South Africa Presents Vision For G20 Presidency At WEF

South Africa outlined its vision of focusing on creating a more fair and sustainable future at the recent World Economic Forum (WEF) Annual Meeting in Davos, as per President Cyril Ramaphosa's weekly Presidential newsletter on Monday.

"We made the point that it is in the interests of all countries, large and small, wealthy and poor, to reduce global inequality. That is why one of our priorities is ensuring debt sustainability for low-income countries," Ramaphosa said, SA News reported.

He added, "By freeing up funds for debt relief in these countries, they will be in a better position to invest in infrastructure, industrial development, education, health care and other forms of development."

The president highlighted that one key focus is mobilizing finance for a fair energy transition. This will allow developing countries to pursue low-carbon development while supporting workers, businesses, and communities impacted by the transition.

He also mentioned the need for special financing and insurance to help vulnerable countries rebuild after natural disasters and use critical minerals to drive inclusive growth. The president emphasized that for sustainable growth to happen, countries must collaborate.

Ramaphosa stressed that cooperation has always been key to human progress throughout history. He reiterated the call for solving global challenges through multilateral actions, emphasizing the need for inclusive solutions in today's interconnected world.

The president stressed that no country could succeed alone and must collaborate with others to address shared problems. He noted that South Africa's message at WEF resonated with participants in Davos, including business leaders, heads of state, and representatives from multilateral institutions.

Many supported South Africa's G20 priorities, recognizing the importance of focusing on Africa, the interests of developing economies, reducing inequality, and pursuing climate-friendly, sustainable growth paths.

Participants praised the smooth transition from the 6th to the 7th administrations and the formation of the Government of National Unity, seeing it as a sign of stability and shared commitment to inclusive growth, employment, and a capable state.

They also welcomed the major reforms taking place in areas like energy, logistics, telecommunications, and water, aimed at growing and transforming the economy.

Ramaphosa said the South African delegation left Davos feeling confident, knowing that many world leaders share their vision for an inclusive, just, and equal world, and are willing to collaborate with South Africa during its G20 Presidency to make this vision a reality.