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The opening round of the World Rugby HSBC Sevens Challenger 2025 kicked off at the Athlone Stadium in Cape Town on Saturday, with all teams playing their first two pool matches of the competition. The men’s event saw some intensely competitive matches and close scorelines as Germany, Chile, Samoa and Canada, claimed two wins each …
Dear Editor The first Pride March in South Africa was on October 13, 1990 in Johannesburg, and I was there, aged 24 years old. I did not wear a paper bag over my head like many others who had no option because they would be fired from work or get beaten up if they openly …
Pride parade celebrates queerness, love and inclusion
Human rights organisation wants Refugees Act amendments declared unconstitutional
The Western Cape Minister of Mobility, Isaac Sileku, has taken a significant step in positioning the Central Karoo as a leading non-motorised, environmental friendly transport district by distributing 124 bicycles to several local schools, a cycling club, and neighbourhood watches (NHWs). Distribution took place from 24 to 27 February and was done in collaboration with …
On Thursday, 27 February 2025, Premier Alan Winde replied to the debate on the 2025 Western Cape State of the Province Address (WCSOPA) held in Beaufort West. Helping businesses to grow and create jobs Premier Winde reiterated that the Western Cape Government, its officials, the private sector, and every resident of the province must step …
The captains of the 12 women’s and 12 men’s teams gathered outside the team hotel, overlooking the Cape Town harbour and Table Mountain, on Thursday ahead of the opening round of the World Rugby HSBC Sevens Challenger 2025, which takes place at the Athlone Stadium on 1-2 March, followed by the second round on 7-8 …
G20 reiterates support for the FATF
The G20 Finance Ministers and Central Bank Governors have reiterated support for the work of the Financial Action Task Force (FATF) in combatting money laundering, terrorist financing, and the financing of proliferation of weapons of mass destruction.
This according to a Chair’s Summary of the meeting of the G20 Presidency held in Cape Town this week.
The meeting took place on 26 and 27 February.
“[Members] reiterated the importance of stepping up global efforts to effectively implement the FATF’s revised Standards on the transparency of beneficial ownership of legal persons and arrangements, as well as on asset recovery and international cooperation, to prevent criminals from hiding the proceeds of crime and to facilitate the return of these illicit financial flows and illicit proceeds.
“[The members also] supported ongoing work to revise the FATF’s Standards on payment transparency as well as the implementation of its standards on virtual assets. [Members] welcomed the FATF’s commitment to ensure financial integrity without compromising financial inclusion, by promoting risk-based implementation of the FATF Standards. [They also] supported the FATF’s ongoing work to support low-capacity countries in the implementation of AML/CFT/CPF [Anti-Money Laundering/Combating the Financing of Terrorism/Countering Proliferation Financing] Standards,” Thursday’s summary said.
The FATF is the international standard-setting body that oversees global compliance with anti-money laundering rules.
On global financial inclusion, the meeting noted progress made but reiterated the need to “swiftly integrate the remaining 1.5 billion unbanked individuals into the formal financial sector”.
“Focusing on SDG [Sustainable Development Goals] target populations remains an important objective, despite the progress made in financial inclusion.
“[Members] acknowledged the need to intensify efforts to expand the effective usage of financial services and products, particularly in developing countries. The Global Partnership for Financial Inclusion will discuss a comprehensive diagnostic study, including policy recommendations on “Moving from Access to Usage” of financial services and products.
“[Members also] supported implementing the G20’s 2023 Financial Inclusion Action Plan and ongoing efforts to lower remittance costs,” the summary stated. – SAnews.gov.za
NeoB
Thu, 02/27/2025 - 18:39
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Call to implement G20 roadmap for multilateral development banks
The Group of Twenty (G20) has urged Multilateral Development Banks (MDBs) to enhance their collaboration and efficiency while working with relevant stakeholders to implement the G20 Roadmap for Bigger, Better and More Effective MDBs.
This initiative builds on the legacies of previous G20 Presidencies and aims to strengthen MDBs ability to support global development efforts.
The roadmap is designed to assist countries to meet the United Nations (UN) Sustainable Development Goals (SDGs), as well as to address global and regional challenges with a renewed sense of urgency and determination.
This call comes as the global community is struggling to meet the goals of the Paris Agreement and advance SDGs, which are a universal call to action to end poverty, protect the planet and ensure that by 2030, all people enjoy peace and prosperity.
According to the G20 Chair’s Summary of the first Finance Ministers and Central Bank Governors' Meeting that took place in Cape Town from 26 February -27 February 2025, the meeting discussed the work plan of the International Financial Architecture Working Group (IFAWG) and its focus on four priority areas.
These include strengthening MDBs and ensuring financing for development; enhancing debt sustainability and addressing liquidity challenges; strengthening the Global Financial Safety Net (GFSN) and reforming global governance institutions; and enhancing financial resilience by strengthening capital flows to emerging market and developing economies (EMDEs).
The meeting recalled that the IFAWG was tasked to work with the MDBs to develop a monitoring and reporting framework, with clear indicators, for periodic updates on MDBs’ progress against the Roadmap’s recommendations.
