US ready to partner with SA to address greylisting, corruption - US Treasury DS

The US is ready to be a partner to the South African people in growing an economy that works for everyone, is the word from Washington.

Wally Adeyemo, Deputy Secretary of the United States Treasury, addressed the media in Johannesburg during his week-long visit to South Africa.

He highlighted three areas the US sees as key to unlocking our economic potential:  reliable power, deepening the connection to the global economy  (especially the clean energy supply chain), and stemming the tide of corruption. 

Adeyemo also highlighted the need for South Africa to increase its anti-corruption efforts.

Bruce Whitfield asked Adeyemo about US action in terms of American companies found to be involved with corrupt activities here in South Africa. What does this say about Washington's own checks and balances? he asks.

The Deputy Secretary clarifies that he'd noted in his address that recently his department of the US Treasury had put out their national action plan related to anti-money laundering.

Their discussion focused on the impact of corruption in the US, and the actions they do need to deal with that.

"So, we come at this conversation humbly, but say that we want to partner with the South African people who've made a commitment rooting out corruption in their country, because fundamentally corruption is a  tax imposed by the wealthy and the powerful on average citizens."

"Our goal is to work closely with South Africa as they make progress to deal with greylisting, but also more broadly to try and root out corruption in order to make sure that money is invested in the economy, not illicitly put in the pockets of corrupt individuals." 

Wally Adeyemo, Deputy Secretary - US Treasury 

Ahead of his visit, Adeyemo said he'd be meeting government counterparts but spending the bulk of his time with students, entrepreneurs, and businesses to hear 'how we can be a better partner to the South African people'. 

Returning to the theme of corruption during his address, he said his conversations with South Africans from a diversity of backgrounds have made it clear that progress on reliable energy and addressing all the other challenges we face, is inhibited by corruption. 

During his interaction with local business people, he was particularly interested in clean energy products.