Under South Africa’s leadership of the G20 from December 2024 to November 2025, a new Africa Expert Panel has been established to address the continent’s growing debt crisis. Chaired by former Finance Minister Trevor Manuel, the panel aims to generate concrete solutions to tackle the mounting debt burdens faced by many African nations.

The G20, consisting of 19 major economies, along with the African Union and European Union, is an influential platform for global economic dialogue. South Africa’s presidency marks the first time that G20 meetings, including the recent G20 Finance Minister and Reserve Bank Governor meetings held in Cape Town, are hosted on African soil. This provides South Africa with a unique opportunity to advocate for Africa-specific issues on the global stage.

The urgent focus of the panel stems from a stark financial reality: African countries are projected to pay nearly US$89 billion in external debt service this year, with 20 low-income nations at significant risk of debt distress. In many African countries, more than half of the population lives in nations where debt servicing outstrips spending on crucial social sectors like healthcare, education, and infrastructure.

The South African government has highlighted the unsustainability of this debt and its detrimental impact on poverty alleviation and sustainable development across the continent. The government has stressed that immediate and bold actions are needed to address this escalating crisis.

Panel’s Strategic Approach

The newly formed panel will provide expert advice and explore strategies to amplify Africa’s voice in global economic governance. One of its primary goals will be to enhance Africa’s representation in global decision-making bodies, particularly within the G20, and work towards a reformed global economic system that better serves the continent’s interests.

The panel will also focus on producing a High-Level Report, offering key recommendations on how to tackle Africa’s debt challenges and secure sustainable financial solutions for the continent.

Panel Composition

The panel brings together an impressive range of experts, economists, and development specialists from diverse backgrounds, including figures like:

• Joel Netshitenzhe, Executive Director of the Mapungubwe Institute for Strategic Reflection
• Anthony Musonda, African Development Bank Officer responsible for macro-economic policy and debt sustainability
• Carlos Lopes, Honorary Professor at the University of Cape Town’s Nelson Mandela School of Public Governance
• Daouda Sembene, CEO of AfriCatalyst
• David Luke, Professor and Strategic Director at the Firoz Lalji Institute for Africa
• Donald Kaberuka, Chairman and Managing Partner at SouthBridge
• Ester Duflo, Professor at the Massachusetts Institute of Technology
• François Bourguignon, World Bank Director of the School of Economics

In addition to these prominent figures, other distinguished members include economists and experts from institutions such as Stellenbosch University, Oxford University, and the World Bank, as well as policy leaders and development professionals from across the continent and beyond.

Moving Forward

With this new panel in place, South Africa’s G20 presidency is set to play a pivotal role in shaping international economic policy in ways that specifically benefit Africa. By leveraging its leadership within the G20, South Africa aims to foster practical solutions for African countries to manage and reduce their debt burdens, ensuring that the continent’s future economic growth and development are not hindered by unsustainable debt levels.

The panel’s work will be instrumental in guiding global policy towards a more balanced and equitable approach to debt management and development financing, positioning Africa to meet the challenges of the future with greater economic stability and prosperity.