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IOL News
a day ago
- Business
- IOL News
South Africa's G20 Meeting: Tackling illicit financial flows and advancing social protection
The G20 Development Working Group Ministerial Meeting commenced with a compelling keynote address delivered by Minister Maropene Ramokgopa, Minister in the Presidency for Planning, Monitoring & Evaluation. Image: Department of Planning, Monitoring & Evaluation/ Facebook It was a busy week for the Department of Planning, Monitoring and Evaluation (DPME) with the Fourth G20 Development Working Group (DWG) Meeting and Ministerial Meeting, focusing on the need to tackle illicit financial flows, strengthen domestic resource mobilisation, advance inclusive social protection systems and align development finance with the Sustainable Development Goals (SDGs). At the ministerial meeting, Minister Maropene Ramokgopa said South Africa's Presidency placed particular emphasis on two critical enablers: the mobilisation of domestic resources through curbing illicit financial flows and the acceleration of universal, inclusive, and adequate social protection. 'With just five years remaining before the 2030 deadline, only 52.4% of the global population is effectively covered by at least one form of social protection. In Sub-Saharan Africa, that figure stands at a mere 13%, compared to 86% in North America and Europe. The disparity is stark. Social protection, in particular social security, is not a luxury. It is a fundamental human right and a cornerstone of resilient societies,' Ramokgopa said. She highlighted their pride in the 16 points of the Call to Action, which advocate for expanded Social Protection coverage. This expansion aims to accelerate progress towards the SDGs, particularly in addressing poverty and hunger, by increasing social protection coverage for at least one category by 2 percent annually in countries currently lagging. 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 ✕ Ad loading Ramokgopa said they are also committed to drawing further on the advances and advantages of digitalisation while being mindful not to exacerbate inequalities through the digital divide. 'To uphold our commitments and transform discussions into meaningful action, we have empowered the Social Protection Interagency Board (SPIAC-B), in partnership with the ILO, to monitor and annually report to the G20 DWG on the progress made in realising this call to action,' Ramokgopa said. Ramokgopa said investment in social protection remains dangerously low. 'We need to shape all of society to understand social protection as an investment in human capital, which can be leveraged as a tool for inclusive economic growth and transformation of the economy and labour market,' Ramokgopa said. Ramokgopa added that while the demand for SDG financing escalates, official development flows and domestic fiscal capacities remain insufficient. Blended finance has mobilised only $213 billion to date, with the least-developed countries receiving a paltry 6%. 'This underscores the imperative to strengthen domestic resource mobilisation and to curb illicit financial flows (IFFs) decisively,' Ramokgopa said. 'IFFs remain a critical challenge for many countries, especially in developing and low-income countries. Although inherently difficult to quantify, estimates suggest that IFFs amount to around $1.5 trillion annually.' Ramokgopa presented a framework of high-level principles designed to serve as a foundation for systemic action, including: Advancing global financial transparency; Promoting integrity and the exchange of financial data; Establishing equitable tax systems; Enhancing multilateral cooperation and enforcement mechanisms; Investing in the capacity of revenue authorities and financial institutions; Strengthening procurement transparency and accountability; and Promoting technological innovation to track, trace, and recover stolen assets. Delivering opening remarks at the development working group meeting, Ramokgopa emphasised the importance of inclusive growth, social protection, and sustainable financing. 'This week is crucial for the advancement of our shared commitment to confront global development challenges. We gather not just as Ministers and officials, but as stewards of a common ambition to build a world in which progress does not bypass the most vulnerable,' Ramokgopa said. The Development Bank of Southern Africa (DBSA) hosted a side event on day one, focusing on financing sustainable development and global public goods. The discussion explored innovative financing solutions, collaborations, and consistent policies to address the needs of the most vulnerable communities. Practical implementation of development goals was the focus of other sessions. The United Nations Development Programme (UNDP) reviewed the outcomes of the Fourth International Conference on Financing for Development, while the United Nations Environment Programme (UNEP) showcased its RELISA initiative as a practical example of sustainability.
Eyewitness News
25-05-2025
- Business
- Eyewitness News
G20 Development Working Group kicks off 3rd meeting coinciding with Africa Day
JOHANNESBURG - The G20 Development Working Group (DWG) kicked off its third meeting on Sunday at KwaZulu-Natal, coinciding with Africa Day. Minister in the Presidency for Planning, Monitoring and Evaluation, Maropane Ramokgopa, kicked off the meeting, calling for renewed global solidarity to tackle pressing development challenges. Over the next three days, delegates will deliberate on three key priority areas, including strengthening domestic resource mobilisation through curbing illicit financial flows, advancing social protection systems, and supporting access to global public goods. ALSO READ: Water and sanitation dept preparing to reopen the Lesotho Highlands Water Project tunnel Ramokgopa underscored the importance of policy coherence, welcoming the DWG's coordination with other G20 workstreams. "These are vital linkages that reinforce the G20's unique position as a platform that bridges development, finance and global governance. As we embark on this important work, I want to remind us all that what we do here matters. Our negotiations over the next few days are about the livelihoods of billions of people around the world, and the kind of future we collectively wish to shape."
