Browsing: Fumio Kishida

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.

For example, it was discovered that at least five African start-ups that were pitched at the combined events had received investments from Japanese venture capitalists.

When it comes to assisting African nations in accelerating their work toward achieving the Sustainable Development Goals and the African Union’s Agenda 2063, Japan’s leadership and development experience, as well as its business know-how, innovations, and technologies, all have an important part to play.

There has never been a time when the need to find new ways to align and leverage the private capital of the world towards increased sustainability was more pressing than it is now in the wake of escalating crises such as the Covid-19 pandemic, the war on Ukraine, and the cost-of-living crisis brought on by climate change.

The 8th Tokyo International Conference on African Development (TICAD 8) is a summit-level international conference on African development that was initiated by Japan. It brings together Heads of State and Government from Africa, Japan, and their partners to engage in dialogue on issues related to economic growth, trade and investment, sustainable development, human security, and peace and stability in Africa.

During this edition, the Tunisian private sector will offer 81 investment projects totalling US$2.7 billion dollars to investors from Africa and Japan. 37,750 employment opportunities will be created by the initiatives listed in a white paper by the Tunisian-Japanese Chamber of Commerce and Industry (CCITJ).

The 128-page white paper includes proposed projects by firms. This is in addition to new projects and those that are already in place and looking for possible partners. These initiatives will be carried out as a result of a triangular relationship between Japan, Tunisia, and other African nations in fields with a high added value.

Some of these projects include 21 in the green and blue economy, the digital industry, artificial intelligence and space technologies (20), pharmaceutical and medical (17), industrial (12), infrastructure and logistics (9) and two in finance.