Beijing – Global South needs to expand and explore new pathways to development that not only ensure access to more capital, but also ensure sustainable and inclusive growth.
Jonathan Titus Williams, the deputy minister of development and economic planning in West Africa, was the keynote speaker at the 2025 Global South Finners Forum held in Beijing on March 20th.
“Country must diversify its funding efforts to create a robust, adaptive and inclusive global economy,” Williams said.
“Different approaches to fundraising include multilateral development, innovative public-private partnerships, and a wide range of mechanisms that can be reached for impact investment.”
He said this includes social debt, digital policy and digital partnerships, and that needs to move to a new model where public funds can leverage private investment.
“A growing economic pressure and geopolitical tension on the common impact of an innovative, flexible and cooperative approach from humanity, on the impending reality of climate change and the common impact of a global pandemic.”
Tailored Solutions
“In addition, we need to make sure that solutions are tailored to the unique needs of each country to respect the specific challenges and circumstances,” Williams said.
“A one-size-fits-all approach won’t work. Developing countries need to access funding, such as infrastructure, healthcare, education, planning, or adaptation, and support specific developmental goals.”
At the same meeting, Andre Du Plessis, CEO of Standard Advisory (China), a subsidiary of Standard Bank, said, “As we navigate the rapidly changing world economic landscape, countries in the Global South are finding themselves at pivotal moments, blessed with unprecedented opportunities and facing prominent challenges.”
As a key member of the Global South, for Africa, a multilateral and comprehensive approach is essential to economic development, Duplesis said, calling for greater cooperation in financial cooperation.
“When Global South acts, its future development prospects look even more promising,” he said.
The China Conference came when it appeared that the US was witting down by supporting development, but Beijing has shown continued interest there.
The forum, hosted by China’s state-run news agency Xinhua News Agency, was attended by representatives from government departments and financial institutions, as well as experts from over 30 countries and regions.
The organizers said, “Finance cooperation is an important area for the Global South to achieve Winfine’s results and a common problem facing the Global South at the time.”
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At the end of the conference, participants called for “to allow the global South financial community to fully unleash the vitality of the market, identify key areas of multilateral cooperation, and create a favorable environment for cross-border trade and investment.”
They said “efforts should be made to boost mutual support, increase financial support for infrastructure, food security and public health, and to crack down on illegal financial activities to protect the rights and interests of financial consumers.”
Other forum partners were China Securities Journal, Shanghai Securities News, Economic Information Daily, China Fortune Media Group, National Financial Information Centre, China State Construction Engineering Corporation and Fenjiu Group.
Xinhua paid for Peter Kenny’s accommodation and accommodation in Beijing.
