South Africa outlines its G20 presidency implementation strategy, focusing on translating global commitments into practical outcomes for shared progress.
At Davos, South African ministers argued that their G20 presidency moved “from declaration to implementation” by embedding Africa-focused outcomes into multiyear processes and convening power. Finance Minister Enoch Godongwana highlighted a 2025–2030 G20 Finance Track Africa Engagement Framework targeting “macroeconomic vulnerability, weak economic institutions, lack of infrastructure, and high cost of capital,” alongside an endorsed Ministerial Declaration on Debt Sustainability for low- and middle-income countries. He also cited practical tools for project pipelines—blended finance and cross-border infrastructure guidance—and an African Expert Panel backing a “borrowers forum” so debtors have a voice.
The World Economic Forum announced South Africa will host a Spring Davos in 2027, positioning it as a platform to sustain momentum and investment alignment. International Relations Minister Ronald Lamola emphasized bridge-building amid geopolitical strain and argued global institutions must evolve: “the current global order is not saving the global South,” calling for reforms to the UN Security Council and global financial architecture.
Trade Minister Parks framed Africa as central to future value chains—critical minerals, data, and a 2.4 billion population by 2050—while reaffirming openness: South Africa has “no intention of closing itself off,” pursuing WTO reform, diversified trade deals, and AfCFTA implementation. Tourism Minister Patricia de Lille emphasized jobs and event capacity, pitching 2027 as “business and pleasure.”
Good afternoon and welcome. Thank you to the members of the media who are joining us here in Davos and online. My name is I'm the director for Africa at the World Economic Forum and a member of our executive committee. It is a pleasure to welcome you to today's press conference. We are joined by a distinguished panel of ministers from the government of the Republic of South Africa. First, I'd like to introduce to my left the honorable Minister of Finance for South Africa, His Excellency, Enoch Godongwana. Next, I would like to introduce the Minister of Tourism for South Africa, Honorable Minister Patricia de Lille. And next to her, I would like to introduce the honorable Minister for International Relations and Cooperation for South Africa, Honorable Minister Ronald Lamola. And then finally, I would like to introduce the Honorable Minister for trade, Industry and Competition for South Africa. Honorable Minister parks. Thank you for joining us. Today's press conference focuses on how South Africa is building on the momentum of its historic G20 presidency last year, and how global dialogue is being translated into practical collaboration, sustained partnerships and long term impact. South Africa's G20 presidency played a significant role in elevating Africa's engagement in the global economic discussions, and reinforcing the continent's position as an active and constructive partner in addressing shared global challenges. As the global context becomes more complex, there is a growing opportunity to build on the outcomes of the annual summits through platforms that deepen engagement, support, sustained dialogue, cooperation and partnerships between governments, businesses and civil society. Against this backdrop, the World Economic Forum is proud to announce, in partnership with the Government of South Africa, that South Africa will host a Spring Davos in South Africa in 2027, bringing the Forum's global convening platform to the African continent. Similar to the Forum's upcoming global summit taking place in Jeddah this year in April, this global summit for South Africa will create a space for leaders to align on priorities, to explore investment opportunities and strengthen collaboration across regions, with a particular focus on growth, resilience and long term economic opportunity. With that, I am pleased to invite the Minister of Finance for South Africa, honorable Godongwana, to share his perspective. Honourable Minister, thank you for joining us. Could you please highlight the overall success of South Africa's G20 presidency, particularly with the focus on the finance track?
Do I have to press anything on this?
No. It's on.
