Browsing: Japan International Co-operation Agency (JICA)

• Organizations like the Japan International Cooperation Agency (JICA) have pioneered several African investment opportunities.
• Mitsui & Co Ltd has announced plans to resume constructing the multibillion-dollar Mozambique natural gas project.
• Toyota Tshusho covers automobiles, pharmaceuticals, beverages, and energy, employing over 22000 Africans.

Africa’s international relations are strengthening as the Japanese government seeks to shore up investment opportunities in Africa. The African Development Bank Group President Dr Akinwumi Adesina has been wooing investors from Japan to trade with Africa. His primary objective was to showcase the enormous investment opportunities within the continent that would improve its development in the long run.

The move comes even as Japan Prime Minister Fumio Kishida led his country’s charge with a tour of four critical economic points in Africa; Kenya, Egypt, Ghana and Mozambique.

A renewed Africa-Japan partnership confirmed by AfDB

The AfDB has been on a mission marketing various investment opportunities across African countries …

In the wake of the global economic slowdown, JETRO has opened a support desk to assist Japanese companies expansion in Africa and also helping African firms enter the Japan market, JETRO CEO Sasaki said.

The forum highlighted the importance of supporting startups, emphasis on green investment, development of human resources and Africa food security.

Through the JETRO forum, the Japanese business community launched an investment fund for startups in Africa valued at over 10 billion yen.

JETRO CEO Sasaki said the forum also catapulted launch of the Green Growth Initiative with Africa valued at 4 billion dollars that will finance public and private cooperation ‘toward a structural transformation to achieving net zero.’…

Among other things, through the Japan International Cooperation Agency (JICA), Japan has supported the Enhancement of the Private Sector Assistance (EPSA) for Africa initiative, which has been successfully implemented over three phases since 2007.

According to the AfDB media report, Japan has contributed approximately $5.2 billion to investments in sovereign and non-sovereign operations through this initiative.

The report also points out that Japan subsequently invested another $86.9 million in technical assistance and capacity building. Further still, at the just ended TICAD 8, Japan reiterated its funding commitment for the fifth phase of EPSA.…