South Africa prepares to lead G20 summit

South Africa is poised to take centre stage at the G20 Summit in Rio de Janeiro, Brazil, set for 18-19 November 2024, as it prepares to assume the G20 presidency in December. The summit will bring together leaders from 19 countries, along with representatives from the African Union and the European Union, providing a vital platform for discussing global economic cooperation, sustainable development, and emerging issues affecting both developed and developing nations.

The G20 represents nearly 60% of the global population, 80% of the world’s GDP, and 75% of global exports, underscoring its importance for fostering international collaboration. During a media briefing on Tuesday, South Africa’s Minister of International Relations and Cooperation, Ronald Lamola, highlighted the G20’s role in promoting the economic interests of the Global South and advancing Africa’s development priorities.

Lamola described the summit as a preeminent platform for facilitating global economic cooperation and emphasised that supporting emerging and developing economies is essential for achieving sustainable development and global stability. “In terms of promoting the economic interests of the Global South, South Africa considers the G20 an important vehicle for advancing the aspirations of developing countries, and Africa’s development priorities in particular,” Lamola noted.

The 2024 summit marks the end of Brazil’s presidency, with leaders set to review and approve key agreements addressing pressing global challenges. According to Lamola, these agreements aim to enhance the well-being of vulnerable regions, especially in Africa, by reducing resource pressures, curbing population displacement, and lowering the risk of conflict.

South Africa is already taking on an enhanced role in the G20 as part of the G20 Troika alongside Brazil and India, supporting Brazil’s key priority of reforming global governance institutions. G20 leaders are expected to promote a reinvigorated multilateral system rooted in the United Nations Charter and international law, advocating for modernised institutions that are more representative, transparent, and effective, aligned with 21st-century realities.

As South Africa’s presidency of the G20 begins on 1 December 2024, the country is set to announce its presidential agenda, with a focus on advancing the aspirations of developing nations and fostering sustainable growth across Africa. Lamola called the upcoming presidency a significant moment, reflecting the aspirations of South Africa’s young democracy and its commitment to a more inclusive global economic system.

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