South Africa has assumed the presidency of intergovernmental forum Group of 20 (G20) and its private sector engagement group Business 20 (B20). B20 South Africa will focus on unifying efforts across diverse economies.

The B20 South Africa opening event will take place on February 24 to 25 in Cape Town under the central theme “Inclusive Growth and Prosperity through Global Cooperation”.

Business Unity South Africa (Busa) will represent South Africa’s private sector in the B20 and will lead B20 South Africa in 2025.

The B20 Summit serves as a platform for businesses to connect, collaborate and forge partnerships that drive economic growth worldwide, with task forces deliberating on policy recommendations.

The B20 will develop recommendations through task forces comprising business leaders from all G20 nations. Eight task forces will address various mandates in matters such as enhancing trade, advancing infrastructure development, navigating sustainable energy transitions and enhancing food security.

South Africa's presidency of the G20 offers an opportunity for nations to collaborate on shared challenges, such as climate change, global health, food security and sustainable development, as well as providing the country the opportunity to advocate for Africa and contribute meaningfully to global decision-making, Busa said in a statement.

Representatives from South Africa’s business community who will play leading roles in B20 South Africa include B20 co-chairs Mxolisi Mgojo and Nonkululeko Nyembezi, B20 Sherpa Cas Coovadia, B20 Head of Secretariat Anthony Costa, and B20 Local Advisory Council chairperson Busi Mavuso.

“Our vision for the B20 is to be a catalyst for cooperation and innovation between the business community in the Global South and North. Business has been an accelerator of growth and innovation and continues to advance inclusive global economies.

“This presidency is a call to action for Africa to champion equitable solutions for global challenges,” said Mgojo.

Additionally, Mgojo and Nyembezi will chair the International Business Advocacy Caucus where global business leaders advise on and advocate for the B20 policy proposals.