Small Business Development Minister Stella Ndabeni has announced preparations for the first-ever G20 Global Small Business Ministerial Meeting, set to take place from 22-24 July in Johannesburg. The high-profile gathering will bring together government and private sector leaders to address critical challenges facing small businesses worldwide, with a focus on access to finance and digital transformation.
Key Focus Areas
Minister Ndabeni emphasized that micro, small, and medium enterprises (MSMEs)—which make up 90% of all businesses and provide two-thirds of global jobs—often struggle with securing funding, particularly in developing nations.
“Access to finance remains the most pressing challenge, especially for early-stage businesses and those owned by women and youth,” Ndabeni stated. “Additionally, digital transformation and artificial intelligence are reshaping the sector. We must ensure MSMEs have affordable, accessible technology to drive innovation.”
International Collaboration
The event has garnered support from global stakeholders, including the International Trade Centre (ITC). Pamela Coke-Hamilton, ITC Executive Director, stressed the importance of including small businesses in G20 discussions amid ongoing economic uncertainties.
“With rising tariffs and unforeseen economic shifts, it’s crucial that MSMEs have a seat at the table,” Coke-Hamilton said. “This meeting will assess the implications of global trade dynamics for small businesses, particularly in South Africa.”
U.S. Participation Expected
Ndabeni expressed optimism about U.S. involvement, citing positive diplomatic engagements between South African President Cyril Ramaphosa and former U.S. President Donald Trump.
“We look forward to America’s participation,” she said, noting that a South African delegation will also attend the Global Entrepreneurship Congress in Indiana (June 2024) as part of pre-summit engagements.
Outcomes and Next Steps
The three-day program will feature:
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A closed-door session on actionable policy recommendations.
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A high-level public-private sector dialogue.
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A call to action with outcomes feeding into the main G20 Summit in November.
South Africa’s hosting of this landmark meeting underscores its commitment to boosting small business resilience, trade transformation, and inclusive economic growth.