(3 Minutes Read)
Alongside the G20, business groupings host the private sector forum which is called the B20. Last week, business leaders in South Africa held a meeting with the leaders of Brazil’s B20 initiative to ensure we can pick up the baton following their hosting of the summit.
South Africa will be chairing the G20, a group of the biggest economies in the world (19 countries, the European Union, and the African Union), that works together to support economic growth and policy coordination.
South Africa chaired the G20 once before, in 2007 with Trevor Manual leading it, but it did not then host the annual summit. That time was, though, a relatively high point for South Africa’s economic performance, with the economy growing over 5% and a fiscal surplus.
Brazil is hosting this year’s summit in November, which will mark the conclusion of several different working groups and task forces ranging from women’s empowerment to energy transition. Several international cooperation agreements are likely to be signed at the summit, reflecting the work done.
Alongside the G20, business groupings host the private sector forum which is called the B20. Last week, business leaders in South Africa held a meeting with the leaders of Brazil’s B20 initiative to ensure we can pick up the baton following their hosting of the summit.
They shared their experience of hosting and the journey they have been on. The B20 is hosted a month before the main G20 meeting and connects the business community with the G20 governments. It has been discussing urgent and important topics since the beginning of the year ranging from trade and investment to employment and education.
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Business Leadership SA (BLSA) and Business Unity SA (Busa) will be leading the charge to ensure we host a successful event during South Africa’s chairing of the G20. It is an opportunity to cement the narrative of South Africa as an emerging success story where we are resolving our challenges and finally delivering growth.
