A member of the media personnel attending the Group of 20 (G20) foreign ministers meeting held at the Nasrec Expo Centre, stands infront of a screen displaying the logo of G20 foreign meeting.Picture: Itumeleng English/ Independent Newspapers
While the country is hosting the Group of Twenty (G20) summit this year, the Western Cape and Cape Town will in turn host the Business 20 (B20) – the official G20 dialogue forum for the domestic and international business communities from Monday to Tuesday this week.
This will mark the first time that the event will be hosted on the African continent.
Established in 2010, the B20 is one of the most influential G20 engagement groups, bringing together business leaders from G20 member countries and beyond.
Each year, the B20 provides a platform for companies and business organisations to articulate their perspectives on pressing global economic and trade issues, ensuring that the voice of the business community is heard at the highest levels of international economic governance.
The summit’s priority areas include trade and investment, infrastructure development, education, and climate change.
This year’s event will explore the theme of “Inclusive Growth and Prosperity through Global Cooperation”.
The conference will include a keynote address by Børge Brende, President and CEO of the World Economic Forum and separate addresses by Susan M Lund, Vice President Economics and Private Sector Development, International Finance Corporation, and Strive Masiyiwa, Founder & Executive Chairman, Econet Group.
Topics that the conference will cover include ‘Reflection on G20/B20 impact on host nations’, ‘Mobilising B20 SA objectives through Task Forces’, and ‘Geopolitics, macroeconomics, and the road ahead – a path to stability?’.
Some of the local officials and businessmen in attendance include Department of Trade, Industry and Competition’s Minister Parks Tau, and other companies such as Toyota SA and Deloitte Africa.
B20 Co-chair, Mxolisi Mgojo, said: “We are proud to take the helm of the B20, embracing this role as a call to action to deliver measurable outcomes and build on the momentum of the recent Global South presidencies. Our vision for the B20 is to be a catalyst for collaboration and innovation, first between the global business community and the world’s policymakers, and then between the Global South and the North.”
His fellow co-chair, Nonkululeko Nyembezi said: “Our theme reflects a commitment to fostering innovation, unlocking investment, and building resilient economies that benefit all. This is a unique opportunity to shape the global agenda, amplify Africa’s voice in business leadership, and create partnerships that deliver real impact.
“We invite the global business community to join us in this exciting journey to turn vision into action and ambition into achievement,” Nyembezi said.
Premier Alan Winde said that the Western Cape and Cape Town are looking forward to welcoming the world, and that the event is an important milestone for our province, country, and continent.
“It is a huge honour for us all to showcase the region to the world. We did this so well this last holiday season and again with the recent Mining Indaba and other major events. Now it is our opportunity to host the B20. Let us all put our best foot forward and send delegates home as marketers of Cape Town and the Western Cape.
“The B20 serves as an important networking platform for local companies and businesses to link up with international counterparts, who are eager to join us in exploring ways in which to take our economic growth and job creation forward,” said Winde.
“We have a vital opportunity to showcase our economic successes, further highlight the region as an investment destination of choice, build on our achievements together with global partners, and deepen international ties to tackle critical issues.
“The issues that will be discussed at the B20 can influence the G20 and so we will ensure our voice is heard,” stated Winde.
More than 100 meetings around the G20 will be held through the course of 2025; 40 of these are planned to take place in the Western Cape.
“The Western Cape is ready to host even more meetings and gatherings linked to the G20 if need be. We must maximise the hosting of these events to enhance our global standing.”
Premier Winde stressed the importance of leveraging all international events being hosted in the Western Cape as an opportunity to highlight this province as an investment destination of choice.
“If we are to keep growing our economy to support businesses creating even more job opportunities, we must take advantage of all these events and the opportunities that they create for our residents.”
theolin.tembo@inl.co.za
Related Topics: