President Cyril Ramaphosa
By Lerato Mpembe
President Cyril Ramaphosa will open the first meeting of the Group of 20 (G20) Finance Ministers and Central Bank Governors under South Africa’s Presidency on Wednesday, 26 February 2025, at the Cape Town International Convention Centre (CTICC). This historic event, hosted by Finance Minister Enoch Godongwana and South African Reserve Bank (SARB) Governor Lesetja Kganyago, will spotlight South Africa’s G20 theme of “Solidarity, Equality and Sustainability” as global leaders tackle pressing economic challenges facing the world and Africa.
A Landmark Moment for South Africa’s G20 Presidency
South Africa’s turn to lead the G20, which began on 1 December 2024, is a big deal – it’s the first time an African nation has taken the reins of this powerful group. The G20 Finance Ministers and Central Bank Governors meeting in Cape Town is one of the year’s headline events, kicking off a series of discussions that will shape global economic policies. According to the Presidency, “The first G20 Finance Meeting and Central Bank Governors Meeting in South Africa will focus on the thematic areas of [the] global economy, debt, infrastructure, joint finance and health task force, international taxation, finance sector issues, and sustainable finance.”
This gathering follows two days of groundwork by the Finance and Central Bank Deputies, who met at the CTICC on 24 and 25 February. Their technical talks, led by National Treasury Director-General Dr Duncan Pieterse and SARB Deputy Governor Rashad Cassim, set the stage for the big decisions Ministers and Governors will make. Posts on X from @g20org on 23 February hailed the Deputies’ meeting as a step toward “fostering global economic stability” – a sign of the high stakes involved.
What’s Cooking at the Cape Town Meeting?
The agenda in Cape Town is packed with topics that matter to South Africa, Africa, and the world. The Presidency laid it out clearly: global economy, debt, infrastructure, health financing, taxation, financial sector reforms, and sustainable finance are all up for debate. Here’s a closer look at what’s on the table:
• Global Economy: With trade tensions and uneven growth plaguing many nations, leaders will look for ways to keep the world economy on track.
• Debt: Africa’s rising debt burden is a hot topic. Countries like South Africa, where debt is nearing 75% of GDP (Eyewitness News, 23 February 2025), need solutions to ease the strain.
• Infrastructure: How do we fund the roads, ports, and power plants Africa desperately needs? This is a big focus for South Africa’s Presidency.
• Sustainable Finance: Green projects and climate funding are key as the world races to fight climate change.Finance Minister Enoch Godongwana and SARB Governor Lesetja Kganyago will steer these talks under the banner of “Solidarity, Equality and Sustainability.” It’s a theme that’s already making waves. Speaking at the World Economic Forum (WEF) in Davos on 21 January, Ramaphosa said, “We will seek to get the G20 to focus more on how we can enhance solidarity through collective efforts to ensure that no person and no country is left behind” (Anadolu Agency, 21 January 2025).
South Africa’s Debt Dilemma in the Spotlight
Debt is a sore point for many African countries, and South Africa is no exception. The country’s public debt has ballooned to around 74% of GDP, with projections it’ll hit 75% by year-end (Investec, 19 February 2025). That’s a heavy load – 20 cents of every rand in tax goes straight to paying interest, leaving less for schools, clinics, or jobs.
At the Deputies’ meeting, National Treasury’s Pieterse revealed plans for an Africa Panel, chaired by former Finance Minister Trevor Manuel, to tackle this crisis head-on. “One of the issues we’ve asked the African Panel to look at is precisely this – what are the ways in which we can help African countries deal with the debt challenge?” he told SAnews on 24 February. The panel will dig into governance, fiscal policy, and growth strategies to lighten the load.
Recent news adds urgency to this focus. The Conversation (31 January 2025) warned that South Africa’s debt targets have been pushed back 10 times since 2015, with stabilisation now eyed for 2025/26. The Cape Town talks could be a turning point if leaders agree on practical steps.
A Packed G20 Year Ahead
South Africa’s G20 Presidency isn’t a one-off show – it’s a year-long marathon. The Presidency noted, “South Africa’s G20 Presidency commenced in December 2024, and the Finance Ministers and Central Bank Governors’ meeting is part of a series of 23 ministerial and approximately 130 working groups meetings that will take place during the course of 2025.” It all builds up to the G20 Leaders’ Summit in November 2025, where heads of state will seal the year’s deals.
The Cape Town meeting is just the second big Finance Track event of 2025. Posts on X from @g20org on 24 February highlighted the Deputies’ opening session, streamed live on YouTube, showing South Africa’s commitment to transparency. With 19 countries – from Argentina to the United States – plus the European Union and African Union in the mix, the G20 represents 85% of global GDP and 75% of world trade. That’s serious clout.
Why the G20 Matters – A Quick History Lesson
The G20 started as a Finance Ministers’ club in 1999 after the Asian financial crisis rocked the world. Its job? To stop money troubles from spiralling out of control. Then, in 2008, the global financial crisis hit, and leaders upped the ante, turning it into a Heads of State summit. Today, it’s a powerhouse for sorting out global economic messes.
