sanews - 18 days ago

SA to host special WEF Summit in 2027 The Minister of International Relations and Cooperation, Ronald Lamola, has announced that South Africa will host a Special World Economic Forum (WEF) Summit in 2027. Speaking at the recent World Economic Forum meeting in Davos, Switzerland, Lamola said that as Africa’s most industrialised economy and a key voice of the Global South, South Africa is uniquely positioned to convene global leaders to advance collective solutions to pressing global challenges “South Africa s leadership in climate diplomacy, renewable energy transition, digital transformation, and regional integration align closely to the World Economic Forum s mission to improve the state of our world,” the Minister said. World leaders from government, business, civil society and academia gathered in Davos from 19 to 23 January 2026 to engage in forward-looking discussions to address global issues and set priorities. South Africa’s delegation to the 2026 WEF meeting held successful meetings with global investors, potential investors and business partners. Led by the Minister of Finance, Enoch Godongwana, the meetings gave Team South Africa a valuable platform to highlight the country’s recent progress in implementing the reforms needed to unlock growth and generate much needed employment. “When we came here in 2025, we presented our ambitious plan for driving economic reforms, building investor confidence and mobilising private investment. We returned in 2026 with concrete evidence of our progress. We returned not with promises, but with real successes,” Godongwana said on Friday. In engagements with potential investors and business partners, the delegation highlighted the positive impacts of South Africa’s removal from the Financial Action Task Force (FATF) greylist and an upgrade of its sovereign credit rating by rating agency S P Global as well as the structural reforms driven by Operation Vulindlela that have stabilised electricity supply, improved port and freight rail operations and lifted investment in infrastructure. The Minister emphasised that government would deliver on its commitment to stabilise debt in the current fiscal year. “This signalled its commitment to the macroeconomic stability and consistent policy execution needed to create an environment for higher local and global investment. He also noted that the recent lowering of the inflation target would contribute to reducing costs across the economy and providing policy and price certainty for investors,” National Treasury said. The WEF hosted a press conference at which Team South Africa reported on its 2025 G20 Presidency that culminated in a historic G20 Leaders’ Declaration. “Our G20 Presidency offered an increasingly rare opportunity for economic cooperation and dialogue to rise above narrow self-interest, geopolitical rivalry and brinksmanship. “We will continue to act a as credible mediator on key issues of debt relief, climate and infrastructure finance, global tax rules and the reform of multilateral institutions,” Godongwana said. The Ministerial delegation consisted of Minister L Minister of Trade, Industry and Competition Parks Tau; Minister of Small Business Development Stella Tembisa N Minister of Electricity and Energy Dr Kgosientsho Ram and the Minister of Tourism Patricia de Lille. - SAnews.gov.za nosihle Sun, 01/25/2026 - 13:20 45 views

Latest News

Hashtags:   

special

 | 

Summit

 | 

Sources