The world sees a much-improved SA and endorsed G20 priorities |Ramaphosa.

By Lehlohonolo Lehana.

President Cyril Ramaphosa says South Africa presented its vision for the G20 Presidency – outlining a path towards a more equitable and sustainable future.

South Africa assumed the G20 Presidency on December 1, 2024, and will hold it until November 30, 2025.

Ramaphosa in his weekly letter to the nation, he spoke about his recent trip to the World Economic Forum (WEF) in Davos, South Africa’s G20 Presidency and the support of South Africa’s decision to form a Government of National Unity (GNU) following the 2024 elections.

South Africa’s message was received well in Davos. He said the support for the GNU was also appreciated and was seen as a way to improve stability and incorporate growth.

“We also noticed a much-improved sentiment towards South Africa and the prospects for our economy in the years ahead. They commented on the successful transition from the 6th to the 7th administrations and the formation of the GNU,” he said.

The South Africa’s delegation in Davos presented its priorities for its G20 Presidency.

“In a plenary address and in a separate discussion with business leaders, we outlined our theme for the G20 this year – Solidary, Equality, Sustainable Development – and the focus areas through which we will give meaning to this theme,” Ramaphosa said.

It was in the interests of all countries, large and small, wealthy and poor, to reduce global inequality, Ramaphosa stressed.

“…that is why one of our priorities is ensuring debt sustainability for low-income countries. By freeing up funds for debt relief in these countries, they will be in a better position to invest in infrastructure, industrial development, education, health care and other forms of development.

“We stressed that our themes and priorities are underpinned by the principle of cooperation. Throughout history, human progress has been possible only through collaboration among peoples and countries,” he said.

He highlighted that South Africa renewed its call for the resolution of global challenges through multilateral actions, calling for inclusive solutions that recognised that the world was more interconnected than ever.

Ramaphosa noted that cooperation was vital if government was to overcome the existential threat of climate change and pointed out that carbon emissions into the atmosphere, global warming and the extreme weather events that it caused did not recognise national boundaries or political systems.

“As we saw during the Covid pandemic, the same is true of pandemics and other health emergencies. Conflict in one part of the world impacts on countries in other parts of the world. Trade wars, especially between large economies, weaken the global economy and hold back inclusive growth and development for all.

“In the world of today, no country can go it alone. No country can sustain its growth, stability and development without working together with other countries to overcome common problems,” he said.

He highlighted that South Africa’s message resonated with the participants in Davos, “it was a sentiment shared by many of the business leaders with whom we interacted, as well as with other heads of state and multilateral institutions.”

He said many people endorsed South Africa’s G20 priorities.

“They saw the value of our focus on Africa and the interests of countries with developing economies. They appreciated the importance of reducing inequality within and between countries and the need for new growth paths that are climate-friendly sustainable,” stated Ramaphosa.

He said another focus area, which reduces poverty and promotes sustainability, is the mobilisation of finance for a just energy transition.

“Through this, developing economy countries will be able to pursue a low-carbon development path while protecting the interests of affected workers, businesses and communities,” he explained.

Related to this was the mobilisation of special financing and insurance, which he said would enable vulnerable countries to rebuild after being struck by natural disasters.

He also pointed to the need for harnessing critical minerals, which were abundant in Africa and other countries of the Global South, to promote inclusive growth and development.

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