Statement on the BRICS bank R17 billion loan to improve SA’s water and sanitation infrastructure and R5 billion loan to Transnet
5 September 2024
The uMkhonto weSizwe Party welcomes and appreciates the R17.86 billion (US$ 1 billion) loan given to South African government by the New Development Bank (BRICS Bank) to develop water and sanitation infrastructure. We also appreciate the R5 billion loan to TRANSNET, despite our legitimate reservations about the capacity of the current TRANSNET leadership.
We appreciate and welcome the loan from the BRICS Bank because we know that such a loan will not come with neo-liberal and neo-colonial conditionalities that always accompany loans from the World Bank and International Monetary Fund. We appreciate and welcome the loan from the BRICS Bank because, it is President Jacob Zuma who took the correct political decision to join BRIC in 2010. This was part of building an alternate and fair world system free from the West's neo-colonial and neo-liberal control and micromanagement. It was in 2010 under the visionary leadership of President Zuma that BRIC (Brazil, Russia, India, and China) became BRICS through the addition of South Africa.
Despite many distortions and propaganda spread by agents of imperialism and their domestic collaborators, President Zuma is a visionary who delivered the most impactful infrastructure during his tenure as President of South Africa.
President Zuma built international and global partnerships which continue to and will benefit the people of South Africa forever. President Jacob Zuma knew that the prosperity of our country lies on building mutually beneficial relationship with progressive countries in the world such as Brazil, Russia, India and China. South Africa is now beginning to reap the benefits of BRICS participation.
President Jacob Zuma joined BRIC in the year 2010 when many people did not understand and appreciate the value of such a developmental partnership. We are here today, BRICS is expanded to include the Federal Republic of Ethiopia, the United Arab Emirates, the Islamic Republic of Iran, Repüblica Argentina, Arab Republic of Egypt, Kingdom of Saudi Arabia as part of a progressive group of countries in pursuit of common economic, financial, social and political cooperation and prosperity. What President Zuma saw in 2010 is being realised and appreciated by many progressive countries in the world today.
We as uMkhonto weSizwe Party will always cherish, embrace and defend the unblemished legacy of President Jacob Zuma. Without any doubt, South Africa's participation and developmental benefits from BRICS are a solid and sound legacy of President Jacob Zuma. He has saved future generations from total control of the World Bank and IMF by participating in alternate platforms such BRICS.
Issued by Nhlamulo Ndhlela, Head: Media and Communications, MKP, 5 September 2024
