South Africa's G20 Presidency: our chance to turn African potential into global influence

Media Release

South Africa's G20 Presidency: our chance to turn African potential into global influence 

By Emrie Brown, RMB CEO 

South Africa's assumption of the G20 presidency on December 1, 2024, marked an important opportunity for the country, the continent and global South.  

This historic event, the first time an African nation leads this influential forum, holds the potential to reshape global financial architecture, geopolitical and multilateral institutional coordination, and sustainable and shared growth. It is a tangible opportunity to drive a progressive agenda onto the world stage, viewed through a uniquely African lens. 

Rand Merchant Bank (RMB) is committed to partnering with the  public sector, not only for the success of our G20 Presidency, but across economic reforms that will advance the betterment of South Africa and the continent. 

The G20 represents 85% of global GDP and two-thirds of the world's population. For a developing African nation like South Africa to lead this group is unprecedented. We must seize this moment to advance critical global conversations, championing the theme of "Solidarity, Equality, and Sustainability."  

Our leadership is not just about participating; it's about directing the discourse towards inclusive solutions that benefit not only the G20 nations but the entire global community. The G20 Leaders' Summit in November 2025, along with the numerous preparatory meetings, provide the perfect stage to showcase African ingenuity and determination. 

In 2018, the African Development Bank (AfDB) Annual Meetings were held in Seoul, South Korea. The location was deliberate, allowing African leaders to witness the remarkable rise of the “Asian Tigers” to developed status. Their GDP growth, exceeding 7.5% over 30 years, offers a blueprint. Their success stemmed from industrialisation, infrastructure development, targeted skills development, an enabling business environment , and specialised economic hubs. These are lessons that resonate deeply as we embark on our G20 journey. 

South Africa can learn from this.  

We have identified key reforms – trade, investment, financial inclusion, agriculture, and sustainability – that align with the G20's themes. We must leverage this alignment to drive tangible change. A 3% GDP growth target for 2025 is ambitious but achievable through robust public-private partnerships. These partnerships are the bedrock of progress, blending the agility and innovation of the private sector with the reach and resources of the public sector. 

Financial inclusion, a long-standing challenge in South Africa, demands our urgent attention. We must move beyond rhetoric and implement policies that empower marginalised communities. We need targeted interventions and innovative financial products that cater to the unique needs of underserved populations. 

Agriculture, contributing only just under 3% to our GDP, has immense potential. By fostering public-private collaborations, we can unlock job creation, ensure food security, and boost economic growth. Financing and deepening value-chains are essential to identify and capitalise on opportunities within this sector. We can position South Africa as a key player in Africa and global food security, while also boosting our domestic economy. 

The global shift towards sustainability positions South Africa and Sub-Saharan Africa as key players. The region's vast reserves of critical minerals, vital for the clean energy transition, could increase our GDP by 12% by 2050, according to the IMF. We must not only extract these resources but also develop processing industries to maximize their value. This is an opportunity to create high-value jobs and position ourselves as leaders in the green economy. 

Trade and investment are paramount too.  

Mary Vilakazi, FirstRand CEO, will be the co-chair in B20 discussions, emphasising the importance of bolstering trade relationships and attracting foreign direct investment. Partnerships with multinational corporations are crucial for facilitating this. The B20 plays a critical role. It is the official G20 engagement group representing the global business community. It serves as a platform for private-sector leaders to provide policy recommendations to G20 governments, ensuring that the perspectives of businesses—ranging from multinational corporations to small and medium enterprises (SMEs)—shape the economic agenda of the G20.  

Our country can only reap the benefits of a collaborative and partnership approach, and it remains a key priority to continue partnering toward our shared success. We cannot thrive in isolation. By working together, we can ensure South Africa's G20 presidency leaves a lasting legacy, driving inclusive and sustainable growth for our nation and the world.  

For RMB, the G20 South African Presidency opens the door for in-depth engagement with global investors, policymakers, and key business leaders, reinforcing our role as trusted financial partners in Africa’s development and growth. Aligning with the G20 agenda, RMB has a unique platform for showcasing innovative financial solutions, strengthening partnerships, and contributing to policy conversations that drive sustainable investment and inclusive growth.  

It’s our shot to turn African potential into global influence—driving trade, inclusion, and sustainability and the urgency of a continent on the cusp of major progress. The world’s watching, and the clock’s ticking to November 2025. 

Let’s embrace this opportunity to entrench deep partnerships to ensure our companies, economies and societies in SA and across the African continent can thrive. 

ENDS