Skip to main content

Translate

BRICS Will It Be South Africa's Shangril-a To Economic Freedom For Its Citizens

South Africa has been struggling with a poor economy for quite some time now. The country is a member of the BRICS group, which is made up of Brazil, Russia, India, China, and South Africa. However, despite being a part of this group, South Africa's economy has been lagging behind. One of the major reasons for this is the corruption that has plagued the State-owned enterprises in the country.

Corruption has been a major issue in South Africa, and it has affected the country's economy in many ways. One of the most significant impacts of corruption has been job losses. When State-owned enterprises are involved in corrupt practices, it leads to inefficiencies and mismanagement. This, in turn, leads to job losses as companies struggle to stay afloat.


Another issue that South Africa has been facing is the cholera outbreak. This outbreak has been linked to poor sanitation and hygiene practices, which are a result of the poor economy. When people do not have access to clean water and sanitation facilities, it leads to the spread of diseases like cholera. This, in turn, affects the productivity of the workforce, which further impacts the economy.

While corruption and poor governance can certainly hinder a country's progress, South Africa can still benefit from its membership in BRICS (Brazil, Russia, India, China, and South Africa) in several ways:

Potential Economic Rescue Options For South Africa

1. Economic Cooperation:

BRICS offers South Africa access to a large and diverse market of emerging economies. This can provide opportunities for trade, investment, and economic growth. By participating in BRICS summits, South Africa can engage in discussions on economic policies, promote its industries, and attract foreign investment.

2. Infrastructure Development: 

BRICS nations often collaborate on infrastructure projects. South Africa can leverage this cooperation to address its own infrastructure challenges. For example, it can seek investments and expertise from other BRICS members to develop transportation networks, power plants, and other vital infrastructure that can enhance economic productivity.

3. Investment and Finance: 

BRICS countries have established the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA) to support infrastructure development and provide emergency liquidity assistance. South Africa can benefit from these financial mechanisms by accessing funds for infrastructure projects or during times of economic stress.

4. Knowledge Sharing: 

BRICS nations engage in various forums and initiatives aimed at sharing knowledge and expertise across a range of sectors, including education, science, technology, and healthcare. South Africa can tap into this collective wisdom to address its own challenges and improve governance practices. Learning from successful experiences of other BRICS members can help South Africa implement effective anti-corruption measures and strengthen its institutions.

5. Diplomatic Influence: 

By being part of BRICS, South Africa gains a platform for diplomatic engagement on global issues. It can align itself with other member countries to advocate for shared interests and positions in international forums, such as the United Nations. This can enhance South Africa's influence and promote its development priorities on the global stage.

However, it's important to note that for South Africa to fully benefit from BRICS, it needs to address its internal challenges related to corruption and governance. By taking concrete steps to combat corruption, improve transparency, strengthen institutions, and ensure good governance practices, South Africa can create a more conducive environment for reaping the benefits of BRICS membership.

To improve the economy, South Africa needs to tackle corruption head-on. The government needs to take a strong stance against corruption and ensure that those involved in corrupt practices are brought to justice. This will help to restore trust in the government and the economy.

Another way to improve the economy is through DE Dollarization. This is a process whereby a country stops using the US dollar as its currency and instead uses its own currency. This will help to reduce the country's dependence on the US dollar and make it more self-sufficient. DE Dollarization will also help to reduce inflation and boost economic growth.

In conclusion, South Africa needs to address the issue of corruption if it wants to improve its economy. The government needs to take a strong stance against corruption and ensure that those involved in corrupt practices are brought to justice. Additionally, DE Dollarization can help to reduce the country's dependence on the US dollar and make it more self-sufficient. Only then can South Africa truly become a prosperous and thriving economy.

Access more information here. Share follow and subscribe.

Brought to you by:

Isaac Khonjelwayo

Comments

Popular Posts

From Jungle to Paradise: Cultivating a Thriving South Africa for All

Introduction: The metaphors of "jungle" and "garden" aptly capture the current state and desired future of South Africa. A nation brimming with diverse potential, yet entangled in challenges, needs a transformative approach to unlock its true potential. This essay draws inspiration from "From Jungle to Garden: Transforming South Africa's Diversity into Productivity" while tailoring it to a broader vision: creating a "paradise" for every value-adding individual. Beyond Manifestos: Understanding the Human Soil Manifestos alone are insufficient. We must delve deeper, analyzing the quality of individuals attracted by each party and their citizen empowerment programs. This is crucial, for a fertile "garden" requires diverse, skilled, and engaged citizens. International Investment: Nourishing the Growth South Africa's journey to paradise cannot be undertaken alone. International financial investment is vital, but simply attracting ...