It's fine. Okay. No, I think, thank you very much. And the members of the media, I think we set ourselves an ambitious targets for the finance track. And we're proud to say we, in fact, in certain areas, exceeded, our targets. Key issues, which we had a focus on the African continent. As for starters, to achieve growth and looked at the critical impediments to that growth and the international organizations and the finance track members supported such an agenda, which focus on on four key areas. One was macroeconomic vulnerability, weak economic institutions, lack of infrastructure, and high cost of capital. The G20 finance ministers launched the G20 Finance Track Africa Engagement framework for 25 to 2030 at their October meeting to support the African continent and its member countries in achieving their economic, financial and related objectives. We acknowledge the multi-year framework as an opportunity for enhancing collaboration between the G20 and Africa, and a lasting legacy of South Africa's presidency. This framework provides a unique opportunity to unlock Africa's regional economic benefits. The major achievement has been the endorsement of the G20 Ministerial Declaration on Debt Sustainability, which commits to supporting efforts by low and middle income countries to address debt vulnerabilities, many of which are on the African continent. This declaration is significant because it outlines key actions and commitments to support sustainable, sustainable debt levels for low and middle income countries. South Africa's presidents continued the G20 original mandate to promote strong, sustainable, balanced and inclusive growth. The G20 endorsed the following reports a risk to the global economy, policy adjustment and enhanced cooperation. B macroeconomic policies and structural reforms for stronger sustainable economic growth in the context of risk from severe weather and natural disasters during South Africa's G20 presidency, there was also a focus on increasing quality infrastructure investment to support faster economic growth. Sustainable development G20 endorsed the following reports. Framework for Effective Planning and Preparatory Practices. Report on plan on blended finance. De-risking measures. The cross Border Infrastructure Toolkit. These provide practical solutions to the to a developing a credible pipeline of projects. South Africa's G20 presidents also established the African Expert Panel to to provide strategic advice by exploring and defining approaches that advances Africa's collective development, development interests. But key recommendations from this has been to say even the borrowers must have a voice, and a critical recommendation is what is called a borrowers forum. As part of this development, which also touched on the recommendation on the cost of capital for the low end developing and middle income countries, and how what are the biases that makes those, higher costs for these countries and recommendations are contained in the report, and that report is available. And finally, South Africa championed the compact with Africa. This is an kind of a co-chaired by South Africa and Germany. And a lot of countries that were are being, joining as part of this, particularly in Africa and those countries working with Germany, with developing major private sector investment in what we call the, combat with Africa countries. Those are some of the achievements that we can highlight as, South Africa key is important, the issue of debt vulnerability and the commitment by every by most of the G20 countries to work with us in that regard. Thank you.
Thank you for that. Honourable Minister. I would like to now, perhaps invite the Minister of International Relations and Cooperations for South Africa, the honorable Minister, Ronald Lamola, Minister, building on South Africa's historic and successful 2025 G20 presidency, how does the spring Davos, South Africa provide a platform to carry forward and advance the presidency's outcomes on a global stage?
Yeah, thank you very much. And to all my colleagues who are here and to the media, South Africa's presidency of the G20 was marked by its bridge building role, successfully navigating geopolitical tensions amongst members to secure consensus on key priorities and deliverables. Guided by the spirit of inclusivity and cooperation, South Africa ensured that the G20 remained focused on solutions rather than divisions. At the same time, South Africa adopted a pragmatic approach to its presidency, balancing an ambitious developmental agenda with the imperative of consensus. We hope to continue on this path in the World Economic Forum 2027 Spring Meeting. So when you bring all the role players across the globe, we will be able to create a conducive environment to find consensus and to build a world where cooperation remains the order of the day. These meetings have proven some of the World Economic Forum have proven, have a proven track record of convening stakeholders from across geographies, industries, and generations. And the World Economic Forum brings together leaders from government, business, civil society, and the scientific and cultural domains to enable real dialogue, proven solve, solving of challenges. This setting is thus an ideal platform for South Africa to further advance its G20 presidency outcomes, in particular those reached at the G20 Leaders Summit in Johannesburg on the 22nd and 23rd of November 2025. And we are continuing even here in this platform, the the G20 leaders recognize, amongst others, in addition to what the our Minister of Finance has said, that climate change is having the greatest effect on countries and communities that are most vulnerable. They agreed on increased funding and support for countries to prevent disasters and to rebuild in the wake of devastating climate disasters, and this rings very true to our communities in South Africa because as we speak, the eastern part and the northern part and some coastal provinces are being ravaged by disaster. And most parts of Mozambique, there was an agreement on increased funding for climate action. This is particularly important for countries, across the sub-Saharan continent and the whole of of Africa. The G20 leaders also agreed that critical minerals that the world needs should benefit those countries and communities where those minerals are found and extracted. Beneficiation at source also spoke on issues of artificial intelligence, the role of the African continent, particularly in research and innovation. Also, a report by Professor Joseph Stiglitz on inequality, which recommended a high level panel, which we also look forward to take through various multilateral platforms. Thank you very much, and we look forward to welcome everyone to further to take these discussions forward. Thank you.
