Latest news with #G20Leaders'Summit
The South African
17-07-2025
- Business
- The South African
SA's G20 Presidency aims for sustainable economic growth, job creation
As the Chair of the Group of 20 (G20), South Africa's goal is to promote mutually beneficial economic growth, create jobs and advance sustainable development for its partner nations, says Deputy President Paul Mashatile. Mashatile was speaking during the opening ceremony of the China International Supply Chain Expo (CISCE) in Beijing on Wednesday. The event showcases the latest developments in supply chain management. The Deputy President told the attendees that South Africa firmly believes that the establishment of enduring business relationships must occur within the framework of a fair, inclusive, and rules-based global economic order. 'This order should prioritise industrialisation, investment in green technologies, and digital infrastructure as key components of sustainable development, especially for developing economies.' These priorities, according to the country's second-in-command, are reflected in the overall CISCE programme, which closely aligns with areas of potential cooperation between South Africa and China. 'We, therefore, invite our Chinese counterparts to support and participate in the key pillars of our G20 agenda by investing in green industrial projects, renewable energy, digital infrastructure, and regional manufacturing initiatives in South Africa and across the African continent. 'Through such collaboration, we can deepen our strategic partnership and ensure that the outcomes of South Africa's G20 Presidency reflect the shared aspirations of the Global South,' he said. The Deputy President said South Africa looks forward to hosting Chinese and other international buyers, importers and distributors in a tailored procurement mission that will be arranged on the margins of the G20 Leaders' Summit in November 2025. 'We urge all stakeholders to seize these opportunities, foster partnerships, share best practices, and collectively shape the future of supply chain management to build a more connected, resilient, and prosperous world.' The G20 consists of 19 member countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, the United Kingdom, and the United States. It also includes two regional organisations, the European Union (EU) and the African Union (AU). The G20 members include the world's major economies, representing 85% of global gross domestic product (GDP), over 75% of international trade, and about two-thirds of the world population. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
IOL News
06-07-2025
- Business
- IOL News
SA's Debt Crisis: A Crippling Embrace of the World Bank
(From left) President of World Bank, Mr Ajay Banga, Brazil President Lula da Silva, India Prime Minister Narendra Modi, President Cyril Ramaphosa and US President Joe Biden on the margins of the G20 Leaders' Summit held at the Bharat Mandapam International Exhibition Convention Centre in New Delhi, India on September 9, 2023. Image: GCIS Zamikhaya Maseti On June 24, 2025, the National Treasury released an official statement: 'South Africa and the World Bank sign USD 1.5 billion loan agreement to support infrastructure modernisation and development.' According to Treasury, the loan will 'unlock key infrastructure bottlenecks,' particularly in the energy and freight transport sectors. The financing terms are said to be generous: a 16-year maturity, a three-year grace period, and an interest rate benchmarked at the Secured Overnight Financing Rate (SOFR) + 1.49%. In simple Development Finance terms, this interest margin suggests that the loan carries relatively favourable conditions compared to commercial borrowing. The World Bank technocrats would have us believe that this Development Policy Loan (DPL) is both progressive and developmental. But behind this clinical language of policy and project finance lies a deeper crisis, a State slowly surrendering its developmental autonomy in exchange for liquidity. In 2022, South Africa was granted a US$750 million COVID-19 relief loan, drawn from the same DPL mechanism. It was intended to stabilise the health system and support social protection. But that loan was scavenged shamelessly and systematically by the compradorial bourgeoisie and economic vultures. They tore through it like hyenas around a carcass. Who can forget, during the great looting spree, how overnight, car guards, taxi owners, tavern tycoons, traditional leaders, and healers became registered 'suppliers' of the Personal Protective Equipment (PPEs)? Most of