A win for South Africa is a win for the continent — and when Africa wins, the world takes note
As the only African country that is a member of the g20, South Africas presidency as the host of the 2025 g20 summit holds extreme responsibility. Apart from leveraging the platform to attract FDI and showcase SA to the world, will those representing the country put the needs of the country first, and more than that, its people?
First, how did we get to where we are?
As with any historical event that had the potential to and which indeed did cripple economies, measures had to be taken to avoid future occurrences of such disasters. The inception of the g20 was a result of exactly this – a response to the Asian financial crisis of 1997 – 1998, followed by the global economic and financial crisis of 2007. What initially started as a forum that largely focused on macroeconomic issues, rapidly turned into a roundtable of finance ministers, central bank governors and heads of state to shape and resolve interwoven, global economic issues. All the more, the 2025 g20 summit is an opportunity for SA to be an advocate for developing countries, especially those on the African continent.
The impact of G20 to date
Astonishingly, the g20 members make up approximately 2/3 of the worlds population. In addition they represent up to 85% of global gdp and over 75% of global trade. Surely a gathering of this magnitude has the muscle to make significant impact in rolling out the agreed-upon commitments, and for each member to hold the other accountable.
The g20 takes its form by aligning with the Pact of the future and the 2023 Agenda for Sustainable Development. By doing so, all efforts can be directed to achieve sustainable development and an inclusive future. The OECD, in collaboration with the UNDP, published a report in 2019, titled “G20 contribution to the 2030 Agenda”, detailing the progress made towards implementing the Sustainable Development Goals since the inception of Agenda 2030 in 2016. According to the report, “around two-thirds of the key commitment measures in the Comprehensive Growth Strategies put forward at the Brisbane Summit, as well as in the Adjusted Growth Strategies at the Antalya Summit, have been fully implemented”, while “the implementation of these commitments raised g20 gdp by around 1.3% by 2018”.
To take stock of more recent events, another OECD UNDP report was published in 2023, titled “The G20 Contribution to the 2023 Agenda in Times of Crises 2019-2023” and gives perspective on the actions the g20 has taken in response to global crises. In fact, Covid19 may have been well been the biggest shaker of global economies in the past decade and any progress that may have been made in reaching developmental goals could have wound down to nothing. From job losses and inflationary pressures, to supply chain disruptions and declines in industries dependent on physical presence, the spillover effects are still felt today, moreso in developing countries. While certain governments responded promptly by adequately equipping countries, including SA, with the resources needed to respond to the pandemic, more needs to be done to get back on course to achieving the Agenda.
The realities of SA and the opportunities available from g20
South Africa is the apple of SADC’s eye, and quite frankly, of the entire African continent. SA is typically grouped with Nigeria, Egypt, Ethiopia and Kenya as countries that are at the top of the food chain when it comes to their rate of development and size of the growing economy. However, being labelled as a fast-growing developing country does not always directly translate to there being development for those who do the groundwork: SME’s and in particular, youth entrepreneurs. The statistics around unemployment in South Africa are a reminder of a grim reality. The national unemployment rate is currently sitting at 32.9%, while the youth unemployment rate is at a staggering 46.1% for 2025 Q1. And if SME’s are the cornerstone of the economy, the question then becomes: where do the opportunities lie for SAn youth to put their skills and time to productive use? How do they access the opportunities to build successful businesses?
SME’s and their involvement in the economic stability of the country is often discussed at roundtables as a key priority. Key discussion points are usually around how to further develop them, how industry and financial barriers can be reduced and how they can access markets as well as funding. One would argue that the way to measure a fruitful discussion of this nature is the move from ideation to bringing such policies and interventions to life, and at what speed.
In preparation for the upcoming 2025 g20 summit, several topics will be discussed, including sustainability and the green transition, industrialisation and digital integration. Despite the importance of all agenda items, South African delegates should consider what is at the heart of SAs growth – the country-specific solutions that will see the country successfully execute and achieve its growth targets. Lets take climate finance as an example. While concerted effort is being made around the globe to address climate change, coupled with the move from traditional use of fossil fuels to alternative energy solutions, the same finance can be redirected towards job creation and SME development. Why? The just energy transition is not an overnight task, especially with SA being one of the largest producers and exporters of coal. A more realistic solution would be to, in the short term, work on the things that’ll have a more immediate impact. The same principle would apply to other developing countries. Yes, the interconnected of the world pushes us to depend on one another. As Africa, we want to continue seeing the benefits of Agoa, Afcfta, and roll out AUs Agenda 2063. The likes of BrandSA continue to showcase SA to the world because the country has plenty to offer. An essential part of SAs role at the g20 summit is to influence the global economic priorities of developing countries. Let us lobby to shape the solutions that solve the challenges faced by SMEs and the billion rand untapped markets. The platform has been given and so it is SAs responsibility to be the voice of its peers. Because a win for South Africa is a win for the continent. And a win for the continent allows for others to follow in our footsteps.
