President Cyril Ramaphosa on Tuesday welcomed the release of the Africa Expert Panel report, describing it as a key milestone in South Africa’s G20 presidency and a blueprint for unlocking the continent’s economic potential.
Speaking at the handover ceremony in Johannesburg, Ramaphosa said the report presents clear, evidence-based proposals to tackle Africa’s development challenges.
The report’s release comes days before the first G20 Leaders’ Summit to be held on African soil.
“This summit takes place as the world grapples with complex and urgent challenges,” Ramaphosa said. “The solutions to many of these challenges can be found on our continent.”
The report, produced by a panel chaired by former Finance Minister Trevor Manuel, argues that global prosperity in the 21st century hinges on Africa.
The continent’s youthful population, dynamic societies and abundant critical minerals position it as a key player in shaping the global economy.
Ramaphosa called for a new partnership between African countries, the G20 and the wider international community. He said this collaboration must focus on mobilizing investment in infrastructure and human capital.
“If we do not address the debt burden facing many African countries, we risk a lost decade for development,” he said, noting that South Africa has prioritized debt sustainability during its G20 presidency.
He pointed to the G20 Ministerial Declaration on Debt, adopted last month, as an important step that must now be matched with concrete action.
The panel’s report also highlights Africa’s high cost of capital, which Ramaphosa said deters investment and slows development.
He urged international financial institutions to increase concessional funding and called for greater transparency from credit rating agencies to combat biased risk perceptions.
“The Africa Expert Panel has placed on the table detailed recommendations that the G20 should consider,” he said. “Together, the actions they propose can create an investment boom in Africa.”
Ramaphosa affirmed that South Africa will champion the panel’s proposals within the G20 and other international platforms, working with the African Union and global partners.
“This report adds significant impetus to our collective effort to ensure that Africa mobilizes the resources it needs to develop and to grow,” he said.
