The Township Economic Commission of South Africa (TECSA) and the Department of International Relations and Cooperation (DIRCO) BRICS Directorate are co-hosting the Township Economy in BRICS Dialogue on August 15, 2023, in Orlando West, Soweto. Minister Maropene Ramokgopa will attend the event, which is the first of its kind, just a week before the much-awaited 15th BRICS Summit in Sandton, Johannesburg.
Township Economy and Challenges
South African townships have evolved significantly over time, transforming into centers of cultural preservation, entrepreneurship, innovation, and resilience. These positive factors have contributed to the growth of the township economy, which showcases the potential of local communities to drive national growth, inclusivity, and sustainable development. However, there are still many ongoing historical inequalities present.
Aims of TECSA and DIRCO BRICS
The Township and Informal Economy in BRICS forum, which promotes the integration of townships into broader BRICS social and economic discussions, will be established and launched during the BRICS dialogue. The event also provides a platform for participants to examine the social and economic challenges that hamper the growth of micro-economies within townships. The goal is to expedite the development of the Township Economy.
The 2023 Presidency Theme
The event’s theme, “Leaving No One Behind,” is central to the BRICS dialogue, attracting an array of participants from various economic sectors and locations, including township entrepreneurs, intermediary organizations, representatives from BRICS countries, government departments, and Soweto residents. The groundbreaking event will take place at the Sud Restaurant on Vilakazi Street in Soweto and is open to media coverage, allowing the public to observe the strides made towards integrating townships into the global economic landscape.
Collaborative Approach
The BRICS dialogue is a crucial step towards addressing the ongoing social and economic disparities within South African communities. It is the first event of its kind, highlighting the successes of township economies, encouraging exploration and collaboration to overcome the challenges faced by these communities. The event fosters a spirit of unity and collective problem-solving by bringing together a diverse group of participants, including entrepreneurs, government officials, and residents.
Positioning Townships in the Forefront
Townships have historically been excluded from mainstream economic discussions. The Township Economy in BRICS Dialogue seeks to change this narrative by positioning these communities at the forefront of BRICS economic discourse. By providing a platform for township voices to be heard, the dialogue empowers local entrepreneurs and communities in their ongoing quest for economic growth and social inclusivity.
Importance of Local Potential
The BRICS dialogue serves as a reminder of the importance of harnessing local potential when striving for national development. It highlights the crucial role played by grassroots innovation and entrepreneurship in driving broader economic growth by focusing on the successes and challenges faced by township economies.
A Testimony to South Africa’s Commitment
The Township Economy in BRICS Dialogue stands as a testimony to South Africa’s commitment to addressing social and economic disparities as it prepares to host the 15th BRICS Summit. The collaborative spirit fostered by the dialogue ensures that the growth and development of township economies remain a priority for BRICS countries in the coming years.
