G20’s Africa Engagement Framework seeks to cut cost of capital
Norwegian Ambassador to South Africa, Gjermund Saether, says the G20 hosts should be congratulated for adopting the Africa Engagement Framework.
The framework prioritises African fiscal and macroeconomic challenges, improving institutional governance, reducing the continent’s high cost of capital, and enhancing private sector finance.
Saether adds that considering what South Africa has achieved since taking over the G20 presidency in December 2024, Oslo has even more reason to increase its investment in Pretoria and across the African continent.
The two G20 Leaders Summit ends later on Sunday, with a formal handover to the US not likely to happen.
The G20 leaders broke with tradition and adopted a declaration at the start of their summit on Saturday, not at the end as expected. This is despite opposition from the United States.
Political analyst Dr Thelela Ngcetane-Vika says the European Union’s presence and support at the G20 Summit is significant, especially following US President Donald Trump’s decision not to attend.
She adds that the joint statement issued by President Cyril Ramaphosa, German Chancellor Friedrich Merz, and French President Emmanuel Macron lends credibility to the G20.
Ngcetane-Vika adds that China’s absence should not be a concern, as the country has sent high-level delegations and continues to show support for South Africa.
The Declaration sets out actions to address climate-related disasters and sovereign debt levels, among other issues.