Zuma: Brics bank should be in Africa

Zuma: Brics bank should be in Africa

2013-05-09 17:15

Cape Town - The highly-anticipated Brics bank should be based in Africa, President Jacob Zuma said on Thursday.

"Africa feels the bank should be established here, particularly because the greater need for the bank is on the continent of Africa," Zuma told delegates at the World Economic Forum on Africa, in Cape Town.

He said he expected decisions about the details of the Brics bank to be made at the next summit in Brazil.

The leaders of the Brics countries  - Brazil, Russia, India, China, and South Africa  - signed a deal to establish the bank at a summit in Durban in March.

Brics finance ministers were working out the finer details of the bank, including its location.

"How do we capitalise the bank by the members of Brics... so it can meet the needs the developing world has?" Zuma asked.

Brics leaders were hoping the new development bank would rival the International Monetary Fund and the World Bank.

"[We need] to look at a different approach to the well-established old banks, which at times, if you wanted to deal with matters as quickly as possible, it was a little bit slow," Zuma said.

Earlier, Zuma said South Africa's membership of Brics represented a turning point for Africa and its economic activities. African countries had been overlooked too many times when it came to major world events.

"This time around, the Brics links indicate that Africa cannot be bypassed by the events that are changing the landscape economically, socially, and politically in the world."

Zuma said South Africa would represent Africa's more than one billion people through its membership of Brics.

"Africa's attitude to itself and how it should interact towards the world has changed," Zuma said.

One of the major problems Africa faced was funding infrastructure development. Brics partners and African leaders were discussing the matter, he said.

  • Hendrik de Villiers - 2013-05-09 17:52

    Yes, it should be in Africa near home - for easy dipping into the cookie jar!

      Deepchund Ramchurren - 2013-05-09 18:14

      Hendrik,you took the words out of my mouth. Agree 100% with you.

      CitizenOfSA - 2013-05-09 19:03

      Brickandla is the new extension planned for Nkandla project.

      Richard Scully - 2013-05-09 23:02

      I wanted to say that

      Mnr Bloubul - 2013-05-10 06:51

      Why did he not add "And the CEO should be Mr Gupta"?

      LĂ©viter Au-dessus des Montagnes-Bleues - 2013-05-10 07:32

      Add: it is SO DISAPPOINTING to see one's 'president' slouching in a chair close by to an ex-harem impimpi giggling contentedly like the little blackbird that got to the top on a steaming pile of dung pecking at the last corn kernel COMPARED to the spruced up professional and educated erudite others on the panel. EVEN WORSE that he had nothing definite to say, just to throw out allusions about what others have been constructing in the background. Does it pay to have an uneducated sly pathological warlord for a top job, or would it be better to have someone capable of grasping reality a bit further than sheer self-enrichment of one's own personal dynasty at every one else's expense (taxpayers). ZUMA = CLEAR VOTE OF NO CONFIDENCE IN ANYTHING. Top it off with the fact that JZ has stabbed every single person in the back that he has come close to, including in the cabinet! SLIT EYES CRAFTY SLY HUSTLER & WARLORD who has the gall & thick-skin to remain in an overspent construction at Nkandla at severe distress to the nation.

      Heinrich Nel - 2013-05-10 08:06

      wonder if old slime face a.k.a. Mr. Fornication a.k.a. Jacob "Me-are-leader" Zuma even understood what was going on around him through the entire WEF round of talks this week, because I saw him on the news and his eyes looked pretty glazed if you ask me. Just for the simple-minded people out there, I'm not being racist (as is always the go-to response) I just hate him because his unintellectual and doesn't even have matric (not that matric means anything, still its the thought that counts)

      Maartins Siphiso - 2013-06-10 09:52

      Keep quiet & come cut my grass.

      Themba Maboko - 2013-09-02 14:10

      Well said

  • Malcolm Nothling - 2013-05-09 18:04

    Is this a gupta & shaik idea? You should become a comedian. You're already a chameleon.

  • Winifred Watson - 2013-05-09 18:17

    Preferably just downstairs from lootoolie house. hmmmmmmmm east access.

  • Shaun Cousins - 2013-05-09 18:24

    you cant even run a country let alone a bank

  • Andrew Crawford - 2013-05-09 18:36

    And which country do you suggest it should be situated in? Zimbabwe, CAR or maybe Swaziland! Oh, South Africa you say...I think the Bric countries may not be that stupid and have a few doubts about the levels of trust or corruption. Cadre deployment to staff the bank when most of our municipalities cannot get a clean audit. When will you realise that SA's reputation is effed! They will not trust the ANC!