the PPEs were of dubious quality, grossly overpriced, and delivered late, if at all, while the dying masses gasped for breath in overcrowded, under-equipped COVID-19 wards. Those who survived the pandemic awoke in a country where the crisis had been monetised, and the hospital became a feeding trough for a corrupt elite dressed in designer ethics. Yes, another World Bank loan. Another embrace of the very institution that generations of African Political Economists from Walter Rodney to Samir Amin warned us would never be a partner in liberation. The intellectual bloodlines of our radical thinkers have long declared: the Bretton Woods institutions are not development partners; they are enforcers of dependency. Walter Rodney, in How Europe Underdeveloped Africa, did not write in polite ambiguity. He was precise and surgical. Underdevelopment, he argued, was not a historical accident nor a technical gap, but a deliberate act imposed through imperial finance, colonial infrastructure, and economic coercion. Today, that analysis breathes again. South Africa, a constitutional democracy, a supposed developmental State, is now borrowing from the very institution that has for decades rehearsed economic suffocation across the continent: Ghana, Zambia, Kenya. We are told this loan will modernise transport corridors, reform Eskom, and support a 'green economy transition.' But herein lies the enduring warning of African Political Economy scholars of the 1960s and 70s: World Bank conditionalities were never neutral technocratic tools. They were ideological weapons designed to discipline post-colonial states and re-inscribe Western hegemony in economic terms. In the first decade of economic development and independence (1960–1970), newly independent nations like Ghana and Tanzania pursued bold paths of import substitution, state-led industrialisation, and social welfare. The World Bank responded by pressuring them to liberalise trade, dismantle subsidies, and invite foreign capital. When they resisted, funding was frozen. Sovereignty was punished. In the second decade of economic development and independence (1970–1980), as oil shocks and collapsing commodity prices crippled African economies, the World Bank returned not with solidarity, but with Structural Adjustment Programmes (SAPs): austerity masquerading as reform. Zambia was forced to privatise its mines, slash public spending, and devalue its currency. These were not technical corrections. They were ideological assaults driven by a neoliberal agenda to open Africa's veins to global capital. Development was delayed. Poverty was institutionalised. Today, South Africa, which still boasts of its economic sophistication, appears to have forgotten these lessons. Our gross government debt has now ballooned to R5.2 trillion, more than 74% of GDP, with R385 billion spent annually just to service that debt. This is not fiscal management, this is economic haemorrhaging. And we have yet to account for the hidden costs of this new loan: procurement dependency, policy capture, and technocratic drift. At the centre of this crisis lies the crumbling foundation of our public health system. For decades, it leaned heavily on foreign aid, especially from USAID, which supported HIV, TB, and maternal health programmes. But now, under Donald Trump's second term with its evangelical, nationalist, anti-globalist turn, USAID funding has been pulled. The consequences are immediate and brutal: clinics without ARVs, retrenched health workers, and rural hospitals collapsing. The system is already disintegrating. And into these vacuum steps, the World Bank not with a health rescue package, but with a spreadsheet of infrastructure loans and governance reforms. So, we must ask, again: what exactly is this new loan for? What does a 'green transition' mean when rural clinics can't even keep the lights on? Will Eskom's restructured grid serve the poor, or simply power private extraction? Why has there been no public debate, no parliamentary interrogation, no provincial consultation? Is South Africa bankrupt? Not yet, in the narrow technical sense. But ideologically, we are bankrupt of imagination. Development has been outsourced to multilateral lenders with no stake in our sovereignty. The borrowing continues, but each loan chips away at our autonomy, our dignity, our democratic will. We must re-read Walter Rodney. Revisit Samir Amin. Reclaim the dreams of Kwame Nkrumah, Samora Machel, Steve Biko, and Robert Sobukwe. Maybe we must begin to learn from Captain Ibrahim Traoré of Burkina Faso, who is sending the imperialists packing.
