Mining mogul Patrice Motsepe has called on African nations to consider the implementation of preferential visas for entrepreneurs.
Motsepe made the call during an interview at the 15th Brics summit`s business forum on Tuesday in Sandton. The billionaire entrepreneur drew attention to the idea that has been in circulation since 2013.
His remarks came as part of discussions at the Brics business forum, on the sidelines of the three-day Brics summit which ends on Thursday. He highlighted the need to expedite the visa application process, acknowledging the legitimate concerns of governments regarding maintaining sovereignty while promoting economic growth through entrepreneurship.
Motsepe emphasised:
We must expedite the visa process. While we recognise and support the necessity for governments to manage their borders, these are opportunities that have been discussed for a considerable period.
He also advocated for immediate action, suggesting that preferential access to visas could be extended to businesspeople from China, India, and Russia - the key players within the Brics bloc.
As the inaugural chairperson of the Brics Business Charter in SA, Motsepe reflected on the growth of trade between the country`s CEOs and their counterparts in other Brics nations. He noted that trade between South Africa and Brics countries in goods and services began in 2013, with just under $100 billion, with an ambitious goal to reach $400 billion.
Motsepe acknowledged the strategic significance of the Brics partnership, noting that while the European and US markets were substantial, the formation of Brics had significantly bolstered South Africa`s economic ties with countries such as India, China, and Brazil.
`From a Brics perspective, granting visas to entrepreneurs from these countries would enable them to explore business opportunities not only in South Africa but across the continent,` Motsepe said, characterising India, China, and Brazil as `remarkable destinations` for business endeavours.
Stella Ndabeni-Abrahams, the minister of small business development, voiced her support for the proposed Brics visas for entrepreneurs.
Speaking to News24, Ndabeni-Abrahams emphasised the importance of creating a conducive environment for businesses to thrive by addressing regulatory obstacles, including those related to visa issuance.
`To facilitate economic growth within the Brics alliance, it`s imperative that we address regulatory barriers, including those concerning visas.`
Ndabeni-Abrahams elaborated:
These matters are currently under discussion among the home affairs ministers of Brics member states.