“[The meeting] encouraged MDBs to work with developing countries in enhancing domestic resource mobilisation and increasing private capital investment by supporting enabling conditions, addressing potential obstacles to private investment, and scaling up both innovative risk-sharing instruments and country platforms.
“[The gathering] recognised that the Roadmap encourages MDBs to take steps towards the implementation of all appropriate outstanding Capital Adequacy Framework (CAF) recommendations, safeguarding their long-term financial sustainability, robust credit ratings and preferred creditor status.
“[It also] recalled that the board of each MDB will be best placed to determine if and when a capital increase is needed in addition to CAF measures to support efforts in addressing global challenges and meeting development needs,” the statement said.
The G20 said that it looked forward to progress with the International Bank for Reconstruction and Development 2025 Shareholding Review in line with the Lima Shareholding principles and recognised the need for enhancing the representation and voice of developing countries in decision-making in MDBs and other international economic and financial institutions.
Transparency and sustainable capital flows
In addition, the meeting looked forward to improvements in the implementation of the Common Framework for Debt Treatments, in a predictable, timely, orderly, and coordinated manner, informed by the recommendations from the G20 Note on the Lessons Learned.
It welcomed joint efforts by all stakeholders to continue working towards enhancing debt transparency.
“[The meeting] encouraged the International Monetary Fund (IMF) and World Bank to continue their work related to feasible options which are country-specific and on a voluntary basis to help vulnerable countries with near-term liquidity challenges whose debt is sustainable.
“[It also] reiterated the commitment to a strong, quota-based, and adequately resourced IMF at the centre of the GFSN.
“[The meeting ] acknowledged the urgency and importance of realignment in quota shares to better reflect members’ relative positions in the world economy while protecting the quota shares of the poorest members; and the IMF Executive Board’s ongoing work to develop by June 2025 possible approaches as a guide for further quota realignment, including through a new quota formula, under the 17th General Review of Quota,” the statement said.
Furthermore, the G20 encouraged IMF members with strong external positions, especially those who have not already contributed, to make additional voluntary contributions to the Poverty Reduction and Growth Trust and the Resilience and Sustainability Trust.
It continued to invite countries that were willing to voluntarily explore channeling Special Drawing Rights, including through MDBs, where legally possible, whilst respecting their reserve asset status.
“[The meeting] reiterated efforts to promote sustainable capital flows to EMDEs and foster sound policy frameworks, notably through central bank independence. [They also] recognised the growing importance of non-bank financial institutions (NBFIs) and planned to deepen the understanding of their role in shaping EMDE investment flows,” the statement said. -SAnews.gov.za
nosihle
Thu, 02/27/2025 - 18:57
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G20 focuses on financing health
The South African Group of Twenty (G20) Presidency will continue the focus on finance and health coordination through the Joint Finance and Health Task Force (JFHTF), as it recognises the high potential impact of health risks on the global economy.
This is according to the G20 Chair’s Summary of the first Finance Ministers and Central Bank Governors’ Meeting that took place in Cape Town from 26 February - 27 February.
The JFHTF seeks to enhance the collaboration and global cooperation on issues relating to pandemic prevention, preparedness and response, thus leaving the international community better prepared in the eventual case of future health threat outbreaks.
The Task Force will also promote the exchange of experiences and best practices, developing coordination arrangements between Finance and Health Ministries, promoting collective action and encouraging effective stewardship of resources to address the existing financing gaps in pandemic preparedness and response.
The G20 welcomed discussion on addressing deep challenges in the capabilities of countries to prevent, prepare for, and respond to pandemics.
“[The meeting] recognised the critical importance of sustainable health financing in addressing these challenges, and towards achieving health Sustainable Development Goals (SDGs) on universal health coverage. [The meeting] looked forward to the Task Force delivering important work this year by updating the Global Report based on the Framework for Economic Vulnerabilities and Risks.
“The South African G20 Presidency looked forward to updating the Operational Playbook for pandemic response with a focus on day zero and surge financing, as well as simulation exercises to assess the efficiency of domestic and international finance coordination in dealing with future health emergencies and identify any remaining gaps,” the summary statement said on Thursday.
The G20 welcomed the important contribution of the Pandemic Fund, as a component of pandemic prevention, preparedness and response financing.
It recognised current contributions and encouraged increased support to the fund, in particular through the voluntary expansion of its donor base.
“[The meeting] looked forward to the plan to take stock of the JFHTF since its establishment, to discuss and evaluate the options for its potential evolution. [It also] acknowledged the continued support of the World Bank and the World Health Organisation (WHO), and the WHO for hosting the JFHTF Secretariat,” the statement said.
Infrastructure development
Furthermore, the meeting recognised that increasing quality infrastructure investment is critical to support faster, inclusive and sustainable economic growth and development.
During the meeting, the Infrastructure Working Group discussed the importance of continuing to focus on addressing impediments to long-term finance and creating an enabling environment for infrastructure as an asset class.