Thank you so much for that. Honourable Minister Lamola. Let me now turn to the Minister of Trade, Industry and Competition for South Africa, Honorable Minister Parks, for the global companies looking to future growth, what will spring Davos in South Africa reveal about Africa's expanding role in global trade value chains and economic transformation?
Thank you very much and good afternoon to members of the panel, colleagues. Ladies and gentlemen. Africa is well positioned today. While challenges remain clear, progress is evident. Improved policy and regulatory environment, stronger institutions, fewer conflict hotspots and a growing wave of youth led startups attracting global venture capital across our engagements this week, both venture capitalists and traditional investors expressed strong confidence in Africa's growth potential and their desire to expand on the continent. Africa is central to the global race for critical minerals, holding an estimated 30% of the world's proven reserves in sub-Saharan Africa alone. As demand for energy transition and advanced manufacturing grows, spring Davos highlights Africa's rising strategic role in the global economy. So firstly, Africa's growth is increasingly driven by its own firms, with fast growing companies emerging in fintech, digital services, logistics, renewables, agri businesses and creative industries. Second Africa is emerging as a major data and digital market with its scale, diversity and cultural richness creating uniquely valuable data sets. Third scale does matter. Africa's population is projected to reach around 2.4 billion by 2050, with a rapidly expanding urban middle class. This makes Africa the single largest growing market of the future. Demand for energy, mobility, housing, food systems, financial services, education and digital connectivity will grow exponentially, creating long term opportunities across global value chains. Fourth, Africa's youth dividend is central, with the youngest population globally, Africa represents the largest pool of future human capital. This is not only a labor force advantage, it is a source of new ideas, entrepreneurial activity and energy and innovation in services, platforms and cultural industries. Fifth, while foreign direct investment into Africa remains low relative to its potential, the trend is improving. Investor perceptions are evolving as companies gain deeper underground experience and the macroeconomic reforms take hold across across many countries. As investment rises, trade will follow the African Continental Free Trade Area, covering a market of 1.3 billion people, is a critical pivot, reducing fragmentation, supporting regional value chains and positioning Africa more effectively within global trade and production networks. And finally, the fundamentals are strengthened. Africa is home to over 60% of the world's arable land, vast critical mineral resources for the green transition, rapidly expanding mobile and digital penetration, and a growing number of reform orientated economies together, together, these trends, these trends rather point to a continent that is increasingly central to the global growth. Thank you very much.
Thank you so much for that, Minister. I'm now pleased to invite the Minister of Tourism for the Republic of South Africa, Minister de Lille. Will hosting Spring Davos, in South Africa in 2027 contribute to strengthening South Africa's position as a premier global tourism? And how will it, I guess, contribute to South Africa's position as a premier global tourism and business investment destination?
Well, thank you for the opportunity. Let me start by thanking the World Economic Forum for selecting South Africa to host, the spring Davos in 2027. We are ready, able and willing and we look forward to us having been afforded this opportunity to host Davos Spring. South Africa is the leading business destination business events destination in the continent and in the Middle East. Business events and tourism adds about 8.8% to the GDP of South Africa and create at least 1.8 million jobs annually. So this will further strengthen our our sector to to create more jobs and to assist us in building that, inclusive economic economy. Now, we have hosted now with the G20, more than 135 business events all over South Africa. That led to the leaders summit at the end of November. And we have illustrated that, you know, our capacity, to host a business events. We do invest as South Africa to compete in the rest of the world to host international events. We have got our own South African National Convention Bureau, where we invest money and we go out around the world, and we bid for international conferences to be hosted in South Africa. Last year, we put out a bid for 65 events. So far, we have secured 35 international events. To give you a taste of what is to come in South Africa in the next year and two, in 2026. Now, in March, we will kick off with the first ever live golf event that will be hosted in Johannesburg in South Africa. That will be followed by an international jazz conference, the Montreal Jazz Festival in Cape Town, and also the Cape Town International Jazz Festival. Then we are also preparing for 2027. We will be hosting, the Cricket World Cup. So business events and tourism and like we are discussing here at Davos, that tourism is central to everything that we are discussing here. It's about investment, it's about infrastructure, it's about digital transformation, and it is about creating jobs. And how do we use technology, especially AI. We must create services for technology, but we must also create services for human beings, because in tourism, technology cannot replace the human factor. And therefore we need to find a balance. And that is what we have been discussing here in Davos. So we look forward to welcome you to South Africa. We will put up a website. We want you to come before the Davos spring, summit and spend some time in our beautiful tourist facilities and even stay after the event. Bring your families and friends and, make it a business and pleasure event. When you come to South Africa in 2027. Thank you very much.
