By Lerato Matlala

The G20 is an important group of 20 of the world’s largest economies that meets regularly to coordinate global policy.

The G20 was launched in 1999 and included 19 countries, with the African Union added as a full member in 2023.

Initially, it was a gathering of finance ministers and central bank governors, aimed at discussing international economic and financial issues. This group accounts for almost two-thirds of the global population, 75% of global trade and 85 % of the world’s Gross Domestic Product.

The first summit of the G20 was held in Washington in 2008.

South Africa has been a member of this group since its inception in 1999 when Asia was facing a financial crisis. The meeting in SA next year comes at a time when there has been criticism that global political tensions often derail G20 meetings.

This is something SA will have to avoid when hosting the meeting.

“SA will host the annual G20 Summit in 2025. Some people say that this G20 Summit where many heads of state will descend on our country could be at the same level to the 2010 FIFA football contest that took place here or even bigger, therefore, we need to embark on a national project of ensuring that the G20 does become successful,” says Ramaphosa.

President further says Pretoria will use the summit to showcase the country and push for South Africa’s interests.

“ The lekgotla has recognised the significance of SA’s presidency of the G20 and the opportunities that this presidency of the G20 provides to us, the needs and the interest of the African continent and the global south.”

This will be the second important meeting chaired by Ramaphosa after the successful hosting of the Brazil, Russia, India, China and SA summit last year.

--SABC--