How SA hosting the G20 boosts Africa’s image :: Mmegi Online

Perceptions of Africa as a hopeless continent of misery and despair, are being overturned one stereotype at a time. South Africa’s hosting of the G20 and B20 this week shows that Africa is the continent of the future. MBONGENI MGUNI speaks to Brand SA CEO, Neville Matjie

The negative global perceptions of Africa are not harmless or something to brush off or live with. They have a real cost to the continent; about $75 billion annually in disproportionately high interest rates on loans Africa seeks from the world. Known as the “African premium” that huge cost means governments dig deeper to finance development and their citizens’ most primary needs, when compared to the rest of the world.

South Africa’s hosting of the G20 presents an opportunity to roll back perceptions and rightly position Africa as the continent of the future. Member states of the Group of 20 collectively account for around 85% of the global economy, 75% of international trade and 56% of the global population.