Thank you so much for that. Minister de Lille. Thank you. Ministers. So we will now open the floor to questions from some of the media leaders in the room. Please keep your questions focused on the topics discussed in the session related to this proposed spring meeting. And please kindly refrain from company specific questions. Thank you.
Thank you.
Good afternoon. My name is glorious from SABC news. I'd like to understand, with South Africa being blocked from participating in the G20 in 2026, and we're seeing some African countries also being banned from visiting the United States. What does this mean for African voice on global affairs, especially around during this time of uncertainty?
Thank you. Perhaps we'll take one more question and then I'll go to the minister's.
Good afternoon. I'm sorry if I go off the tangent a little bit. My question is to you. Minister of Global Trade is becoming quite fragmented and protectionist. Can South Africa reindustrialize and, protect itself without closing itself off completely from the global stage? And how are you using the G20 leadership as opposed to strike that balance?
Thank you for the questions. So the question related to the G20, perhaps we'll take one more question then.
Yes. This is, Yasin Subramani from IOL. My question is directed to Minister Lamola. Our finance minister alluded the other night in his speech around the geopolitical headwinds that, we as a country face. You saw the Prime minister of Canada also saying that we are in a rupture and it requires a different approach. Are we going to be seeing a different approach to South Africa, US relations, going forward?
Thank you so much for those questions. So I think, Minister, would you like to take the first question on the G20 participation for this year? And then I think the other two questions directed specifically at Minister, Lamola, on the ruptures that were mentioned by the ILO and then Minister Tao, the question on trade and restrictions there. Thank you.
The the structure of the G20 for now is that the founding member on on the African continent is South Africa. Subsequent to that, the EU has been accepted as a permanent member. There have been two countries which have been permanent invitees, because we've been trying to increase the Voice of Africa, the permanent invitees, Nigeria and Egypt. What I do know, I don't know whether the the Americans have blocked Nigeria and Egypt. What we do know is that South Africa is on leave in for 2026. We have taken leave not because the Americans can chase us out of the G20, but they hold an important instrument, the accreditation. If you don't have the accreditation, you can't get into the venue even if you're around. So they won't accredit us. So we on that point was said. But African Union, for your point, in terms of African voice, the African Union is still in as a member. Mind you, it's for we must take this as purely a temporary setback. For 2026, 2027, I don't think the presidency is going to be the UK. I doubt if the UK will take a similar posture. So it's a temporary setback for 26 only.
So thank you, Minister. Honorable Minister Lamola, the question related to the current geoeconomic ruptures, and fractures. The South Africa is going to take a new approach. I think that was the question.
Thank you very much. As South Africa, we welcome the reawakening, that we have here, dear, from many of the countries, the European Union, Canada, because as part of the African continent, we have been raising these realities, that, the, the current global order is not saving the global South and in particular the African continent. And it was for that reason that we called for the reform of the UN Security Council. We call for the reform of the global financial architecture. It's part of the declaration, of the South Africa's G20 presidency. We have called for the reform of the financing for climate change, that the African continent received less than 5% of global financing for climate change. So we are happy that, these voices are becoming many. So something is going to happen, in the platforms of the UN and in other, multilateral platforms, because when member states of all these institutions, including the world Bank, the IMF and all other institutions now speak in one voice that we need to reshape these global institutions to become relevant, to evolve with the current changing dynamics. If you read our president speech, last year at the UN General Assembly, he anchored it on all this to say that, when the UN was formed, almost majority of the African countries were still under colonialism. But now they have gained independence. It means the UN structures, including its Security Council, must be reformed to reflect, to reflect this, realities. And he anchored it on the, on the UN charter. And we agree that this evolution needs to to be embraced, but it needs to be acknowledged that the African continent has been raising this for, for quite some time. And, it does need to be to be, to be, to be, to be taken forward. So we look forward to the engagements in this, platforms to, to take these discussions forward. And with regards to whether we will, have a different approach in our relations with the US, since, the, the, this issue of tariffs started, South Africa started its diversification process, you will have seen the visits to the various, parts of the globe, including Southeast Asia and many parts of the continent, to anchor on the Africa Free Trade Area. And our states do show that these, diversification strategy in terms of trade, it is beginning to bear fruits which are positive. So we'll continue on that path to to diversify, to build self-sustainability within our own domestic capabilities, internal resource mobilization, that is what is needed within the country, but also for South Africans to gear up for the difficulties that will arise as changes happen. To prepare ourselves for this unpredictable world. But, remain calm, restrained and continue to play our role in the various global platforms and multilateral institutions. Thank you.
