The International Commodity Summit (ICS2025) has officially launched with the aim of transforming South Africa’s trading landscape. Set to convene world leaders and industry experts from around the globe, the summit promises to be a pivotal event dedicated to enhancing investment in the commodities sector.
The ICS2025 has positioned itself as an economic catalyst, working alongside local and national governments to bolster South Africa’s economy. The focus is clear: to promote trade, foster innovation, and expedite decision-making in the commodity markets. The summit aims to establish itself as a premier annual networking platform for the commodities sector, highlighting the immense potential within the industry. According to projections, the nominal value of South Africa’s commodities market could reach an impressive 1,682 billion US dollars by 2025, with an annual growth rate of 3.38% projected until 2029.
Anje Kruger, CEO of Hibarri, stressed the summit’s unique position in the market, stating, “We are not a Mining Indaba competitor. We appreciate the work done by Mining Indaba and share a common goal of growing this country. However, we have a different approach.”
Kruger highlighted the urgent need for a large-scale export-focused commodity event in South Africa, emphasizing the importance of direct market access for local miners.
“We are the heartbeat of the world’s commodity supply. If we continue selling our resources to foreign trading companies, we weaken South Africa’s economy while building another,” said Kruger.
The ICS2025 aims to bridge the gap between local producers and international markets, offering a platform where miners can sell their commodities directly to foundries and smelters, thereby retaining equity and benefiting from prepayments.
This strategy not only supports miners but also strengthens the overall economy by keeping profits within South Africa. The summit aims to attract various stakeholders ranging from the governmental, business, academic and investment sectors, facilitating essential connections for local producers, and entrepreneurs.
The launch of International Commodity Summit 2025 marks a significant step towards creating South Africa’s own commodity Indaba, expanding the focus beyond mining to encompass agricultural products, energy resources, and building materials.
This integrated approach aims to empower a wider range of sectors, ensuring that South Africa’s rich resources is used to the beneficial of the country, and advancing the country’s economic growth.
