November 9, 2007
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Treasury Secretary Paulson Travels to Africa
Treasury Secretary Henry M. Paulson, Jr. will travel to Tanzania, South Africa, and Ghana next week to attend the meeting of G-20 Finance Ministers and Central Bank Governors and discuss the positive economic changes taking place on the continent with government and business leaders.
Africa is experiencing its highest rates of growth and lowest levels of inflation in 30 years, prompting increasing investor interest in the continent. Secretary Paulson will use his trip to discuss the underpinnings of Africa's recent growth and explore ways in which the international financial community can further support Africa's development. Additionally, Secretary Paulson will be highlighting the importance of conservation efforts in Africa and the complementary role they play with economic growth.
The Secretary will depart on Nov. 13 and arrive in Arusha, Tanzania on Nov. 14. On Nov. 15 he will co-host with Tanzanian Finance Minister Zakia Meghji a discussion on regional financial integration with the other finance ministers of the East African Community. While in Arusha he will also visit an innovative land trust and tour a mosquito net factory.
He will then travel to Cape Town, South Africa where he will deliver remarks on Nov. 16 at the U.S.-Africa Business Summit organized by the Corporate Council on Africa. While in Cape Town he'll also tour a cookie factory that employs disadvantaged women from a neighboring township, illustrating the importance of spreading economic opportunity. He will attend the meeting of G-20 Finance Ministers and Central Bank Governors in Kleinmond, South Africa on Nov. 17 and 18.
On Nov. 19, Secretary Paulson will be in Ghana to meet with President John Kufuor and co-host with Ghanaian Finance Minister Kwadwo Baah-Wiredu a meeting with private-sector financial leaders on financial sector development in West Africa following a tour of the Ghana Stock Exchange. Later that day he will be joined by U.K. Chancellor of the Exchequer Alistair Darling and African Development Bank President Donald Kaberuka to discuss infrastructure investment during a tour of Akosombo Dam.
The following events are open to the press:
What Visit Manyara Ranch and Meet with Community Leaders When Thursday, November 15, 8:00 a.m. Local Time Where Manyara Ranch
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What Tour A to Z Mosquito Net Factory When Thursday, November 15, Time TBA Where Unga Limited Industrial Area
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What Remarks to Corporate Council on When Friday, November 16, 8:00 p.m. Local Time Where
Convention Square
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What Visit Khayelitsha Cookie Company When Sunday, November 18, Time TBA Where Khayelitsha Township
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What Tour of Akosombo Dam When Monday, November 19, Time TBA Where
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