By Manase Nyirenda

Johannesburg, August 21, Mana: Minister of Foreign affairs Nancy Tembo has said the BRICS will offer more access to developmental financing for Malawi, as the grouping focuses on economic development.

Tembo made the remarks on Monday on the sidelines of a meeting president Chakwera had with Malawian investors based in South Africa at Danvici Hotel in Johannesburg.

“The BRICS have huge ambitions for development financing and for the continent of Africa.  This gives us additional resources for financing projects in Malawi.

“That means Malawi will have a chance to tap into different funds for development in addition to the IMF and World Bank,” she said.

She said the president’s presence at the Summit will offer the government of Malawi a platform to engage the leaders of the BRICS on the challenges Malawi is facing.

The president is attending the summit on invitation by South African president Cyril Ramaphosa who is hosting the summit.

President Chakwera said he would take advantage of the summit to engage Malawi’s development partners on Malawi’s debts among others.

Brazil, China, India, Russia and South Africa (BRICS) is a grouping of five emerging world economies formed in 2006.

It accounts for a quarter of the world’s economy and at least 40 percent of the world’s economy.

Presidents of China, Xi jinping Brazil Lura Da Silva and India’s prime minister, Nalendra Modi respectively including many other invited delegates from different are also expected to attend.

Expansion of the BRICS is expected to feature highly at the meeting and Ramaphosa during his national address on Sunday said South Africa supports expansion of the BRICS.

The meeting officially opens on Tuesday, August 22 at Sandton Convention Centre in Johannesburg.