Sa's G20 Presidency: A Catalyst For Africa's Development

The world is at a critical juncture, facing unprecedented global uncertainty, flux, and polycrises. Climate change, inflation, escalating debt vulnerabilities, unwinding multilateralism, protectionism, and rising global tensions are converging to threaten global stability.

Amid this chaos, SAs G20 presidency offers an opportunity to shape the global agenda and secure commitments from powerful economies to address common critical issues with differentiated impacts, which unfairly affect developing nations.

Africa is particularly vulnerable to these global shocks. Persistent inflation, unsustainable debt, and currency depreciations are compounded by conflicts such as the ones in the Democratic Republic of the Congo and Sudan, raising concern about regional instability. More than a third of African countries are in debt distress or at high risk thereof, with continental inflation rates averaging 13.9 last year.

Climate change remains an existential threat, with Africa bearing the brunt of extreme weather events despite its limited contribution to greenhouse gas emissions. The imposition of carbon taxes will amplify debt vulnerabilities, while the absence of a uniform price of carbon and low returns on carbon offset projects in developing countries undermine efforts to transition to sustainable energy sources.

Unfulfilled promises and empty COP pledges undermine commitment to global solidarity. The option of short-term gains threatens human existence and defeats the principles of a purposeful life: solidarity for a sustainable future.