By Boitumelo Mosako – CEO, Development Bank of Southern Africa
As South Africa assumes the G20 presidency, it steps into the global spotlight as a champion for Africa’s limitless potential. This pivotal moment offers an unparalleled opportunity to align the continent’s transformative aspirations with the G20’s priority themes: strengthen disaster resilience and response, debt sustainability, mobilise finance for a just energy transition, harness critical minerals. It also enables South Africa to leverage its membership in the G20 which represents 85% of global GDP, 75% of international trade, and two-thirds of the world’s population to amplify Africa’s voice on the global stage.
The significance of G20 membership for South Africa and the region cannot be overstated. As Africa’s only permanent member, South Africa has the responsibility of advocating for the continent’s collective interests, such as debt relief, access to climate finance, and infrastructure investment. Moreover, the G20 presidency provides a unique platform to unlock regional economic benefits. For example, G20 member nations accounted on average for over 60% of foreign direct investment (FDI) into Africa in the last decade, and by championing trade and investment agreements, South Africa can catalyse even greater inflows into the region.
The Development Bank of southern Africa’s (DBSA) active participation in the Business 20 (B20), the G20’s official dialogue forum with the global business community, further underscores its commitment to fostering economic growth and sustainable development. The DBSA ensures that the private sector remains a critical partner in realising Africa’s development goals through contributing to policy recommendations on infrastructure development, energy transitions, and financial inclusion. The B20’s influence is evident in its ability to connect businesses to high-growth opportunities; for instance, in 2022 alone, B20 initiatives facilitated $15 billion in global investment partnerships.
Africa’s promise is unmatched. With 70% of its population under the age of 35, the continent boasts one of the world’s youngest and most dynamic workforces. This youthful energy, coupled with an expanding middle class, is shaping a robust consumer market and cultivating an environment ripe for industrialisation, entrepreneurship, and technological progress.
An infrastructure revolution is propelling Africa’s growth momentum. Projects such as South Africa’s Mtentu Bridge, poised to become Africa’s tallest, and the $10 billion Lobito Corridor, backed by $784 million in committed funds, are redefining regional connectivity and trade. Digitalisation is also surging ahead, with innovations like Kenya’s M-Pesa leading the charge in financial inclusion, and Ethiopia’s ambitious infrastructure programmes and expanding fibre networks transforming connectivity and development.
The Finance Track, a cornerstone of South Africa’s G20 presidency, is critical in accelerating these advancements. By leveraging platforms for international financial cooperation, South Africa aims to unlock financing solutions for priority areas such as renewable energy, resilient infrastructure, and regional integration. South Africa’s leadership in this track has the potential to unlock billions in investment while advancing innovative instruments like green bonds and blended finance.
Beyond finance, South Africa’s role as a major gateway to the continent extends beyond infrastructure. Its iconic landscapes, rich cultural heritage, and world-class tourism infrastructure position it as a hub for international travellers and investors alike, amplifying Africa’s appeal as a global tourism destination. The World Bank estimates that a 10% increase in tourism could contribute an additional $2.5 billion annually to Africa’s GDP, further solidifying the region’s economic potential.
The DBSA is honoured to be a catalyst in this transformative journey. As a trusted development finance institution, we address funding gaps, support high-impact initiatives, and foster partnerships that unlock Africa’s true potential. Initiatives like the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) have attracted over R209 billion in investment, advancing energy security and climate resilience. Together with international and multilateral development banks such as AFD, Afreximbank, Africa50, and the African Development Bank, we actively participate in regional projects like the North-South Corridor and Trans Africa Highway network, critical integration trade routes driving inclusive economic growth.
Africa’s future has never looked brighter. With South Africa’s G20 presidency marking a new era of promise and opportunity, this is the time for global investors to forge partnerships and shape Africa’s destiny, a future defined by innovation, resilience, and shared prosperity. This is an extraordinary moment to transform Africa into a global epicentre of economic progress. Together, we can create a legacy of sustainable growth that benefits not only the continent but the entire world for generations to come.
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About the Development Bank of Southern Africa
The Development Bank of Southern Africa (DBSA) is a leading Development Finance Institution (DFI), wholly owned by the government of South Africa. Established in 1983, the DBSA is mandated to promote economic growth and regional integration by mobilising financial and other resources from national and international private and public sectors for sustainable development projects and programmes in South Africa, SADC, and the wider African continent. www.dbsa.org