As one of the key political and economic forums in the world, the G20 Summit was created to facilitate a stable and peaceful world through promoting several development agendas. Decisions taken by this forum help to support reform at the national and international levels. Since its creation in 2012, the T20 has comprised think tanks that aim at developing research and evidence-based briefs and recommendations to guide governments in policy development. The T20 Africa Standing Group established in 2017 should monitor the extent to which its policy recommendations on Africa-related issues have influenced and impacted policies and plans that emerge out of the G20.
Economic growth in Africas largest economies improved in the second quarter of 2017 (2017Q2) relative to the preceding quarter (2017 Q1), as Nigeria and South Africa exited recession. Specifically, GDP growth rate was 0.55 percent and 1.1 percent for Nigeria and South Africa in 2017Q2, compared to 0.91 percent and 0.7 percent in 2017Q2, respectively. The increased growth in Nigerias economy was driven by improved performance in the oil sector (increased crude oil price and production) which offset the decrease in non-oil sector growth, while South Africas emergence from recession is supported by growth in its agriculture sector complimented by growth in finance, real estate, business service, mining and quarrying sectors.