Japan asked to do business with Africa
AFRICAN presidents yesterday appealed to Japanese businessmen to invest on the continent.
The plea came on the final day of the sixth Tokyo International Conference on African Development (Ticad) in Nairobi.
Kenya’s President Uhuru Kenyatta led his colleagues Alpha Conde (Guinea), John Mahama (Ghana), Yoweri Museveni (Uganda), Muhammadu Buhari (Nigeria), Christian Kabore (Burkina Faso) and Patrice Talon (Benin) in asking for Japan’s investors to collaborate with Africa’s businessmen.
The presidents also pledged to push for more intra-Africa trade, job creation for the bulging youth population and to reform the laws to create “an enabling environment for private sector investment”.
“Africa’s untapped resources and its resilient economy are the right mix for investors,” said Kenyatta. “This is true both for investors from Japan and also for African investors. We must enhance intra-Africa trade. Ticad is here and it presents the opportunity for greater, richer partnerships. Increased investment and efficiency in these areas will go a long way in uplifting our economies and the lives of our people.”
Museveni reminded the Japanese delegation that for the 23 years of Ticad, the promise of opening Japan to African goods remained unfulfilled, yet Japan continued to sell cars and machinery and be part of projects in Africa.
“We’ve been consuming from Japan, meaning we have been supporting Japanese prosperity. When I was in the other Ticads, you said you wanted to open Japan’s market (to African goods and services). I don’t know what happened. Up to now that issue is not resolved,” said Museveni.
The presidents spoke shortly before Japan’s Prime Minister Shinzo Abe disclosed that at least 73 memo- randums of understanding had been signed between 22 Japanese companies and African countries. The deals cover investments in infrastructure, energy, security, finance, healthcare, food security, agriculture and academic exchanges.
Abe inaugurated the Japan-Africa Business Forum as a mechanism for business people to negotiate and cut deals.
Abe has pledged a $30 billion (R431bn) fund for Africa over the next three years.
The bulk of that money will come from the private sector.
“I hope Japanese and African companies will use this forum to establish a true and authentic business relationship,” he said. – ANA and CAJ
Premier pledged a $30bn fund for continent