South Africa assumed the Presidency of the G20 on 1 December 2024, marking a historic milestone as the first African country to lead this influential group of the world’s largest economies.
Speaking at the official launch in Cape Town on 3 December 2024, President Cyril Ramaphosa said South Africa will use its Group of Twenty (G20) Presidency to build a more inclusive and prosperous Africa and a better world, ensuring no one is left behind.
President Ramaphosa outlined the country’s ambitious agenda under the theme ‘Solidarity, Equality, and Sustainability’.
“The G20 Presidency is a valuable opportunity for South Africa to advance efforts towards greater global economic growth and sustainable development.
It is an opportunity to place the needs of Africa and the rest of the Global South more firmly on the international development agenda.
“Through South Africa’s G20 Presidency, we will work to build a better Africa and a better world, and to ensure that no one is left behind,” the President said.
He announced that the Department of International Relations and Cooperation (DIRCO) Minister Ronald Lamola, Treasury Minister Enoch Godongwana and The Presidency led by Director-General Phindile Baleni will be tasked with leading and making the G20 process a success.
The President acknowledged the enormous responsibility of leading the G20 group which includes the world’s major economies, representing 85% of global Gross Domestic Product, over 75% of international trade, and about two-thirds of the world population.
“The grouping therefore plays a critical role in influencing global policymaking and fostering global economic stability. Decisions taken by the G20 have a direct impact on the lives of all members of the global community.
“It has a wide agenda that now includes trade, sustainable development, health, agriculture, energy, the environment, climate change and combatting corruption,” the President said.
The G20 is an international forum of developing and developed countries which seek to find solutions to global economic and financial issues. It comprises 19 countries including: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, the United Kingdom, and the United States and two regional bodies: the European Union and the African Union.
Benefits and challenges
The G20 is expected to have significant economic benefits for South Africa, notably for the tourism, transport, restaurant, entertainment and hospitality industries (as well as the wider economy) with global visibility in all nine provinces.
South Africa will host about 130 meetings (virtual and in-person) between 1 December 2024 and 30 November 2025, across the country and on the margins of major international conferences and meetings.
The president noted that South Africa’s Presidency comes at a challenging time, with global crises ranging from climate change to inequality, poverty, geopolitical conflicts, and sluggish economic growth. He emphasised the need for collective action to tackle these issues, ensuring that solutions are inclusive and equitable.
“While the challenges we face are common, their causes and consequences are unevenly distributed across and between countries.
“Working together with G20 members, and building partnerships across society, South Africa will seek to harness global will and capabilities to confront these challenges. The G20 provides us with a platform to pursue these collective goals.”
Key priorities
President Ramaphosa outlined four key priorities for South Africa’s G20 Presidency: strengthening disaster resilience, ensuring debt sustainability, mobilising finance for a just energy transition, and harnessing critical minerals for inclusive growth.
Through its G20 Presidency, the country aims to escalate discussions on climate-induced disasters, advocating for enhanced global support for post-disaster reconstruction, particularly for vulnerable nations.
The president further announced that South Africa’s G20 Presidency will pursue progress on cross-cutting issues through the establishment of three dedicated task forces. These will include a task force focusing on Inclusive Economic Growth, Industrialisation, Employment and Reduced Inequality; a second task force focusing on Food Security, and the third task force focusing on Artificial Intelligence, Data Governance and Innovation for Sustainable Development.
The G20 Presidency will culminate in the Leaders’ Summit in Johannesburg in November 2025, where world leaders will adopt a declaration outlining agreed collective actions to address critical global challenges.
For more information visit: https://www.sanews.gov.za
