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- 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 …
- African Development Bank tells Japanese investors putting their money in the continent is profitable.
- Japan’s Foreign Direct Investments in Africa declined from $10 billion in 2016 to just $4.7 billion in 2020 during Covid-19, before picking up to $6 billion in 2021.
- According to AfDB, Africa accounts for only 0.003 percent of Japan’s $2 trillion global Foreign Direct Investments.
- Japan’s Prime Minister Fumio Kishida announced during the TICAD 8 Summit in Tunis last year $30 billion for Africa, including support for startups.
Africa is keen to increase Japanese investment in the continent, the African Development Bank (AfDB) has indicated amid growing interest from other countries including China, Europe and the US.
The move comes after a slump in Japan’s Foreign Direct Investments (FDIs) in Africa, which declined from $10 billion in 2016 to just $4.7 billion in 2020 during Covid-19, before picking to $6 billion in 2021.
According to AfDB, …