Ramaphosa sets ambitious G20 aims

SA aims to use its presidency of the Group of 20 (G20), which it assumed on December 1, to alleviate the plight of heavily indebted countries and to secure agreements on improved quality and quantity of climate change funding, President Cyril Ramaphosa says.

The country’s multilateral aims for the G20, which include reforming multilateral institutions and fostering deeper global economic collaboration, clash with the return of US presidentelect Donald Trump’s “America First” revival.

Trump revealed a glimpse of how his presidency would affect the push by Brics nations to trade in their respective currencies instead of the dollar, when he threatened to impose 100% tariffs on a bloc of nine nations if they were to create a rival currency to the dollar.

During the launch of SA’s G20 presidency, Ramaphosa dismissed fears the Trump presidency would throw initiatives of the forum of the world’s largest economies into disarray. The US takes over from SA in 2026 and forms part of the G20 troika along with Brazil, who held the presidency in 2024, and SA.

Trump is expected to attend the G20 leaders’ summit next November in Johannesburg to take over the G20 presidency, in line with tradition.

Ramaphosa added that during a telephone conversation with Trump after his electoral victory in November, he had invited the US president-elect to a state visit to SA.

Ramaphosa said the G20 had developed sufficient “shock absorbers” and would continue to advance the interests of the world. “Obviously work will ensue in seeing how best that can be achieved. We do expect him to attend as the US is the next president of the G20. I look forward to handing over the gavel to President Trump when he takes over the reins as the G20 leader,” he said.

“Through the G20 we are not

advancing the interests of one single country, we are advancing the interests of the people of the world,” he said.

The G20 comprises the world’s wealthiest nations including China, France, Germany, India, the UK and the US. SA was the only African member until the addition of the AU in 2023.

SA is set to host about 130 virtual and in-person G20 meetings over the next 12 months. The first engagements this month will be a meeting of sherpas (officials who help prepare for a summit or conference) on December 9 and 10), a joint meeting of sherpas, finance and central bank deputies (on December 10) and a finance and central bank governors’ meeting (December 9-12) in Joburg.

“We will use this moment to bring the development priorities of the African continent and the Global South more firmly onto

the agenda of the G20. In this regard, we will build on the work of the most recent G20 presidencies of Brazil in 2024, India in 2023 and Indonesia in 2022,” Ramaphosa said.

Priorities for SA’s presidency include strengthening disaster resilience, ensuring debt sustainability and mobilising funds for a just energy transition.

“We will seek to secure agreement on increasing the quality and quantity of climate finance flows to developing countries. This would include strengthening multilateral development banks, enhancing and streamlining support for country platforms such as the Just Energy Transition Partnership and more effectively leveraging private capital. Fourth, we must work together to harness critical minerals for inclusive growth and development,” Ramaphosa said.