Serrari Group

At the Japan-Africa Business Forum in Tokyo, leaders from the African Development Bank (AfDB) emphasized Africa’s increasing allure as a prime investment destination for Japanese corporations. Highlighting the continent’s robust growth potential and supported by the AfDB’s risk management initiatives, the forum showcased opportunities ripe for exploration.

Professor Kevin Chika Urama, Vice President and Chief Economist of the AfDB Group, outlined Africa’s lucrative private sector prospects, noting its competitive returns on investment globally. “Strategic investments in Africa not only yield financial gains but also contribute to sustainable development,” Urama stressed.

Dr. Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth, underscored Japan’s expertise in geothermal technology, which has significantly impacted Africa’s energy landscape. He highlighted Japan’s pivotal role in Kenya’s geothermal sector through Mitsubishi’s technological leadership and discussed Africa’s potential to address Europe’s energy needs via planned interconnections and hydrogen exports.

Organized by the AfDB and Keizai Doyukai, Japan’s Association of Corporate Executives, with support from Japan’s Ministry of Finance, the forum aimed to foster deeper economic cooperation between Japan and Africa. Kazuko Nagura from Japan’s Ministry of Economy, Trade and Industry (METI) announced plans for the upcoming Japan-Africa Public-Private Economic Forum, designed to facilitate Japanese companies’ expansion and networking opportunities in Africa.

Solomon Quaynor, AfDB’s Vice President for Private Sector, Infrastructure, and Industrialization, highlighted the transformative impact of the Fourth Industrial Revolution (4IR) on Africa’s economic landscape. “Technological advancements can significantly enhance productivity across sectors, driving inclusive economic growth,” Quaynor emphasized. He detailed the AfDB’s initiatives to nurture Africa’s startup ecosystem and enhance human capital through partnerships with global technology leaders like Intel.

Yacine Fal, Special Representative of the AfDB President to the Africa Investment Forum, underscored the forum’s critical role in attracting investments across key sectors such as agriculture, energy, transport, healthcare, and ICT. Fal commended Japanese investors and business leaders for their active participation in recent events, citing the success of the 2023 Market Days in Marrakech as evidence of growing Japanese interest in African markets.

Earlier discussions reaffirmed the commitment between Keizai Doyukai and the AfDB to strengthen economic ties ahead of the Tokyo International Conference on African Development (TICAD9).

The Japan-Africa Business Forum not only highlighted Africa’s appeal as a promising investment hub but also underscored the AfDB’s role in facilitating sustainable investments that contribute to Africa’s socio-economic advancement.

Photo source: Google

By: Montel Kamau

Serrari Financial Analyst

24th June, 2024

Share this article:
Article and News Disclaimer

The information provided on www.serrarigroup.com is for general informational purposes only. While we strive to keep the information up to date and accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

www.serrarigroup.com is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information on the website is provided on an "as-is" basis, with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

In no event will www.serrarigroup.com be liable to you or anyone else for any decision made or action taken in reliance on the information provided on the website or for any consequential, special, or similar damages, even if advised of the possibility of such damages.

The articles, news, and information presented on www.serrarigroup.com reflect the opinions of the respective authors and contributors and do not necessarily represent the views of the website or its management. Any views or opinions expressed are solely those of the individual authors and do not represent the website's views or opinions as a whole.

The content on www.serrarigroup.com may include links to external websites, which are provided for convenience and informational purposes only. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorsement of the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, www.serrarigroup.com takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

Please note that laws, regulations, and information can change rapidly, and we advise you to conduct further research and seek professional advice when necessary.

By using www.serrarigroup.com, you agree to this disclaimer and its terms. If you do not agree with this disclaimer, please do not use the website.

www.serrarigroup.com, reserves the right to update, modify, or remove any part of this disclaimer without prior notice. It is your responsibility to review this disclaimer periodically for changes.

Serrari Group 2023

 

×