In this regard, the Presidency will prioritise:
• the development of a robust, accessible and investable pipeline towards attracting private sector participation;
• exploration of blended finance de-risking measures to bolster sustainable infrastructure investment flows, particularly in Emerging Market and Developing Economies (EMDEs); and
• development of a toolkit to assist countries in overcoming significant barriers to advancing cross-border infrastructure projects.
-SAnews.gov.za
nosihle
Thu, 02/27/2025 - 18:50
8 views
SA welcomes EU support on geopolitics
The Cabinet has welcomed the support of the European Union (EU) for South Africa’s positions on global geopolitics and the priorities of its Group of 20 (G20) Presidency.
This follows the successful 16th Ministerial Political Dialogue between South Africa and the EU, which took place on 19 February 2025 in Cape Town.
“The dialogue presented an opportunity for the EU and South Africa to reiterate their common commitment to multilateralism, rules-based international order, and the centrality of the United Nations (UN) Charter,” said Minister in the Presidency, Khumbudzo Ntshavheni on Thursday.
The Minister was addressing a post-Cabinet briefing in Cape Town after Wednesday's meeting.
According to Ntshavheni, the parties at the ministerial dialogue also agreed on the need to reform the UN Security Council, recognising the urgent need to make it more representative, inclusive, transparent, efficient, democratic and accountable.
The EU and South Africa discussed their cooperation in multilateral and regional fora, highlighting their joint efforts to promote human rights, sustainable development and address climate change.
“They also reviewed opportunities to step up cooperation on sustainable value chains, including critical raw materials to further their respective competitiveness, economic security and decarbonisation efforts,” Ntshavheni said.
She explained that the meeting also acted as a preparatory platform for the upcoming EU-South Africa Summit, scheduled for 13 March 2025 in South Africa.
The summit will focus on improving economic relations, ensuring a just energy transition, addressing security and defence issues, promoting sustainable value chains and enhancing multilateral cooperation.
The EU is South Africa’s top source of foreign direct investment and South Africa is the EU’s largest trading partner in Sub-Saharan Africa.
Moreover, Ntshavheni said the meeting also underscored the importance of holding the EU-African Union (AU) Ministerial Meeting and Summit in 2025. – SAnews.gov.za
Gabisile
Thu, 02/27/2025 - 13:09
254 views
More than 716 900 SASSA beneficiaries transition to Black Cards
Over 716 900 South African Social Security Agency (SASSA) beneficiaries have transitioned to the Postbank Black Cards from the previous SASSA Gold Cards, Cabinet said on Thursday.
Minister in the Presidency Khumbudzo Ntshavheni said card distribution sites have been increased around the country to ensure that beneficiaries are assisted before the 20 March 2025 deadline.
“More than 716 900 beneficiaries have transitioned to the Postbank black cards and card distribution sites have been increased around the country to mitigate the queues so that every beneficiary receives the new card near where they live.
“Postbank has also increased the number of tellers in the card replacement sites from 2 tellers to up to 5 tellers depending on the business of the site,” the Minister said at a post-Cabinet briefing in Cape Town.
Cabinet also encouraged beneficiaries to visit their nearest Checkers, Shoprite, Pick ‘n Pay, Usave, or Boxer stores to collect their new Postbank Black Card.
READ | Grant beneficiaries urged to replace expiring SASSA Gold Cards
Steps to take
A valid South African identity document (ID) or temporary ID is required. Mobile offices will also be available in rural areas to assist beneficiaries.
Additionally, Postbank has partnered with the Spar Group, which will designate 200 of its stores as service sites across the country.
“Cabinet reminds beneficiaries that the old SASSA Gold Card will stop working on 20 March 2025 and beneficiaries who have not exchanged their cards by then will need to visit their nearest Post Office branch to access their funds,” the Minister said.
SASSA had previously said that Postbank has also made it easy for beneficiaries to locate the nearest place in every province where they can collect their Postbank Black Cards.
All they need to do from the comfort of their homes is to use their cellphone and:
• Dial: *120*218*3#
• To continue, reply by pressing number: 1; and
• reply with the number representing the province they live in.
To get the new Postbank Black Cards, beneficiaries are required to have a valid South African ID, or a temporary ID. Beneficiaries are urged to be aware that no card will be issued without these documents.
Ensuring that minimum documentation is required to get the new Postbank Black Cards is in line with SASSA and Postbank's ongoing commitment to continuously improve the customer experience of all social grant beneficiaries.
The Postbank Black Cards will be issued free of charge. For further enquiries, beneficiaries can contact Postbank on 0800 53 54 55 or SASSA on 0800 60 10 11.
Government previously moved the initial deadline from 28 February deadline to 20 March 2025. – SAnews.gov.za
DikelediM
Thu, 02/27/2025 - 13:14
838 views
Cabinet confirms appointment of SAA CEO Prof John Lamola
Professor John Lamola has been appointed as the Group Chief Executive Officer (GCEO) of South African Airways (SAA) for two years, Cabinet said on Thursday.
