Yellen arrived in South Africa on Tuesday on the third and last stop of her African tour after visits to Senegal and Zambia.
Yellen has made it clear that helping African countries boost their energy resources would be among her main priorities on the tour.“Minister Godongwana does hope to discuss load shedding and benefit from the expertise and experience of the US in addressing the crisis.
“During her engagements, Yellen will urge further action to evolve the multilateral development banks to better address global challenges like climate change, health and pandemics, and conflict and fragility, complementing these institutions’ work on poverty reduction and inclusive and sustainable economic growth,” the US government said.
“Without doubt, decarbonisation is the challenge of our generation. In recognition of this, the South African Cabinet has endorsed the national Just Energy Transition Investment Plan, as the basis for our pathway towards a low-carbon and climate-resilient society. The official said Godongwana would agree with Yellen that multilateral development banks and international financial institutions — such as the World Bank and the International Monetary Fund — must reform their operations so they can play a greater role in helping countries to counter climate change.
The SA Treasury official said South Africa was keen to take advantage of any of these opportunities if they served South Africa’s strategic aims. He noted: “South Africa and the US already had long-standing cooperation in addressing corruption, and cross-border crime, more generally.”The official said Yellen’s visit was an opportunity to “explore various avenues of deepening the already extensive economic and financial cooperation between the United States and South Africa.
“A meeting of this nature is important to maintain the relationship and map out future areas of cooperation, in what is a fast-changing and uncertain global environment.”
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