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BRICS members to listen to currency task team report at summit in Kazan

"South Africa might as well adopt the one that would be used in the African system to trade with partners all over," Mzuvukile Jeff Maqetuka said

MOSCOW, February 27. /TASS/. BRICS member-nations will summarize results of activities of the working group on the common payment system, South Africa’s ambassador to Russia Mzuvukile Jeff Maqetuka said in an interview with TASS.

"There is already a task team that has been set up to look at this payment system within the BRICS countries. And the report will be presented in Kazan as to the development. So at this stage, it is premature really for any BRICS country to conclude what payment system will be used or what payment systems [will be used]. South Africa might as well adopt the one that would be used in the African system to trade with partners all over," the Ambassador said. "We don't know what the outcome would be, but it is ongoing," Maqetuka added.

"On the question of currencies, as you know, the position of South Africa, within the BRICS format, we are for transactions on national currencies. That's the position of South Africa, and we are very strong on national currencies," the South African diplomat stressed.

The BRICS summit under the presidency of Russia will be held in October 2024 in Kazan.

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