Minister in the Presidency Khumbudzo Ntshavheni made the announcement at a post-Cabinet media briefing in Cape Town.
For her part, the Minister of Transport Barbara Creecy congratulated Lamola on his appointment.
“The Minister of Transport, Barbara Creecy, has congratulated Prof John Lamola on his appointment as Group Chief Executive Officer of South African Airways, as approved by Cabinet on Wednesday, the 26th of February 2025,” the Department of Transport said in a statement.
Minister Creecy said that over the past two years, Lamola, in his capacity as acting CEO, has steered SAA to conclude three years of outstanding audits and in the 2023 financial year to declare profits after many years of not doing so.
“In addition, under his leadership, the entity has expanded to fly domestic, regional, and international routes,” said the department. – SAnews.gov.za
Gabisile
Thu, 02/27/2025 - 14:28
147 views
Cabinet sends best wishes for injured SANDF troops
Cabinet has extended its heartfelt wishes for a quick recovery to all soldiers returning from the Democratic Republic of Congo (DRC) who are currently receiving medical treatment in South Africa.
“Cabinet expressed its well wishes for a speedy recovery for all 1returned injured soldiers who are now receiving medical treatment in South Africa, the home soil,” Minister in the Presidency, Khumbudzo Ntshavheni said on Thursday.
This as the South African National Defence Force (SANDF) announced earlier in the week that the remaining wounded troops in need of medical attention had been successfully repatriated from the DRC and would now receive necessary care and support.
READ | Critically injured soldiers in DRC brought back home
The injured soldiers have been categorised into three priority areas for care – critical, non-critical, and those requiring psychological and social interventions.
This is after 14 troop members lost their lives and others sustained injuries at the hands of the M23 as fighting in the Goma region escalated.
The rebel group fought intensely against the Congolese armed forces, resulting in the deaths of soldiers from 23 to 27 January during M23’s advance on Sake and Goma.
These soldiers were part of the Southern African Development Community Mission in the Democratic Republic of Congo (SAMIDRC), which aims to help restore peace, security, and stability in Africa’s second-largest country.
At a post-Cabinet briefing in Cape Town, Ntshavheni announced that the Executive supports the resolutions from both the African Union Peace and Security Council (AUPSC) and the United Nations Security Council (UNSC) concerning the eastern DRC.
The AUPSC endorsed decisions from the Joint East African Community (EAC) and SADC meeting, which called for an immediate ceasefire, safe humanitarian routes, the withdrawal of uninvited forces, respect for territorial integrity, and the inclusion of all actors in the joint Luanda-Nairobi political dialogue.
“UNSC resolution urged all parties – State and non-State actors in the eastern DRC to conclude an immediate and unconditional ceasefire, as called for by leaders of the EAC and SADC.”
According to the Minister, the resolution further demands that M23 rebel groups withdraw from the territories they have seized in the eastern DRC and called on the Rwanda Defence Forces to stop supporting the armed group and immediately withdraw from Congolese territory “without preconditions.” – SAnews.gov.za
Gabisile
Thu, 02/27/2025 - 13:38
62 views
Make 2025 the year we all step up Stepping up is exactly what leadership demands especially in times of uncertainty. In May last year, we all raised our hands to serve and made that choice. But leadership does not only begin when you are elected. Leadership is about how we act and how we are …
CAPE TOWN: Lhuan-dre Pretorius and Matthew Boast both starred to help the Momentum Multiply Titans secure their first win of the...
SA positioned to navigate challenging geopolitical situation – WEF President
Amidst a fragmented geopolitical landscape, the President and CEO of the World Economic Forum, Børge Brende, has expressed support for South Africa’s Group 20 (G20) Presidency.
“In such a polarised, fragmented world as [the] backdrop of this G20 leadership, I think South Africa is especially well positioned to handle this very complicated geopolitical situation,” Brende said on Tuesday.
Brende was addressing the Business 20 (B20) -- the official dialogue forum for domestic and international business communities.
In his address, he stated that South Africa has extensive experience in managing competition and its history.
“It’s not an easy G20 to take on but that’s a reality with the geopolitical backdrop that [it] is happening against,” Brende said.
He said the current geopolitical situation is a priority for everyone, making the global business voice more crucial than ever.
“The last weeks have shown us we have to fasten our seat belts and even getting people that don’t agree [with us] in the same room is not almost an achievement. I saw that in Davos this year when people don’t agree [with you] they don’t want to even discuss [matters]. But to break impasses at least, you must start with the dialogue and sit in the same room and say, ‘this is important to me’.
“Sherpas can then try to find some solutions, because the solutions are so incredibly important…,” he said.
With South Africa set to host the G20 Leaders' Summit later this year, Cape Town hosted the two-day B20, which began on Monday.
Western Cape Premier Alan Winde previously said that the province and Cape Town look forward to welcoming the world once again.
READ | Cape Town to host B20 meeting
The gathering focused on the theme “Inclusive Growth and Prosperity through Global Participation.”
Brende said the private sector has a key role to play in mobilising investment, driving innovation, and finding solutions to shared challenges.
