Power Chat – Ferial Haffajee in conversation with Dirco Director-General Zane Dangor
In this episode of Power Chat, Daily Maverick's Ferial Haffajee talks with DIRCO's Director-General Zane Dangor about South Africa's role on the global stage. From the G20 summit to the ICJ case in The Hague, they explore the power of partnerships, South Africa's position as a middle power, and what's next for the country in international relations.
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IOL News
3 hours ago
- IOL News
How South Africa's G20 Presidency transforms infrastructure finance in Africa
President Cyril Ramaphosa said recently that his US counterpart Donald Trump, has agreed that the US should continue playing a key role in the G20. Image: Supplied/GCIS IN 2025, South Africa assumed the presidency of the G20, becoming the first sub-Saharan African nation to lead the world's most influential economic forum. This milestone comes at a critical juncture for both the global economy and the African continent. Against the backdrop of widening inequality, climate instability, and calls for more equitable global governance, South Africa's leadership offers an opportunity to reshape international economic priorities through a lens of inclusivity, resilience, and long-term development. Under the theme Solidarity, Equality, and Sustainability, South Africa has used its presidency to elevate issues that have long defined the Global South — access to infrastructure finance, food security, digital transformation, and institutional reform. With the G20 representing 85% of global gross domestic product (GDP), 75% of world trade, and two-thirds of the global population, this platform provides unparalleled leverage to influence how capital flows, how development is financed, and how emerging markets can take a more active role in setting the rules of the global economy. South Africa has set the tone for a presidency driven not by rhetoric but by results. The presidency includes chairing more than 200 meetings of ministers, officials, and international organisations such as the IMF and World Bank, culminating in a summit of Heads of State and Government. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ These engagements are already shaping discourse on sustainable economic recovery, digital infrastructure, climate resilience, and more equitable access to capital. South Africa has used its platform to champion the unique challenges faced by developing economies, particularly in Africa, while pushing for systemic reforms in global economic governance. One of the core priorities for South Africa's G20 presidency is expanding access to capital for infrastructure — a pressing concern not only for South Africa but across the African continent. Africa's infrastructure deficit, estimated at more than $100 billion (R1.8 trillion) a year, continues to hinder growth, integration, and competitiveness. Traditional funding models — reliant on sovereign debt or limited public resources — are insufficient to meet the scale of need. South Africa is advocating for blended finance structures that combine concessional funding from development institutions with private sector investment. These models help reduce investor risk while crowding in private capital for long-term infrastructure projects in transport, energy, water, and telecommunications. The G20 Infrastructure Working Group, under South Africa's chairship, is pushing for reforms that make such finance more accessible, transparent, and catalytic. A key focus has been on improving credit enhancement tools, lowering the cost of capital for African countries, and standardising project preparation processes to improve bankability. South Africa's National Treasury and development finance institutions are leading by example, offering replicable models in renewable energy and logistics. South Africa's ability to lead on financial innovation is underpinned by the strength of its own financial services sector. Recognised globally for its stability and sophistication, the South African banking system is one of the most advanced in emerging markets. Institutions such as Standard Bank, FirstRand, Absa, and Nedbank operate with robust capital buffers, strong governance, and active engagement in infrastructure finance across the continent. The Johannesburg Stock Exchange (JSE) remains Africa's most liquid capital market, while the country's insurance and pension sectors collectively manage more than R5trln in assets. Regulatory bodies such as the SA Reserve Bank (SARB) and Financial Sector Conduct Authority (FSCA) ensure prudential oversight in line with global standards. This mature financial ecosystem positions South Africa not only as a credible G20 partner but also as a financial gateway to Africa. As G20 president, it is championing mechanisms that allow institutional investors to participate more meaningfully in infrastructure development, unlocking a new asset class that delivers both economic and social returns. Another dimension of the G20 presidency's impact lies in the potential it holds for African entrepreneurship. Across the continent, entrepreneurs are building solutions in clean energy, mobility, fintech, agritech, and logistics — often filling gaps left by public infrastructure. Yet access to scale-up capital, exposure to global markets, and integration into value chains remain significant barriers. South Africa's G20 leadership is helping to reposition these innovators as central actors in development. The presidency has promoted inclusive procurement frameworks, G20-backed innovation hubs, and SME-focused financing tools that aim to reduce barriers to entry for African businesses. Through public-private dialogues and policy discussions, the G20, under South Africa's guidance, is highlighting how local entrepreneurs can be integral to infrastructure rollouts —from smart metering in cities to solar microgrids in rural communities. This signals a shift in how the global economy sees African enterprise, not as recipients of aid but as drivers of innovation, employment, and resilience. Agriculture, a lifeline for millions across the continent, is another central theme of South Africa's presidency. With shifting climate patterns and increased food insecurity, the G20 is being mobilised to focus on food systems that are both productive and climate-resilient. South Africa is drawing attention to the dual role its agricultural sector plays — as a food supplier to the region and a testbed for climate-smart technologies. Investments in irrigation, transport logistics, cold chains, and digital platforms for farmers are being showcased as scalable models. The presidency is calling for greater investment in regional food corridors and cross-border agricultural trade to bolster food security. Beyond finance and