Brics launches ARC, Africa’s face of NDB

THE Brazil, Russia, India, China and South Africa (Brics) bloc of countries officially launch the long-awaited Africa Regional Centre (ARC) of the Brics New Development Bank (NDB) in Sandton this year.

The ARC will be the face of the NDB in Africa. It will work closely with the government, public and private-sector agencies, and other relevant stakeholders, to identify projects that have a strong development impact.

It will also play an important role in preparing such projects so that they can be financed and support their effective implementation.

The Brics Business Council, on the other hand, rallies behind a number of initiatives including small and medium enterprise development, skills transfer programmes, increasing collaboration with the NDB, the discussions surrounding the establishment of a Brics rating agency, e-commerce collaboration and the issuance of an investment guide, among others. – Siseko Njobeni