Thank you, Minister and Minister, to the question around how South Africa and Africa can succeed in sort of the reshaping of these global values of global supply chains.
Well, thank you very much. Once again, you know, one of the recurrent themes in the discussions here at the World Economic Forum has been the reality that global trade has been significantly disrupted, in the past year. And part of that has led to a situation where trade, under the rules of the World Trade Organization, has decreased from an estimated 80% to 70%. And that disruption has not just been on South Africa, not only on Africa, but it's been a global challenge that we all have to deal with. So we're dealing with it at different levels. The first is that a multilateral level? In fact, this morning where a meeting, an informal meeting of ministers of the World Trade Organization in preparation for the ministerial conference taking place in Yaoundé, Cameroon, in March, and one of the points that were reaffirmed was the need for us to have to continue having a rules based trading system globally. We also acknowledged, of course, that the World Trade Organization has on its own face challenges and therefore the need to ensure that we reform the World Trade Organization, its systems, its processes, how it deals with disputes and in an environment of trade disputes between countries or trade disputes that involve companies in our respective countries. How do we deal with that on the basis of agreed to rules? And we think those issues are important in taking forward world trade and stabilising the world trading environment. The second is at a bilateral level. I can reaffirm that South Africa has no intention of closing itself off. South Africa has no intention of seeking to define itself as outside the global community of nations, and the trade flows that are happening between nations, right. So we have been actively involved in, amongst others, consolidating existing trading partnerships and platforms. We have been engaging with Mercosur, amongst others, on accelerating implementation of a historic agreement that we have with them. We've been engaging Asean on an agreement with Asean nations. We've been engaging with the GCC countries, the UAE, Saudi Arabia, and now, would be having engagements with Qatar and others. And indeed, we're talking to Canada, Australia, Switzerland, and to diversify our trading partners. But starting with a consolidation of partnerships that we have, including, of course, the United States of America, you would know that we continue to engage with the US on the possibility of an agreement on reciprocal tariffs. And those discussions are ongoing. We'll see how those discussions unfold. But they are an existing trading partner and would seek to to consolidate that. Whilst we look at diversifying our trading partners. And we are finding that many countries across the world are keen to partner with us to enter into agreements with us. In fact, in the number of meetings we've had with our counterparts here at Davos, the statements have been consistent. Can we enter into an economic partnership agreement? Can we enter into a free trade agreement? How do we implement and accelerate implementation of existing agreements? And that, I think, is what not just South Africa is focused on, but the rest of the world. And of course, I should conclude by saying the implementation of the African Continental Free Trade Agreement remains crucial to the to the way in which we view trade and investment going forward. Thank you very much.
Thank you for that. Minister.
Can I just add one thing to just to patch up Gloria on a point, the resolutions and decisions that are contained in the declarations, extend beyond our presidents. So our influence will continue. An example just in terms of the road map for the month and all these development banks, South Africa, during our presidents who said we've been making a lot of decisions, but what we agreed upon is an implement, an implement, a progress report on the implementation of those decisions. And that's going to continue to measure the performance of those is our report. There's the Blended Finances cross-border infrastructure toolkit, which is going to be utilised to find the infrastructure and develop pipeline. So we have established a footprint in terms of our resolutions, which go beyond our presidents. I wanted to make that point.
Thank you for that, Minister. Unfortunately, we're out of time. Minister Dalila, if you would like to say the closing words, before we wrap up. Thank you.
Yes.
I wanted to comment.
On on behalf of the South African delegation. We we want to thank all of the, investors and all of the companies that have been engaged with all of us here. We've learned a lot. We're taking a lot back. And we look forward to welcome you in 2027 to our beautiful country. Thank you very much.
Thank you. And with that, thank you so much, everyone.