The B20 Summit in Johannesburg, South Africa, the official business engagement forum of the G20 continued its second day on 19 November 2025 at the Sandton Convention Centre. (day one comprised of a gala dinner only) This historic event, the first B20 presidency led by an African nation, runs from 18–20 November under the theme “Inclusive Growth and Shared Prosperity through Global Cooperation”. It serves as the culmination of a year-long process where global business leaders formulate policy recommendations for G20 governments, focusing on trade, investment, sustainability, digital transformation, infrastructure financing, and inclusive economic growth, with a strong emphasis on Africa’s role in the global economy.
Attendance and Scale
The summit has attracted over 1,200 delegates, including CEOs, policymakers, and experts from G20 member countries, invited nations, and international organisations. Business representatives participating this year, came from all 20 G20 economies (including the EU and African Union as guests), plus additional African and Global South countries. Exact breakdowns of attendees are not available, but reports confirm broad participation from advanced economies (US, Europe, Japan) and emerging markets (India, Brazil, Indonesia). The event has highlighted Africa’s leadership moment, with strong turnout from South African firms (via Business Unity South Africa – BUSA) and regional players.
Key Themes and Discussions on Day Two
Day two built on the opening sessions, emphasising actionable outcomes rather than reinvention of past B20 work. Panels and taskforce presentations focused on unlocking investment in Africa, sustainable infrastructure, digital inclusion, and equity financing for growth. Speakers stressed that growth must be “inclusive, not narrow or extractive,” with particular attention to women, SMEs, youth employment, and closing Africa’s infrastructure gap (estimated at $170 billion annually in lost productivity).
Highlights included:
- Calls for sustainable financing mechanisms to mobilise private capital for green energy, critical minerals, and regional integration under the African Continental Free Trade Area (AfCFTA).
- Discussions on energy transformation, critical raw materials, and carbon/private markets to support Africa’s renewable push.
- Emphasis on trade frameworks to boost intra-African industrialisation and global market access.
Major Announcements and Indications of Deals/Investments
While the B20 does not typically announce binding deals (its role is policy advocacy), day two featured strong signals of investment intent and legacy initiatives:
- Infrastructure and capital mobilisation — Repeated commitments to “unlock capital for sustainable infrastructure,” including equity investments in climate-friendly sectors. The International Finance Corporation (IFC) highlighted its role in equity financing for African projects.
- No specific dollar-figure deals were unveiled yesterday (the summit focuses on recommendations handed to G20 leaders on 22–23 November), but speakers referenced ongoing pledges from prior events, such as EU-led renewable energy campaigns totalling hundreds of millions in Africa.
- The Johannesburg Stock Exchange (JSE) CEO Leila Fourie announced positive momentum, noting South Africa’s removal from the FATF grey list, S&P credit upgrade, and market cap growth to R5 trillion (+27% YTD), positioning the country as “open for business” and attractive for FDI in niches like carbon markets and private equity.
- Side events (e.g., Bloomberg Africa Business Summit) explored energy transformation and startup funding, signalling potential follow-on investments.
The summit’s eight taskforces presented refined policy papers, calling for G20 action on debt relief, digital infrastructure, and climate adaptation financing — themes expected to influence the leaders’ communiqué.
Key Quotes From Speakers:
- Nonkululeko Nyembezi (B20 South Africa Chair): “Growth cannot be sustained if it is narrow, exclusive or extractive. Africa’s potential in achieving global sustainability and digital goals is vast — we are building on previous presidencies with actionable recommendations.”
- Leila Fourie (JSE CEO): “We have the opportunity at both B20 and G20 to position South Africa on the global stage as open for business and relevant… Our Top 40 index is up over 50% in dollar terms, outstripping emerging markets.”
- Ethiopis Tafara (IFC Vice-President): Outlined “the critical role of equity investment in advancing sustainable growth in Africa and beyond.”
- Dr Phuthi Mahanyele-Dabengwa (earlier B20 commentary): “This is not another talk shop. It’s Africa’s boardroom for the future… if we can green our industries and empower our youth, we can redefine global capitalism from Johannesburg.”
US and Chinese Business Participation Amid G20 Tensions
The B20 operates separately from the governmental G20, allowing robust private-sector engagement even as the leaders’ summit (22–23 November) faces high-profile absences.
- US business delegates — Fully participated despite President Trump’s full boycott of the governmental G20 (no US officials attending, citing policy disagreements). The US Chamber of Commerce sent a strong delegation and is set to formally receive the B20 presidency handover for 2026 (US hosts next). This underscores the separation: American CEOs engaged actively in panels on trade and investment, viewing the B20 as a vital channel for influence independent of political snubs.
- Chinese business delegates — Also present and active, represented through the China Council for the Promotion of International Trade (CCPIT) and major firms. This occurred despite President Xi Jinping skipping the G20 leaders’ summit (Premier Li Qiang attending instead — a common practice for Xi outside Asia). Chinese participants contributed to discussions on global supply chains, infrastructure, and Belt and Road synergies with African development.
This contrast highlights the B20’s resilience: while geopolitical frictions (US boycott, Xi’s absence, plus skips by Russia/Putin and Argentina/Milei) overshadow the leaders’ event, the business forum maintained near-full G20 representation, reinforcing private-sector commitment to multilateral cooperation.
Perspective and Outlook
The sessions held yesterday, reinforced optimism amid global uncertainty. Africa’s first B20 presidency has successfully amplified the continent’s voice, with delegates praising South Africa’s “turnaround story” (economic reforms, grey-list exit) as a model. Yet challenges persist: stubborn unemployment, debt burdens, and geopolitical divides risk diluting impact if recommendations remain unimplemented.
As the summit closes today, with President Ramaphosa expected to speak, the final policy communiqué will be handed to G20 leaders. Success will be measured not just by attendance but by whether pledges translate into tangible capital flows, potentially billions in infrastructure and green investments, helping Africa capture more than its current <3% share of global FDI. In a fractured world, the B20 Johannesburg demonstrated that business dialogue can bridge divides where governments falter, offering hope for “inclusive growth” ahead of the leaders’ gathering.
