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

EUR -
AED 4.099737
AFN 73.678285
ALL 91.347673
AMD 404.395849
ANG 1.998644
AOA 1023.677316
ARS 1712.480098
AUD 1.610208
AWG 2.01219
AZN 1.896675
BAM 1.941829
BBD 2.246746
BDT 137.143269
BGN 1.879281
BHD 0.420493
BIF 3365.31705
BMD 1.116333
BND 1.427641
BOB 13.402868
BRL 5.830484
BSD 1.115529
BTN 108.068908
BWP 15.42187
BYN 3.359991
BYR 21880.128814
BZD 2.243469
CAD 1.595173
CDF 2578.729219
CHF 0.92794
CLF 0.027693
CLP 1093.459542
CNY 7.484511
CNH 7.49515
COP 3685.060225
CRC 511.145258
CUC 1.116333
CUP 26.771104
CVE 109.480243
CZK 24.428711
DJF 198.640589
DKK 7.474319
DOP 66.603776
DZD 149.503038
EGP 58.593758
ERN 16.744997
ETB 182.199852
FJD 2.508679
FKP 0.843125
GBP 0.846253
GEL 2.90807
GGP 0.843125
GHS 13.101091
GIP 0.843125
GMD 82.040664
GNF 9812.837198
GTQ 8.52478
GYD 233.337433
HKD 8.759932
HNL 29.948863
HRK 7.521408
HTG 146.076194
HUF 368.857111
IDR 20024.783197
ILS 3.407417
IMP 0.843125
INR 107.406371
IQD 1461.325193
IRR 1949719.860455
ISK 137.190729
JEP 0.843125
JMD 176.599667
JOD 0.791425
JPY 176.433653
KES 143.114991
KGS 97.62296
KHR 4524.668418
KMF 488.953586
KPW 1004.700147
KRW 1503.550006
KWD 0.344757
KYD 0.929537
KZT 501.187478
LAK 25056.395274
LBP 99893.399271
LKR 368.895748
LRD 190.740208
LSL 18.651208
LTL 3.296241
LVL 0.675259
LYD 7.143952
MAD 11.08256
MDL 19.934555
MGA 4928.802702
MKD 61.141735
MMK 2344.132245
MNT 4014.637647
MOP 9.016271
MRU 44.576275
MUR 53.740446
MVR 17.258381
MWK 1934.286975
MXN 20.335247
MYR 4.563684
MZN 71.332788
NAD 18.651208
NGN 1481.876204
NIO 41.046513
NOK 10.803627
NPR 172.915635
NZD 1.999001
OMR 0.428975
PAB 1.115499
PEN 3.865591
PGK 5.051879
PHP 70.028682
PKR 308.968114
PLN 4.387451
PYG 6526.365046
QAR 4.066
RON 5.342798
RSD 116.643894
RUB 93.754489
RWF 1652.109446
SAR 4.182085
SBD 9.017819
SCR 15.35928
SDG 671.469913
SEK 11.280563
SGD 1.431334
SHP 0.842865
SLE 27.458333
SLL 23408.937934
SOS 637.550018
SRD 42.210228
STD 23105.841359
STN 24.326066
SVC 9.76004
SYP 14514.563286
SZL 18.647833
THB 37.546721
TJS 10.267862
TMT 3.907166
TND 3.323929
TOP 2.687862
TRY 54.883385
TTD 7.563783
TWD 35.474811
TZS 2935.195795
UAH 50.19366
UGX 4451.094469
USD 1.116333
UYU 44.956942
UZS 13156.692573
VES 966.161908
VND 29016.288173
VUV 133.493434
WST 3.113019
XAF 655.957
XAG 0.018315
XAU 0.000269797846
XCD 3.016947
XCG 2.010389
XDR 0.789305
XOF 655.957
XPF 119.331742
YER 263.790902
ZAR 18.655801
ZMK 10048.342262
ZMW 21.919372
ZWL 359.458804
SSP 6377.155025
MXV 2.300897
  • RBGPF

    0.0900

    65.09

    +0.14%

  • BTI

    0.2849

    52.64

    +0.54%

  • GSK

    -0.1500

    47.03

    -0.32%

  • VOD

    0.4400

    16.82

    +2.62%

  • NGG

    0.7900

    76.12

    +1.04%

  • RYCEF

    0.1200

    19.42

    +0.62%

  • AZN

    -0.8000

    156.9

    -0.51%

  • RIO

    1.3400

    94.21

    +1.42%

  • CMSC

    0.0800

    20.24

    +0.4%

  • RELX

    -0.0700

    33.42

    -0.21%

  • BCE

    -0.1900

    19.73

    -0.96%

  • BCC

    0.2900

    74.99

    +0.39%

  • JRI

    0.1300

    10.9

    +1.19%

  • BP

    0.2900

    44.79

    +0.65%

  • CMSD

    0.0900

    20.43

    +0.44%

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