African Priorities Take Center Stage at G20 Despite Tariff Tensions

Durban, July 17 — As G20 finance leaders prepare to convene in Durban, South African Reserve Bank Governor Lesetja Kganyago emphasized that Africa’s priorities — from climate change to a cross-border payment system — remain firmly on the agenda, despite growing global anxiety over trade tensions and rising tariffs.

Speaking to Reuters ahead of the official two-day summit beginning Thursday, Kganyago affirmed that the "African agenda" continues to receive broad recognition among delegates, with focused discussions already underway among deputies and senior officials. “The African issues have been elevated — all of us are talking about those,” he said.

Under President Cyril Ramaphosa’s leadership, Africa is chairing the G20 for the first time. South Africa has sought to use the historic opportunity to spotlight challenges unique to the continent, including the high cost of capital and the urgent need for climate resilience.

A central focus, Kganyago noted, is the push to establish a continent-wide cross-border payments system aimed at strengthening intra-African trade. “As African central banks, we have decided that we are going to enable the movement of payments across borders,” he said. “We are doing it not to bypass anybody, we are doing it because it will facilitate trade on our continent.”

The proposal, however, is expected to draw scrutiny from U.S. President Donald Trump, who has accused BRICS nations of promoting "anti-American" initiatives — including efforts to shift away from dollar-based transactions in favor of local currencies. Trump's administration has recently floated sweeping new tariffs, including a 10% baseline on all U.S. imports and targeted punitive rates aimed at specific sectors and countries.

The rising threat of protectionism, particularly from the United States, has become the dominant theme overshadowing this year’s finance talks. In a move that raised eyebrows, U.S. Treasury Secretary Scott Bessent opted to skip the meeting for the second time in a row. Michael Kaplan, acting Undersecretary for International Affairs, will represent the U.S. delegation in his stead.

Despite the simmering tensions, Kganyago downplayed the likelihood of a coordinated G20 response to the tariff threats. “Each country must tailor its strategy according to its specific economic realities — as we did during the COVID pandemic,” he said, emphasizing national resilience over collective retaliation.

Once a forum for addressing urgent global economic crises, the G20 has evolved into a broader platform for international policy dialogue. Whether it can maintain that relevance amid mounting geopolitical discord and shifting power dynamics remains to be seen — but for now, Africa is determined to make its voice heard.