South Africa, China sign power deals during BRICS summit
South Africa has signed deals with China to upgrade its energy sector, including nuclear power plants, as the country aims to address its energy crisis and boost its economy.
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Posted 8/23/2023, 11:43:00 AM
reuters.com
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China has promised extensive cooperation in the energy sector with South Africa and advised streamlining tender processes and relaxing BEE policies to make cooperation easier, according to Chinese officials at the BRICS summit in Johannesburg.
South Africa is poised to expand its agricultural trade and globalize its economy as it enhances its position within the BRICS grouping, with the ZZ2 Farming Company using cutting edge technologies and tariff agreements to facilitate agricultural trade with other BRICS countries; the expansion of BRICS will create a powerful group of growth economies that will demand multilateral reforms, increase collaboration among growth economies, and enhance the use of regional currencies.
The head of the International Energy Agency has called on the US and China to put aside their differences and collaborate on climate change, warning that geopolitical tensions are impeding the transition to clean energy. He also emphasized Africa's potential to play a significant role in the energy transition and urged the international community to support the continent in realizing its renewable energy potential.