Posts Tagged ‘BRIC’
South Africa’s invitation to join the BRIC (Brazil, Russia, India and China) group of emerging economies has been controversial.
Jim O’Neill, chairman of Goldman Sachs Asset Management, says it is not entirely obvious to him why the other BRIC nations should have agreed to the inclusion of South Africa in the grouping.
Many analysts are sceptical about South Africa’s suitability to join the Bric group of emerging economies, the Sunday Times reported yesterday.
While South Africa is the larger economy, Nigeria is expected to catch up in the next few years.
Two of Brazil’s largest banks and a Portuguese peer announced that they have joined forces to invest in financial services companies across six African countries.