G20 Summit to cost SA taxpayers more than R690m: Here’s what it will be spent on

South Africa will next year host the G20 Summit, which is a gathering of the world’s leading economies.

The government will prioritise R691 million for the summit, despite the country facing several challenges that need large sums of money.

The amount was revealed in a written parliamentary answer by the Minister of International Relations and Cooperation, Ronald Lamola.

Breakdown of the cost of G20 Summit

The minister was asked to give the cost amount of the summit and the progress in planning for it by DA MP Ryan Smith. Lamola outlined that sherpas meeting, foreign ministers’ meetings and the leaders’ summit will cost around R497 million.

The G20 Summit is hosted annually by different countries. The international forum, called the Group of Twenty in full, includes the European Union and 19 individual countries.

The summit in South Africa will run from 27 to 28 November 2025 and will discuss global issues and coordinate policies.

The G20 Sherpa Track meetings by Dirco will run from 1 December 2024 to 30 November 2025. “This amount covers all meetings under the purview of the department.” The sherpas are the representatives of each country that formulate the discussions and agreements that will take place at the final summit.

Hosting of G20 leaders

In addition to the almost R500 million that it will cost to host the actual summit, Lamola revealed that the government will spend R194 million to host the leaders and their support staff. The amount will cover their accommodation (R32 million), ground transport (R24 million), and domestic air travel (R12 million), among others.  

The amounts are yet to be approved by National Treasury.

ALSO READ: Biden commits to ‘working closely’ with Ramaphosa, to visit SA

Preparations underway

“South Africa will assume the rotational presidency of the G20, on 1 December 2024, immediately after the leaders’ summit, which Brazil will host on 18-19 November 2024,” reads the reply.

The first sherpa meeting will be held between 9 to 10 December 2024, followed by the first joint sherpa meeting of finance and central bank deputies meeting on 10 December 2024.

There is also a proposal to host approximately 130 meetings (both virtual and in-person) from 1 December 2024 to 30 November 2025. “The final decision on the hosting of the summit and the declaration of the G20 capital city will be made by the next meeting of the IMC.”

Provinces to pay for their own costs

When it comes to provinces and cities that will host G20 side events, they will be expected to carry those costs.

The G20 Summit countries are the European Union, Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkiye, United Kingdom, and United States.

NOW READ: SA faces another Putin dilemma over ICC warrant