Did SA Make Its Mark? How the G20 Finance Track Delivered for Africa
This article will count 0.25 units (15 minutes) of unverifiable CPD. Remember to log these units under your membership profile.
When South Africa took on the G20 Presidency in 2025, President Cyril Ramaphosa made a clear commitment to prioritise Africa. Over the past year, that promise turned into action through the G20 Finance Track, where South Africa successfully pushed Africa’s economic and financial concerns to the top of the global agenda. As the presidency concludes, we look at what was achieved and and how it shapes accountants and finance professionals working to grow African economies.
Africa at the Heart of Global Finance
During 2025 Africa became a central focus in the G20 Finance Track. Critical issues such as debt, infrastructure, access to capital, and financial inclusion were treated as shared global concerns rather than regional challenges. A major outcome was the adoption of the Africa Engagement Framework (AEF). This long-term plan will guide G20 support for Africa’s financial and economic development from 2026 to 2030.
Smarter Approaches to Debt
Debt relief remained a major concern. African countries like Zambia, Ghana, and Chad were highlighted as examples under the G20 Common Framework for debt treatment. South Africa encouraged more transparent and predictable approaches, and introduced new ideas like climate-linked debt clauses and development-based debt swaps.
Note: If you advise governments, public sector clients, or donor-funded programmes may find growing demand for debt management support, public finance analysis, and fiscal reporting.
Infrastructure That Connects
The Ubuntu Legacy Initiative was launched to accelerate cross-border infrastructure development across Africa. In addition, a toolkit developed with the African Development Bank offers step-by-step guidance for managing infrastructure projects effectively.
Note: Infrastructure development often needs strong financial oversight, risk management, and compliance support. This can open up new advisory and audit opportunities for accountants.
Moving from Aid to Investment
The Africa Expert Panel, led by Trevor Manuel, challenged outdated models of donor support. Their call was clear: Africa needs long-term investment, not short-term aid. Their Plan for Action focuses on unlocking local potential through better infrastructure, energy systems, skills development, and financial partnerships.
Note: As investor interest in Africa grows, accountants will be critical in building investor confidence, guiding responsible finance, and ensuring transparent reporting.
Action on Health, Climate, and Tax
Africa’s real risks were taken seriously. In health, pandemic funding models were tested through simulations. In climate finance, efforts focused on making green investment more accessible, and in tax, there was strong emphasis on helping African countries increase domestic revenue through better tax systems and administration.
Note: Accountants working on ESG, risk analysis, or tax strategy will need to adapt to these evolving areas of responsibility.
A Lasting Legacy
The Africa Engagement Framework is a blueprint for long-term impact. It supports African countries in improving governance, accessing affordable finance, building regional infrastructure, and strengthening partnerships with global financial institutions. South Africa will continue supporting the AEF through to 2030, working with the African Union and development partners to ensure it delivers results.
South Africa’s G20 Presidency was more than a leadership term. It was a turning point in how Africa engages with global finance. For accountants across the continent, this means greater visibility, more influence, and expanded opportunities to shape Africa’s financial future.
Read more in the Media Statement issued by National Treasury.
