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.

South Africa has downplayed the absence of US Treasury secretary Scott Bessent at a meeting of G20 finance chiefs, saying it believed the world’s biggest economy is still “committed” to the grouping as the gathering starts in Durban.

South African Finance Minister Enoch Godongwana said the Group of 20 advanced economies are nearing a deal on a communiqué.