South Africa’s Mineral Focus Has Driven Growth Beyond Mining: SA Economist
South Africa’s Mineral Focus Has Driven Growth Beyond Mining: SA Economist
Expanding the South African industrial base can bring in more people and support broader development, including energy access to help “light up Africa,” Xhanti Payi told Sputnik Africa.
Payi also highlighted the value of BRICS, particularly through the New Development Bank, which has played a crucial role in financing development, refining funding models, and opening new markets for member countries.
When production costs are paid in rand but sales revenues are earned in dollars, the resulting currency volatility disrupts local economies, the economist stated. He questioned how trade could be made cheaper and more stable to genuinely uplift African economies.
Watch the video to learn how Africa can leverage its rare earth minerals and local manufacturing.
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