![President Cyril Ramaphosa held a bilateral meeting with President Karin Keller-Sutter of Switzerland on the margins of the first meeting of the G20 Finance Ministers and Central Governors in Cape Town. [Photo:GCIS]](https://theafricadailypost.com/wp-content/uploads/2025/02/54350981557_ab935cc882_k-860x592.jpg)
Cape Town — President Cyril Ramaphosa has urged G20 member countries to work together to confront global issues such as sluggish economic growth, rising debt burdens, poverty, inequality, and climate change.
Speaking at the opening of the Group of 20 (G20) Finance Ministers and Central Bank Governors meeting in Cape Town on Wednesday, Ramaphosa said the pace of addressing these crises is too slow and called for a unified effort to improve lives and protect future generations.
“We must collectively target a step-change in our efforts to improve the lives of all of our people and protect future generations,” Ramaphosa said.
He warned that the weakening of multilateral cooperation threatens global stability and economic progress. A fair and inclusive rules-based international system, he said, is vital for managing disputes and safeguarding the interests of vulnerable populations.
Ramaphosa pointed to inequality as a major barrier to global development. He called for coordinated action to promote inclusive growth, especially by expanding access to opportunities for women and young people.
South Africa’s G20 Presidency will focus on four key priorities. The first is disaster resilience and response, with Ramaphosa urging global financial institutions, development banks, and the private sector to create financing and insurance mechanisms to support disaster prevention and recovery, particularly in vulnerable countries.
Debt sustainability for developing economies is the second priority. He highlighted the rising debt levels in low- and middle-income countries and called for reforms to multilateral development banks and debt treatment frameworks to free up resources for essential social services and infrastructure.
The third priority is mobilising finance for a just energy transition. Ramaphosa advocated for increased concessional funding and grants to help developing nations shift to cleaner energy sources while ensuring social equity.
Harnessing critical minerals for sustainable development forms the fourth priority. He proposed a G20 framework to promote value addition to critical minerals at their source, benefiting local communities and supporting low-carbon manufacturing.
South Africa’s G20 Presidency will focus on solidarity, equality, and sustainability, pushing for climate adaptation funding and innovative financing to meet global development goals.
