Addis Ababa — South Africa is anticipated to derive Africa’s global market engagement and investment in its current presidency of G20, becoming the first African country to lead the group of powerful nations.
To address the global policy crisis, the country has adopted the theme “Solidarity, Equality, Sustainability” for its G20 Presidency, it was learned.
Speaking to ENA, Brand South Africa CEO Neville Matjie expressed excitement surrounding his country’s leadership role in the global platform.
The CEO said this G20 presidency is also important to serve African interests as a continent.
“The G20 is not just a South African platform, but an African platform. We are looking at really driving the narrative that Africa is ready to do business and Africa is ready to receive a lot of investments.”
Moreover, he emphasized that the country’s G20 agenda would address climate change not only in terms of its environmental impact but also as a catalyst for business opportunities.
South Africa’s G20 Presidency also underscored youth and women’s empowerment, he added.
“We are also prioritizing youth-owned businesses and women-owned businesses, ensuring that these agendas resonate strongly within South Africa’s active role in the G20. We have been working closely with the private sector to drive these initiatives forward.”
On other hand, the CEO also spoke about the role of the private sector in supporting these efforts, particularly through the launch of the Business 20 (B20).
“The private sector will launch the B20 in Johannesburg in two weeks. We will be part of this process, with the launch event taking place in Cape Town. However, the B20 summit itself will be held in Johannesburg later in the year, just before the G20 Summit.”
He elaborated that South Africa has been collaborating with the AfCFTA Secretariat to boost intra-Africa trade, currently standing at just 16 percent, a figure that requires significant improvement.
“South Africa itself does have a much greater percentage in terms of trading in Africa, but it can’t just be one country alone. We need to see that resonating with all the African countries.”
He also stressed the need for improving trade instruments and encouraging the substitution of goods imported from outside Africa.
Matjie also urged African countries to expand trading efforts within the continent.
The CEO underlined that this would be critical to realizing the benefits of the AfCFTA, ensuring that African businesses can grow within the continent.
