SA Prepares for G20 Presidency to Drive Africa-Focused Agenda

The presidency will prioritize themes that resonate with both African and global economic development needs under the banner "Solidarity, Equality, and Sustainable Development."

South Africa will soon assume the G20 Presidency, beginning on December 1, 2024, with preparations bolstered by dedicated funding to key departments tasked with shaping the year’s agenda. Finance Minister Enoch Godongwana highlighted this unique opportunity in his Medium-Term Budget Policy Statement (MTBPS) delivered in Parliament, stressing South Africa's intent to advocate for Africa-centered policies on the global stage.

“This is a rare opportunity that only comes around every 20 years. We intend to use our voice to promote a truly Africa-focused agenda,” said Godongwana, emphasizing the importance of South Africa’s G20 leadership in advancing pressing regional issues.

Strategic Focus Areas for South Africa’s Presidency

The presidency will prioritize themes that resonate with both African and global economic development needs under the banner "Solidarity, Equality, and Sustainable Development." Preparations involve various government departments and institutions, with the National Treasury and the Reserve Bank spearheading the finance track, while the Department of International Relations and Cooperation will lead the Sherpa track. Key initiatives include:

Human Capital and Technology: Accelerating development in AI, technology, and education, and addressing skills gaps will be central to discussions.

Development Bank Strengthening: Enhancing multilateral banks’ capacities to support economic growth in low-income regions.

Climate-Resilient Infrastructure: Focusing on sustainable financing options to aid nations in climate adaptation and resilience.

South Africa’s Unique Leadership Opportunity

Assuming the G20 Presidency from Brazil, South Africa will be the fourth emerging economy in a row to lead the group, further positioning emerging markets at the helm of global economic dialogue. With this responsibility, South Africa aims to foster stronger partnerships and policies that reflect the priorities of Africa and other developing nations, building on the G20's tradition of addressing broad economic, social, and political issues through multilateral cooperation.

Godongwana affirmed that this presidency marks a significant opportunity for South Africa to influence the G20's agenda, adding, “Our presidency will ensure Africa’s voice is central to the discussions impacting global economic policy.”