South Africa is set to demonstrate the power of its Government-Business Partnership as a global model for collaboration during its hosting of the G20 and B20 summits this year.
President Cyril Ramaphosa emphasised this ambition at a partnership meeting on Thursday, highlighting the importance of reforms to drive economic growth, create jobs and restore confidence.
The G20 is a global forum of major economies addressing international economic issues, while the B20 serves as its business dialogue arm.
South Africa holds the G20 presidency from December 2024 to November 2025, hosting the G20 Summit on November 22–23, and the B20 Summit earlier that month.
“This is our chance to show the world how government and business, working together, can drive inclusive economic growth,” Ramaphosa said.
He pointed to progress made in Phase 1 of the partnership, including the Electricity Regulation Amendment Act and Transnet’s Network Statement, which he called “notable examples of how we are creating a framework for success”.
The focus for 2025 is accelerating reforms in energy, transport, crime prevention and addressing youth unemployment.
Ramaphosa described the task ahead as urgent and achievable: “To reach 3% economic growth, we must stay purpose-driven and focused. This requires extraordinary effort from all stakeholders, not just this partnership.”
South Africa’s current economic growth rate remains below the required threshold to significantly reduce unemployment.
The partnership acknowledges that more robust measures are needed to attract investment and foster growth. “There is much progress to build on, but we have to accelerate implementation.
Together, we are moving ever closer to the promise of a thriving and inclusive economy that meets the needs of all our people.”
While the plan presents an optimistic vision, it lacks critical details. There are no measurable targets for job creation or timelines for reforms.
Furthermore, the roles of business in funding and implementing these initiatives remain unclear, and mechanisms to ensure accountability and transparency are not mentioned.
