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October 1, 2024President Cyril Ramaphosa has announced that South Africa’s upcoming G20 Presidency will prioritize the needs of Africa and the Global South. Writing in his weekly newsletter, Ramaphosa said the country aims to focus on people-driven, sustainable development during its presidency, which begins on 1 December 2024 and runs until November 2025.
“When South Africa assumes the Presidency of the Group of 20 (G20), we will prioritize the needs and aspirations of our continent and the Global South,” he said. “As a signatory to the Pact for the Future, we want people-driven, sustainable development to become a reality.”
The G20 is an international forum comprising 19 countries and the European Union, with the African Union recently included as a member. The group represents 80% of global GDP, 75% of global exports, and 60% of the world’s population.
South Africa’s G20 Agenda
During its G20 Presidency, South Africa will host a summit of Heads of State and Government, alongside over 200 ministerial and official meetings leading up to the summit. As Ramaphosa emphasized, the focus will be on development issues crucial to the Global South, as well as support for achieving the United Nations’ Sustainable Development Goals (SDGs) by 2030.
“All the nations of the world have a right to development, and better-resourced countries have a responsibility to support countries with developing economies to achieve the SDGs,” the President said.
Pact for the Future
The President highlighted that the upcoming G20 term falls just five years short of the UN’s 2030 Agenda for Sustainable Development. The “Pact for the Future” aims to mobilize global support for addressing pressing issues such as poverty eradication, job creation, and quality healthcare.
“Alongside the other nations of the world, we need to speed up the pace of progress to realize the aspirations of the Pact for the Future and achieve the Sustainable Development Goals by 2030,” Ramaphosa stated.
Global Challenges and Funding Gaps
In his recent address to the United Nations General Assembly, Ramaphosa stressed the need for inclusive and responsive multilateral institutions to tackle global challenges, such as economic development, national security, and the high cost of living. He also noted that developing countries are falling behind on their SDG targets due to funding shortages, exacerbated by the diversion of resources to combat COVID-19.
The United Nations estimates that $4 trillion is needed to meet the SDG goals by 2030. Ramaphosa emphasized that achieving this will require not only financial resources but also political will from world leaders.
Reforming Multilateral Institutions
Ramaphosa reiterated South Africa’s position that sustainable development can only be achieved through reformed, agile multilateral bodies like the United Nations and financial institutions, including the International Monetary Fund.
As South Africa prepares to lead the G20, its focus on Africa and the Global South aims to foster more inclusive economic cooperation, support sustainable development.