The Department of Trade, Industry and Competition, as well as the Industrial Development Corporation have signed memorandums of understanding with the China-Africa Development Fund and the Bank of China. The IDC signed its MOU with the Bank of China to strengthen regional trade and investment. The two entities are in the process of concluding a R10 billion funding package over five years. This comes as the BRICS summit enters its third day.
The Department of Trade, Industry and Competition’s International Operations Director, Paulina Mamogobo unpacks the significance of these memorandums.
Tune into Newzroom Afrika DStv channel 405 for more.
