G20
Deputy Finance Minister David Masondo says G20 costs must be weighed against the long-term value they bring, including global exposure, investment opportunities, and Africa’s credibility on the world stage. He urges viewing the summit as an investment, not just an expense.
Deputy Minister of Finance David Masondo has stressed that South Africa’s expenditure on the G20 summit should be measured not merely in rands but in the broader value it delivers to the country and the African continent. He highlighted that hosting the summit offers a unique opportunity to showcase South Africa’s capacity to organise high-profile international events and signals to global investors that the continent is a serious economic player.
Masondo said the benefits of the summit go beyond immediate costs, pointing to enhanced exposure, potential investment inflows, and elevated diplomatic status. “The G20 presidency is not just about money spent; it is about long-term gains and positioning Africa at the centre of global economic discussions,” he explained.
His comments come as Parliament’s appropriations committee, chaired by Mmusi Maimane, prepares to scrutinise G20 spending, particularly in light of reports of shortfalls and additional allocations this year. Masondo stressed that this evaluation should include qualitative benefits, such as opportunities for trade, investment, and knowledge exchange.
