BRICS Women's Business Alliance (WBA) Trade Focuses on Women's Inclusion in Projects and Economy

The BRICS Women's Business Alliance (WBA) Trade event held in Durban has put a spotlight on the need to ensure women's active participation in BRICS projects and the broader economy. KZN Premier Nomusa Dube-Ncube emphasized the importance of addressing the issue of women's exclusion to achieve more equitable economic growth.

The WBA Trade event served as a precursor to the main BRICS summit, which will gather leaders from Brazil, Russia, India, China, and South Africa. These countries collectively represent a staggering 24% of the world's gross domestic product (GDP), underscoring the significant potential for enhanced trade and investment cooperation among them.

Dube-Ncube highlighted KwaZulu-Natal (KZN) province's vital role in the economy, noting its substantial contribution to the country's GDP. The province is positioning itself as an economic powerhouse with robust infrastructure development initiatives. Notably, KZN boasts a world-class multi-modal transport system and is home to special economic zones like Dube Trade Port and Richards Bay Industrial Development Zone.

Acknowledging the challenges posed by the Covid-19 pandemic, the unrest in 2021, and recent floods, KZN is steadfastly committed to revitalizing manufacturing and generating employment opportunities. The provincial government has already invested significant funds in infrastructure development projects to support these goals.

An integral part of KZN's economic strategy involves the expansion of premier ports under the guidance of Transnet SOC, the custodian of ports, rail, and pipelines in the country. This expansion project, estimated at over 150 billion, is anticipated to create approximately 600,000 direct and indirect jobs during its implementation.

Dube-Ncube expressed the province's dedication to job creation, aiming to add nearly 500,000 jobs to the public service in the current fiscal year. The province views its role as that of a developmental state, actively catalyzing economic growth and development.

In conclusion, the BRICS WBA Trade event in Durban has reinforced the importance of gender-inclusive economic growth within the BRICS framework. KZN's commitment to infrastructure development, job creation, and economic revitalization aligns with its determination to contribute significantly to the broader South African and BRICS economies.