South Africa has the potential to use its membership of both the African Continental Free Trade Area (AfCFTA) and the Brazil, Russia, India, China, South Africa (Brics) bloc to stimulate its economic development. So points out advisory and analytics firm Frost & Sullivan Africa consultant Yaa Ngonyama. “Through the cooperation of these agreements and memberships, South Africa has the opportunity to transition away from its historic role as a commodity exporter towards higher productivity value addition,” she affirms. “Together, South Africa’s membership in Brics and AfCFTA presents several benefits that include improved investment, trade, tourism, skills acquisition, and technological capabilities, increased trade flow, influence in pan-African affairs, increased bargaining power, infrastructure development, and greater economic integration.”