Time Out
25-06-2025
- Business
- Time Out
SA's new digital tourist visas is a game-changer for travel to Cape Town
Visa applications! If you've ever had to deal with this onerous, often paper-centric process before your trip, pull up a chair. Travellers to our shores from the Middle East, Nigeria, India and China in particular know what we mean. Long forms, consulate queues, and the awkward limbo of 'pending approval' have long been part of the package for visiting South Africa. However, we're optimistic that this is all about to change. This September, South Africa will officially launch a fully digital Electronic Travel Authorisation (ETA) system - a slick, AI-powered visa alternative that promises to shake up how the world gets into the country. And if all goes according to plan, it might just spark a new wave of travel to Cape Town and beyond. So, what is the ETA? Think of it as the visa equivalent of tapping your phone to board a flight. The ETA is a smartphone-based authorisation for short-term stays (under 90 days), processed online with advanced AI risk screening and biometric verification (yes, even a selfie might be involved). It's paperless, painless, and promises approval in hours - not weeks. The ETA will first apply to travellers arriving at South Africa's major international airports, according to Minister of Home Affairs Leon Schreiber. This would include Cape Town International, OR Tambo International in Johannesburg and King Shaka Airport in Durban. 'The ETA will include world-class cybersecurity systems and live monitoring by AI-powered risk engines,' according to Schreiber. We're still waiting for the official list of eligible nationalities (to be announced at launch), but travel and tourism bodies are already calling it a potential 'game-changer.' 'By removing one of the primary obstacles to inbound travel, we're sending a clear message that South Africa is open for business and ready to welcome the world," states Rosemary Anderson, National Chairperson of the Federated Hospitality Association of South Africa (FEDHASA). How does the ETA work? The new Electronic Travel Authorisation (ETA) will be a fully digital system designed to make short-term tourist visas (under 90 days) faster, smarter and easier. Here's what you need to know: Apply online: No embassy queues. Travellers submit their applications digitally via a web portal or mobile app. AI does the vetting: An AI-powered system screens your details in real time using secure, risk-based profiling. Snap a selfie: Advanced biometric validation – including facial recognition tech – helps verify your identity. Get approved fast: Decisions are expected within hours instead of weeks. Travel with your phone: Once approved, your ETA is stored on your smartphone and scanned at automated passport control when you land. Why now? South Africa is hosting the G20 Leaders' Summit in Johannesburg this November, and the country is under the global spotlight. From elevating underrated township experiences to AI innovation, the world is watching to see how we plan to position ourselves as leaders in inclusive, sustainable travel. This visa shift is just one way it's stepping up. According to Tourism Minister Patricia De Lille, being the first African country to chair the G20 Summit is a momentous task. As Chair of the G20 Tourism Working Group, the priorities are clear, with a sharp focus on digitisation: People-centred AI and digital innovation with a strong focus on empowering small and medium enterprises Tourism financing and investment aimed at unlocking inclusive growth and expanding opportunities for women and youth. Air connectivity, which is key to seamless, affordable and sustainable travel across the globe – and especially within Africa Building resilience for sustainable tourism by embedding climate-smart policies, local ownership and community-led models 'These are not abstract ideals. They are grounded in the lived realities of our sector. They reflect the challenges our operators face - from limited digital access to poor route integration. They reflect our values - that tourism must uplift, not exclude, and empower, not exploit,' states De Lille. What it means for Cape Town For the Mother City, this couldn't come at a better time. After years of slow visa processing and missed tourism targets, the ETA system could boost Cape Town's visibility in major travel markets. The eased entry set the scene for: New air routes opened from Asia, the Middle East and West Africa. Greater access for group travel, digital nomads and solo explorers. Shorter lead times between trip planning and arrival (because you won't have to wait 4–6 weeks for a visa). A surge in repeat travellers who've been held back by red tape - until now. Whether you're flying in for the beaches, the Cape Winelands, the food or all three - this new digital visa means you might be able to book it sooner, land easier, and stay longer. Let the countdown begin!
