South Africa's G20 presidency this year will prioritise efforts to help developing countries finance their shift to a low-carbon economy, President Cyril Ramaphosa said, even as the United States radically scales back its support.

Ubuntu, a Bantu word meaning “humanity to others” or “I am because we are”, emphasises solidarity and harmony. South Africa’s G20 presidency aims to address global challenges and strengthen international cooperation based on respect for international law and humanitarian principles.

Finance ministers and central bank chiefs from the Group of 20 developed and developing nations have gathered in South Africa for a two-day meeting.