The 2024 B20 was held in São Paulo, Brazil, last week before the G20 is held in Rio De Janeiro at the end of November.
The B20 and G20 summits will offer South Africa the opportunity to shape the debate at these important meetings.
Busisiwe Mavuso, CEO of Business Leadership South Africa (BLSA), attended the B20 Summit in Sao Paulo, last week as part of the business delegation and she says one of the striking features was that South Africa’s problems are certainly not exclusive: many other countries are battling with the same kind of deep-seated problems that we are grappling with.
She says these problems are reflected in the B20 priority areas that include trade and investment, jobs and education, digital transformation, energy and climate transition, finance and infrastructure, integrity and compliance, sustainable food systems and agriculture and women, diversity and inclusive business.
The B20 is the Global Business Forum for the G20 and brings together business representatives from the G20 countries, selected invited countries and international organisations to discuss economic and business issues.
Workstreams on priority areas focused on developing policies and explored ways to work together to address the challenges. Mavuso points out that their recommendations feed into the G20, which meets between 18 and 19 November in Rio de Janeiro in Brazil and into next year’s B20 that will take place in South Africa.
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SA now takes over presidency of G20 from Brazil
She says Brazil successfully concluded the B20 Summit on Friday, marking the end of its presidency before South Africa takes it over, synchronising with the country’s presidency of the G20 for 2025.
“Therefore, next year will be extremely important for the country to showcase itself to the world as we host the B20 and G20 summits. President Cyril Ramaphosa has urged that we use the opportunity to shine a light on local business opportunities with a view to increasing foreign direct investment, but also to present an African perspective, particularly with the African Union formally admitted as a member of the G20.”
She says it gives South Africa the chance to shape the debate as the country has an opportunity to introduce additional custom priority themes as part of the process while hosting next year’s B20 and G20 gatherings.
“It also strengthens our relationships with other member countries. The leader of the South African delegation in Sao Paulo was Mxolisi Mgojo, president of Business Unity SA and a former CEO of Exxaro Resources. He is an eloquent speaker and emphasised how remarkable the co-operation and support extended to the South African delegation was.
“It was something that impressed me as well, particularly the Brazilian delegation’s support for us in the transition to the B20 presidency, using their experiences to guide us. The US delegation was also particularly helpful and is keen to similarly work with us in preparing for their B20 presidency the next year.”
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SA’s key principles for its G20 presidency
Mgojo presented South Africa’s key principles to guide its presidency in the presidential ceremony and said the starting point is to build on the important work initiated by predecessors, ensuring continuity. He also outlined ways to build on those foundations.
South Africa’s primary strategy would be to pivot from the planning stages to action and implementation. “B20 Brazil played an incredible role in defining key actions. South Africa’s focus will be on executing and delivering tangible outcomes from the established policies to ensure meaningful impact,” he said.
Mgojo also identified three areas where South Africa aims to build on the policy foundations laid at Brazil B20:
- The first is to continue to drive gender inclusivity and he got a standing ovation when he reiterated his pledge that all South Africa’s structures, including the task teams on the various workshops, would have 50% women representation at next year’s B20 South Africa summit. “I’ll hold you to that, Mxolisi,” Mavuso says.
- The second is to push for stronger collaboration between business and governments to work together to achieve global social and economic development goals. He emphasised the huge benefits that South Africa experienced in such collaboration, initially in reaction to the Covid-19 pandemic and then continuing through the business-government workstreams and other areas to address our national crises, including reforming our energy and transport sectors, where we are already feeling the benefits of initial improvements, though there is still a long way to go.
He said business-government collaboration was critical to effectively address social challenges, particularly because policies were designed to be better aligned with real-world challenges.
- The third area of focus also entails improved collaboration – but between nations. The goal is to build bridges between developed and developing nations while recognising the need for a more effective international order to address geopolitical conflicts.
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Much interest in how business works with government in SA
Mavuso says in the same panel discussion there was much interest in determining how the business sector and government can work together to address social challenges. Mgojo emphasised how important it was for political leaders to understand that both parties are working towards the same goals.
He used the successful handling of the South African Covid crisis as an example, highlighting how government recognised the important role business could play and that “there was no time for arguments or agendas.”
He added that extensive resources and initiatives driven by the private sector assisted government in addressing the challenge together. “Both parties were saying, let’s forget everything that divides us and meet this challenge together.”
Mavuso says she also answered many questions about our business-government collaboration and it is a reminder of how important it has been and will continue to be as we execute the numerous reforms that prevent our economy from operating at its full potential.
“It was also a proud moment when South Africa was used as an example of how effective such collaboration could be in addressing social and economic challenges.”