Cision Canada
16-06-2025
- Business
- Cision Canada
Readout - Prime Minister Carney meets with President of South Africa Cyril Ramaphosa Français
CALGARY, AB, June 15, 2025 /CNW/ - Today, the Prime Minister, Mark Carney, met with the President of South Africa, Cyril Ramaphosa, ahead of the 2025 G7 Leaders' Summit in Kananaskis, Alberta. The Prime Minister and the President discussed the strong and growing partnership between Canada and South Africa, with increased co-operation in wildfire management, technology, and trade and investment. The leaders discussed advancing shared priorities under their G7 and G20 presidencies, such as energy security, critical minerals, artificial intelligence, and climate resilience, including wildfires. They agreed to enhance economic co-operation between Canada and South Africa. The leaders are looking forward to the G20 Leaders' Summit in November. This document is also available at
IOL News
06-06-2025
- Business
- IOL News
Trump's bid to dismantle multilateralism diminishes US influence
President Cyril Ramaphosa received a courtesy call from the People's Republic of China's Minister of Foreign Affairs, Mr Wang Yi, on the margins of the G20 Foreign Ministers meeting held at the Nasrec Expo Centre, Johannesburg on February 20, 2025. China, India, Brazil, and others are stepping up, demonstrating that cooperation can move forward even when one of the largest economies chooses to disengage, says the writer. Image: GCIS Reneva Fourie Despite his recent assurances to President Cyril Ramaphosa that he would attend the G20 Leaders' Summit later in the year, President Donald Trump's reliability is questionable. Since beginning his second term in office, Trump has distanced himself from international cooperation and multilateral institutions. His approach to global engagement appears transactional, unpredictable, and driven more by personal instincts than long-term strategy or shared responsibility. This trend has become increasingly evident during South Africa's presidency of the G20. The United States, while formally set to assume the G20 presidency next, has demonstrated a lack of meaningful participation in the lead-up to the Summit. Key officials have been absent from critical meetings. Secretary of the Treasury Scott Bessent missed high-level sessions. Reports have surfaced that Trump instructed his administration to scale back involvement in the G20 altogether. The US also did not participate in the recent G20 Agricultural Chief Scientists meeting despite assurances to support President Ramaphosa having been given in the Heads of State bilateral. These developments raise serious concerns about the US's commitment to global cooperation. The G20 is one of the few spaces where developed and developing countries can collaborate to address global economic and financial challenges. Its member states account for around 85 per cent of global GDP, more than 75 per cent of international trade, and two-thirds of the world's population. However, it does not have a permanent secretariat. The success of the G20 depends on the ability of current, previous, and incoming hosts to work together, building continuity through what is known as the troika system. With South Africa preparing to hand over the presidency to the US, cooperation has become even more important. Unfortunately, the US is not fulfilling its required role. Trump's reluctance to engage with multilateral forums is part of a broader pattern. Earlier this year, he issued an executive order requiring a full review of US participation in international organisations. This review is already having several adverse consequences. Future funding for UNWRA, the World Health Organisation and UNESCO is uncertain. The United Nations is currently planning significant budget cuts of between 15 and 20 per cent as part of its UN80 Reform Initiative. Although Secretary-General, António Guterres, insists that the US does not directly cause these cuts, the reality is that it has not paid its dues in full. At a time when global coordination is essential, the reduction in funding and staff weakens one of the world's most important platforms for cooperation. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ The financial priorities outlined in Trump's 2026 budget proposal reflect a similar retreat. It includes only 9.6 billion dollars in new international spending, which represents a reduction of more than 80 per cent when expected rescissions are taken into account. The administration also plans to cut 15 billion dollars from renewable energy and carbon capture programmes and 4.5 billion dollars from conservation efforts. These proposals send a clear message. The US, under Trump, is turning inward, cutting itself off from collective solutions to the challenges that affect all countries. This approach is especially damaging to global trade. Trump's abuse of tariffs, often without consulting allies or respecting World Trade Organisation processes, has undermined the very foundations of the international trade system. By acting unilaterally and ignoring established norms, the US weakens the credibility of institutions that seek to facilitate fair and predictable global commerce. Despite these actions, work continues. Non-state US actors continue to engage in the technical and policy-related activities of various G20 working groups. Under its G20 presidency, South Africa has advanced a forward-looking agenda focused on inclusive growth, climate resilience, food security, and digital innovation. These priorities reflect the urgent needs of the Global South and speak to a broader shift in global leadership. China, India, Brazil, and others are stepping up, demonstrating that cooperation can move forward even when one of the largest economies chooses to disengage. Trump's absence may grab headlines, but it will not stop progress. The G20 was not designed to revolve around one country. It works best when all members contribute but does not collapse when one refuses to participate as another country can always replace the US for next year's presidency. Important initiatives are already moving ahead without the active involvement of the US. Should Trump ultimately decide not to attend the Leaders' Summit, the impact on the Summit itself will likely be minimal. The real cost will be to the US, which risks losing influence, credibility, and the ability to shape global decisions. The longer-term consequences of this approach could be even more significant. When the US withdraws from global leadership, it creates a vacuum that others are more than willing to fill. The G20 will proceed, consensus will be reached, and international initiatives will move forward. By not being at the table, the US risks being left behind, losing further influence, missing opportunities, and a diminished role in shaping global policies. In an interconnected world, isolationism is not a sign of strength but shortsightedness.
