As the world grapples with challenges like inflation, climate change, and inequality, South Africa is poised to take the helm of the G20 in 2024, marking a significant moment not just for the nation but for the entire African continent. When President Cyril Ramaphosa assumes the presidency on December 2, he will face the formidable task of steering global focus toward the pressing issues affecting developing nations, particularly those in Africa.
This historic occasion will make South Africa the first African country to host the G20 Leaders’ Summit, placing the continent’s concerns at the forefront of international discourse. Central among these is the persistent issue of inequality. Despite being one of the wealthiest nations in Africa, South Africa struggles with one of the highest wealth gap ratios globally. Millions remain on the margins, lacking access to basic services such as adequate healthcare, quality education, and employment opportunities.
In recent years, the G20 has faced criticism for not adequately addressing the needs of developing countries. South Africa’s presidency presents an opportunity to shift this narrative. The country aims to implement initiatives that tackle poverty and reduce inequality, aligning with the broader goals of the African continent.
China’s recent calls to end global hunger and alleviate poverty resonate strongly with these objectives. At the previous G20 Summit, China emphasized the importance of viewing the world as a community with shared responsibilities. The establishment of the Global Alliance Against Hunger and Poverty underscores a commitment to fostering unity and collaborative efforts among nations.
Furthermore, China has advocated for investing in trade, investment, and development efforts, encouraging the removal of barriers that hinder cooperation. Support for developing nations in adopting sustainable practices, while addressing climate change and environmental degradation, has been highlighted as crucial for global progress.
Notably, Brazilian economist and University of S\u00e3o Paulo associate professor Laura Carvalho expressed optimism about South Africa’s upcoming G20 presidency. She believes that leadership from the Global South will be central, offering a platform to prioritize pressing issues for developing countries.
“South Africa has an opportunity to push a progressive agenda that goes beyond the usual finance conversation,” Carvalho stated. She highlighted the country’s interest in pursuing topics related to a just energy transition and better governance of resources, especially concerning critical minerals. The focus on inclusive growth could unify fragmented conversations around crises the world faces, including climate change, growing inequality, and poverty.
Drawing from Brazil’s experience, Carvalho noted that despite geopolitical tensions, Brazil successfully placed inequalities at the core of the G20 agenda. Achievements included commitments to tax ultra-high-net-worth individuals effectively, increase concessional lending to developing countries, and garner support for the Global Alliance Against Hunger and Poverty.
“While not enforceable, the G20 statements open up room for taking these agendas forward in other multilateral fora and put pressure on policymakers at the national level,” she added.
As South Africa prepares to launch its G20 presidency, there is hope that it will continue this momentum. The nation has the chance to set ambitious goals, convene key players, and drive outcomes that could lead to sustainable solutions for the poverty challenge.
When President Ramaphosa unveils South Africa’s agenda, emphasis must be placed on long-term, sustainable solutions to poverty. Addressing systemic challenges such as better financing, debt management, fair trade systems, and technological cooperation will be crucial. By focusing on eradicating poverty and ensuring that no one is left behind, South Africa can contribute to forging a shared future of peace, security, prosperity, and stability for all.
Reference(s):
S. Africa's G20 presidency: A chance to address poverty, inequality
cgtn.com