development, South Africa's G20 presidency is a call for structural reform. The current architecture of global economic governance — from the IMF to credit rating agencies — remains skewed toward the interests and assumptions of high-income countries. South Africa has been vocal in calling for a more balanced and inclusive system. Central to this is the push for IMF quota reform, enabling greater voice and vote for African countries. South Africa is also urging the G20 to examine how international institutions assess environmental and social impacts, particularly in the developing world. Reforms could include more localised frameworks, better representation in decision-making, and stronger mandates to support just transitions. The presidency is facilitating discussions on the division of responsibility between international organisations and member states, with the goal of ensuring that global policies better reflect local realities and development pathways. The benefits of hosting and leading the G20 are not limited to policy influence. They include tangible economic gains for South Africa itself: increased visibility to global investors, enhanced tourism and conferencing activity, and a sharpened diplomatic presence. Moreover, the presidency allows South Africa to spotlight its strategic industries —renewables, financial services, agritech, and manufacturing — and secure stronger bilateral and multilateral cooperation. It is also an opportunity to advance regional priorities such as the African Continental Free Trade Area (AfCFTA), digital integration, and cross-border infrastructure development.
TimesLIVE
4 hours ago
- TimesLIVE
Illicit financial flows are derailing Africa's future
Illicit financial flows (IFFs) continue to undermine the future of Africa, hampering the ability of governments to adequately fund education, healthcare and development projects essential for lifting people out of poverty and fostering sustainable economic growth. As business leaders, politicians, academics and citizens, we cannot sit back. We must help curb the illegal flow of money out of our country through a cohesive effort by all stakeholders, both local and international, to ensure safeguards are put in place, laws are harmonised, and all enforcement agencies work together to address the problem. At the same time, we must not do anything that will deter investment. Ahead of G20 summit in Johannesburg in November, as well precursor meetings — such as the G20 finance ministers' and central bank governors' meeting and the T20 midterm conference held this month — we must formulate proposals that integrate the perspectives of public and private sector institutions, nonprofit organisations, think-tanks and universities. Together we can make valuable policy recommendations, such as using AI to turn vast amounts of data into information for developing strategic interventions. Working alongside each other, we can identify gaps in current legal frameworks and areas where greater co-operation is required. We must seek ways to stem illicit money flows. When individuals or companies evade their tax obligations, deliberately falsify import or export documents, or misappropriate funds intended for development projects, they are not committing victimless crimes. These outflows not only weaken our reputation in the eyes of the international markets, but also make it harder for the government to raise capital at manageable interest rates. We already owe too much: the National Treasury predicts that debt on our national balance sheet will be 77% of GDP this year. IFFs directly undermine economic growth, costing the South African economy the equivalent of almost 5% of annual collected tax revenue — losses of about R92.5bn. On the African continent, the numbers are more alarming, with between $50bn (about R889bn) and $90bn stolen annually, according to the UN. A 2020 report from a UN conference on trade and development states that IFFs represent as much as 3.7% of Africa's GDP. This figure has almost certainly grown since then, given that those who break laws will keep doing so if they are not held accountable. We recently convened a G20 multi-stakeholder dialogue to better understand this challenge, quantify its impact, assess current solutions, and identify new ones . One of our speakers, deputy minister of international relations and co-operation Alvin Botes, spelt out what this theft means: countries with high IFFs spend at least 25% less on healthcare and 50% less on education compared with their peers. IFFs wipe out any good the $65bn in aid Africa receives each year might do. They reduce progress made in making people's lives better. There are initiatives under way to address IFFs. For example, the Financial Action Task Force (FATF) collaborates with the UN to strengthen countries' financial systems and prevent illicit outflows. While South Africa's inclusion on the FATF's grey list is viewed by some as an embarrassment, it enables us to strengthen our legal and regulatory frameworks, as well as enhance our anti-money-laundering capabilities. While South Africa's inclusion on the FATF's grey list is viewed by some as an embarrassment, it enables us to strengthen our legal and regulatory frameworks, as well as enhance our anti-money-laundering capabilities. We are also seeing prosecutions of high-level fraudsters, especially those who use dubious accounting methods to move money around and avoid paying their fair share of taxes. It is gratifying to see that action has been taken in this regard. Other UN entities have developed discussion platforms and measurement systems. There are 10 asset-recovery inter-agency networks that have 178 member countries, allowing illicit money flows to be traced across borders. In addition, Interpol supports national and international law enforcement agencies to investigate, trace and prosecute those responsible for these crimes. We must all strive towards expanding such interventions, as well as advocate for and enable closer alignment between government departments and between local law enforcement agencies and their international counterparts. However, our solutions must not cause more harm than good by discouraging legitimate investment. We should not, for example, implement unfair tax regimes that could result in capital flight. We must also not inhibit international investment inflows by making it nearly impossible to comply with legislation and regulations. Such a state of affairs would merely encourage companies to operate businesses in sectors such as import and export under the radar. Through working together by sharing data, harmonising laws and holding those responsible for IFFs accountable, we can strengthen the economy by plugging the holes through which money leaks and encouraging investment. Our people deserve nothing less.
