The DA has called on the private sector to help with the R700 million to be spent by the government to host the G20 Summit next year.
It was revealed that the country will need at least R700m to host the event which seeks to discuss possible partnerships with like-minded countries of the world.
In February, President Cyril Ramaphosa’s office reported that the sixth administration expressed its confidence in South Africa’s ability to host a G20 Summit, drawing upon its track record of successfully organising major events such as the BRICS Summit and the African Growth and Opportunity Act Forum.
In an address to the Cabinet, Minister in the Presidency Khumbudzo Ntshavheni said the occasion would be a seminal one for the country as it would be the first country in Africa to host such a gathering.
This occasion is not only unique because of the anticipated numbers but also of its envisaged enduring impact.
On Wednesday, the DA, through its deputy spokesperson on International Relations and Co-operation Ryan Smith MP, said in Parliament that more than R700 million would be required for the occasion.
Smith said: “The cost breakdown as it stands is R194 million for the Leader’s Summit, and R497 million for the Sherpa Track meetings held by the Department of International Relations and Co-operation, which oversee negotiations, set the summit’s agenda, and co-ordinate most of its work.
“South Africa’s G20 budget is modest at best in comparison to other developing nations such as India, whose budget to host the G20 Summit in 2023 is, as it stands, approximately R1 billion, pending outstanding appropriations which could push the figure even higher.”
The DA has called on Ramaphosa to consider partnering with the private sector to ensure a successful showing.
“We call on President Cyril Ramaphosa to partner with the private sector to obtain finance and support to plug any potential budgetary shortfalls, to ensure that South Africa can host a world class G20 Summit and showcase the best of our country to the world and the international community. South Africa’s G20 Summit must be a success, while not negatively impacting the fiscus or placing further pressure on an already overburdened tax base,” Smith said.
He said the DA would submit a comprehensive list of expected outcomes for South Africa from the G20 Summit to Ramaphosa in the coming weeks.
This, he said, would ensure that the money spent on the summit provided tangible benefits to the South African people by means of increased trade, job creation, and economic growth fostered by closer bilateral and multilateral agreements with member states.
The Star