Zürcher Nachrichten - Five things to know about the first G20 held in Africa

EUR -
AED 4.223936
AFN 72.459626
ALL 95.625923
AMD 433.015565
ANG 2.058868
AOA 1054.6893
ARS 1573.442377
AUD 1.671004
AWG 2.073149
AZN 1.957174
BAM 1.949
BBD 2.31292
BDT 140.907151
BGN 1.965965
BHD 0.433612
BIF 3411.091117
BMD 1.150152
BND 1.475761
BOB 7.953251
BRL 6.066823
BSD 1.148339
BTN 108.22499
BWP 15.790486
BYN 3.448588
BYR 22542.981659
BZD 2.309631
CAD 1.595226
CDF 2628.673947
CHF 0.917781
CLF 0.027129
CLP 1071.20497
CNY 7.949219
CNH 7.961301
COP 4243.440261
CRC 532.405408
CUC 1.150152
CUP 30.479031
CVE 109.886384
CZK 24.543729
DJF 204.496733
DKK 7.471395
DOP 69.233629
DZD 153.151704
EGP 60.730105
ERN 17.252282
ETB 177.477381
FJD 2.596354
FKP 0.861536
GBP 0.866352
GEL 3.099699
GGP 0.861536
GHS 12.555521
GIP 0.861536
GMD 84.537027
GNF 10067.175447
GTQ 8.785881
GYD 240.259646
HKD 9.009154
HNL 30.492755
HRK 7.529588
HTG 150.386802
HUF 390.636538
IDR 19530.733242
ILS 3.626901
IMP 0.861536
INR 108.962994
IQD 1504.398841
IRR 1510494.78673
ISK 143.400945
JEP 0.861536
JMD 180.479324
JOD 0.815453
JPY 183.863271
KES 149.39231
KGS 100.581391
KHR 4598.695285
KMF 491.115256
KPW 1035.238473
KRW 1738.77706
KWD 0.354177
KYD 0.957028
KZT 553.221334
LAK 24803.949548
LBP 102835.542724
LKR 361.157941
LRD 210.747529
LSL 19.64576
LTL 3.3961
LVL 0.695715
LYD 7.333064
MAD 10.72219
MDL 20.170398
MGA 4786.031084
MKD 61.591028
MMK 2418.239118
MNT 4117.532138
MOP 9.253891
MRU 45.806993
MUR 53.792604
MVR 17.781399
MWK 1991.240041
MXN 20.757992
MYR 4.615582
MZN 73.506528
NAD 19.64559
NGN 1590.925147
NIO 42.259434
NOK 11.177719
NPR 173.13788
NZD 1.999338
OMR 0.442229
PAB 1.148393
PEN 3.974399
PGK 4.962341
PHP 69.616981
PKR 320.584138
PLN 4.287508
PYG 7517.412308
QAR 4.187644
RON 5.097707
RSD 117.436278
RUB 93.944831
RWF 1676.954344
SAR 4.316005
SBD 9.249494
SCR 15.489295
SDG 691.241518
SEK 10.8734
SGD 1.481515
SHP 0.862912
SLE 28.23633
SLL 24118.127446
SOS 656.270335
SRD 43.202003
STD 23805.826849
STN 24.413125
SVC 10.048591
SYP 127.12204
SZL 19.643428
THB 37.852681
TJS 10.991021
TMT 4.037034
TND 3.379315
TOP 2.76929
TRY 51.134901
TTD 7.794399
TWD 36.818899
TZS 2963.351973
UAH 50.389743
UGX 4272.205731
USD 1.150152
UYU 46.560385
UZS 13988.074066
VES 535.99176
VND 30292.131604
VUV 137.681472
WST 3.168478
XAF 653.639515
XAG 0.017026
XAU 0.00026
XCD 3.108344
XCG 2.069707
XDR 0.812918
XOF 653.645178
XPF 119.331742
YER 274.483923
ZAR 19.79199
ZMK 10352.747435
ZMW 21.560744
ZWL 370.348515
  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSC

    -0.0900

    22.82

    -0.39%

  • BCC

    -0.3600

    74.29

    -0.48%

  • RYCEF

    -0.8200

    15.24

    -5.38%

  • CMSD

    0.0700

    22.75

    +0.31%

  • NGG

    -1.8900

    82.4

    -2.29%

  • RIO

    -1.7500

    85.79

    -2.04%

  • BCE

    -0.0200

    25.47

    -0.08%

  • RELX

    -0.4000

    32.07

    -1.25%

  • VOD

    -0.0900

    14.63

    -0.62%

  • GSK

    -0.7600

    53.94

    -1.41%

  • JRI

    -0.0300

    12.07

    -0.25%

  • AZN

    -3.7400

    183.4

    -2.04%

  • BP

    0.7600

    46.17

    +1.65%

  • BTI

    -0.1900

    58.26

    -0.33%

Five things to know about the first G20 held in Africa
Five things to know about the first G20 held in Africa / Photo: PHILL MAGAKOE - AFP

Five things to know about the first G20 held in Africa

Leaders of the world's largest economies meet in Johannesburg on November 22 and 23 for the G20 summit, being held for the first time in Africa.

Text size:

Here are five things to know about the annual meeting, which is taking place at a time of heightened global instability and tensions between Pretoria and Washington.

- First in Africa -

Founded in 1999, the Group of 20 (G20) leading economies comprises 19 countries and two regional bodies -- the European Union and the African Union (AU).

With its rotating presidency held by South Africa this year, the summit will be in Africa for the first time.

G20 members represent 85 percent of the world's GDP and about two-thirds of its population.

South Africa is the only member state from the continent, although the AU was admitted as a group in 2023.

- 'Solidarity, Equality, Sustainability' -

Pretoria lists its priorities for its G20 presidency as strengthening disaster resilience, debt sustainability for low-income countries, financing a "just energy transition", and harnessing "critical minerals for inclusive growth and sustainable development".

Its theme is "Solidarity, Equality, Sustainability".

South Africa, ranked by the World Bank as the world's most unequal country, commissioned an expert team to analyse global wealth inequality and offer solutions to the summit.

The team, led by Nobel Prize-winning economist Joseph Stiglitz, called for the creation of an intergovernmental panel to tackle the "inequality emergency" that leaves 2.3 billion people hungry worldwide.

- US boycott -

US President Donald Trump said this month no US officials would attend the summit, and called South Africa's presidency a "total disgrace".

Trump has singled out South Africa for harsh treatment on a number of issues since he returned to the White House in January, notably making false claims of a "white genocide", and slapped it with 30 percent tariffs, the highest in sub-Saharan Africa.

A US boycott could undermine South Africa's agenda -- but Pretoria said it was still looking forward to a "successful" summit.

- Johannesburg in the spotlight -

The G20 leaders' meeting will be hosted at the Nasrec Expo Centre, South Africa's largest purpose-built conference venue.

Situated on the edge of the iconic Soweto township and chosen as a symbol of post-apartheid "spatial integration", the venue hosts large-scale events such as the ruling African National Congress annual congress.

The event has brought attention to the plight of the city that was formed in a gold rush in the late 1880s and is now home to around six million people, according to official July estimates.

Home to Africa's richest square mile, Johannesburg is also scarred by crumbling infrastructure, lack of services and chronic mismanagement.

President Cyril Ramaphosa lashed out at the disrepair in March and demanded improvements. The African Development Bank in July approved a $139 million loan for upgrades.

- End of a 'Global South' run -

South Africa will hand the G20 to the United States, marking the end of a cycle of "Global South" presidencies following those of Brazil, India and Indonesia.

Trump has said he planned to radically reduce the platform, which has over the years expanded to include multiple working groups and social issues beyond its original financial scope.

The US president has also questioned whether South Africa should "even be in the Gs any more", raising questions about the G20's future.

W.F.Portman--NZN