“That means that if you want to get anything done, you also must work with the business sector. That’s the only way to also get investments and fresh money,” he explained.
He described Africa, with its fast-growing economies and young workforce, as poised to shape the future.
The African Continental Free Trade Area (AfCFTA) alone has the potential to unlock $450 billion in economic gains over the next decade.
The World Economic Forum, he said, has a long-fostered collaboration between business and government, and is committed to supporting this effort through initiatives such as the First Movers Coalition that pushes for green technologies.
“Now is the time for the B20 and G20 to work together to accelerate sustainable growth, strengthen global trade, and ensure that economic progress benefits all.
“South Africa’s long-standing commitment to cooperation serves as a powerful example of what is possible when we find common ground.”
Brende also touched on the key challenges including climate change, cybercrime, and the need for global consensus on issues like carbon dioxide (CO2) emissions and cybersecurity.
Despite the geopolitical tensions, Brende stated that the global economy is expected to grow by over 3% this year.
“Trade is expected to grow by 3%, however, the growth we are seeing in trade is not coming from traditional manufacturing goods. Digital trade and services are projecting significant growth. The biggest game changers over the next few years will be new technologies.”
He said the technological advancements, particularly in artificial intelligence (AI) and machine learning, could boost productivity by 10% in a decade.
– SAnews.gov.za
Gabisile
Wed, 02/26/2025 - 13:58
16 views
South Africa and Japan foster relations
The friendship and collaboration between Japan and South Africa – as an essential factor in the advancement of peace, prosperity and mutual understanding – have been reflected upon at Deputy President Paul Mashatile’s meeting with Japanese Ambassador to South Africa, Fumio Shimizu.
The Deputy President received a courtesy visit from newly appointed Ambassador Shimizu at Mashatile Tuynhuys office in Parliament, Cape Town, on Tuesday.
Shimizu is hosting a high-powered Japanese delegation in South Africa to attend the G20 Foreign Ministers’ Meeting and the meeting of the G20 Finance Ministers and Central Bank Governors, alongside a number of G20 workstream meetings.
At Tuesday’s meeting, South Africa and Japan reaffirmed their strong diplomatic and economic partnership, with Mashatile emphasising Japan’s role in South Africa’s economic growth and investment landscape.
“In particular, the Deputy President appreciated the continued strengthening of South Africa-Japan cooperation in several sectors, including politics, trade and investment, science and innovation, education, energy and development cooperation,” the Presidency said in a statement on Tuesday.
Mashatile highlighted Japan’s role as one of South Africa’s most significant economic partners, particularly in the automotive industry, technology, skills development and mineral beneficiation. He expressed optimism about increasing Japanese investments in local manufacturing, job creation and infrastructure projects.
“In Japan, we see the potential for the increase of already sizable investment in our economy, especially in the automotive industry, technology and skills development, commercialisation and manufacturing, as well as machinery for mining and mineral beneficiation, which are among the key economic drivers in South Africa,” Mashatile said.
The Deputy President and Shimizu committed to strengthening cooperation in various sectors, including science and innovation, education and energy.
Mashatile will undertake a working visit to Japan next month to solidify trade relations and attract further investment.
South Africa also eagerly anticipates the 9th Tokyo International Conference on African Development (TICAD 9) in Yokohama this August, which is expected to further bolster economic ties between Japan and the African continent. – SAnews.gov.za
Gabisile
Wed, 02/26/2025 - 11:26
332 views
Global minimum tax crucial to strengthen tax base in developing countries
Finance Minister Enoch Godongwana says a global minimum tax is crucial to strengthening the tax base of developing countries and developing a fairer global tax system.
The Minister was addressing a panel discussion on tax on the sidelines of the ongoing G20 Finance Ministers’ and Central Bank Governors’ meeting held in Cape Town on Wednesday.
“Over the past decade or so, much has [been] done to try and achieve a more transparent fair and efficient global tax system. We note the work done by the G20 OECD [Organisation for Economic Co-operation and Development] on base erosion and profit shifting.
“[This] work needs to be commended as it…has compelled us to think about how to work together towards a fairer and more sustainable tax system that will benefit all countries.
“The introduction of the global minimum tax is an important step towards achieving this goal. We believe it offers all countries, developed and developing economies, the opportunity to strengthen their tax base in cases where multinationals operating in those countries are not taxed sufficiently in other jurisdictions. This will enable better domestic resources mobilisation for all countries,” he explained.
Godongwana noted that although progress has been made, “much still needs to be done in ensuring that international tax reforms are implemented by all countries”.
“Concerns remain about the level of complexity in the global tax system. This is especially true for developing countries where capacity constraints…limit their ability to effectively administer transfer pricing to cite but one example.
“Capacity constraints also limit developing countries from participating in the information sharing which is crucial to unlocking transparency in respect of capital flows, asset allocation and beneficial ownership.”
Furthermore, he added that improvement in international cooperation and access to information are “key to limiting the effect of complex and aggressive tax structuring”.
