The real Commander in Chief of South Africa President Cyril Ramaphosa.
President Cyril Ramaphosa has embarked on combating poverty during his opening first meeting of Group of 20 (G20) Finance Ministers and Central Bank Governors under South Africa’s Presidency.
This engagement took place at the Cape Town International Convention Centre. The G20 Finance Ministers and Central Bank Governors Meeting is hosted by 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.
President Ramaphosa highlighted the importance of G20 action on developing the world debt crisis. He also stressed that economic cooperation is the main focal point of the G20 Finance Ministers and Central Governors meeting.
Ramaphosa said this G20 finance meeting will highlight various priorities which are; action to assist in natural disasters and disaster prevention, debt sustainability for developing countries, mobilising finance for a just energy transition, harnessing critical minerals for inclusive growth of developing countries and debt Treatment.
“This meeting of G20 Finance Ministers and Central Bank Governors, like those that have come before, carries a weighty responsibility. It needs to forge consensus on the actions we must take collectively to build a global economy that is more resilient, more sustainable and more equal,” he said.
He called catastrophe formed by climate change, a form of disaster which is impacting the economy. Ramaphosa said most African leaders will confirm it is difficult to deal with natural disasters that are affecting the economy in different countries. He also said however that one of the greatest obstructions to growth, development and stability is the persistence of inequity within and among countries.
Ramaphosa said at 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,” he said.
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