President Cyril Ramaphosa officially launched South Africa’s G20 presidency on Tuesday, with a focus on addressing climate action and debt relief for developing nations. The presidency, under the theme Solidarity, Equality, and Sustainability, will prioritize securing increased climate finance for a just energy transition and ensuring sustainable debt solutions for low-income countries. Ramaphosa emphasized that the presidency would spotlight Africa’s development needs, culminating in the G20 leaders’ summit in Johannesburg in November next year.
Ramaphosa began the announcement by reflecting on the significance of South Africa’s role in the G20 presidency. He highlighted the symbolic importance of the Protea, the national flower of South Africa, which represents the spirit of the country. “To have us as South Africa launch the work that we are going to do as president of the G20, particularly as we will be showcasing not only our country but also one of the key symbols of our country, the protea cynaroides, which is the scientific name of the protea also called the king protea,” said Ramaphosa. The king protea, known for being the largest in the species, symbolizes South Africa’s strength and resilience.
“The G20 comprises many of the world’s largest developed and developing economies,” he continued, explaining that the group was established to address global economic and financial challenges. “Together, G20 members account for around 85% of the world’s GDP and 75% of global trade. The grouping therefore plays a critical role in influencing global policy-making, fostering global economic stability, and impacting the lives of everyone across the globe.” The decisions made by the G20 often directly affect the global community, underscoring the importance of this collective body.
The president said South Africa’s G20 presidency comes at a time of significant global challenges. The climate crisis is worsening, and billions of people around the world continue to face the consequences of underdevelopment, inequality, poverty, hunger, and massive unemployment. Ramaphosa noted that the global economic outlook remains subdued, with many economies burdened by unsustainable debt levels, especially in the Global South and across Africa. “The outlook for global economic growth remains subdued, as we have often heard from global bodies such as the International Monetary Fund (IMF) and the World Bank. Many economies carry the burden of unsustainable levels of debt,” he said.
Geopolitical instability, conflicts, and wars are further exacerbating the suffering of people globally, and Ramaphosa acknowledged that these challenges occur amid rapid technological advancements that bring both opportunities and risks. He emphasized that, while the causes and consequences of these issues are unevenly distributed, working together through the G20 and building partnerships are essential to resolving them. “South Africa will seek to harness global commitment and capabilities to confront the challenges that the world faces,” Ramaphosa stated.
As part of South Africa’s leadership, Ramaphosa called for strong civil society participation in the G20 presidency. He urged broad involvement to ensure that global decision-making is inclusive and reflects diverse perspectives. “The voices of business, labour, youth, and vulnerable communities are crucial in shaping global solutions,” he said, underscoring the importance of inclusivity.
Ramaphosa also announced plans to establish a G20 social forum, aimed at fostering dialogue between stakeholders from all sectors of society. Additionally, he revealed the launch of the Township20 initiative, which aims to showcase the potential of South Africa’s township economies. This initiative will highlight the role of local economies in driving development and fostering economic growth, particularly in underdeveloped areas.
Through these initiatives, South Africa’s G20 presidency seeks to not only address global challenges but also ensure that solutions are equitable, sustainable, and inclusive for all nations, especially those in the Global South.
VOC News
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