Experts discuss strategies to enhance intra-BRICS cooperation for economic growth

 By Malatji Monyelegwete | malatji.monyelegwete@ul.ac.za

As part of recognising the vital role played by economic growth for a nation’s progress, the University of Limpopo (UL) is leading discussions on developing strategies to propel South Africa forward by partnering with key stakeholders in the field of economic development

UL’s Faculty of Management and Law joined forces with the South African BRICS Think Tank and the National Institute for the Humanities and Social Sciences to host a groundbreaking seminar aimed at enhancing intra-BRICS cooperation for economic development.

Themed ‘Promoting Intra-BRICS Cooperation for Economic Growth and Development through Lessons on Public-Private Partnerships’, the event provided a vibrant platform for academics and policymakers to tackle pressing issues and strategise on fostering economic growth. The BRICS bloc—comprising Brazil, Russia, India, China, and South Africa—represents a significant share of the world’s population and economic output, making such discussions crucial.

One of the seminar’s highlights was a presentation by Arina Muresan, a Senior Researcher at the Institute for Global Dialogue at the University of South Africa (Unisa), who explored the impact of Public-Private Partnerships (PPPs) in education. She underscored the critical role private education providers play in bridging gaps in norms and infrastructure. “Companies like Vuleka Schools, Future Nation Schools, Curro, and Spark Schools are not just offering educational opportunities—they are easing the burden on public schools, allowing them to focus on improving the quality of education,” Muresan explained.

Dr Onkgopotse Madumo from the University of Johannesburg (UJ) delved into the potential of PPPs on improving water service delivery in South Africa, a country facing severe water scarcity. “Municipalities as Water Service Authorities face challenges like limited investment and aging infrastructure. PPPs offer a viable solution, but their success varies across BRICS nations due to different political, economic, and social contexts,” Madumo noted.

Prof Omphemetse Sibanda, Executive Dean of the Faculty of Management and Law at UL, presented on leveraging PPPs to boost international trade within the BRICS bloc. He highlighted the BRICS bloc’s growing influence, noting that it now accounts for over 18% of global exports and plays a crucial role in regional economic hubs.

In his remarks, Prof Samuel Koma, Director of the School of Economics and Management at UL, emphasised the seminar’s role in fostering academic collaboration amongst BRICS nations. “This platform allows us to share insights on key themes like Special Economic Zones, International Trade, Education, and Water Management,” Prof Koma stated.

Prof Koma also presented on ‘Propelling Economic Growth through Special Economic Zones (SEZs)’, explaining how BRICS countries are leveraging PPPs in trade, manufacturing, agriculture, and mining. He pointed out that in South Africa, these partnerships are central to the success of SEZs, which are bolstered by fiscal incentives to attract foreign direct investment and boost international competitiveness.