B20 South Africa: defining the next chapter in global trade
As Africa’s largest bank by assets, we are proud to be a lead sponsor of the first B20 hosted on African soil.
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B20 South Africa FAQs
What is the B20?
The Business 20 (B20) is the official G20 dialogue forum with the global business community. It is one of the most prominent Engagement Groups in the G20 and aims to foster dialogue among business leaders, civil society and governments to address global economic and social challenges.
How does the B20 contribute to the G20 process?
The B20 provides the G20 with a business perspective on key global challenges and opportunities. Its policy recommendations inform the G20's decision-making process and help shape the global economic agenda.
What are the key priorities of B20 South Africa?
B20 priorities align with the G20's agenda and focus on areas such as trade and investment, employment and education, energy mix and just transition, digital transformation integrity and compliance, sustainable food systems and agriculture, finance and infrastructure, and industrial transformation and innovation.
What is Standard Bank’s role in the B20?
Standard Bank is one of the lead sponsors of the B20 summit. Additionally, various Standard Bank Group leaders have been appointed to the Finance and Infrastructure task force and are actively involved in contributing to the G20 policy discussions.
Who are the key stakeholders in the B20?
Key stakeholders include the following:
- Business leaders such as CEOs and senior executives from leading companies around the world
- Representatives from the governments of the G20 member countries
- International organisations such as the World Bank, the IMF and the UN
- Civil society organisations including non-governmental organisations and other civil society groups
What are the expected outcomes of the B20?
The expected outcomes of the B20 include the following:
- Actionable policy recommendations for the G20 to address global challenges
- Increased business engagement and involvement of the private sector in the G20 process
- Enhanced global cooperation including strengthened collaboration between businesses, governments and international organisations
- Contributions to sustainable and inclusive economic growth
How is the B20 organised?
The B20 operates under a structured governance framework including the following:
- B20 chair: Appointed by the G20 Presidency, responsible for leading the B20 process
- Steering committee: Composed of business leaders from various sectors and countries, providing strategic guidance
- Task forces: Focused on specific policy areas, developing recommendations based on expert input
- Secretariat: Provides administrative and logistical support to the B20 process
What are B20 task forces?
The B20 task forces are working groups comprising business experts from various sectors and countries. They are responsible for the following:
- Identifying key challenges and opportunities within their respective policy areas
- Developing concrete policy recommendations for the G20
- Engaging with stakeholders to gather input and build consensus
- Presenting their recommendations to the B20 leadership and the G20
How many task forces are there, and what is each one responsible for?
The B20 summit includes 8 task forces, each with a specific area of focus:
- Trade and Investment: Enhancing global trade, removing market barriers and encouraging sustainable investments, particularly for SMEs
- Employment and Education: Promoting inclusive job creation, addressing skills gaps and aligning education with future workforce needs
- Energy Mix and Just Transition: Driving a sustainable energy transition, accelerating renewable energy adoption and strengthening climate resilience
- Digital Transformation: Advancing digital inclusion, enhancing cybersecurity and fostering innovation in emerging technologies
- Integrity and Compliance: Combating corruption, enhancing transparency and fostering robust compliance systems
- Sustainable Food Systems and Agriculture: Promoting sustainable agricultural practices, improving supply chain resilience and ensuring access to nutritious food
- Finance and Infrastructure: Driving innovation in financing, ensuring financial inclusivity and addressing infrastructure gaps for economic growth, especially for SMEs
- Industrial Transformation and Innovation: Modernising industrial sectors, strengthening manufacturing and promoting sustainable development across industries
Will any Standard Bank Group representatives participate in any of the B20 task forces?
Yes, Standard Bank Chief Executive Officer Sim Tshabalala has been appointed as the chair of the Finance and Infrastructure task force, and Standard Bank Group Head of Public Policy and Regulation Lungisa Fuzile will serve as deputy chair of the Finance and Infrastructure task force.
Which Standard Bank Group representatives will be taking part in B20?
Standard Bank Group Independent Non-Executive Chairman Nonkululeko Nyembezi will serve as co-chair of the B20 summit. Standard Bank Chief Executive Officer Sim Tshabalala and Standard Bank Group Head of Public Policy and Regulation Lungisa Fuzile will both participate on the Finance and Infrastructure task force.
When are the next events for B20?
You can also keep track of all the upcoming events by visiting the B20 website.
Where can I find out more about B20?
To learn more about the B20 summit and see all the latest updates, visit the B20 website or social media pages including X, LinkedIn and Facebook.
For more info visit the B20 official website
