South Africa is set to host the Finance in Common Summit (FiCS) in February, marking a transformative milestone in the continent’s development finance narrative.

This historic occasion coincides with South Africa’s assumption of the Presidency of the Group of 20 (G20), amid a period of significant political change and growing economic confidence.

FiCS 2025, to be held from February 26 to 28, in Cape Town, will bring together high-level delegations from across the continent, as well as international partners and stakeholders, to promote sustainable finance, debt reform and inclusive growth.

The summit will highlight Africa-specific challenges, such as infrastructure deficits, while promoting inclusive financial partnerships among global partners. The African Development Bank estimates a yearly requirement of $130-billion to $170-billion for infrastructure development on the continent, with a funding shortfall of about $100-billion.

“This stark reality highlights the critical role of development finance for both South Africa and Africa,” State-owned Development Bank of South Africa (DBSA) CEO Boitumelo Mosako says.

This summit marks a decade since key global agreements such as the Addis Ababa Action Agenda, the United Nations’ Sustainable Development Goals (SDGs) 2030 Agenda, and the Paris Agreement on climate change.

The DBSA is one of the G20’s recognised development banks, dedicated to infrastructure and development finance across Africa.

“The summit will sharpen focus on reconfiguring international financial systems to address pivotal challenges such as climate change, sustainable development, and the requirement to address infrastructure gaps,” Mosako says.

The FiCS theme of ‘fostering infrastructure and finance for just and sustainable growth’ is aligned with the G20 theme of ‘solidarity, equality, sustainability’. Branded as the ‘summit of solutions’, FiCS 2025 aspires to deliver actionable responses for steering financial systems towards sustainability.

In addition to the DBSA, other co-hosts include the Asian Infrastructure Investment Bank, a multilateral development bank established in 2016 with a focus on infrastructure and other sectors to promote sustainable economic development in Asia; and the Agence Française de Développement, or AFD, a public international financial institution established in 1941, that contributes to social and economic development through sustainable and inclusive growth.

“The presence of these international partners underscores the shared commitment to revolutionising development finance. Their involvement reflects the feasibility and necessity of inclusive financial mechanisms to confront Africa’s pressing challenges,” Mosako says.

“I eagerly anticipate the rigorous dialogues that will define this summit, generating pragmatic solutions for Africa’s development. This moment represents a watershed in the history of development finance for the continent,” he adds.