HILARY JOFFE: Exorbitant cost, but G20 could benefit SA on global stage
Logistics will be easier to pull off than the task of leading the Group of 20 and its fractious members
Ahead of the official launch of SA’s Group of 20 (G20) presidency on December 1, the government has reached out to corporate SA for a large sum of money to help with the costs of a year-long mega-event that will be the largest and most complex the country has ever hosted.
The sum that is being sought is said to be as large as R1bn. That’s over and above the costs organised business will incur to host the B20 (Business 20), one of several “engagement” forums that feed into the G20 leaders’ summit. It’s also over and above the costs of the private venues the government will use, for free, to host meetings across the country. All the big banks have been asked for venues; Investec will host the first big meeting of finance ministry and central bank officials on December 11-12, for example...
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