US Deputy Treasury Secretary Wally Adeyemo on Wednesday urged South Africa to step up its fight against corruption, saying the jobs could help boost job creation in a country facing 43% unemployment among under-35s. said.
In a speech prepared for the American Chamber of Commerce in Johannesburg, Adeyemo spoke about strengthening anti-corruption measures, continued efforts to accelerate South Africa's just transition to renewable energy, and the growth of a diverse service sector. underlined the need for measures to promote this.
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U.S. Treasury Secretary Janet Yellen delivered a similar message during a visit to South Africa about a year ago.
“Investment alone will not unlock economic potential,” Adeyemo said on the third day of a visit to the United States' largest trading partner in Africa.
“Our conversations with South Africans from diverse backgrounds have made it clear that corruption is hindering reliable energy progress and tackling all the other challenges facing this great country. ”
Mr. Adeyemo, whose visits also included visits to Cape Town, Pretoria and Johannesburg, were part of a joint effort to combat illegal wildlife trade, a trade that fuels corruption and organized crime, launched by the two countries during Ms. Yellen's visit last year. He stated that he is ready to strengthen the
“Building on this work, we will use international frameworks to fight corruption, promote transparency in various sectors, and ensure that resources are allocated efficiently for the benefit of all citizens. We want to make it happen,” Adeyemo said.
He noted that the U.S. Department of the Treasury recently released a national risk assessment on money laundering that reveals the cost of corruption in the United States and how to end it.
“No country is immune from these challenges. We humbly seek to be your partner as South Africans fight against corruption,” he said.
He said doing so would create a positive environment for job creation in South Africa, given the high youth unemployment rate and challenges in the education system.
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Mr Adeyemo's visit comes amid tensions between Washington and Africa's most industrialized economy over the Pretoria government's criticism of Russia's invasion of Ukraine in February 2022, and more recently of Israel's offensive in Gaza. This was done during the height of the outbreak.
Corruption is an ongoing challenge in South Africa, and last year it was added to the “grey list” of countries under special monitoring by the international financial crime watchdog Financial Action Task Force (FATF).
Mr Adeyemo also urged South Africa to invest in more transmission to accelerate the country's energy transition and solve its energy crisis, adding that more transmission investments are needed to modernize the grid and bring new generation sources online. appealed to summon the political will to take the necessary decisions.
Mr Adeyemo said that to ensure a smooth transition, South Africa also needed “appropriate economic incentives” to persuade companies to invest in extracting critical minerals.
“We can and must do this in a way that does not concentrate the benefits of investing in this sector in the hands of a few,” he said, adding that the United States is committed to building clean energy supply chains. He added that he stands ready to continue providing support. We invested in our workers and protected our environment.