This year’s B20 cycle began with vigour this week, with its launch event taking place in Cape Town, South Africa under the theme ‘Inclusive Growth and Prosperity through Global Cooperation’.
As one of the most prominent Engagement Groups of the G20 Initiative, the Business 20 (B20) brings together leaders within the global business community to deliver actionable policy recommendations for how to address global economic and trade challenges. The recommendations will be presented officially to G20 Member States at the B20 Summit, scheduled for November this year.
Most importantly, the B20 presents an opportunity for businesses to influence the G20 Agenda and ensure that the voice of the private sector is heard at the highest levels of global economic governance. Notable attendees at the launch event included Ruwayda Redfearn, CEO of Deloitte Africa, Sim Tshabalala, CEO of Standard Bank Group, and Andrew Kirby, CEO of Toyota SA. Beyond industry leaders, South Africa welcomed representatives from key international and development organisations, including Børge Brende, President and CEO of the World Economic Forum (WEF), John Denton, Secretary General of the International Chamber of Commerce (ICC), and Ahunna Eziakonwa, Director of the United Nations Development Programme’s Regional Bureau for Africa (UNDP).
B20: A Brief Overview
The activity of the B20 throughout the year is driven by several ‘Task Forces’, typically comprised of 150 members from 25 or more countries and over 10 sectors. The Task Forces will meet virtually at regular intervals between March and July to produce their policy reports and recommendations, and advocate for these policies ahead of their presentation to G20 representatives at the B20 Summit in November, which will be held in Johannesburg.
Every year, regardless of where the G20 and B20 Summits are held, six Task Forces are convened. They focus on:
- Trade and Investment – enhancing global trade flows and developing initiatives to offer targeted support to small and medium-sized enterprises (SMEs).
- Digital Transformation – advancing digital inclusion, enhancing cybersecurity, and fostering innovation.
- Integrity and Compliance – encouraging responsible business conduct to combat corruption and increase transparency.
- Employment and Education – aligning education systems with future workforce needs and promoting inclusive job creation.
- Energy Mix and Just Transition – accelerating the adoption of renewable energy and supporting global climate resilience efforts.
- Finance and Infrastructure – driving innovation and inclusion in finance models, addressing infrastructure gaps, and empowering SME integration into global markets.
As the host nation, South Africa can choose two additional Task Forces which will operate in 2025, reflective of the priorities of South Africa and the African continent more broadly. These Task Forces will focus on:
- Industrial Transformation and Innovation – encouraging investment in emerging markets, increasing manufacturing capacity, and promoting sustainable development.
- Sustainable Food Systems and Agriculture – promoting sustainable agricultural practices and ensuring equitable access to food.
Key Highlights From The Launch
The launch event featured panel discussions and keynote addresses from industry leaders, covering issues like digital transformation efforts, geopolitical tensions, and the central role of sustainability and inclusivity in economic growth strategies.
Key takeaways included:
- The (Co-)Chairs of the eight B20 Task Forces were announced. They will lead their respective groups throughout 2025 to produce, promote, and present their policy reports and recommendations. Notably, Phuti Mahanyele, CEO of the technology and multimedia holding company Naspers South Africa, will chair the Digital Transformation Task Force.
- In panel discussions during the launch, participants affirmed their commitment to driving economic growth, innovation, and sustainable development in 2025 through the mobilisation of the Task Forces.
- Considering heightened geopolitical tensions and concerns over the introduction of additional tariffs worldwide, Mr Cas Coovadia, the B20 Sherpa for South Africa, affirmed the importance of global institutions like the B20 in shaping economic policy, trade, and sustainable development.
- The role of artificial intelligence (AI) in Africa’s digital transformation emerged as a key theme. It was highlighted that Africa is well-positioned to accelerate its digital transformation on account of its ability to leapfrog legacy systems and directly adopt the cutting-edge solutions of AI and other emerging technologies.
- Discussions are ongoing around the potential establishment of a ‘B20 Africa Fund’, intended to ensure economic investment and prevent emerging markets in Africa from being ‘left behind’ due to a lack of capital.
Next Steps
Following the launch, members of the eight Task Forces will be confirmed in the first days of March. If you and your business are interested in participating as a Task Force member, we urge you to register as soon as possible.
If you would like to learn more about possible engagement strategies with the B20, as a Task Force member or otherwise, please contact Nick McQueen at [email protected] or Cerys Stansfield at [email protected].
