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Cape Town - Finance Minister Nhlanhla Nene, National Treasury director general Dondo Mogajane and SA Reserve Bank governor Lesetja Kganyago are representing South Africa at the first G20 meeting of Finance Ministers and Central Bank Governors of 2018 in Argentina.
Both Treasury and SARB confirmed to Fin24 on Monday the attendance of Nene, Mogajane and Kganyago as part of the South African delegation.
The Group of Twenty, or G20, is a global economic forum that includes the world’s largest economies. South Africa is the only member from Africa.
Nene took over from former finance minister Malusi Gigaba on February 26 when he was appointed finance minister for a second time in President Cyril Ramaphosa’s maiden Cabinet reshuffle.
During his first stint as head of the finance ministry between May 2014 and December 2015, he represented South Africa at previous G20 summits.
Nene’s attendance at the summit comes at the tail end of an international roadshow, where Treasury, SA business and labour groups talked up SA Inc to investors.
Global Tax
In a media release on Monday afternoon the G20 summit organisers said discussions over the next two days would centre on the global financial architecture, the global tax system, financial regulation, and the technology behind cryptocurrencies.
“Finance ministers and central bank governors will also examine how to achieve an inclusive global tax system. They will analyse how the digital economy generates value, where that value is created, and how taxes can be reported and collected fairly, efficiently, and effectively without creating barriers to innovation,” read the statement.
“Promoting digital inclusion is a further issue on the agenda, specifically how to take advantage of opportunities created by the digitalisation of the economy to ensure the financial inclusion of people living in vulnerable circumstances.”
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