Browsing: TICAD8 Tunis Declaration

The Tunis Declaration was adopted this year at the Eighth Tokyo International Conference on African Development (TICAD 8) with JICA and JETRO support. Photo/UNDP

Japan: TICAD 8 Tunis Declaration implications for Africa

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.’…

The closing of the business forum. Japan has pledged billions to help Africa with debt restructuring. www.theexchange.africa/

TICAD8: Billions to support African debt restructuring

Investing

Japan has pledged to prioritize quality over quantity in its aid to Africa. Prime Minister Fumio Kishida has pledged to maintain and expand Abe’s interest in Africa.

Tokyo has always financed a variety of projects in different sectors. A decade ago, Japan financed a new container terminal in Mozambique’s port of Nacala and Kenya’s main port, Mombasa. Now, renewables are favoured to promote development and maximize Japanese expertise.

Tokyo financed the April completion of Unit 6 at Kenya’s Olkaria geothermal site. It provided a US$746 million low-interest loan to finance the new project and the transmission lines needed to connect the plant to the rest of the country. Fuji Electric Global and Marubeni Corporation did the work. Japanese firms supply more geothermal turbines than the rest of the world combined, and JICA finances geothermal projects worldwide.…