IOL News
25-05-2025
- Business
- IOL News
South Africa urges G20 to address illicit financial flows costing Africa over R1. 58 trillion annually
South Africa has urged the world's largest economies to take more decisive action against illicit financial flows Image: Jacques Naude / Independent Newspapers South Africa urged the world's largest economies to take more decisive action against illicit financial flows depriving African countries of essential resources needed for their development. During her opening address at the G20 Development Working Group meeting in KwaZulu-Natal on Sunday, Maropene Ramokgopa, the Minister in the Presidency for Planning, Monitoring, and Evaluation, emphasised that the continent around $88.6 billion (over R1.58 trillion) each year due to illegal financial activities. South Africa has urged the world's largest economies to take more decisive action against illicit financial flows Image: GCIS 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 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. Next Stay Close ✕ "The issue of Illicit Financial Flows remains a critical challenge for many countries, especially on the African Continent. According to the African Union Economic Commission for Africa's High-Level Panel on the Illicit Financial Flows, led by former President of South Africa, His Excellency, President Thabo Mbeki, the African Continent loses an estimated $88.6 billion annually due to the Illicit Financial Flows," she said. "Evidence from sources such as Transparency International and Corruption Watch find that many cases of Illicit Financial Flows coming out of Africa end up in wealthy nations, far from where the corruption originated from." South Africa has also voiced strong support for the continued work of the Financial Action Task Force Image: GCIS
IOL News
25-05-2025
- Politics
- IOL News
G20 Development Working Group focuses on global solidarity and action
Minister in the Presidency for Planning, Monitoring & Evaluation Maropene Ramokgopa and KwaZulu-Natal director-general Dr Nonhlanhla Mkhize during a pre-meeting briefing session ahead of the third G20 Development Working Group Meeting on Sunday. Image: South African Government The G20 Development Working Group convened on Sunday with an urgent mission to cultivate solidarity, equality, and sustainability in pursuit of transformative global change. This gathering, set against the backdrop of South Africa's G20 Presidency, signals a renewed commitment to multilateralism. The session commenced with a call to action reflecting the current global crossroads. During her opening address, Minister in the Presidency for Planning, Monitoring & Evaluation, Maropene Ramokgopa, said the global community is at a crossroads. Ramokgopa said humanity faces significant intertwined global challenges, including extreme poverty, inequality, geopolitical tensions, conflict, insecurity, climate change risks, extreme weather, and economic instability. Despite these complexities, there is potential for transformative progress and the realisation of dignity for all. 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 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. Next Stay Close ✕ 'Notwithstanding all of these factors, our collective commitment and capacity as humanity to address and tackle these challenges and exploit the opportunities is key,' Ramokgopa said. She believes the working group must be a vessel for hope and action, where global ambition meets solutions to global challenges, practical delivery and where solidarity guides their solutions. Additionally, the working group should reinvigorate multilateralism, strengthen development cooperation, and forge collective solutions that leave no one behind. Over the next three days, topics will revolve around three priority areas central to the working group's mission: Strengthening Domestic Resource Mobilisation through curbing Illicit Financial Flows, which continue to deprive developing nations of the resources needed to invest in health, education, and infrastructure. The issue of Illicit Financial Flows remains a critical challenge for many countries, especially in Africa. Estimates indicate Africa loses around $88.6 billion annually due to Illicit Financial Flows. 'South Africa strongly supports the continued engagement of the Financial Action Task Force in identifying gaps and enhancing global cooperation and urges the G20 to adopt an even more development-centred approach to financial integrity, grounded in transparency, fairness, and capacity support,' Ramokgopa said. 2. Advancing Social Protection Systems to provide dignity, resilience, and opportunity for all, particularly the poor, women, youth, and vulnerable groups. Social Protection Systems remain a cornerstone of South Africa's fight against poverty and inequality. 'As part of our 'social wage', we continue to invest in income support, universal healthcare, education, housing, and access to basic services,' Ramokgopa said. The G20's High-Level Principles on Social Protection, adopted in 2021, affirm the critical role of social protection in building resilience and promoting inclusive growth. These principles must translate into global best practices and measurable outcomes. 3. Supporting access to Global Public Goods. This is essential for, amongst others, managing climate risks, promoting global health, and fostering digital inclusion. Ramokgopa said they should ensure that Global Public Goods governance and financing mechanisms are inclusive and just. South Africa has championed calls for fairer access to clean technologies, vaccines, and climate adaptation finance. Ramokgopa said she was encouraged to see the working group deepening its coordination with other G20 working groups and workstreams, including Finance, Climate Sustainability, Employment, and Anti-Corruption, to ensure policy coherence and systemic impact. The G20's strength lies in its ability to connect development, finance, and global governance, creating crucial linkages that underscore its unique role. 'I wish to welcome the important contributions of partner institutions such as the Development Bank of Southern Africa, the International Labour Organisation, and the Financial Action Task Force in the work of this Group,' Ramokgopa said. 'I am confident that their insights will enhance our work and contribute to the practical tools and partnerships needed to build just, inclusive, and resilient societies.' Ramokgopa added that the negotiations are about the lives and livelihoods of billions of people worldwide, and the kind of future they collectively wish to shape.
