1 - 2 of 2
Number of results to display per page
Search Results
2. South Africa’s G20 Presidency: Tapping into Africa’s Potential through Financial, Climate and Food System Reform
- Author:
- Darlington Tshuma and Bongiwe Ngcobo-Mphahlele
- Publication Date:
- 09-2024
- Content Type:
- Commentary and Analysis
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Both the G20 and BRICS+[1] are critical global groupings for economic and geostrategic reasons. Thirty years ago, G7 countries constituted nearly 70 per cent of the global economy. In contrast, by 2024, the BRICS+ bloc accounted for approximately 35 per cent of the world’s GDP, compared to the 30 per cent held by G7 countries.[2] Meanwhile, G20 countries represent 85 per cent of the global economy, 75 per cent of global trade, and 62 per cent of the world’s population.[3] This shift underscores the growing influence and significance of emerging economies. South Africa’s membership in the G20 and BRICS+ attests to the country’s role as an economic and political powerhouse – both on the African continent and increasingly in the global South. In 2025, South Africa will assume the presidency of the G20 – the first African country to do so, taking over from Brazil. At a moment of heightened geopolitical tensions and a fragmented international system characterised by multiple and simultaneous crises, including the climate and energy crisis, and the Russian-Ukraine and Israel-Palestine wars, can South Africa’s G20 presidency be an opportunity to reshape global governance? Founded in 1999 in response to the global financial crisis, the G20 is the main forum for international cooperation and plays an important role in defining and strengthening global architecture and governance. South Africa’s presidency should consolidate priority issues established by the Brazilian government but anchor on three critical issues: reform of the global financial architecture, climate change and a just energy transition and sustainable food systems. A policy focus on these issues will lay a foundation for the continent’s leapfrogging.
- Topic:
- Climate Change, Reform, G20, and Food Security
- Political Geography:
- Africa and South Africa