South Africa’s G20 presidency: A vital opportunity for global unity and sustainable progress

As South Africa chairs the first G20 meeting on African soil, we stand at a pivotal crossroads. The current global landscape, marked by multifaceted challenges—from crippling poverty and economic instability to the existential threat of climate change—demands a united front.¹ South Africa’s presidency provides a unique opportunity for African voices to be heard and their ideas implemented. To achieve this, it is imperative that the continent aligns its priorities and provides innovative solutions to global challenges.

In his first address to the G20 as president, in November of last year, President Cyril Ramaphosa spoke on the need for collaboration between the public and private sectors across the globe, as these global challenges cannot be faced alone. Public-private partnerships are necessary in our interconnected world. They provide opportunities to improve upon research, innovation, and implementation across a vast array of sectors.² Global interconnectedness, when leveraged properly, can lift all nations. South Africa has long emphasized the need for multilateralism.³ Strong multilateral institutions are better equipped to address global challenges than any one nation.⁴

In the spirit of exercising international cooperation to solve global issues, three new G20 task forces have been proposed by South Africa—focused on inclusive economic growth, food security, as well as artificial intelligence, data governance, and innovation for sustainable development.⁵ These three issues are integral to diminishing inequalities and protecting the world’s citizens while creating resiliency across economies. These three task forces will be entrusted with finding actionable initiatives that can foster sustainable development.

Brazil’s successful G20 presidency has served as an inspiration for South Africa’s leadership.⁶ As we reflect on the G20’s achievements over the past 20 years, this is our opportunity to repurpose past lessons into concrete strategies for the future. One such lesson is the need for improved resolutions to the burden of debt on economic growth.⁷ As a representative of the African continent, South Africa is acutely aware of the economic depression that has resulted from the enormous debt held by countries across the Global South.⁸ To address this concern, South Africa has proposed a Cost of Capital Commission to “deliver a comprehensive expert review on the issues impacting the cost of capital for developing economies which could help address future debt sustainability issues and related fiscal space challenges.”⁹

A substantial proportion of debt held by African countries, and those across the Global South more generally, is held by private institutions and multilateral organizations.¹⁰ For this reason, any proposed solution to the debt burden will require institutional reform to be successful.¹¹ The economic shocks of the last five years continue to reverberate in African economies. COVID-19,¹² increased insecurity,¹³ and inflation have left many African countries struggling to support their citizens.¹⁴ Institutional reform that incorporates the needs and concerns of those most affected by debt and including civil society groups, is necessary to address global inequalities effectively with the potential for long-term positive impact. In our G20 presidency, South Africa will seek to elevate marginalized voices through the G20 Social Forum and encourage these voices to be incorporated into any future policy decisions.

Finally, we see South Africa’s presidency as an opportunity to amplify the African Union’s Agenda 2063.¹⁵ As with Agenda 2063, the G20 must bring together diverse stakeholders—public officials, civil society groups, academics, private for-profit businesses, and citizens—to create institutional priorities and policies that benefit us all. By prioritizing economic empowerment and sustainability, we hope South Africa can set a precedent for future G20 meetings, ultimately reinforcing a narrative of hope, resilience, and collective action.