US Treasury Secretary O'Neill and Rock Star Bono Visit Fintrac Clients in Uganda

Kampala, Uganda (June 6, 2002) - This week, US Treasury Secretary Paul O'Neill and Bono, lead singer of the rock group U2, wrapped up a highly publicized tour of development projects in four African countries. The duo visited Ghana, South Africa, Ethiopia and Uganda. Fintrac's high-value marketing adviser in Uganda, Dr. Steve New, guided the two on a visit to Ugandan Flower Exporters Association research station and neighboring farms, where they were able to see how local entrepreneurs have benefited from the technical assistance provided by Fintrac's horticultural specialists over the past five years under USAID's IDEA project.

The purpose of the "fact-finding" tour was to visit existing development projects in Africa and examine to what extent donor programs there are achieving desired results. In addition, it is expected that the publicity surrounding the tour will raise awareness concerning the state of Africa's welfare and development. On the agenda were visits to projects dealing with health, education, and private-sector growth.

The UFEA research station represents one of the solid success stories of USAID's program in Uganda, having enabled rose producers and exporters to successfully penetrate international markets, increase revenues and provide employment for hundreds of people. The secretary and the singer, impressed with the operation, asked Dr. New a number of questions concerning farmer revenues generated by exports, the different varieties of flowers developed for export (primarily roses and chrysanthemums), and the use of chemicals and other inputs in their production.

Secretary O'Neill spoke highly of the work being done with the flower producers following his visit to Uganda. "I visited a cut-flower factory, where local entrepreneurs are diversifying Ugandan exports by growing beautiful flowers and air-shipping them the same day to European markets.In the long-term, domestic entrepreneurship as well as trade and foreign investment are far more important for economic growth than official aid."