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Elumelu explores BRICS prospects

27 August 2013, 13:11

Johannesburg - Nigerian billionaire and business leader, Tony Elumelu, called on the BRICS (Brazil, Russia, India, China and South Africa business leaders to assist African entrepreneurs expand their businesses beyond the continent to the BRICS countries.

Speaking during an event business leaders from BRICS and 19 other African countries, Elumelu spoke of the need for mutually beneficial partnerships between African countries and the BRICS nations.

"A new crop of African entrepreneurs are emerging who have ambitions beyond the continent. They should be investing in the BRICS countries in the same way that BRICS are investing in Africa - this relationship needs to go both ways,” Elumelu said in Johannesburg, South Africa.

Elumelu was speaking at a panel session on “Specific measures and initiatives to increase business, trade, manufacturing, and investment ties between the BRICS countries and Africa”.

Donald Kaberuka, President of the African Development Bank, chaired the session, which provided valuable insights from other prominent African business leaders.

Among these were Mo Ibrahim, Isabella Dos Santos and Johann Rupert.

Elumelu said African business leaders agreed that they had sufficient resources to enhance the continent's growth.

"There are enough of us to make a difference.  We need to work together to find ways of increasing trade and investment ties between the BRICS nations and Africa,” he added.

 - CAJ News


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