G20 faces a generational test

SINCE December 1 last year until the Leaders' Summit in November 2025, South Africa chairs the world’s most influential economic forum, that is the G20, under the theme: “Solidarity, Equality, Sustainability”. The theme signals our determination to put people ~ not profits - at the centre of global decision-making.

- ALVIN BOTES

Our high-level priorities are clear and interlinked. Firstly, inclusive economic growth, industrialisation, employment and the reduction of inequality. Secondly, food security in an era of climate disruption. Thirdly, harnessing artificial intelligence and broader technological innovation for sustainable development.

Complementing these three priorities is our drive for disaster-risk resilience and fair debt-relief architecture so that climate-vulnerable and heavily indebted countries are not forced to choose between servicing loans and saving lives.

The stakes could not be higher. The International Labour Organisation (ILO) reports that global unemployment is hovering near a historic low of 5%, yet globally the average for young people remains stubbornly high - about 13% worldwide, and more than double that in many developing economies.

Here at home, 4.8 million South Africans aged 15-34 are unemployed; 58% of them have never had a single day of paid work, and our youth unemployment rate climbed to 46.1% in the first quarter of this year.