  • Graham Salamander Frederick - 2013-05-09 18:51

    The problem here is that any of us with a sense of morality can make whatever statements we want to regarding this disgusting bunch who continue to loot South Africa in the name of Governance.In fact, they don't care. Nothing.Their stupid voters will keep them in power whatever they do. So, steal whatever, whenever.It's the ANC. Get used to it, it's not going to stop.

      Anthony Michael - 2013-05-09 20:30

      Graham, You call Zuma and his Cabinet Ministers; Corrupt !! I CHALLENGE YOU: Show ANY CONCRETE PROOF, that President Jacob Zuma,or ANY of his cabinet Ministers have enriched themselves , at he expense of the taxpayer, while in goverenment!!! Don't run away, BE A MAN, you accuse our leaders, NOW COME WITH PROOF !!!

      Chris Faurie - 2013-05-10 09:30

      @Anthony, rather try and prove the opposite. Due to the fact that everything is swept under the carpet, they are guilty until provrn innocent.

      Willem de Haan - 2013-05-10 09:56

      dear Anthony, don't you read the papers? Or do you stick to the New Age? Or are you only being facetious? Or are you a dedicated cadre?

      Richard Scully - 2013-05-11 07:16

      It's already been proven in court in the Shaik trial

  • Bertus Pretorius - 2013-05-09 18:53

    Planning some renovations to your little place soon, zuma?

  • Nduduzo Emmanuel Mdluli - 2013-05-09 19:06

    Some comments in here are so pathetic. How is your negativity contributing to the situations at hand. You constantly draging the name of our country to the ground with your foul talks and comments, the same country you so loudly claim to love. Aknowledge the situations at hand and do all you can to make this country the beautiful country you so desperatelty want it to be.

  • Thukhe Ndlovu Farmer - 2013-05-09 19:07

    This man is true comedian, i heard he kicked out of that proffession for deeping his fingers very deep into the jar, then he tried his shrewed hand in politiko, and he just went on with his sticky fingers into the jar, here no one want to kick him out and now he got so bold he wants a world bank at his back yard, eish madoda, some people?

  • Alan Street - 2013-05-09 19:49

    Bribery Rmugabe Igupta Corrupt Shaik

  • Agent_RS452 - 2013-05-09 19:50

    And Brics Bank ATM should be in Nkandla.

      Micky D Mack - 2013-05-11 21:34

      Head Office Nkandla

      Ruth Majozi - 2013-05-19 14:37

      Boring! N stupid comment

  • Altus Kirsten - 2013-05-09 19:55

    I hope not....

  • Vivian Harris - 2013-05-09 20:07

    Didn't even bother to read the article. The bank should be in Africa so that he and Bob and all the corrupt cronies can rob it blind.

  • Richard Scully - 2013-05-09 23:04

    I thought I was the only person who regarded Zuma as the biggest thief on earth, I guess not. Everyone knows the same

      Ruth Majozi - 2013-05-19 14:36

      Who z everyone since am.not part of those who believe what u r saying is true

  • Chad Spence - 2013-05-09 23:07

    Having the bank located in (South) Africa has nothing to do with planned corruption. The bank would still be an international organisation even though its located on one specific country's soil. That means it would have an international staff and international management. Also a BRICS bank is a great idea. It presents a great opportunity for South-South cooperation to fund effective development from a global perspective and not simply spread the ideas of neoliberalism like the IMF and World Bank

      Ruth Majozi - 2013-05-19 14:35

      Could b anywhere in Africa.not just SA!

  • Alan Davis - 2013-05-10 00:07

    Of course Zuma wants the bank in Africa, he wants what will be in it so he can upgrade his house some more.

  • Sisie Indola - 2013-05-10 07:33

    He wants his share. And the tender will go to---ZUMA! Yeah!

  • Erich Goosen - 2013-05-10 07:50

    I agree with Zumpies. Much easier to plunder it if it is on your doorstep.

  • Chris Faurie - 2013-05-10 09:25


  • Pieter van Staden - 2013-05-10 20:14

    You will not get away if you steal from the chinese, they will put your nuts in blender mr prez.

  • Annemarie White - 2013-06-09 20:03

    Anthony Michael, you are a fake.

      Nowi Whati - 2013-06-09 22:03

      Anthony Micheal> one of these days i am going to find out where you live and when I do...... You better hope you are not home!!!!!!!!

  • Themba Maboko - 2013-09-02 14:10

    Africa refers to Inkandla-finish and klaar

  • Hell Gate - 2014-10-25 17:52

    Keep the Brics Bank away from Africa ,the Zuma administration is riddled with corruption and theft!!!!

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