In the world of today, no country can go it alone

Dear Fellow South African,

Last week, I led a South African delegation to the World Economic Forum (WEF) annual meeting in Davos, Switzerland. Every year in January thousands of leaders from government, business and other sectors gather in this town in the Alps to discuss the state of the global economy.

The South African delegation that arrived in Davos was upbeat, confident that we are overcoming the challenges that we face. Our democracy is thriving. Our energy challenges are now a story of opportunity.

This year, South Africa was invited to present its priorities for its G20 Presidency. In a plenary address and in a separate discussion with business leaders, we outlined our theme for the G20 this year – Solidary, Equality, Sustainable Development – and the focus areas through which we will give meaning to this theme.

We made the point that it is in the interests of all countries, large and small, wealthy and poor, to reduce global inequality. That is why one of our priorities is ensuring debt sustainability for low-income countries. By freeing up funds for debt relief in these countries, they will be in a better position to invest in infrastructure, industrial development, education, health care and other forms of development.

Another focus area, which both reduces poverty and promotes sustainability, is the mobilisation of finance for a just energy transition. Through this, developing economy countries will be able to pursue a low-carbon development path while protecting the interests of affected workers, businesses and communities. Related to this is another focus area: the mobilisation of special financing and insurance to enable vulnerable countries to rebuild after being struck by natural disasters.

The fourth focus area is to harness critical minerals, which are abundant in Africa and other countries of the Global South, to promote inclusive growth and development. We are proposed a G20 framework on ‘green’ industrialisation so that countries endowed with these resources must be the ones that benefit most.

We stressed that our themes and priorities are underpinned by the principle of cooperation. Throughout history, human progress has been possible only through collaboration among peoples and countries. We therefore renewed our call for the resolution of global challenges through multilateral actions. We called for inclusive solutions that recognise that the world is more interconnected than ever before.

Cooperation is vital if we are to overcome the existential threat of climate change. Carbon emissions into the atmosphere, global warming and the extreme weather events that it causes do not recognise national boundaries or political systems. Although the poor are most vulnerable, the effects of climate change threaten everyone.

As we saw during the Covid pandemic, the same is true of pandemics and other health emergencies. Conflict in one part of the world impacts on countries in other parts of the world. Trade wars, especially between large economies, weakens the global economy and holds back inclusive growth and development for all.

In the world of today, no country can go it alone. No country can sustain its growth, stability and development without working together with other countries to overcome common problems.

South Africa’s message resonated with the participants in Davos. It was a sentiment shared by many of the business leaders with whom we interacted, as well as with other heads of state and multilateral institutions.

Many of the people we spoke to endorsed South Africa’s G20 priorities. They saw the value of our focus on Africa and the interests of countries with developing economies. They appreciated the importance of reducing inequality within and between countries and the need for new growth paths that are climate-friendly sustainable.

We also noticed a much improved sentiment towards South Africa and the prospects for our economy in the years ahead. They commented on the successful transition from the 6^th to the 7^th administrations and the formation of the Government of National Unity. They saw this as a sign of stability and a common commitment among parties to inclusive growth, employment and a capable state. They welcomed the far-reaching reforms that are underway in areas such as energy, logistics, telecommunications and water to grow and transform our economy.

The South African delegation left Davos with a sense that there are many leaders in the world that share our vision of an inclusive, just and equal world. And that they are prepared and willing to work with us through our G20 Presidency towards the achievement of such a world.

With best regards,