Held in Johannesburg from 19 to 21 June 2024, the event aimed to consider a new institutional framework for global economic governance that is better tailored to the current moment. The disillusionment with global economic governance is felt particularly acutely in Africa and among countries of the Global South more broadly. Demand is growing for more representative and equitable global institutions that are capable of managing the risks and opportunities of interdependence, such as accelerating climate change and rapid technological innovation.
A highlight of the event was the keynote address delivered by Mr Trevor Manuel, former minister in the South African government and anti-apartheid activist. In conversation with SAIIA Chief Executive Elizabeth Sidiropoulos, Mr Manuel shared insights into South Africa’s leadership in the global economy, the upcoming Finance Track of South Africa’s G20 presidency, and the evolving political dynamics within the country. His perspectives underscored the critical role of African voices in shaping global economic agendas.
Under Chatham House rules, the conference brought together a diverse group of participants from regional and international institutions, think tanks, civil society and academia. The deliberations explored pertinent topics such as the legacy of neoliberal economic models in Africa, the impacts of climate change on economic governance, and strategies for combatting illicit financial flows. Participants also examined the role of cities, international migration, internet access, and African priorities in reforming global economic governance.
Reflecting on the desired outcomes, SAIIA and Carnegie emphasised two primary objectives of the conference: to identify analytical and policy gaps for further research and innovation, and to pinpoint opportunities to influence global debates and decisions on the future of the international political economy. “The conference was not just about analysing the problem, but also identifying specific areas where progress could be made in the short and longer term,” said Ms Sidiropoulos. “As South Africa prepares to take over the presidency of the G20 in December 2024, considerations of where consensus may be achieved to drive certain reforms more quickly, will be crucial.”
Carnegie and SAIIA will publish a brief report, highlighting the conference’s key messages.
The event was made possible through generous support from the Hewlett Foundation to the Carnegie Endowment for International Peace.