President Cyril Ramaphosa said South Africa’s G20 Presidency is an opportunity to present to the world the great opportunities and experiences that the country Africa has to offer.
Pretoria assumed the Presidency of the G20 group of countries on the 1st of December 2024, from Brazil.
The bloc comprises many of the world’s largest developing and developed economies.
“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.
Over the course of the year, there will be more than 130 meetings held across all provinces,” said Ramaphosa.
The president highlighted that funds have been allocated for the country to host the summit, adding that the country has received various offers of support both in terms of helping it sharpen the content, but also helping us host some of the meetings.
“Other meetings will be held at the United Nations in New York and Geneva, and they’ll shoulder the financial burden.
We’re fortunate in that much as we’re going to shoulder most of the burden financially, we’re also going to get quite a bit of support.
The private sector will also come to the fore.
We welcome this because this is a South African event, and we want as much as possible for all various sectors of our country to chip in,” explained Ramaphosa.
In addition, the president said tens of thousands of people from nearly 30 countries and representatives from over 20 regional and international organisations will arrive in South Africa over the course of our G20 Presidency.
“The coming of the G20 here, we would like to see us promoting further investment in our country.
In the end we must advance our own national interests first, and the interest of our continent.
In the end, we would want to see investments as we showcase our own country, as we showcase opportunities that those who come to our country can have, and as we showcase our system of government,” said the president.
Ramaphosa said through South Africa’s G20 Presidency, Pretoria will work to build a better Africa and a better world, and to ensure that no one is left behind.
“Together, G20 members account for around 85% of global GDP and 75% of international trade.
The grouping therefore plays a critical role in influencing global policy making 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 anti-corruption,” said Ramaphosa.
The president acknowledged that South Africa’s G20 Presidency takes place at a moment in which the world is facing severe challenges.
These include climate change, underdevelopment, inequality, poverty, hunger, unemployment, geopolitical instability and conflict amongst others.
The G20 Summit will be held in Cape Town in November next year.
