A call for a pipeline of high-impact, bankable, cross-border projects

By Tafadzwa Chibanguza

The 17th BRICS Summit in 2025 reinforced a familiar ambition: deeper trade, stronger investment flows, and more meaningful industrial cooperation across the Global South.

These commitments are not new. What is new and urgently required is how we execute them. For too long, multilateral industrial cooperation has leaned toward declaration rather than delivery. The challenge is to fundamentally shift that dynamic.

The future of BRICS manufacturing cooperation will not be defined by the elegance of its communiqués, but by the strength of its project pipeline.

The central task is clear: move from broad alignment to structured execution.

That means building a disciplined pipeline of high-impact, bankable, cross-border projects grounded in real economic demand, particularly in infrastructure, energy, and logistics.

Each project must follow a standardised pathway, progressing from feasibility through to bankability, with clearly defined financing routes. Institutions such as the New Development Bank (NDB) are critical in this regard, but financing alone is not enough.

Projects must be anchored institutionally, with a lead country, an industry sponsor, and a defined execution structure. In this model, the MWG evolves into something far more consequential than a discussion forum. It becomes a platform for deal origination and execution, capable of translating political intent into measurable industrial outcomes.

As BRICS economies move forward with their integration, the nature of competitiveness is shifting.

Cost advantages alone are no longer sufficient. Increasingly, competitiveness will be defined by capability, by the ability to meet standards, deliver engineering excellence, and operate reliably within complex, integrated supply chains.

For South African manufacturers, this requires a strategic repositioning. Firms must invest more in digital integration, enabling traceability, interoperability, and alignment with original equipment manufacturer (OEM) requirements.

This is not simply about adopting new technologies; it is about embedding within coordinated, multi-country production systems.

Equally important is focus. South Africa cannot and should not compete across all segments. The opportunity lies in higher-value niches where the country retains comparative advantage, particularly those linked to infrastructure, energy, and mining value chains.

One of the most significant constraints to industrial expansion across BRICS economies is risk.

High sovereign and project risk premiums continue to deter private capital, particularly in infrastructure-linked manufacturing.

The proposed introduction of a guarantee facility linked to the NDB could be a pivotal intervention. By reducing perceived risk, such a mechanism has the potential to crowd in private investment and improve project bankability, bridging the often difficult gap between feasibility and financial close.

However, financial instruments are only as effective as the projects they support. Without a strong, credible pipeline and clear governance and eligibility criteria, there is a real risk that such facilities remain underutilised.

The expansion of BRICS is doing more than increasing membership; it is reshaping the global industrial landscape.

What is emerging is a parallel Global South trade and production architecture, one that creates new opportunities for South African and African manufacturers.

This shift requires a reorientation of supply chains. Traditional markets can no longer be the sole focus. Instead, Africa (strategically positioned with South Africa as a gateway) must increasingly serve as a production base within these evolving networks.

Demand is being driven by infrastructure development across the Global South, particularly in energy, transport, and water systems. This, in turn, creates sustained demand for metals, components, and engineering services.

The opportunity, therefore, extends beyond exports. It lies in greater inclusion into multi-country supply chains that underpin long-term industrial participation.

Industrial cooperation within BRICS is increasingly intersecting with three critical domains: critical minerals, renewable energy technologies, and advanced manufacturing.

These are not isolated sectors; they form the backbone of future industrial systems. Critical minerals are central to the global energy transition, presenting opportunities not just for extraction, but for beneficiation and downstream industrialisation.

Renewable energy technologies align closely with South Africa’s existing capabilities and are directly tied to both grid expansion and industrial demand. Meanwhile, advanced manufacturing, including additive processes and AI-driven production, offers a pathway to leapfrog traditional industrial development trajectories.

Together, these sectors signal a broader transition, from volume-based to value-based industrialisation.

Climate resilience and sustainability are no longer peripheral concerns; they are central to industrial competitiveness.

The manufacturing sector must reposition itself. Not as part of the emissions problem, but as a key component of the solution. This requires a dual approach.

On one hand, manufacturers must decarbonise their own processes through energy efficiency and cleaner inputs. On the other hand, they must supply the components that enable the green economy: renewable energy systems, grid infrastructure, and storage technologies.

There is also a growing imperative to adopt circular economy principles, including recycling and material efficiency. Increasingly, environmental compliance is becoming a prerequisite for market access. Sustainability, therefore, is not just an ethical consideration; it is a commercial one.

As we look ahead to the 2026 BRICS Summit under India’s presidency, the priority must be execution.

The success of BRICS manufacturing cooperation will not be measured by the number of new frameworks introduced, but by tangible outcomes delivered.

This includes establishing a formal MWG project pipeline with a focused set of priority cross-border projects, each with defined sponsors, timelines, and financing pathways.

It also requires progress on digital platforms that enable supply chain integration across BRICS economies, with clear sectoral focus areas such as energy infrastructure, critical minerals, and advanced manufacturing.

Ultimately, the metrics of success are straightforward: projects implemented, capital deployed, and supply chains integrated.

Anything less risks repeating the patterns of the past. Anything more signals a genuine shift toward a more coordinated, resilient, and inclusive industrial future for the Global South.

-Tafadzwa Chibanguza is Chair of the BRICS SA Business Council Manufacturing Working Group