Ulf Engel

After seven years of advocating for full membership, the African Union (AU) will join the Group of 20 “most important industrialised and developing economies”. It becomes the second regional bloc to join the group after the 27-member European Union (EU).

The G20 was established after the 1999 Asian financial crisis as an informal grouping of ministers of finance and central bank governors. It grew out of the G7, which was formed in 1975 to deal with another complex global financial and economic crisis.

Since 2008, the G20 has met at the level of heads of state and government. Its agenda has been broadened beyond finance and economics to include, among other issues, climate change, disaster risk reduction and health.

The G20 is currently made up of 19 member states (including South Africa) plus the EU. These members collectively account for about 85% of global economic output, more than