The South African delegation, led by Finance Minister Enoch Godongwana, has wrapped up a productive engagement at the World Economic Forum (WEF) 2024 Annual Meeting in Davos. The delegation, which included Trade and Industry Minister Ebrahim Patel, Higher Education and Innovation Minister Blade Nzimande, Communications and Digital Technologies Minister Mondli Gungubele, Health Minister Joe Phaahla, along with representatives from Brand South Africa, business executives, entrepreneurs, and civil society leaders, effectively conveyed the message that South Africa remains a premier destination for growth and investment.
Under the overarching theme of WEF 2024, “Rebuilding Trust,” South Africa showcased its continued role as a regional and global leader. Minister Godongwana emphasized the country’s commitment to multilateralism and cooperation as essential components of its strategy to drive economic growth. The delegation addressed inquiries regarding South Africa’s progress in economic reforms, with a focus on energy, transport, logistics, and crime prevention.
Minister Godongwana highlighted the significant strides made by South Africa over the past 30 years since achieving democracy. Despite facing challenges in achieving a balanced fiscal sustainability policy, growth-accelerating reforms, and targeted spending on social services and infrastructure, the country is making commendable progress.
The WEF 2024 meeting, held from January 15 to 19, provided South African policymakers with a unique opportunity to engage directly with a diverse range of global stakeholders. Discussions encompassed critical issues such as climate change, technology, trade, and multilateral cooperation. Additionally, South Africa’s upcoming presidency of the G20 in 2025, its role in the BRICS group expansion, and participation in the African Continental Free Trade Area (AfCFTA) were highlighted.
Minister Godongwana, speaking at a panel on the BRICS in Expansion, emphasized the bloc’s significance in reforming international decision-making bodies to better reflect contemporary power and economic realities. He stressed the common interests shared among BRICS+ nations and highlighted the expansion’s role in positioning the BRICS Group as the voice of the global south.
In summary, South Africa’s delegation successfully used the WEF 2024 platform to reinforce its commitment to global cooperation, showcase economic progress, and contribute to discussions on shaping a more inclusive and sustainable global system
