By Lehlohonolo Lehana.
Deputy President Paul Mashatile says South Africa’s Presidency of the Group of 20 (G20) has been a significant milestone for African representation in global economic decision-making.
Mashatile delivered a keynote address at the T20 Africa High-Level Policy Dialogue scheduled to take place in Pretoria on Tuesday.
The Think 20 (T20), which comprises of policy institutes and think tanks, is a vital platform for intellectual and strategic inputs that enables African perspectives to be more systematically articulated in global policy processes.
Mashatile believes that the dialogue represents a crucial step in positioning Africa as an active participant in global economic discussions, rather than a passive recipient of international policies.
He said Africa currently stands at a crucial juncture in its development journey, with a growing population and vast natural resources, yet it remains underdeveloped.
The Deputy President is of the view that the presence of a youthful population offers a range of possibilities for the development of the continent.
He also touched on the challenges facing multilateralism, which have been apparent for an extended period.
“Therefore, we should take a dim view and strongly discourage the erosion of multilateralism, as it poses a potential threat to global growth and stability. A fair, transparent, equitable, and inclusive international order is essential for economic stability and sustained growth.”
He warned that the ongoing trade tensions may result in a rising cost of living due to increased prices, particularly for manufactured goods, potentially exacerbating the sluggish economic growth across our continent.
“It is necessary that we respond collectively and decisively as Africans, while increasing capacity and capability to reduce dependency.”
According to the Deputy President, a fair, inclusive global order is possible, but it requires leadership grounded in equity, responsibility, and cooperation.
“The G20 should form part of this as we seek to unite as country states and develop policies that are progressive for the interest of all. We intend to work with like-minded countries and progressive institutions to establish a more equitable, representative, and just international order.”
While the G20 is not a substitute for existing international institutions, he said it must complement and accelerate progress on already agreed global commitments.