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US Treasury Secretary Janet Yellen to Strengthen Ties with Africa

US Treasury Secretary Janet Yellen will be traveling to Senegal, Zambia, and South Africa to strengthen ties with a continent that has been the focus of Chinese trade and investment for years.

Janet Yellen
Janet Yellen

This trip marks the first time a member of President Joe Biden's cabinet has embarked on a lengthy African trip.

US Promises Significant Investment and Trade Partnerships

The new United States' new approach includes promising and delivering significant investment and trade partnerships, not just humanitarian aid and security assistance, administration officials said. "We believe that Africa's growth will be a key driver of global growth over the coming decades," a senior Treasury official said.

Yellen to Discuss Energy, Food Security, Debt Issues and Infrastructure Investments

During the trip, Yellen will meet government and private sector officials in the three countries to discuss energy, food security, debt issues and infrastructure investments, senior Treasury officials said. In Senegal, she will meet the leader of the African Union, President Macky Sall.

Yellen's Visit to Strengthen Longstanding US Ties to African Nations

Yellen's visit is intended to deepen longstanding US ties to African nations and offer sustainable, high-quality investments that "don't weigh down recipient countries with unsustainable debt burdens," the Treasury official said, without offering specifics. She will also be discussing debt restructuring and sustainable choices in areas such as infrastructure, digital transformation and climate change with African leaders.