Godongwana told the gathering that the United Nations also has a role to play in giving developing countries a “voice to express their challenges and concerns”.
“The UN [United Nations] process should never be seen as an alternative or opposing process to that of the G20 nor should it lead to division. Both processes can be beneficial to all countries…as more cooperation and more inputs will ultimately lead to a more sustainable outcome.
“We can all recognise that working together as a diverse group to find common solutions is very challenging. However, we have learnt as a country that embracing diversity results in better solutions,” he said. – SAnews.gov.za
NeoB
Wed, 02/26/2025 - 12:11
20 views
Global challenges require G2O countries to work together
President Cyril Ramaphosa has emphasised the importance of the Group of 20 (G20) members working together to overcome unprecedented challenges, including slow and uneven growth, rising debt burdens, persistent poverty and inequality, and the existential threat of climate change.
“We are not moving quickly enough or boldly enough to address these global challenges. We must collectively target a step-change in our efforts to improve the lives of all of our people and protect future generation,” the President said on Wednesday.
Addressing the opening of the first meeting of the Group of 20 (G20) Finance Ministers and Central Bank Governors in Cape Town, the President said at this time of global uncertainty and escalating tension, it is now more important than ever that the members of the G20 work together.
“The erosion of multilateralism presents a threat to global growth and stability. We know from the experience of past decades that a fair, transparent and inclusive rules-based international order is an essential requirement for economic stability and for sustained growth.
“At this time of heightened geopolitical contestation, a rules-based order is particularly important as a mechanism for managing disputes and resolving conflict. It is vital to ensuring that the rights and interests of the vulnerable are not trampled beneath the ambitions of the powerful,” he explained.
The first citizen said one of the greatest impediments to growth, development and stability is the persistence of inequality within and between countries.
“The pursuit of the United Nations Sustainable Development Goal on reducing inequality is as much of an economic imperative as a social imperative. As the G20 we need deliberate and coordinated efforts to focus on inclusive growth based on responsive trade and investment to grow the incomes of poor nations and the poorest in society.
“We need to ensure equal access to opportunities, especially for women and young people. For nations to flourish, equality and prosperity must be available to everyone – regardless of gender, race, religious beliefs or economic status.
“The pursuit of equality is an imperative for wealthy and poor countries alike. That is why South Africa has placed solidarity, equality and sustainability at the centre of its G20 Presidency,” the President said.
Priorities
In line with the original mandate of the G20 to promote strong, sustainable, balanced and inclusive growth, South Africa has identified four priorities for its G20 Presidency.
The first priority is to take action to strengthen disaster resilience and response.
“The increasing rate of climate-induced natural disasters is disproportionately affecting countries that can least afford the costs of recovery and rebuilding.
“When repeated disasters lead to widespread damage of infrastructure, economic activity is disrupted and livelihoods are destroyed,” the President said.
He said innovative financing and insurance mechanisms must be put in place by the global community – including international financial institutions, development banks and the private sector – to scale up funding for disaster prevention and post-disaster reconstruction.
“Our second priority is to ensure debt sustainability for developing economies. In recent years, low- and middle-income countries have seen their levels of sovereign debt and the cost of servicing that debt rise substantially.
“The combined external debt stock of low-income countries more than doubled in the decade to 2022. Debt service costs are increasingly crowding out spending on education, healthcare and other social services, as well as infrastructure needed for economic development,” the President said.
He stressed that the work of the International Financial Architecture Working Group and other working groups will be particularly important in improving the Common Framework for Debt Treatment, accelerating the reform of multilateral development banks, and strengthening capital flows to emerging markets.
“Our G20 Presidency will be addressing the high cost of capital faced by developing economies as one of the main barriers to sustainable growth. The G20 must show leadership in addressing the imbalances that persist in the global economy and filling the significant gap in funding required to achieve the Sustainable Development Goals.
“The third priority of South Africa’s G20 Presidency is to mobilise finance for a just energy transition. Significantly more funding is required to limit global temperature rise in line with the goals of the Paris Agreement, and to do so in a manner that is equitable and just.”
South Africa has pioneered the use of country platforms to coordinate funding through the Just Energy Transition Partnership.
“We continue to advocate for greater concessional and grant funding to support the energy transition in developing economies. G20 member countries should lead the way in demonstrating ambition on climate action in the lead-up to COP30 in Brazil later this year.
“The need to rapidly scale up adaptation funding is particularly important, as those countries which have contributed the least to climate change are now most vulnerable to its effects. We must also scale up the use of innovative financing instruments, improve coordination among funders, and unlock the potential of carbon markets to create new and diverse sources of funding,” the President said.
South Africa’s fourth priority for the G20 Presidency is to harness critical minerals for inclusive growth and sustainable development.
“We need a G20 framework on green industrialisation and investment that promotes value addition to critical minerals close to the source of extraction. We need to promote the development of low-carbon manufacturing value chains which can support decarbonisation while promoting growth.
