forum focus
- The BRICS Business Forum addresses trade, investment, finance, technology and development challenges.
Quotes
Shadrach Hollow
TV BRICS Africa journalist who covered the BRICS Summit in India
“I do know that the way that we've been procuring from each other now uses common currencies, local currencies, which is quite better than just using the dollar. We should not be using the dollar of someone who's not in the boardroom while South Africa and India are really doing the deal.”
freepressjournal.in
“I think it's been a wonderful experience. It's large-scale. There are a lot more delegations. I know South Africa brought more than 130 business owners here. So, it's been quite a great experience.”
freepressjournal.in
Cyril Ramaphosa
President of South Africa addressing the BRICS Business Forum
“As BRICS, we find ourselves at an inflection point. As the global economy is reshaped, as trade patterns shift, as technological advances accelerate, and as climate pressures increase, countries and companies are compelled to reconsider where they source, produce, and invest. For us, this is an opportunity to shape a more resilient, diversified and inclusive economic future for the Global South.”
freepressjournal.in
Sources
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