South African businesses are entering a more ambitious phase in their engagement with BRICS economies, focusing on deal-making, trade facilitation, investment mobilization, and measurable commercial outcomes. This shift comes over a decade after the inception of the BRICS Business Council, which has helped establish important relationships between South African businesses and some of the world's largest and fastest-growing economies. These relationships should form part of a broader strategy to diversify South Africa's economic partnerships.
South Africa's participation in BRICS has led to significant relationships across the East, West, and emerging South. The country should leverage these relationships to expand opportunities available to its businesses and strengthen its position within global and African value chains. The potential for growth is clear when considering the composition of South Africa's trade, with mineral and agricultural resources remaining important assets. The goal is to use these strengths as a foundation for greater beneficiation, manufacturing, advanced services, innovation, and technology-intensive production.
South Africa has capabilities across various sectors, including automotive manufacturing, pharmaceuticals, chemicals, agriculture, and agro-processing, machinery, financial services, renewable energy, digital services, and critical minerals. The task is to connect these capabilities to international markets and investment partnerships while creating conditions for South African companies to participate further up global value chains. The BRICS engagement offers a platform to move beyond traditional buyer-and-seller arrangements to co-investment, joint ventures, technology partnerships, manufacturing, research, and greater integration into international supply networks.
Attracting investment and identifying export avenues is only part of the equation; an enabling environment is also necessary for South African companies, particularly small, medium, and micro enterprises (SMMEs), to participate in these markets. For an SMME, the difference between a market that exists in principle and one that can be accessed commercially can come down to certification requirements, sanitary and phytosanitary standards, customs processes, regulatory uncertainty, access to trade finance, procurement possibilities, and the ability to make and receive cross-border payments.
Practical pathways are needed to enable smaller South African companies to find partners, secure contracts, enter supply chains, and expand into other member markets. This includes business matchmaking, procurement linkages, supply chain integration, and trade finance. BRICS cooperation can support partnerships in areas such as artificial intelligence, digital services, fintech, green hydrogen, pharmaceuticals, and critical minerals. The goal is not simply to increase trade in these sectors but also to develop partnerships that strengthen research, technology transfer, joint manufacturing, and advanced capabilities in South Africa.
The SA BRICS Business Council's evolution towards deal-making and trade facilitation is significant, aiming to connect institutional relationships and policy dialogue to specific commercial outcomes. The targets that emerged from the BRICS Business Forum 2026 provide a useful framework for this shift, including identifying and addressing the 10 most significant trade barriers among BRICS members, supporting 100 BRICS start-ups each year, and facilitating 1,000 new cross-border business partnerships.
For South African businesses, the value of these targets will ultimately be determined by what they unlock. This is equally important when considering South Africa's position as a gateway to Africa. The African Continental Free Trade Area provides an opportunity to connect South African production and services to a much larger continental market. South Africa's next BRICS presidency in 2028 provides an opportunity to shape an agenda around priorities that reflect its economic circumstances and position within Africa and the wider Global South.
Key points
- South African businesses are focusing on deal-making and trade facilitation with BRICS economies to drive growth and investment.
- The country aims to leverage BRICS relationships to expand opportunities for its businesses and strengthen its position within global and African value chains.
- South Africa's next BRICS presidency in 2028 provides an opportunity to shape an agenda around priorities that reflect its economic circumstances and position within Africa and the wider Global South.
