Keynote address by Deputy President Shipokosa Paulus Mashatile at SOAS University of London during Working Visit to the United Kingdom of Great Britain, London

Wednesday, 2 October 2024

Programme Director;
SOAS President, Zeinab Badawi;
Minsters and Deputy Ministers;
Jo Beall, Vice-Chair: SOAS Board of Trustees;
Provost and Deputy Vice-Chancellor for Education, Professor Joanna Newman MBE;
Deputy Vice-Chancellor Research & Knowledge Exchange, Professor Laura Hammond;
Dean of Development, Economics and Finance, Professor Elisa Van Waeyenberge;
Deputy Vice-Chancellor, Finance & Operations, Khadir Meer;
Dean of Law, Anthropology and Politics, Professor Graeme Were;
Professor Arkebe Oqubay Metiku, British Academy Global Professor;
All professors present;
High Commissioner, Jeremiah Nyamane Mamabolo;
Deputy High Commissioner, Dineo Mathlako;
Director of SOAS, Professor Adam Habib in absentia;

Ladies and gentlemen,

I am truly honoured to have been invited to address this esteemed gathering at SOAS University of London this afternoon. I also want to thank SOAS for accepting me to do my post-graduate studies at this University. However, owing to increased work load I had delay my studies until things settle down in the new Government. Then I will return to continue my studies at SOAS.

Let me also thank SOAS for having opened doors for many students all over the world, especially from the African continent. Many of them have achieved their Masters degrees and are now Ministers, CEO's of major corporates and Banks.

In one of the South African languages we say "Re ya leboga", in other words we thank you most sincerely! Continue to offer this opportunity to many out there, especially in the African continent.

As the Chairperson of the Human Resource Development Council (HRDC), I would like to create partnership with SOAS to increase skills required by our economy, particularly focusing on young people.

My delegation and I are here in the United Kingdom to build on the outcomes of the state visit by President Ramaphosa in 2022, with a specific focus on how we can work together to ensure inclusive economic growth and ensure a balance and increase of trade between our two countries.

As we gather here today, several major megatrends are influencing the world, including globalisation, geopolitical inequalities, environmental crises, climate change, demographic changes, and technology convergence, poverty, and wars.

For example, the current global population is 7.7 billion. However, forecasts indicate that it will grow to 8.5 billion by 2030 and 9.7 billion by 2050. Interestingly however is that half of the 2 billion individuals predicted to be added to the population come from African countries.

The problem is that as population growth increases, inequality also rises, endangering peace and stability worldwide, especially in Africa.

Furthermore, the world is rapidly urbanising, with predictions that 70% of the world's population will reside in cities by 2030.
This is a call for investing where people reside, specifically, we need to focus on rural infrastructure investment. Hence, we should see this as a chance to attract more investors to our rural communities.

Equally Governments and towns must prioritise urban planning solutions that can adapt to these changes. This includes investing in the ecosystems and infrastructure needed to ensure a decent standard of living for all people. This will also necessitate the building of new cities on well located land with all amenities to ensure a better life to citizens.

According to the 2023 Atlas of Sustainable Goals, the global Gini coefficient has fallen since 1990, from about point 70 to point 62 in 2019, which represents significant progress in reducing global inequality.

This suggests that despite progress in reducing inequality, a significant gap still exists between the rich and the poor, indicating the need for more global work to promote economic equality.

Climate change is one of the most pressing issues of our time and poses a significant threat to humanity and the planet. It is a complex problem that demands urgent and consistent action from every individual, organisation, and government.

The government has committed to using the insights and recommendations from the State of Climate Action in South Africa Report to inform the scaling up of the country's actions to respond to climate change. We are actively adopting sustainable practices to reduce our carbon footprint. The global community must unite to address this issue with utmost seriousness and commitment.

We also call upon the world to work for peace, in particular in the Middle East. We must ensure ceasefire so that the people of Palestine can rebuild and establish a state, side by side with Israel.

Ladies and Gentlemen, allow me to speak a little bit about our country, the country of Nelson Mandela, Bishop Desmond Tutu, Ruth First, Fatima Meer, Albert Luthuli, Oliver Tambo, Winnie Mandela and many great heroes and heroines.

In the recent general elections, our voters, casted their votes in a manner that did not result in an outright majority, by this they have echoed a call, propelling us to work together as political parties hence we have formed a Government of National Unity (GNU).

As the GNU we are now more than 100 days in office and we remain united with a common purpose, and no one can derail us from reaching our objectives.

As we approach the first 100 days of this seventh administration, political parties and all social partners have demonstrated a collaborative attitude as well as the discipline to get things done.

Implementing the reform program and achieving more rapid and inclusive economic growth are top priorities for the Government of National Unity.

In summary, our strategy entails promoting trade and investment between South Africa and the UK, as well as strengthening economic cooperation with the UK to support the government's strategic priorities. These priorities include:

• advancing inclusive and sustainable economic growth,
• addressing poverty and the high cost of living, and
• strengthening our bilateral partnership in various sectors such as trade, investment, skills development, science, and innovation.

