Cape Town – President Cyril Ramaphosa has outlined South Africa’s priorities for its upcoming G20 presidency, emphasising the needs of Africa and the Global South.
In his weekly newsletter, Ramaphosa stressed the importance of inclusive development, multilateralism, and financial reforms to address global challenges like poverty, climate change, and economic inequality.
Speaking after his return from the United Nations General Assembly (UNGA) in New York, the president highlighted the need for reform in global financial institutions such as the International Monetary Fund (IMF).
He noted that low-income countries, particularly in Africa, have struggled to access financial assistance, a challenge exacerbated during the Covid-19 pandemic.
“As South Africa, we endorsed the call made in the Pact for the Future for global financial institutions that are better, bigger and bolder, and are able to address the scale of the challenges facing the world,” Ramaphosa said, reflecting on the “Pact for the Future” adopted at the UN Summit of the Future.
When South Africa assumes the Presidency of the #G20 later this year, we will prioritise the needs and aspirations of our continent and the Global South. As a signatory to the Pact for the Future, we want people-driven, sustainable development to become a reality.… pic.twitter.com/9XNU7S5QLX
— Cyril Ramaphosa 🇿🇦 (@CyrilRamaphosa) September 30, 2024
The pact reaffirms the commitment to eradicating poverty and achieving the United Nations Sustainable Development Goals (SDGs) by 2030, but Ramaphosa acknowledged that many developing countries are falling behind due to financial constraints.
The president also called for a more representative United Nations Security Council, arguing that global peace and security should not rest in the hands of a few major powers. He emphasised South Africa’s belief in mediation and political settlements in resolving conflicts.
With South Africa set to assume the G20 presidency later this year, Ramaphosa said that his administration would focus on the continent’s development needs. He stressed that well-resourced nations must support developing economies in achieving the SDGs.
“We want people-driven, sustainable development to become a reality,” Ramaphosa said, reiterating South Africa’s commitment to creating a more just global financial system.
His focus on reforming multilateral institutions and promoting development aligns with his broader agenda of addressing economic disparities and environmental challenges globally. He urged global leaders to mobilise the political will and financial resources required to meet the pressing challenges of the day.
As South Africa takes the helm of the G20, Ramaphosa’s leadership is expected to spotlight Africa’s development and the need for equitable financial and environmental policies.
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Compiled by Betha Madhomu
