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US Treasury secretary Janet Yellen visited a Ford Motor plant in Johannesburg, the South African capital, on her 10-day visit to Africa. As scheduled, she also met her counterpart- finance minister Enoch Godongwana.
US Treasury secretary Janet Yellen visited a Ford Motor plant in Johannesburg, the South African capital on her 10-day visit to Africa. As scheduled, she also met her counterpart- finance minister Enoch Godongwana. Importantly, Ford has two car-making plants in South Africa.
Yellen said that a thriving Africa meant a larger market for US goods and services. That would open up more investment opportunities for businesses from the US, creating large investment and employment opportunities in Africa. Incidentally, the US is the largest trading partner of South Africa.
This is a part of U.S. efforts to re-engage with African countries. Last month, in Washington, the US-Africa summit was held, which was attended by a good number of African heads of state, where the US has announced a massive Africa -focussed financial and technical package.
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The U.S. ambassador to the United Nations, Linda Thomas-Greenfield, is also on a tour to Africa. President Joe Biden also expressed his intention to visit Africa this year either preceded or followed by a tour of Vice President Kamala Harris. The increasing engagements of the western countries to partner with Africa are said to be the result of an aggressive stand on Africa taken by China and Russia. The latter, of late, has considerably upped its presence in Africa.