As an educational institution, we must invest in the knowledge economy, a system of consumption and production based on intellectual capital. Knowledge economy refers to the ability to capitalise on scientific discoveries and applied research. It represents a large share of the activity in most highly developed economies.

Economic activities based on new knowledge stimulate economic growth, provide higher wages, and greater employment opportunities.

Ladies and gentlemen,

South Africa will assume the G20 Presidency on December 1, 2024, following the G20 Leaders' Summit under the Brazilian Presidency, scheduled for November 18-19, 2024, in Rio de Janeiro, Brazil. During the G20 Presidency, South Africa intends to "place Africa's development at the top of the agenda."

In close collaboration with the African Union, South Africa will use the opportunity presented by its G20 Presidency to advance the priorities of the AU's Agenda 2063: The Africa We Want.

It is important for South Africa to ensure that the G20 remains sensitive to the needs of Africa's and the Global South's developing economies. South Africa firmly believes that the G20, with the United Nations (UN) at the centre, are vitally important in accelerating implementation of the Sustainable Development Goals (SDGs).

South Africa's presidency of the G20 will provide a unique opportunity to bring to the fore the needs, aspirations, and ambitions of the developing countries. We will use this opportunity to discuss the reform of global governance and build on the efforts and success of the Indonesian, Indian, and Brazilian G20 Presidencies.

As a country, we are considering the monitoring of past commitments made by the G20 and the possibility of a review of the G20, given that the full cycle of G20 members comes to an end with South Africa. The South African Presidency will further focus on the developmental agenda and implementation of the Sustainable Development Goals (SDG's).

The worrisome lack of progress in enhancing sustainable development globally underscores the need for global solidarity in addressing issues such as growing inequality, rising hunger, rising extreme poverty, the current global economic, climate, and energy crisis, the debt crisis facing developing countries, and illicit financial flows, all of which impede developing countries' access to sustainable development.

We will also highlight the vital minerals issue and strive to bring attention to it during our presidency. We will concentrate on utilising natural resources, tackling beneficiation challenges, mobilising domestic resources, developing a critical mineral strategy, managing interdependent and diverse supply chains, and leveraging natural capital.

It is important to note that critical minerals are essential for just transition and the green economy; therefore, the issue remains relevant, particularly as it relates to the type of investment that is required to address these issues.

Furthermore, South Africa will seek to leverage its presidency to advance the global reform agenda, particularly the transformation of the global financial architecture and reform of the International Monetary Fund/World Bank/Multilateral Development Banks.

Processes are presently in progress to establish South Africa's priorities and deliverables for its 2025 G20 presidency. The overarching theme for South Africa will be "Solidarity, Equality, and Sustainable Development".

• Solidarity signifies a unified effort and mutual support among member nations. It is the recognition that in an interconnected world, the challenges faced by one nation can have global ripple effects.

• Equality refers to ensuring fair treatment, opportunities, and advancement for all individuals and nations, irrespective of their economic status, gender, race, geographic location, or other characteristics.

• Sustainable development is about meeting the needs of the present without compromising the ability of future generations to meet their own needs. It integrates economic growth, social inclusion, and environmental protection, ensuring the long-term health and stability of everyone and our planet. G20 nations, as major global actors, play a pivotal role in driving sustainable development agendas.

As I have already mentioned, South Africa will continue with the discussions around the reform of global systems of governance introduced under the G20 Presidency of Indonesia, India, and Brazil.

The reform of global governance institutions is very important. These institutions are important instruments of global governance and should be at the forefront of ensuring a more just and equitable international order. The debate on global governance reform must advance toward tangible outcomes.

South Africa reiterates its unwavering commitment to modernising the UN to make it more effective, agile, action-oriented, forward-thinking, inclusive, and representative of current geopolitical relations and the international community.

South Africa has always been vocal about the need to reform the global governance system, particularly the global financial architecture, and how the debate must advance towards tangible outcomes.

The lack of progress towards achieving the SDGs necessitates a focus on providing more financial resources, which is linked, among other things, to the need for the reform of international financial institutions and multilateral development banks to make them fit for purpose.

The international financial architecture has not kept pace with a changing global landscape. We urgently need bold and ambitious reforms to create a stable, sustainable, and inclusive international financial architecture, which will broaden and strengthen the voice and participation of developing countries in international economic decision-making, norm-setting, and global economic governance.

We need to transform the global financial system to make it fit for purpose, including by setting more ambitious targets for grant and concessional financing, enhancing multilateral coordination on debt, drawing in the private sector, and ensuring equal participation in the decision-making process.

Ladies and gentlemen,

While South Africa continues to prepare for its G20 Presidency, move towards concrete deliverables, and finalize its agenda, what I have shared here today reflects some of the most pertinent issues that will inform and drive our agenda forward.

It is South Africa's hope that, once completed, looking back at our G20 Presidency will showcase the amplified voice, perspectives, and leadership of the developing world in tackling some of these most pressing global challenges.

As I conclude, South Africa's hope is that its presidency of the G20 will contribute towards making a world that is more equitable, more resilient, and more sustainable.

As future global leaders, I look forward to hearing your thoughts on how South Africa could further leverage its presidency to achieve this.

Thank you.