Technical Support 2015 Learnership NQF5 Part.1

Time is very short and flies like the wind. It seemed like just yesterday when I was facilitating the Technical Support Learnership NQF5 in 2015. These are my students and I'd like to dedicate this photo show to them all. And say a note of thank you to you all for helping me fulfill my "life's Purpose". All was well that ended well. I'm truly grateful for the opportunity to have been part of your career path. Thank you - God Bless you all a million times in the year 2020 and beyond. Changing The Face of Our Country's Economy You guys were an amazing group of students who could take pressure and I wish you all well into the future. Because, I know being a father figure was never easy for you, as it was for me. My attempts was to instill discipline and tough love. As the most difficult person to please, you did your best in the most trying of circumstances and I'm proud of you all. A few of you hated me, but the majority liked me. It's not unusual...

Rising from the Ashes: A Call to Rebuild South Africa

The Crossroads of Hope and Despair Dear fellow South African Citizens I sit and write on my computer today, not as a great leader, but as a humble voice, echoing the dreams of those who came before us. Our beloved South Africa finds itself at a crossroads, where the shadows of despair threaten to engulf the light of hope. The ANC, once a symbol of liberation, has faltered, and our nation stands on the precipice of a calamity. But let us remember, even in the darkest of hours, that the power to change lies within us, the sons and daughters of this magnificent land. We are the architects of our destiny, and together, we can salvage and save our beloved nation. Ubuntu: The Spirit of Togetherness First, let us unite as one people, transcending the divisions that have plagued us. Let us remember the spirit of Ubuntu, for in unity, we find strength. No matter your background, race, or creed, we are all South Africans, bound by a shared dream of prosperity and peace. Education: The Key to Our...

How Can The Church Build Its legacy Through Education

To educate a congregation is to accept a “Calling” but to empower a nation with the teachings of Christ or religion is a “Gift” bestowed to us by God. Yet! The Power and the Legacy to glorify His name are archives and literature that the church keeps and produces to communicate with its congregation and the community it is supposed to serve. A Church Library is a duty every ministry should have as a tool to mobilize its resources and effectively maintain its teachings to keep the “Word” alive and the devil at “Bay” while protect vulnerable souls from evil. So! It goes without saying that no church should be without a library. The library should be part of the communication and education center for all church matters. This means that the church should formulate or establish a team of education and communication members to manage and execute every other mission pertaining to the development, activities and ministry of the church. Therefore, the literature and its communicati...

Launch Your Own Church Broadcasting Podcast

Get a powerful and most popular Radio Podcast Station mobile Broadcasting platform to cover local and international audiences for less than R599 ! Record all 4 messages monthly to Get maximum exposure. Attract NEW members and followers to your church through our Radio Podcast Platforms -enjoy the success and blessings every Pastor should know about this technology! Promote & Keep Your Congregation GROWING! Constantly feed them HOPE and inspiration to COPE with daily challenges! Informed Empowered Updated with the latest Gospel prayers and Teachings LET YOUR CONGREGATION - DOWNLOAD & LISTEN - To your message on Google Play - iTunes and many more... Start Your Journey today . We will set you up in just 24 Hours - stream your radio broadcast to your congregation, listeners, followers and supporters ASAP. Call: 083 928 8165 - For An Appointment   "We Do The Work-You Do The Word" Our prices are subject to change without notice

EP.8 SMME Top Newspaper FREE Adverts Invitation

What if there was a way for small business to advertise their services and businesses on a platform that is dedicated to serving their needs. Where we can assist small businesses to share advertising space on a limited budget and still afford to get buyers and customer exposure of over 5,000 to 10,000 viewers? Buy Power Of Soweto Markets We have a solution for there entrepreneurs to explore alternatives to advertising in order to attract more leads and sales. Remember Soweto demographics and the buying power is growing in leaps and bounds.  Until we can find a more affordable advertising platform that will integrate your advertising and marketing efforts as a small business. It will be impossible for any SMME to grow out of the kitchen table. As a result we invite you to take advantage of this opportunity as there are various methods, to help SMME reach their full potential. In order to understand where we are going with this you can contact us via a WhataApp number on ...