“As minerals extraction accelerates to match the needs of the energy transition, the countries and local communities endowed with these resources must be the ones to benefit the most,” said President Ramaphosa. - SAnews.gov.za
nosihle
Wed, 02/26/2025 - 09:39
175 views
President Ramaphosa to open G20 finance track meeting
President Cyril Ramaphosa will open the first meeting of the Group of 20 (G20) Finance Ministers and Central Bank Governors’ under South Africa’s Presidency.
“The first G20 Finance Meeting and Central Bank Governors Meeting in South Africa will focus on the thematic areas of [the] global economy, debt, infrastructure, joint finance and health task force, international taxation, finance sector issues, and sustainable finance,” the Presidency said on Tuesday.
This engagement will take place at the Cape Town International Convention Centre on Wednesday, 26 February 2025.
The G20 Finance Ministers and Central Bank Governors’ Meeting is hosted by the Minister of Finance Enoch Godongwana and Governor of the South African Reserve Bank, Lesetja Kganyago under South Africa’s G20 Presidency theme of “Solidarity, Equality and Sustainability.”
The Finance Ministers meeting is preceded by the second meeting of the Finance and Central Bank Deputies which took place on 24 and 25 February 2025.
“South Africa’s G20 Presidency commenced in December 2024, and the Finance Ministers and Central Bank Governors’ meeting is part of a series of 23 ministerial and approximately 130 working groups meetings that will take place during the course of 2025. The year-long deliberations will culminate in a G20 Leaders’ Summit in November 2025,” the Presidency said.
The G20 was originally established as a meeting of Finance Ministers in response to the Asian financial crisis of 1997-99, with the aim of coordinating policies to promote international financial stability’.
This initiative was elevated to a Heads of State and Government Leaders Meeting in 2008 after the global financial crisis of 2007.
Together, G20 members account for around 85% of global Gross Domestic Product (GDP) and 75% of international trade.
It comprises 19 countries including: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom, and United States and two regional bodies, namely the European Union and the African Union.
The grouping therefore plays a critical role in influencing global policy making and fostering global economic stability. -SAnews.gov.za
nosihle
Tue, 02/25/2025 - 12:00
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The Springbok Women’s Sevens team realise the enormity and importance of the task at hand when they take the field in the World Rugby HSBC Sevens Challenger 2025 at Athlone Stadium in Cape Town this weekend. The Bok Women’s Sevens are expected to be relentless and show some real urgency on Saturday when they face …
A blended approach is key for climate finance
The South African Reserve Bank (SARB) Deputy Governor, Fundi Tshazibana, has emphasised that emerging markets and developing economies need a blended approach to finance both climate change mitigation and adaptation.
Moderating the Group of Twenty (G20) side event on enhancing the global sustainable financial architecture in Cape Town on Tuesday, Tshazibana highlighted the crucial role of climate finance in driving climate transition efforts.
“The Climate Policy Initiative (CPI) global landscape of climate finance has found that concessional finance at present is only at about 11% of total climate finance for the bulk of our governments, especially in emerging markets and developing countries.
“We know that the fiscal space for governments is quite tight, which means governments cannot go this journey alone. In this regard, private sector finance, which compromises of a third of the world’s economic activities will be vital to close the financing gap. However, private investment will require a catalyst to mitigate certain risks and to facilitate market development,” she said.
Although climate financing has doubled from 2018 to 2022, the financing gap remains large.
“In 2022, we reached the $1trillion milestone in climate finance but analysis by the CPI shows that although climate finance has doubled since 2018 having grown from $674 billion US dollars to about $1.4 trillion in 2022, there are still significant gaps in terms of what needs to be funded in this space,” the Deputy Governor said.
According to the CPI estimates, about $7.4 trillion is needed every year this decade to keep the world on track and limit global temperature rises by 1.5°C.
“To reach these levels we need to have conversations around how to direct capital flows that are needed in this regard. The largest climate investment gaps in absolute terms have been observed in the transport sector but we know that we need increased investment in agriculture, forestry and other land use as well industrial initiatives as well. Financing needs are also significant in the area of adaption,” she said.
Tshazibana explained that the work done by various organisations including the Network for Greening, the Financial System and the World Bank shows that a blended approach to financing for both climate change mitigation and adaptation is required.
She said co-financing can increase total project funding and provide a mix of financial instruments to mobilise private finance.
“Partnerships and collaboration involving multiple development actors can unlock private funding and accelerate global climate investment and increase efficiency of the use of scarce concessional funds,” the Deputy Governor said.
She said these partnerships leverage distinct and complementary institutional advantages and could take many forms, such as co-financing, project preparation, capacity building, policy support and risk mitigation. - SAnews.gov.za
nosihle
Tue, 02/25/2025 - 15:52
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Traditional leaders urged to help build a better SA
President Cyril Ramaphosa has called on traditional leaders to work alongside the Government of National Unity (GNU) in shaping a prosperous and inclusive future for South Africa.
Addressing the annual opening of the National House of Traditional and Khoi-San Leaders (NHTKL) at the Good Hope Centre in Cape Town, the President reaffirmed the vital role of traditional leadership in the country’s development.
