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G20 Update - South Africa’s Agenda For The G20 Presidency
Setting The Stage For Africa’s Promise As The Next Frontier of Global Prosperity
By Shumirai Chimombe
G20 at a glance
South Africa assumed the Presidency of the Group of 20 (G20) on 1 December 2024 and will maintain the role until 30 November 2025.
The G20 comprises some of the world’s largest developing and developed countries, accounting for 85% of global GDP, over 75% of international trade, and two-thirds of the world’s population.
These include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom, USA, and two regional bodies, namely the European Union and the African Union.
The grouping was established to find solutions to global economic and financial issues, and this agenda has now expanded to include trade, sustainable development, health, agriculture, energy, the environment, climate change and anti-corruption.
In a special address at the World Economic Forum at Davos-Klosters, Switzerland on 21 January, President Cyril Ramaphosa outlined South Africa’s priorities for its Presidency which will culminate with the G20 Leaders Summit to be held in Johannesburg in November. He indicated that this is the first time in the history of the G20 that the Summit will be hosted on the African continent, and particularly momentous as it follows the admission of the African Union as a member. “This is a moment of great significance for South Africa, the African continent and for the world because it was in Africa where humans developed the capacity and the impulse for cooperation,” said President Ramaphosa.
“Cooperation has been one of the key markers of human development, touching on many aspects of life, from survival and social organisation to technological and cultural progress, which is what the G20 was established for: to foster cooperation to deal with the challenges the world faces. Cooperation is the bedrock of human civilisation.”
Putting The Spotlight on Solidarity, Equality and Sustainability
South Africa has adopted the theme ‘Solidarity, Equality, and Sustainability’ for its G20 Presidency. Within this theme it has identified four G20 priorities it believes need urgent action given the state of the world today. These include disaster resilience and response, debt sustainability for low-income countries, mobilising finance for a just energy transition, and harnessing critical minerals for inclusive growth and sustainable development.
“We will seek to get the G20 to focus more on how we can enhance solidarity through collective efforts to ensure that in the pursuit of progress for all, no person and no country is left behind….This is the foundation on which solidarity is built, and we will seek to spread this message and get it fully embraced by the G20,” - H.E. Ramaphosa.
He indicated that the persistence of inequality within and between countries remained one of the greatest impediments to growth, development and stability, and that the UN Sustainable Development Goal of reducing inequality is as much of an economic imperative as it is a social imperative.
“As the G20 we need deliberate and coordinated efforts to focus on inclusive growth based on responsive trade and investment to grow the incomes of poor nations and the poorest in society and to ensure equal access to opportunities especially for women and young people.”
Debt Sustainability
His Excellency added that among the many challenges faced by countries in the Global South are a lack of predictable financing for development and climate change, high levels of debt, and vulnerability to pandemics. Debt sustainability for low-income countries is therefore one of the four priorities of South Africa’s G20 Presidency.
Addressing Climate Change and Mobilising Finance
To achieve sustainability and sustainable development he emphasised that it is imperative for countries to meet the needs of the present without compromising the ability of future generations to meet their own needs. “It is therefore in the interests of all countries to act with greater urgency to reduce global emissions – and for industrialised countries to support the climate actions that poorer countries must necessarily take in line with and support of decisions of UN climate change summits.
Mobilising finance for a just energy transition is therefore another priority on South Africa’s agenda, to seek agreement on increasing the quality and quantity of climate finance flows to developing economies.
“It is simply not fair that over 60 percent of Special Drawing Rights go to a handful of wealthy countries. These drawing rights should be redirected to enable countries in Africa and other parts of the Global South to realise their developmental aspirations –to enable them to invest in infrastructure, in industrial development, in education and training, and in health care.”
President Ramaphosa highlighted the need to leverage private capital and use innovative forms of finance and taxation to raise additional resources for the sustainable development of countries in the Global South. He called on global finance institutions to derisk and support more financing for emerging and developing economies.
Disaster Resilience and Response
In the wake of the alarming rise in climate-induced natural disasters that the world is witnessing, South Africa has also identified the strengthening of disaster resilience as another of the priorities of its G20 Presidency.
H.E. Ramaphosa pointed out that while the economically developed countries can recover quickly because of their economic strength, the increasing rate of these disasters is affecting countries that can least afford the costs of recovery and rebuilding. To address this he called for special financing and insurance mechanisms to be made available to scale up funding for post-disaster reconstruction.
