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Canada News.Net
4 days ago
- Business
- Canada News.Net
MoS Margherita participates in G20 Development Ministers' Meeting, speaks of India's role in ensuring social protection
Cape Town [South Africa], July 25 (ANI): Union Minister of State for External Affairs, Pabitra Margherita, on Friday participated in the first session of the G20 Development Ministers' Meeting on Combating Illicit Financial Flows and Social Protection. Margherita emphasized the need to bridge the Sustainable Development Goals financing gap. In a post on X, he said, 'Participated in the first session of the G20 Development Ministers' Meeting on Combating Illicit Financial Flows and Social Protection today. Highlighted India's key achievements in ensuring inclusive Social Protection for all and emphasized the need to bridge the SDG financing gap.' Earlier in the day, Margherita met with South African Minister of the Department of Planning, Monitoring and Evaluation, Maropene Ramokgopa and invited the nation to join the International Solar Alliance and Coalition for Disaster Resilient Infrastructure. Margherita expressed India's support for the priorities of the South African presidency. In a post on X, he said, 'Glad to meet Maropene Ramokgopa, Minister of DPME, South Africa. Expressed India's support for the priorities of the South African presidency and emphasized the importance of critical minerals and debt sustainability for Africa. Also invited South Africa to join the International Solar Alliance and Coalition for Disaster Resilient Infrastructure.' Earlier on Thursday, he met Thani Mohamed-Soilihi Minister of International Partnerships of France on the margins of G20 Development Minister's Meeting. In a post on X, he said, 'It was a pleasure to meet Thani Mohamed-Soilihi, Minister of International Partnerships of France on the margins of G20 Development Minister's Meeting. Discussions were held on 4P and continuing our common interest in AI, reform of international financial architecture, and disaster resilience.' Margherita is in South Africa to attend G20 Development Ministers' Meeting under the South African G20 Presidency. In a post on X, he said, 'Arrived at Kruger National park, Mpumalanga South Africa to attend G20 Development Ministers' Meeting under the South African G20 Presidency. Looking forward to meaningful engagements with stakeholders from G20 members and invited countries to discuss key development issues facing the world.'
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
