South Africa becomes first African nation to assume G-20 presidency

Brazil’s President Luiz Inácio Lula da Silva closed the Group of 20 summit on Tuesday and handed over the presidency to South Africa.

“After the South African presidency, all the G20 countries will have exercised leadership of the group at least once. It will be a good time to evaluate the role we have played so far and how we should act from now on,” said Lula da Silva.

Leaders of the world’s 20 major economies gathered once again on Tuesday with a lighter schedule after they issued a joint declaration the night before.

The document, which includes calls for a global pact to combat hunger, more aid for Gaza and the end of the war in Ukraine, was heavy on generalities and short on specifics.

The joint statement was endorsed by group members but fell short of complete unanimity. It also called for a future global tax on billionaires and for reforms allowing the eventual expansion of the U.N. Security Council beyond its five permanent members.

At the start of the three-day meeting which formally ends Wednesday, experts doubted Lula da Silva could convince the assembled leaders to hammer out any agreement at all in a gathering rife with uncertainty over the incoming administration of U.S. President-elect Donald Trump, and heightened global tensions over wars in the Middle East and Ukraine.

Argentina challenged some of the language in initial drafts and was the one country that didn’t endorse the complete document.

The development means South Africa is the first African country to lead the group of powerful nations.

“It is an honour to accept, on behalf of the people of South Africa, the responsibility of the presidency of the G20 for the next year,’’ President Cyril Ramaphosa said in a speech as he took over the presidency from Brazil at the summit in Rio de Janeiro. The year-long term officially begins on 1 December.

He said South Africa will focus on advancing inclusive economic growth and sustainable development, arguing that it has adopted “solidarity, equality and sustainability” as theme of the tenure.

He said South Africa will seek to strengthen and advance the common pursuit of the Sustainable Development Goals and the Pact for the Future.

“Whether it is in Gaza, Sudan or Ukraine, we must all stand in solidarity with those people who are facing hardship and suffering,’’ Ramaphosa said, adding that the G20 must also support countries that are most vulnerable to pandemics and other global public health emergencies.

He said he will work to tackle inequality, which is a major threat to global economic growth and stability, and pledged to bring the development priorities of the African continent and the Global South more firmly onto the agenda of the group.

The African Union was accepted as a permanent member of the G20 at the bloc’s summit in New Delhi last year.​​​​​​​

Understanding G-20

The G20 (Group of Twenty) is an international forum uniting the world’s leading economies to address global economic issues.

The G20 comprises 19 countries and one EU representative, covering 85% of global GDP, 75% of international trade, and two-thirds of the world’s population.

Member countries include major economies like the United States, China, Japan, Germany, and India, as well as emerging markets like Brazil, Indonesia, and South Africa.

The primary goals of the G20 are to promote global economic stability, foster sustainable development, and tackle pressing global challenges such as climate change, inequality, and international terrorism.

Through annual summits, G20 leaders discuss policy issues, set global agendas, and facilitate international cooperation.

While the G20 lacks formal decision-making authority, it significantly influences global economic policies and international cooperation, providing a critical platform for nations to collaborate and address shared challenges.

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