Nicola Mawson
Gauteng Premier Panyaza Lesufi has announced that the G20 Summit will be hosted in the province, South Africa’s business hub and wealthiest region.
South Africa is the first African country to lead the G20 as president and will assume this role from December 1 through to November 2025.
The announcement was made by the Premier at The European House Ambrosetti (TEHA) CEO Dialogue, the 11th edition, at Summer Place near Sandton today.
Addressing delegates, Lesufi said: “two days ago, I received a very important letter from the president of our country, Cyril Ramaphosa, officially notifying us as the Gauteng government that the next G20 head of government summit will be held in our province in Johannesburg. This is a positive outcome and a platform to showcase what we can do.”
In response to the news that the region will host the Summit, the Gauteng Provincial Government welcomed Cabinet’s decision. This follows a recommendation by an inter-ministerial committee that is responsible for organising the G20 Summit.
During the session, TEHA Africa CEO, Pietro Mininni, reiterated the European think tank’s commitment to South Africa as the gateway to business in Africa, stating that the international community stood ready to assist in investing in the railway link between Johannesburg and Durban.
Lesufi said that this commitment should be extended to the international community assisting the province in running a rail link between Johannesburg and Limpopo province, which will aid shipping items between South Africa and Mozambique as well as Zimbabwe.
Mininni also said that the organisation, which aims to fast-track growth strategies across the continent, was committed to helping South Africa grow as the “beacon for the African continent”.
TEHA has an annual Global Attractiveness Index Africa, the first such research designed to measure investment viability on the continent, which found that South Africa was the most investment-friendly country. It was based on 10 million data points to measure 55 data points.
Mininni told Business Report ahead of the dialogue that South Africa was the most attractive investment target in Africa.
“South Africa is the best investment destination in the African continent. Africa is not the future, is rather the present. So, every company should be in Africa, every company should be in South Africa,” he said.
Mininni added that key areas in which international companies could be interested in included automotive manufacturing as part of the value chain, renewable energy, logistics, consumer goods, as well as in the food and agri-processing sectors.
He noted that there had been important investments in logistics and renewable energy but was unable to disclose a value. However, since TEHA started working with South Africa a decade ago, foreign direct investments inflows from Italy had tripled, the conference delegates heard.
Mininni added that it was vital to first get the basics, such as reliable electricity and logistics, right so that any manufacturing output could be exported, be it internationally or across the continent in terms of the African Continental Free Trade Area agreement.
“International companies are ready to work here, in South Africa,” he said.
Mininni called on local banks and funding institutions to find innovative ways to find small businesses, which account for about 40% of GDP as well as about 60% of all jobs.
“In my view, banks should play a much more active role to support SMMEs,” he said, as this would be key to economic growth.
BUSINESS REPORT
