Mzansi people want free loans from the BRICS New Development Bank

Russian conflict with the Ukraine drew extra attention to the BRICS Summit. As a result the BRICS has become the talk of the town in South Africa… writes Godfrey Sigwela.

Though many South Africans don’t exactly understand the BRICS business activities, nothing is stopping them talking about it.

And so an armchair critic has raised the issue of the BRICS New Development Bank. In fact it appears that the New Development Bank has gained popularity from dozens of Mzansi people.

So why is the New Development Bank warming the hearts of many in South Africa?

According to one concerned BRICS critic it’s because people believe “we will be getting free bank loans from the BRICS bank”. This is one of the myths going around the Mzansi grapevine in business circles.

One can’t exactly blame people hoping to get free bank loans from the BRICS… since the South African government appears to have already opened that gap for freebies.

Firstly the government policy brought up an early retirement policy in which people over 35-years-old should not get jobs. Then later the government gave them a R350 social grant.

Being an unemployed graduate, not having a living wage, and we’re told that BRICS would have a positive impact on the South African economy, obviously one would hope to get a free loan because of being over 35-years-old.

Nevertheless, if the South African government is delighted to give out handouts, then they should approach the New Development Bank in order to increase the R350 social grant to become a living wage. Then everyone would be comfortable.

By Godfrey Sigwela