The energy crisis is the Achilles heel facing South Africa, and the BRICS Summit is a huge opportunity to rewrite the rules on global co-operation.
This comes as the BRICS Summit has officially kicked off as Xi Jinping, the president of the People’s Republic of China, touched down on African soil at OR Tambo International Airport as top leaders gather for this long-awaited event with South Africa as the host.
However, while South Africa acts as the host, it just does not not seem able to punch above its weight on these BRICS partnerships.
This can be witnessed at the energy sector BRICS Summit. South Africa’s position appears mute and our leaders do not appear to be negotiating anything tangible on the energy crisis agenda. Instead, it is the usual rhetorical complaints and murmuring around irrelevant local and international political issues and squabbles.
Nothing of substance and serious nature has been discussed about South Africa, not even the quick win-win solutions to our energy crisis. This as there is no tangible end to load shedding in sight.
But I don’t hear, nor see, any serious debates and opportunities discussed with BRICS partners to step in and take a role and assist in resolving our energy crisis. There is great opportunity for partnerships and the BRICS partners are eagerly awaiting open invites to form part of the energy crisis solution partners.
However, I am not saying that we must surrender and hand over Eskom power stations to foreign control and destroy Eskom.
What we want is new energy, additional energy capacity, and mega build projects, serious deals in energy infrastructure to be agreed on, locked in and finalised during the summit. And at the end of the summit, President Cyril Ramaphosa should be able to walk away with major handshakes on energy infrastructure inked with its BRICS partners.
Summits such as these provide the BRICS partnership countries opportunity to seal in and conclude strategic deals for our country. We have the opportunity to forge deals to add additional energy capacity to expand our energy generation and grid expansion. This is a strategic battleground to solidify our policy position with the BRICS arena and bilateral trade deals.
So while we moan and complain about the energy crisis, the BRICS country partners have instant solutions to our energy crisis.
Here are a few quick win-win strategic areas of economic collaboration with BRICS country partnerships:
1. Oil and gas opportunities
2. Grid upgrade infrastructure
3. Roads, rail, sea freight energy transport infrastructure
4. Ports and harbour facilities
5. Coal, gas and nuclear and hydro power stations
6. Renewable energy smart cities projects
7. Hydrogen economy projects
8. Strategic economic infrastructure projects
9. Nuclear science and technology
All these items present billions and billions worth of capital investment projects into South Africa’s shores, but that will only happen only if deals are signed, implemented and executed properly.
In total, data shows that the BRICS economic bloc is worth a GDP of about $27.65 trillion (R520 trillion) combined.
The BRICS economic bloc now commands more than 40% of the global economy and trade and has overtaken the G7 countries in economic trade volume.
During the welcome ceremony at the official talks at the Union Buildings, President Ramaphosa said: “I am pleased to officially welcome you, President Xi, on your fourth state visit to South Africa.” Xi’s state visit also coincides with the 15th BRICS Summit hosted by South Africa.
This year’s BRICS Summit cannot be yet another glitz and glamour event with nothing to show after the summit is long over. This summit only comes around once every five years. Despite all the global quarrels and politics around who should align with which global economic bloc is irrelevant.
Ramaphosa together with the government and business delegation at the summit must provide clear leadership and use this summit to address the issues facing our country.
The key questions we must ask to those in authority is, what is their strategic plan and objectives for the 2023 BRICS Summit?
It cannot be business as usual. We have real economic and energy crisis challenges that demand a real commitment to end the suffering of our people.
The BRICS Summit is a vital launch pad and important platform to accelerate economic growth for our economy and society at large. South Africa must lose the mute button and realise its immense value it holds at the BRICS Summit. It’s time to act.
Crown Prince Adil Nchabeleng is president of Transform RSA and an independent energy expert.
* The views of the column are independent of Business Report and Independent Media.
BUSINESS REPORT