Kaberuka Urges Japanese Businesses to Invest in Africa

The President of the African Development Bank Group (AfDB) Donald Kaberuka, malady drug has urged Japanese businesses to take advantage of the comparative cost of labour to invest in mutually beneficial production in Africa, Chimp  Corps report.

Speaking at the end of a two-day farewell visit to Tokyo this week, Kaberuka said both sides would benefit if Japanese authorities could assist their firms to set up businesses in Africa while urging African governments to enable such companies establish viable businesses especially in the energy sector.

He commended the decision to organize the sixth Tokyo International Conference on African Development (TICAD) in Africa in 2016, and underscored the need for the conference to build on the momentum and outcomes of TICAD V held in Yokohama in 2013, by scaling up the conversation between the governments and businesses on both sides.

Africa’s continued growth has sparked the interest of investors from industrialized nations, resulting in fierce competition for its resources and markets.

The aggressive economic expansion efforts by China and India, among others, come to mind.

According to Africa Renewal, Japan, however, has been a subtle but effective partner of Africa for the past 50 years. Through its donor arm, the Japan International Cooperation Agency (JICA), it has given aid in the form of grants and loans and invested with its own distinct style based on local ownership, peace, governance and human rights.

It also works with a wide range of international partners, including the UN, donors and the civil society, coordinating and implementing projects in the field.



During the Visit, Kaberuka met Prime Minister Shinzo Abe, the minister of finance and deputy prime minister, Taro Aso; the President of Japan International Cooperation Agency (JICA), Akihito Tanaka, and Central Bank Governor, Haruhiko Kuroda, among other top government officials and business leaders.

He also gave a talk on how to “further consolidate relations between Africa and Japan” at a luncheon attended by the African Diplomatic Corps in Japan.

Japan joined the African Development Fund (ADF) in June 1973 and the African Development Bank (AfDB) in December 1982.

Japan is the second largest contributor to ADF in cumulative terms after the United States and the third largest shareholder in the AfDB after the United States and Nigeria.

In addition to TICAD organized every five years since 1993, Japan collaborates with the Bank Group in many areas including the Japan Policy and Human Resources Development Grant (PHRDG) and the Joint Bank-Japan Enhanced Private Sector Assistance (EPSA) Initiative, among others.

The Bank opened its first external representation office in Tokyo in October 2012 and has been strengthening its ties

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