How can Africa contribute towards shaping a resilient global financial future?

Stephen Grootes speaks to Daniel Mminele, Nedbank Chairman about Africa's vulnerability to escalating global economic uncertainty and the need for the continent to lead reform efforts, particularly in sovereign debt architecture, global financial safety nets, and climate finance.

Listen to the interview in the audio player below.

A new paper, co-authored by Nedbank chairperson, Daniel Mminele is calling for South Africa and fellow African nations to be more involved in global financial reform.

It essentially calls on African nations to push harder for the reform of global institutions who handle money, such as the International Monetary Fund (IMF) and the World Bank.

One of the focal points is around how the debt of countries is managed, with developing nations, mostly African burdened with debt.

According to Mminele, Africa's vulnerability to escalating global economic uncertainty highlights the need for the continent to lead reform efforts, particularly in sovereign debt architecture, global financial safety nets, and climate finance.

Mminele says South Africa's 2025 G20 presidency presents a pivotal opportunity to drive meaningful change and advocate for a more resilient and equitable global economic order.

"Let's take this opportunity and highlight the role that Africa can and should be playing in future global economic development on the back of issues that are well known."

- Daniel Mminele, chairperson - Nedbank

"We're a young and growing continent, infrastructure development needs, abundant natural resources, the opportunities to leapfrog when it comes to technology..."

- Daniel Mminele, chairperson - Nedbank

"The issue is about, where is the longer-term orientation. Where is future growth going to come from? In 2050, if you take just the horizon...1 in 4 persons on the continent will be African, They'll be young, they'll be growing..."

- Daniel Mminele, chairperson - Nedbank

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