South Africa's rand and stocks gained on Friday as investors turned their attention to the final day of the two-day Group of 20 finance meeting, which South Africa, the first African host nation, hopes to conclude with a formal communique.

This is not only a strategic investment — it is one that can boost growth, create business opportunities, and reduce pressure on public budgets in key member states,” said Klingbeil.

U.S. Treasury Secretary Scott Bessent will skip the meeting altogether, opting to head to Japan instead, according to Reuters. South Africa is also subject to a new 30% tariff rate, the only country in sub-Saharan Africa to be singled out in the latest round of announcements.

U.S. Treasury Secretary marked his second absence from a South Africa G20 event, though Washington assumes rotating presidency by end of year

G20 chair South Africa warned Thursday that abandoning the rules-based global order and declining cooperation could derail 2030 development goals to end hunger, eradicate extreme poverty and fight climate change.

U.S. Treasury Secretary Scott Bessent did not attend the two-day meeting in the port city of Durban, continuing a string of snubs by Trump administration officials.

Addressing leaders at the G20 Finance Ministers and Central Bank Governors (FMCBG) meetings, the SARB Governor highlighted the systemic risks posed by the insurance gap.

DURBAN (Reuters) -G20 finance chiefs agreed a communique on Friday that underscored the importance of central bank independence and the role of the World Trade Organisation in advancing trade issues.