Harnessing Critical Minerals for Inclusive Growth
He proposed that a G20 framework on green industrialisation and investments be put in place to ensure progress towards promoting beneficiation and value addition to critical minerals close to the source of extraction. This would ensure that the countries and local communities endowed with these resources directly benefit the most, rather than be bypassed by the benefits flowing to other - often wealthier countries. We will use this G20 to champion the use of critical minerals – through a programme of green industrialisation – as an engine for growth and development in Africa and the rest of the Global South.”
Demonstrating Africa’s Promise of Economic Prosperity
President Ramaphosa indicated that the G20 Leaders Summit in Johannesburg will present a valuable platform to demonstrate Africa’s promise as the “next frontier of global growth and productivity”, which has “an unrivalled natural resource endowment, with the youngest population of all continents.”
He pinpointed the African Continental Free Trade Area (AfCFTA) as having the potential to change the economic and social fortunes of the continent.
“We will seek G20 support for the AfCFTA Adjustment Fund that will enhance inclusive growth, sustainability and regional integration. We will look to consolidate various G20 initiatives related to Africa into a flagship agreement for cooperation focused on implementation of investments in productive sectors in Africa in areas such as infrastructure. Infrastructure is propelling Africa’s growth.”
He called for investments in the development of skills that will fuel this infrastructure revolution particularly for Africa’s youth and the economic empowerment of its women. In the health sector he urged the G20 to support the local production of pharmaceutical products such as therapeutics and vaccines to deal with pandemics. He also emphasised the importance of the digitisation of the continent - particularly when it comes to Artificial Intelligence - to enhance trade and development is a key enabler.
Looking To The Future
In conclusion, H.E. Ramaphosa said that through its G20 Presidency, South Africa is well-positioned to advance global cooperation and build partnerships for growth and development.
“As the leaders of the G20 return to Africa, we make a call that we all harness these essential capabilities that will make us take action to build a better and fairer world. Acting together, we should build an inclusive, just and equal world in which all may prosper, leaving no one and no country behind.”
G20 At Work - Towards November 2025
Throughout the year South Africa will host a series of working group, task force and engagement group meetings across all provinces to focus on the G20’s core responsibilities to address global economic and financial challenges. These events will be attended by delegates from nearly 30 countries and representatives from over 20 regional and international organisations.
The G20 consists of two parallel tracks: the Finance Track and the Sherpa Track. The Finance Track is led by the finance ministers and central bank heads of each member country and it deals with strategic macroeconomic issues. There are seven technical groups and three dedicated task forces within this track:
Technical Groups
Global Partnership for Financial Inclusion (GPFI)
Financial Sector Issues
Framework Working group
Infrastructure Working Group
International Financial Architecture Working Group
International Tax Agenda
Sustainable Finance Working Group
Task Forces
Inclusive Economic Growth, Industrialisation, Employment and Reduced Inequality
Food Security
Artificial Intelligence, Data Governance and Innovation for Sustainable Development
The Sherpa Track is led by the personal representatives of the G20 leaders. This term is inspired by the Sherpas - an ethnic group from the mountainous region of Nepal who guide climbers to reach the top of Mount Everest. The G20 Sherpas oversee the negotiations and discussions that will form the agenda for the final Leaders Summit in November. The Sherpa appointed by the South African government is the Director-General of the Department of International Relations and Cooperation, Mr Zane Dangor.
This track consists of 15 working groups:
Agriculture
Anti-corruption
Culture
Development
Digital Economy
Disaster Risk Reduction
Education
Employment
Energy Transitions
Environment & Climate Sustainability
Health
Research & Innovation
Tourism
Trade & Investment
Women Empowerment
In addition, there are Engagement groups which will bring together civil societies, parliamentarians, think tanks, women, youth, labour, businesses and researchers of the G20 countries to discuss pertinent issues of concern to them.
Calendar of events/meetings
February
1st Education working group: 12-13 Feb
1st Digital Economy working group: 17-19 Feb
1st Women Empowerment working group: 17-18 Feb
1st Employment working group: 18-21 Feb
1st Task Force meeting: Inclusive Economic Growth, Industrialisation, Employment and Reduced Inequality: 19-21 Feb
1st Deputies virtual communique drafting session: 20-21 Feb
1st Foreign Ministers meeting: 20-21 Feb
1st Culture working group: 20-21 Feb
1st Research & Innovation working group: 23-25 Feb
2nd Finance & Central Bank Deputies meeting: 24-25 Feb
1st Artificial Intelligence, Data Governance and Innovation for Sustainable Development Task Force meeting: 25-26 Feb
1st Finance Ministers and Central Bank Deputies & Ministerial meeting: 24-27 Feb
1st Energy Transitions working group: 27-28 Feb
