G20 – Group of Twenty
Since the financial crisis in Asia in the 1990s, the group of the twenty major industrialised and newly industrialising countries (G20) has met at the level of ministers of finance and presidents or chairmen of the central banks. In response to the global economic and financial crisis, the heads of state and government also started meeting in the G20 context in November 2008 in Washington. In addition to the G7 countries, member states include China, India, Brazil, Mexico, South Africa, Australia, South Korea, Indonesia, Argentina, Saudi Arabia, Turkey, Russia and the EU. The G20 Summit in Pittsburgh in 2009 took the decision to meet twice in 2010 (in Canada and in Korea) and to have an annual G20 Summit from 2011 onwards. There was an initial discussion as to whether the G8 and G20 meetings should be merged, however both platforms have since been established as high level meetings. In addition to financial issues, the G20 agenda now also includes more and more discussions on other global challenges such as environmental and development policies.
South Africa's G20 Presidency
South Africa hold the G20 Presidency from 1 December 2024 to 30 November 2025, only five years before the deadline of the United Nations (UN) 2030 Agenda.
South Africa's G20 Presidency takes place when the world is facing a series of overlapping and mutually reinforcing crises, including climate change, underdevelopment, inequality, poverty, hunger, unemployment, technological changes and geopolitical instability. The UN Secretary-General, Mr Antonio Guterres, underscored the urgency of the situation during the launch of the Special Edition of the Sustainable Development Goals (SDGs) Progress Report on 25 April 2023.
South Africa will address these urgent challenges by building partnerships across all sectors of society, acting in the interests of our shared humanity.
It is with the spirit of Ubuntu that South Africa approaches its Presidency of G20. This African philosophy emphasises the interconnectedness of individuals within a broader communal, societal, environmental and spiritual context. This guiding principle will shape South Africa's approach as it seeks collective solutions to pressing global collective economic and financial challenges.