Cape Town - President Cyril Ramaphosa has officially launched South Africa’s Group of Twenty (G20) Presidency at a media briefing in Cape Town.
Accompanied by Minister of Finance, Enoch Godongwana, and Minister of International Relations and Cooperation, Ronald Lamola, Ramaphosa told journalists that South Africa’s G20 Presidency takes place at a moment in which the world is facing severe challenges.
“The climate change crisis is worsening. Across the world, billions of people are affected by underdevelopment, inequality, poverty, hunger and unemployment. The outlook for global economic growth remains subdued, and many economies carry the burden of unsustainable levels of debt,” said Ramaphosa.
South Africa assumed the Presidency of the G20 group of countries on December 1 - the first time an African country has presided over the G20.
South Africa’s Presidency will culminate in the G20 Presidency Leaders’ Summit, which will take place in Johannesburg in November 2025.
The G20 comprises many of the world's largest developing and developed economies, including the People’s Republic of China, the Russian Federation, the UK and US.
Together, G20 members account for around 85% of global gross domestic product and 75% of international trade.
Working together with G20 members, and building partnerships across society, Ramaphosa said South Africa will seek to harness global will and capabilities to confront challenges.
“We all seek to achieve more rapid, inclusive and economic growth. We all seek a more just and equal world, and a world in which poverty and hunger are eradicated. We all seek to avert the worst effects of climate change and to preserve our planet for future generations,” he said.
South Africa has adopted the theme “Solidarity, Equality and Sustainability” for its G20 Presidency.
In line with South Africa’s theme, Ramaphosa said the country will seek to strengthen and advance the international effort to achieve the Sustainable Development Goals by 2030.
Among the priority actions, Ramaphosa highlighted that the G20 countries must take action to ensure debt sustainability for low-income countries.
“A key obstacle to inclusive growth in developing economies, including many in Africa, is an unsustainable level of debt which limits their ability to invest in infrastructure, healthcare, education and other development needs,” he said.
“Building on G20 initiatives undertaken in recent years, we will seek to advance sustainable solutions to tackle high structural deficits and liquidity challenges and extend debt relief to developing economies.
“We will also seek to ensure that the sovereign credit ratings are fair and transparent and to address high risk premiums for developing economies,” said Ramaphosa.
South Africa’s G20 Presidency will pursue progress on cross-cutting issues through the establishment of three dedicated task forces.
The first task force is on Inclusive Economic Growth, Industrialisation, Employment and Reduced Inequality.
The second task force is on Food Security.
The third task force is on Artificial Intelligence, Data Governance and Innovation for Sustainable Development.
“It is critical for South Africa that the G20 remains focused on its core responsibilities, to address global economic and financial challenges. It should not replace existing international institutions and platforms, such as the United Nations and associated bodies,” he said.
To ensure that the G20 remains focused, Ramaphosa said South Africa will not create any new working groups or permanent structures.
Over the course of the year, there will be more than 130 meetings held across all provinces.
Ramaphosa 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 South Africa’s G20 Presidency.