For South Africa, joining the G20 in 1999 was a proud moment. Now, leading it in 2025 is a chance to shine. As Africa Intelligence (30 October 2024) put it, Ramaphosa “intends to use the event to push [South Africa’s] political and economic agendas.” That means putting Africa’s needs – like fairer trade rules and cheaper loans – front and centre.
Geopolitical Tensions Cast a Shadow
It’s not all smooth sailing in Cape Town. The U.S. is sending a chill through the room by skipping key meetings. First, Secretary of State Marco Rubio boycotted the G20 Foreign Ministers’ meeting in Johannesburg on 20 February (Reuters, 20 February 2025). Now, U.S. Treasury Secretary Scott Bessent is dodging Cape Town too, citing “obligations in Washington.” Analysts link this to U.S. gripes over South Africa’s land policies.
Despite the snub, big players like Japan’s Bank Governor Kazuo Ueda are showing up (TradingView News, 19 February 2025). Their presence keeps the meeting’s global heft intact, even as tensions bubble. Ramaphosa, speaking in Johannesburg, warned of “escalating geopolitical tensions” threatening unity (Al Jazeera, 20 February 2025). Can South Africa bridge the divide?
South Africa’s Budget Woes Add Local Flavour
The G20 talks come at a tricky time for South Africa’s own wallet. Finance Minister Godongwana was set to deliver the 2025 Budget Speech on 19 February, but coalition chaos forced a delay to 12 March – the first postponement in 30 years (AllAfrica, 18 February 2025). A proposed 2% VAT hike sparked a row in the Government of National Unity (GNU), with partners like the Freedom Front Plus crying foul over last-minute notice (BBC, 19 February 2025).
President Ramaphosa defended Godongwana, saying, “No finance minister will just willy-nilly raise taxes” (Eyewitness News, 21 February 2025). But the South African Communist Party (SACP) slammed the lack of consultation (IOL, 19 February 2025). This domestic drama could dent South Africa’s credibility as G20 host, though Godongwana’s focus on reforms over ratings at Davos (Reuters, 20 January 2025) shows he’s playing the long game.
What’s in It for Ordinary South Africans?
These fancy meetings might feel far from the average South African’s life, but they hit close to home. High debt means less cash for fixing Eskom blackouts or creating jobs – unemployment’s still above 30%. If the G20 can unlock cheaper loans or green funding, it could mean more solar panels, better roads, or even a few extra rands in people’s pockets.
Posts on X reflect the mood. One user wrote, “Hosting the G20 in Cape Town is huge, but will it fix our potholes or power cuts?” Another said, “Proud of SA leading, but debt talks better deliver.” The George Herald (24 February 2025) summed it up: “Global leaders will this week come together in Cape Town to tackle economic and financial challenges in an effort to promote stability, growth, and international cooperation.”
Voices from the Continent and Beyond
South Africa’s not just speaking for itself – it’s carrying Africa’s flag. The African Union’s seat at the G20 table, won in 2023, gives the continent a louder voice. Nigeria’s Foreign Affairs Minister even scored South Africa’s backing for an African Union post during a Cape Town sideline chat (Africa Intelligence, 16 January 2025). It’s a sign of the teamwork Ramaphosa’s pushing.
Globally, the G20’s reach is massive. From China’s trade muscle to Brazil’s green ambitions, every member brings something to the pot. South Africa wants to stir in equality – making sure poorer nations aren’t left scraping the bottom.
Day One Preview: What to Expect
When Ramaphosa opens the meeting on 26 February, expect a warm welcome laced with a call to action. He’ll likely echo his Davos plea for “collective efforts” and “sustainability” (DIRCO, 21 January 2025). Godongwana and Kganyago will then take the floor, guiding debates on debt relief and green finance. The Deputies’ groundwork – like the Africa Panel plan – will give them a running start.
Voice of the Cape (24 February 2025) reported that day one will include closed-door sessions, with a joint statement expected by 27 February. That document could signal whether Africa’s priorities get the green light.
🔴 Central News Special Edition | Issue 94 🔴 Download the Latest Print and E-Edition | Headline: “I am a proud International criminal,
Malema Fires back at Musk and Trump”
Download Here:
Direct PDF Link:
https://centralnews.co.za/wp-content/uploads/2025/02/Central-News-Issue-094.pdf
Read all our publications on magzter:
https://www.magzter.com/ZA/Central-News-Pty-Ltd/Central-News/Newspaper/All-Issues
Central News also offers Sponsored Editorial Content, Podcasts , Radio / Social Media Simulcast, Video Production , Live Streaming Services, Press Conferences, and Paid Interviews (Video/Audio) etc.
We guarantee exceptional exposure, reach, and engagement, with an excellent return on investment.
Advertisement:
To place your advert on our platforms (Print Newspaper or Digital Platforms) : Please email : sales@centralnews.co.za
For Business Related:
business@centralnews.co.za
Newsroom:
Send your Stories / Media Statements To: newsroom@centralnews.co.za
General Info:
info@centralnews.co.za
Office Administrator:
admin@centralnews.co.za
Whatsapp / Call: 081 495 5487
Website: https://www.centralnews.co.za
Social Media Platforms (@centralnewsza) : Linkedin, Facebook, Tiktok, Twitter, Instagram, Youtube