SA’s G20 Presidency Launches Africa Expert Panel to Advance Development Agenda

Godongwana emphasized South Africa’s intent to prioritize Africa’s socio-economic development needs during its Presidency.

Finance Minister Enoch Godongwana announced the establishment of a G20 Africa Expert Panel during the G20 Finance and Central Banks Deputies’ Meeting held in Johannesburg. The panel aims to support the G20 Finance Track by integrating African perspectives into global economic discussions, marking a key initiative under South Africa’s G20 Presidency.

Godongwana emphasized South Africa’s intent to prioritize Africa’s socio-economic development needs during its Presidency. The panel, comprising leading African experts from public institutions, think tanks, academia, and international financial organizations, will focus on strengthening African initiatives such as the Compact with Africa.

“We intend to use our Presidency to advance an African agenda. This panel will ensure that the G20 strengthens its response to the social and economic needs of the continent,” Godongwana explained.

Reforming the International Financial Architecture

Building on the outcomes of the G20 Rio de Janeiro Leaders’ Declaration in November 2024, the Minister reiterated South Africa’s commitment to accelerating the reform of the global financial architecture.

“The G20 Roadmap towards Better, Bigger and More Efficient Multilateral Development Banks [MDBs] was a milestone under Brazil’s Presidency. Now, we must focus on implementation and monitoring,” Godongwana said.

Key discussions on financial reforms will occur alongside significant global events, including the 5th Finance in Common Summit in Cape Town from February 26–28, 2025, and the 4th International Conference on Financing for Development in Spain in June 2025.

Debt Sustainability: A Comprehensive Approach

Highlighting Africa’s debt challenges, Godongwana called for a holistic approach to enhance debt sustainability. He noted that while some countries have sustainable debt, they face liquidity crises that could evolve into solvency issues if left unaddressed.

“There is no one-size-fits-all approach. Debt sustainability requires more than the Common Framework. Countries need the right investments and reforms to support sustainable, inclusive growth,” he stated.

South Africa’s G20 Presidency will continue focusing on improving the Common Framework implementation and creating tailored solutions for debt challenges across nations.

Closing the Development Financing Gap

Godongwana also emphasized the urgency of addressing the development financing gap. Events such as the Cape Town summit and the conference in Spain will serve as platforms for countries to commit to investments that advance the Sustainable Development Goals (SDGs).

“The G20 must work to close the financing gap and support vital investments in sustainable development, climate change adaptation, and poverty eradication,” he said.

A Call for Unity and Ambition

Acknowledging the formidable challenges ahead, Godongwana expressed confidence in the G20’s collective capacity to tackle them.

“In 2025, let us execute our work program with urgency, ambition, and confidence. Let us work together for strong, sustainable, balanced, and inclusive growth,” he concluded.

South Africa’s G20 Presidency offers a historic opportunity to center Africa’s priorities on the global stage, ensuring a more equitable and inclusive global economic system for the future.