** Towards a new chapter of world inclusiveness: South African leadership at the head of the G20 **
On December 1, 2024, South Africa will take the reins of the G20 presidency, a forum of crucial importance which concentrates the attention of the biggest economies in the world on global issues. This crucial moment is not simply a transfer of power but will mark, according to many observers, the emergence of a new dynamic focused on solidarity, equality and sustainability.
** A complex global context **
The South African presidency arrives at a time when the world faces interconnected crises: climate change, growing economic inequalities, and exacerbated geopolitical tensions. In this context, the G20, representing 85 % of the world economy, must play a leading role in establishing an economic order which is not only effective but just. Indeed, as Zane Dangor, the G20 Sherpa for South Africa pointed out, a future centered on man, developing and inclusive is imperative.
It should be noted that this South African presidency is not unprecedented. Countries like Indonesia and India have recently highlighted themes related to sustainability and equity. However, the unique voice of South Africa, as an African country at the head of this group, combined with its position as spokespersons for the concerns of the African continent, could mark a significant turning point in taking into account the specific challenges of developing countries.
** The voice of Africa in the world agenda **
One of the most fascinating aspects of South African leadership in the G20 will be the way in which South Africa, while representing its national interests, will also be able to channel the concerns of all of Africa. With the recent membership of the African Union in the G20, the continent’s collective voice will be amplified in discussions on subjects such as equal access to resources and attenuation of climate change effects on vulnerable economies.
By analyzing the upcoming issues, it is striking to note that a large part of the climate discussions within the G20 have concentrated on the financing of green infrastructure. However, the traditional funding model often has conditions unfavorable to the countries of Asia, Africa and Latin America. The challenge remains to develop financing mechanisms which would promote a fair transition to carbon -free economies, while meeting the needs of countries where dependence on fossil fuels is still high.
** An approach focused on analysis and data **
It is crucial to explore the economic implications of the management of sustainable development objectives through the prism of the G20. According to the World Bank, hundreds of millions of people could be plunged into poverty by 2030 if resolved actions are not taken. In this context, the Africa’s Infrastructure Development Index could serve as a reference point. While some countries face the cost of prohibitive capital, the exponential interest rates represented by an average of 10% compared to rates around 2-3% in developed countries constitute a major obstacle to the development of the growth ambitions of developing nations.
** A plea for global cooperation **
Advocacy for an inclusive approach is also underlined by Li Junhua, the UN under-secretary general. The G20 could, under the South African presidency, seek to redefine economic success not only through economic figures but also through indicators of well-being and sustainability. This could be the catalyst for increased collaboration between governments and non -state actors to develop innovative solutions oriented towards the citizen.
Reflexivity on distortions of international trade, which unevenly affect nations, is also essential. Recently industrialized countries, such as South Africa, could carry out awareness campaigns for the inequity of exchanges and the need for a fairer international framework.
** Conclusion: a path to draw together **
Taking into account the positions taking shape on the horizon of the G20, South Africa seems ready not only to plead for the legitimate concerns of its nation and the African continent, but also to initiate a global dialogue which advocates equity, sustainability and inclusion. This presidency could prove to be a catalyst for structural changes necessary in global economic governance.
The eyes of the world will turn to New York and to South African leadership, accompanied by expectations deeply rooted in the desire for a future where justice and equality will prevail over the old logics. The chance to make this assembly a truly inclusive platform should not be overlooked, and it is at this point in history that the world is likely to discover new voices and new agreements capable of establishing a fragile but promising balance in global governance of decades to come.