What is the G20 and Why Should South Africans Care?
This week, President Cyril Ramaphosa will assume the presidency of the Group of Twenty (G20), a forum made up of 19 countries, the European Union, and the African Union. The G20 addresses major global issues like financial stability, climate change, and sustainable development, with an annual meeting of world leaders discussing these pressing matters. South Africa’s involvement in this influential forum is crucial for both the country and the continent.
The G20’s membership includes Argentina, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK, and the US, plus the EU and the African Union. Guest invitees include Spain, the UN, the World Bank, and ASEAN, representing the world’s largest economies.
Since its creation in 1999, the G20 has focused on fostering global economic growth, regulating financial markets, and promoting international trade. During the 2008 financial crisis, it played a vital role in stabilizing the global economy by contributing trillions to international financial institutions. Today, its agenda continues to address global economic challenges, particularly those affecting developing economies.
South Africa’s presidency in 2025 marks a historic first for an African nation. It offers a unique opportunity for the country to shape global discussions on equity and development, while promoting Africa’s economic potential. South African CEOs are encouraged to position their businesses for growth, capitalizing on new international opportunities that arise from the country’s leadership role. This presidency will be a key moment for South Africa to influence global economic policies and secure a stronger presence for Africa on the world stage.
