THE INFLUENCE OF BRICS ON SA’S ECONOMIC POSITION TAKES CENTRE STAGE AT A VUT ALUMNI ENGAGEMENT SESSION

blank

By: Themba Nyovane – 23 May 2023

Mr Dumasi with VUT Students who attended the event

At the recent Vaal University of Technology (VUT)’s alumni engagement session, the influence of BRICS (Brazil, Russia, India, China and South Africa) association on South Africa’s economic position, topped the agenda.

Organised by the institution’s Alumni Relations Department, the event was addressed by Mr Tshepiso Dumasi, a VUT alumnus who holds a National Diploma, B-Tech, and M-Tech degree in Marketing which he obtained from the University.

Born and raised in Teneriffe, a small village north of Polokwane in the Limpopo province, Dumasi has made significant strides in the corporate sector where he left an ever-lasting mark not only in South Africa but also in numerous African countries such as Zambia, Malawi, DRC, Burundi, Rwanda, Kenya, Tanzania, and Nigeria. By his own admission, Dumasi says his ascendance to the corporate echelons was not an overnight thing – he says he started from the bottom as a sales representative and worked his way up the ladder until he became a respected top executive of numerous reputable multi-national companies like Bidvest, LafargeHolcim and SAB Miller to mention a few. Recently, he has ventured into the business world, where he leads his own company.

 

In his address, Mr Dumasi highlighted that despite the challenges faced and imposed by the global economy we face as a country, we need to be decisive and align ourselves with opportunities to implement meaningful reforms with an ultimately goal of building strong, sustainable and balanced growth of the economy. He added that through reservoir minerals and resources that South Africa has, the call for the BRIC nations association in 2010, was pivotal for Africa as continent. This afforded SA vast opportunities, through trade and market access, direct foreign investment which includes a long-term physical investment, such as institutional development and industrialization of companies.

“Whatever has been broken can be certainly fixed, and being part of the BRICS nation, along with the rest of the Global Economy, affords South Africa better collaborations which will in turn improve the economy in South Africa,” he said.

He also encouraged students to think globally and act locally while developing skills and traits to be able to operate locally, adding that they should empower themselves with knowledge because an era will come where knowledge will be interim power.

As a VUT alumnus, Dumasi is no stranger to the institution – late last year he launched his book: Uncovered on campus and also donated 30 copies to the University Library. This noble act is underpinned by one of VUT alumni relations’ pillars which aims to encourage the alumni community to stay in touch with the institution and contribute to its future development.

X