Tafelberg Short: South Africa in BRICS

BRICS members are only able to strike individual country-to-country deals rather than group agreements, it will undermine the cohesion of the BRICS partnership. On one of the key envisaged new institutions to be established by BRICS, the BRICS development bank, the group only agreed to the principle of setting up the bank, but disagreed on most of the important details.
The envisaged development bank would be an alternative to Western lenders such as the World Bank, and would provide finance for development, infrastructure and industrialisation for BRICS, developing countries and Afric