Japan seeks new approach to scale up private investment in Africa
Date: Aug 17, 2017
Source: New Times By SHARON KANTENGWA
The Japanese government is set to scale up private investment in Africa as it readies to shift its intervention approach in Africa from the Official Development Assistance (ODA) to private investment.
According to Takashi Shibata, the deputy director, African Division, African Affairs Department, at the Japanese Ministry of Foreign Affairs, the new approach is aimed at making best use of competitive edge, infrastructure investment and human resource development through the Asian country’s African Business Education Initiative for Youth, better known as ABE Initiative.
The measures seek to develop infrastructure, build resilient health systems and lay the foundations of peace and stability, amounting to $30 billion under public-private partnership.
“These measures are in line with the priority areas in the Nairobi Declaration of the Sixth Tokyo International Conference on African Development (TICADVI), which includes human resource development covering 10 million people. The private sector activity will be promoted through such means and through productivity improvement,” Shibata said in a recent interview in Tokyo.
These goals, he said, will be steadily achieved by utilising the excellent science, technologies and innovation of Japan.
The deputy Director-General of African affairs in the department of the Japanese Ministry of Foreign affairs, Seiji Okada, said there have been talks between TICAD officials and the private sector in Japan, to open business in Africa and that the governments of the member countries are working with the Japanese officials to bring about a good business climate.