By Mpho Moloi
Deputy President Paul Mashatile has set out South Africa’s bold vision for its upcoming G20 Presidency, aiming to lead global efforts toward a more equitable, resilient, and sustainable world. Addressing a gathering at the School of Oriental and African Studies (SOAS) in London on October 3, 2024, Mashatile emphasized South Africa’s commitment to using its G20 leadership to amplify the voices and concerns of the Global South and developing nations. His remarks come as preparations intensify for South Africa to assume the G20 Presidency in December 2024, following Brazil.
A Focus on Sustainable Development and Global Inequality
Mashatile’s keynote address highlighted the persistent challenges facing the world, including growing inequality, hunger, poverty, and the global economic crisis. He expressed concern about the slow progress toward achieving the United Nations Sustainable Development Goals (SDGs) and stressed that global solidarity is crucial to overcoming these hurdles.
“It is South Africa’s hope that, once completed, our G20 Presidency will showcase the amplified voice, perspectives, and leadership of the developing world in tackling some of the most pressing global challenges,” Mashatile remarked. He further emphasized that South Africa’s Presidency would prioritize addressing inequality and enhancing economic development, particularly in Africa and other developing regions.
Leveraging Critical Minerals for a Just Energy Transition
One of the key themes in Mashatile’s speech was the importance of critical minerals in driving global economic growth and supporting the green economy. He noted that these minerals are essential for achieving a Just Energy Transition and the broader goals of the green economy. Under South Africa’s G20 Presidency, the country will focus on tackling beneficiation challenges, developing a critical mineral strategy, and leveraging natural capital to spur sustainable development.
Mashatile’s vision includes mobilizing domestic resources to ensure that developing countries, especially in Africa, benefit from their natural wealth and play a leading role in shaping the future of green energy and sustainable development.
Climate Change and Global Peace
Echoing concerns about the urgency of climate action, Mashatile warned that climate change poses a significant threat to humanity and the planet. South Africa, he said, is committed to scaling up its efforts to reduce its carbon footprint, using the insights from the State of Climate Action in South Africa Report. The government will adopt sustainable practices to mitigate the environmental crisis, while also advocating for global collaboration on this front during its G20 leadership.
Mashatile also addressed international peace, urging the global community to unite in addressing conflicts, particularly the ongoing situation in the Middle East. He reiterated South Africa’s call for peace, especially in relation to the Israeli-Palestinian conflict, and advocated for a ceasefire to allow the people of Palestine to rebuild their state alongside Israel.
Advancing Global Financial Reforms
In addition to these developmental goals, Mashatile highlighted South Africa’s commitment to global financial reform during its G20 Presidency. His administration plans to focus on transforming the global financial architecture, including the reform of institutions such as the International Monetary Fund (IMF), the World Bank, and Multilateral Development Banks. Mashatile underscored the importance of these reforms in ensuring that developing countries have access to the financial resources necessary for sustainable growth.
Strengthening Trade and Investment Relations
While in the United Kingdom, Mashatile also focused on enhancing South Africa’s trade and investment ties with the UK, a vital economic partner. His visit forms part of the country’s broader strategy to attract foreign direct investment and strengthen public-private partnerships. These efforts are aligned with the Government of National Unity’s (GNU) goals of promoting inclusive economic growth, addressing poverty, and reducing the cost of living.
South Africa’s G20 Presidency, Mashatile hopes, will serve as a platform to place Africa’s development at the top of the global agenda, especially through collaboration with the African Union’s Agenda 2063. With the global population set to increase, particularly in Africa, Mashatile emphasized the importance of addressing urbanization and infrastructure development to ensure sustainable growth.
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