Some eye-catching numbers from Standard Bank out today on the influence of BRICs countries — Brazil, Russia, India and China — on Africa.
First off, the bank says the global recession and its recovery have been nourishing these so-called South-South ties. But it is all now ready to take off. The bank estimates:
– By 2015, BRIC-Africa trade will have incresed threefold, to $530 billion from $150 billion this year.
– BRICs share of Africa’s total trade will increase from one-fifth today to one-third in the next five years.
– BRICS foreign direct investment stock in Africa will swell to more than $150 billion from around $60 billion today.