“As the Government of National Unity, I once again call on Amakhosi to join hands with us as we embark on a new, glorious future for South Africa and its people,” said President Ramaphosa said on Tuesday.
The National House of Traditional and Khoi-San Leaders comprises traditional leaders who are delegates from the Provincial Houses of Traditional Leaders of South Africa and represent the Provincial Houses at national level.
He highlighted the historical significance of traditional leadership, noting that traditional leaders support governance in many rural and peri-urban communities, often facing the harshest conditions of poverty, inequality, and climate change.
The President expressed concern over the recent devastating floods in KwaZulu-Natal, which led to loss of life and destruction of property and infrastructure. He urged Amakhosi to work with disaster management teams to protect rural communities from extreme weather events.
“The recent floods in parts of KwaZulu-Natal have led to loss of life, damage to farming land, and the destruction of property and infrastructure. Our thoughts and prayers are with all the affected communities.
“I want to use this opportunity to call on you as Amakhosi to work with the disaster management response teams in our provinces and support the work that is being done to protect our rural communities against extreme weather,” he said.
READ | Level 2 heavy rain warning issued for KwaZulu-Natal
Killings
President Ramaphosa strongly condemned the increasing assassinations of traditional leaders, calling the attacks an “affront to our nation".
He referenced the recent killing of Contralesa NEC member and Ndzundza-Fene Traditional Council Chairperson, Kosi Thugwana, in Mpumalanga, stressing that such violence must be rooted out.
“Even one killing is one too many. Be assured that our law enforcement agencies are working around the clock to ensure that the perpetrators of these heinous crime are brought to book.”
Shared prosperity
The President reiterated the government’s commitment to working with traditional and Khoi-San leaders to foster unity and development. He also emphasised the importance of their participation in the upcoming National Dialogue, a platform aimed at fostering inclusivity and shaping the country’s future.
He said that government will rely on the traditional leaders’ guidance to rally people towards a future of shared prosperity and inclusivity.
“It will be important that traditional leaders and the communities they lead [to] participate in the National Dialogue so that the process produces a plan that reflects the interests and aspirations of everyone.
“The Medium Term Development Plan that we have adopted as the Government of National Unity intends to advance three strategic priorities: to drive inclusive growth and job creation, to reduce poverty and tackle the high cost of living and to build a capable, ethical and developmental state,” the President explained.
He also highlighted ongoing consultations to review the White Paper on Local Government and emphasised the role of Amakhosi in shaping policies that affect rural communities.
The Deputy President has been mandated to facilitate dialogues with traditional leaders, further strengthening collaboration between government and traditional institutions.
Legislative developments
Following the Constitutional Court’s ruling that declared the Traditional and Khoi-San Leadership Act unconstitutional, the President confirmed that steps were being taken to reintroduce a revised bill in Parliament.
He urged traditional leaders to actively participate in consultations to ensure their interests are reflected in the legislation.
In addition, President Ramaphosa addressed the longstanding issue of customary initiation practices, particularly in the Eastern Cape, where fatalities and injuries continue to be a concern.
The government has gazetted regulations for public comment and is working towards drafting guidelines to regulate initiation school fees and prevent exploitation.
READ | Hlabisa and traditional leaders discuss safer customary initiation plan
Turning to the issue of land reform and economic development, the President reaffirmed the government’s commitment to land reform, noting the passage of the Expropriation Act as part of efforts to ensure that land is equitably shared.
The Department of Land Reform and Rural Development has completed its work on the Communal Land Tenure Bill and is set to conduct public consultations.
Tackling gender-based violence and Forum of Majesties
The President urged Amakhosi to take a stand against gender-based violence and femicide, emphasising that such crimes have no place in African culture. He commended the House for its existing initiatives and called for greater involvement in protecting women and children.
“We know that such violence is not part of any culture. Violence against women and children is not part of the nation we want to build.”
Turning to traditional leadership, President Ramaphosa welcomed the launch of the Forum of South Africa’s Majesties, chaired by His Majesty King Makhosonke II, and acknowledged efforts to establish a similar platform for Queens.
He also encouraged traditional leaders to continue engaging with government ministries, particularly in sectors such as mineral resources, to ensure communities benefit from the country’s natural wealth.
G20 and National Budget
With South Africa set to host the G20 Summit for the first time later this year, the President urged traditional leaders to use the opportunity to showcase the nation’s diverse cultural heritage.
He also addressed the postponement of the Budget Speech, explaining that further discussions were necessary to align the priorities of the multi-party GNU.
READ | Government continues working for the people, despite Budget postponement
“In the interests of consensus-building, we are undertaking further discussions so that we can arrive at a budget that everyone can have confidence in a budget that promotes inclusive growth, supports job creation and that tackles poverty and inequality,” he said.
The President further emphasised that despite many challenges, it is through cooperation and partnership that a better South Africa can be built in which everyone enjoys equal opportunity and can lead lives of dignity. – SAnews.gov.za
DikelediM
Tue, 02/25/2025 - 13:17
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