South Africa continues to play a key role in advancing cooperation within BRICS and beyond, with a focus on trade, infrastructure and inclusive economic development. This was stated by Elias Monage, President of the Black Business Council in an exclusive interview at the TV BRICS studio in the Roscongress International Cooperation Area at St. Petersburg International Economic Forum (SPIEF) 2025.

He noted that South Africa, since joining BRICS in 2010, has actively contributed to its institutional and strategic development. This includes support for the New Development Bank (NDB), which was established to fund key projects across member states. Under its past chairmanships, South Africa has also contributed to the identification and promotion of cross-border infrastructure projects – including initiatives in energy, logistics, aviation, and transport.

A significant part of this strategy, he said, involves ensuring that South Africa acts as a gateway for broader African participation in BRICS initiatives. With the continent’s growing population and unified trade landscape under the African Continental Free Trade Area, South Africa is encouraging stronger trade linkages between the continent and BRICS nations.

“We are then saying the continent needs to develop together with South Africa in forging ahead and moving ahead on trade investments,” he said, emphasising the importance of including African development in the wider BRICS dialogue.

Monage underlined the value of SPIEF as a platform for meaningful exchange between business leaders and policymakers. Forums like SPIEF, he explained, help businesses navigate international regulations and identify investment opportunities.

“There is a greater environment in our respective countries. For example, if we are going to talk about pharmaceutical sector or industry, you need to understand what are the protocols in various countries, what is doable,” he said, pointing to the importance of clear frameworks and open dialogue.

In turn, Pavel Yakovlev, Chairman of the Russian side of the Russia-South Africa Business Council, pointed out the growing interest in technological cooperation between the two countries. In his view, both Russia and South Africa have come to recognise the strategic importance of joint development of key industries.

He said that mutual trade flows are diversifying, with South Africa expanding imports of Russian agro-industrial products such as poultry, meat and grain, while Russia sees interest in South Africa’s advanced farming technologies, especially in citrus and fruit production.

Yakovlev also mentioned an ambitious industrial collaboration currently underway.

“Together with our South African partners, we are working to create a new-generation truck that will meet the needs of both markets,” he stated.

According to him, entrepreneurs across the BRICS and BRICS+ countries are actively seeking to deepen business ties. Yakovlev noted that improving logistics remains a priority for further strengthening trade. In his view, establishing direct maritime routes – for example, between St. Petersburg and Cape Town – could significantly increase the efficiency of cargo exchange.

He also underlined the importance of closer coordination between central banks and finance ministries to expand the use of national currencies in settlements.

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