In a world divided by wars, inequality, and distrust, it is easy to forget that cooperation is still possible, and necessary. Yet in a few days, the world’s 20 largest economies will gather for the first time on African soil, when South Africa hosts the G20 Leaders’ Summit in Johannesburg.

As I prepare to join the Open Society Foundations’ Team to participate in the various policy influencing gatherings around this historical moment in our continent, I would like to share this article in 7 quick points on the fundamentals of G20, why does it matter and what is at stake at this particular meeting.

You can also read my article “The African Union at the G20, Now What?” published in 2023 when the continental body became a full member of the Group.

1. What Exactly Is the G20 and Why Does It Matter?

The Group of Twenty (G20) is not a formal organization with a treaty or a secretariat. It is a forum of major economies ; 19 countries plus the European Union, and, since 2023, the African Union as a permanent member. Together, these members account for around 85% of global GDP, 75% of trade, and two-thirds of the world’s population.

Created in the aftermath of the 1997 Asian financial crisis and elevated to leaders’ level during the 2008 global recession, the G20 was designed to prevent economic shocks and coordinate policies on trade, finance, and growth. But in recent years, its agenda has expanded to include climate change, digital transformation, health, debt, and inequality; the most crucial issues of our time.

The G20 has no binding power. Its strength lies in influence and direction-setting. When its leaders agree on principles, those tend to shape the policies of the World Bank, IMF, WTO, OECD, and multilateral development banks.

2. How Does the G20 Work?

The G20 runs on a rotating presidency system. Each host sets the annual theme, convenes meetings, and steers negotiations toward a Leaders’ Declaration at year’s end.

There are two main tracks:

• The Finance Track, led by finance ministers and central bank governors, covers debt, taxation, global financial stability, and reform of multilateral banks.
• The Sherpa Track, led by appointed national representatives shapes the political and developmental agenda: climate, trade, gender, health, digital, and more.

Around these formal meetings orbit the engagement groups: the B20 (business), T20 (think tanks), C20 (civil society), Y20 (youth), L20 (labour), and W20 (women). These forums allow business leaders, academics, activists, and youth voices to influence the official agenda.

3. The G20 Troika: Steering the Ship

At the helm of this sprawling system sits what’s known as the G20 Troika, a three-member steering mechanism composed of the past, current, and incoming presidencies. For 2025, that means Brazil, South Africa, and the United States.

The Troika ensures continuity and coherence, preventing the G20 from turning into a series of disconnected host-year projects. Under this configuration, Brazil’s developmental priorities, South Africa’s equality agenda, and America’s upcoming geopolitical stance are meant to align, though that is easier said than done.

This particular Troika is geopolitically fascinating: it brings together three continents and three contrasting worldviews, Latin America’s focus on social justice, Africa’s call for fairness, and America’s realist power politics. How they navigate their differences will determine whether the G20 remains a platform for cooperation or becomes another theatre of global rivalry.

4. What’s at Stake in South Africa’s 2025 G20

South Africa has chosen the theme “Solidarity, Equality, Sustainability.” It speaks directly to the heart of global tensions: how to make globalization fairer, how to finance development and climate justice, and how to ensure the voices of emerging economies are heard.

a) Reforming Global Finance

Pretoria wants to push for a new deal on development finance, faster and fairer debt treatment for developing countries, reforms to make multilateral development banks “better, bigger, and bolder,” and a recognition that economic stability cannot exist without climate resilience.

African and other Global South nations face unsustainable debt servicing costs. South Africa’s message is clear: the financial architecture built in the 20th century no longer serves the 21st.

b) Tackling Inequality

In August 2025, President Cyril Ramaphosa launched a G20 Taskforce on Global Inequality, chaired by Nobel laureate Joseph Stiglitz, to propose ways to close the wealth gap within and between nations. This is an important issue not just for Africa but globally,  a moral and economic imperative to ensure growth benefits all.

c) Africa’s Voice, Finally Heard

With the African Union now a full G20 member, the continent can finally speak for itself rather than being spoken for. Expect key side sessions on the African Continental Free Trade Area (AfCFTA), industrialization, critical minerals, climate adaptation, and food security, all framed within Agenda 2063, our continental business plan.

South Africa’s challenge will be to turn symbolism into influence: translating Africa’s presence into concrete outcomes on finance, trade, and representation.

5. The Side Conversations That Matter

Beyond the leaders’ sessions, Johannesburg will host a series of side summits and engagement meetings:

• The B20 in Sandton will debate how to scale private investment into Africa’s green and digital economy.
• The T20 and C20 will focus on knowledge and civic advocacy; from climate justice to digital governance.
• A Social Summit is planned to bridge policy with lived realities, giving voice to labor unions, civil society, and youth groups.
• And many more…

If managed well, these parallel tracks could make the 2025 summit the most inclusive G20 in history.

6. Geopolitics on the Horizon: The U.S. Presidency Awaits

As the summit closes, South Africa will hand the presidency baton to the United States, ushering in the 2026 cycle under President Donald Trump.

This transition is likely to reshape the tone and priorities of the G20. From his previous to his current term, Trump often dismissed multilateralism as “globalist bureaucracy,” withdrew the U.S. from major climate commitments, and clashed with African nations, including South Africa over trade, immigration, and political values.

If history is any guide, Washington’s return to the chair may turn the G20 toward hard transactionalism rather than solidarity. However, global realities have changed: the war in Ukraine, the emergence of several other economic powers, and the growing assertiveness of the Global South mean that no single power, not even the U.S. can dictate the agenda alone.

The South African presidency, in that sense, may become the bridge year that sets boundaries: asserting that Africa’s concerns including debt relief, equitable energy transition, and representation, are now central, not peripheral, to global decision-making.

7. The Difficult Conversations

Even as Johannesburg prepares to welcome the world, divisions remain:

• Debt restructuring remains painfully slow under the G20’s Common Framework.
• Climate commitments are uneven, with disagreements on phasing out fossil fuels.
• Wars in Europe and the Middle East risk hijacking the declaration text.
• Reform of international institutions, including the IMF and World Bank, remains politically charged.

South Africa’s diplomacy will be tested, balancing moral clarity with pragmatic coalition-building.

This G20 is historic not only because it is being held in Africa, but because it may redefine what leadership looks like in a fractured world.

For Africa, it is an assertion of agency. For South Africa, it is a chance to prove that dialogue across divides is still possible. For the G20, it is a reminder that solidarity and sustainability are not slogans, but survival strategies.

If Johannesburg 2025 can deliver even a modest consensus on fairer finance, inclusion, and global cooperation, it will mark the beginning of a new era; one where the Global South is not at the margins, but at the centre of shaping the future of global governance.

If you’d like to receive my articles automatically as soon as they’re published, simply follow this blog using the “Follow” button at the bottom left of this page or send me an email at: Desire.Assogbavi@Assodesire.com