The Citizen
a day ago
- The Citizen
French grandmother files ‘genocide' complaint over Gaza killings
France's crimes against humanity court receives a complaint over an Israeli strike that killed two French-Palestinian children in Gaza. The grandmother of two children with French nationality killed in an Israeli strike in Gaza has filed a legal complaint in Paris, accusing Israel of 'genocide' and 'murder', her lawyer said Friday. Jacqueline Rivault filed her complaint with the 'crimes against humanity' section of the Court of Paris, lawyer Arie Alimi said. Rivault hopes the fact her daughter's children, aged six and nine, were French citizens means the country's judiciary will decide it has jurisdiction to designate a magistrate to investigate the allegations. Rights groups, lawyers and some Israeli historians have described the Gaza war as 'genocide'. But Israel, created in the aftermath of the Nazi Holocaust of Jews during World War II, vehemently rejects the explosive term. The complaint states that 'two F16 missiles fired by the Israeli army' killed Janna, six, and Abderrahim Abudaher, nine, in northern Gaza on October 24, 2023. They and their family had sought refuge in another home 'between Faluja and Beit Lahia' after leaving their own two days earlier due to heavy bombardment, the 48-page document stated. ALSO READ: WATCH: 'ICJ case never came up' in meeting with Trump, says Ramaphosa One missile entered 'through the roof and the second directly into the room where the family was', it said. Abderrahim was killed instantly, while his sister Janna died shortly after being taken to hospital. The complaint argues the 'genocide' allegation is based on the air strike being part of a larger Israeli project to 'eliminate the Palestinian population and submit it to living conditions of a nature to entail the destruction of their group'. Though formally against unnamed parties, the complaint explicitly targets Prime Minister Benjamin Netanyahu, the Israeli government and the military. Mother convicted The children's brother Omar was severely wounded but still lives in Gaza with their mother, identified as Yasmine Z., the complaint said. A French court in 2019 convicted Yasmine Z. in absentia of having funded a 'terrorist' group over distributing money in Gaza to members of Palestinian militant groups Hamas and the Islamic Jihad. Hamas's unprecedented attack on Israel on October 7, 2023 resulted in the deaths of 1,218 people, mostly civilians, according to an AFP tally based on official figures. ALSO READ: Gazan twin brothers' Cannes film mourns a Gaza lost to war Militants abducted 251 hostages, 55 of whom remain in Gaza, including 32 the Israeli military says are dead. Israel's retaliatory offensive in Hamas-run Gaza has killed 54,677 people, mostly civilians, according to the health ministry there, figures the United Nations deems reliable. No court has so far ruled the ongoing conflict is a genocide. But in rulings in January, March and May 2024, the International Court of Justice, the United Nations' highest judicial organ, told Israel to do everything possible to 'prevent' acts of genocide during its military operations in Gaza. The International Criminal Court has issued arrests against Netanyahu and ex-defence minister Yoav Gallant for alleged war crimes and crimes against humanity. It also issued an arrest warrant for Hamas military chief Mohammed Deif over allegations of crimes against humanity and war crimes in the October 7 attack, but the case against him was dropped in February after confirmation Israel had killed him. ICC prosecutor Karim Khan initially sought warrants against Hamas leaders Yahya Sinwar and Ismail Haniyeh as well, but dropped those applications after their deaths in Israeli attacks. NOW READ: Israel launches expanded Gaza offensive aimed at defeating Hamas – By: © Agence France-Presse
