Africa-Press – Angola. The Chairman of the African Union (AU) and Angolan Head of State, João Lourenço, called this Wednesday in Yokohama for increased Japanese investment and a commitment to the industrialization of Africa, within the framework of stronger cooperation in strategic areas that go beyond the mere exploitation of natural resources.
Speaking at the TICAD9 Business Fair, the President recalled that, during TICAD8, held in 2022, Japan announced a US$30 billion package of public-private financing for Africa, ranging from support to the private sector to human capital development and green growth initiatives.
According to João Lourenço, this commitment is proof of Japan’s commitment to the continent, particularly in areas such as food security, in which it has expressed strong commitment and which, along with other actions, contributes significantly to building ever-greater trust between the parties as partners driven by significant common interests.Despite this, the AU leader lamented that, in 2024, Africa received only 0.5% of Japanese foreign direct investment, in contrast to the 75% growth of global foreign investment in the continent.
“This figure does not reflect Japan’s true capacity in this area, nor Africa’s potential to absorb capital and transform it into profitable results,” he stated, noting that 60% of Japanese companies already established in Africa have experienced success and expanded their operations.
João Lourenço therefore considered it “imperative to intensify dialogue,” using the positive experiences of Japanese companies already present in Africa as an example to encourage others to invest.
“Therefore, I consider it imperative to intensify dialogue, leveraging the success stories of Japanese companies already present in Africa as powerful testimonies to encourage more Japanese companies to move from hesitation to entrepreneurial action on the African continent, where there are several promising areas,” he emphasized.He identified sectors such as minerals, energy, the shipbuilding and automotive industries, trains and electric vehicles, as well as agriculture, as priority areas for mutual growth.
The Angolan President also encouraged Japan to abandon a “merely extractive” vision of its relationship with Africa and invest in the local processing of raw materials, allowing it to accelerate the continent’s industrialization and generate greater economic value for both sides.
Looking ahead to the Fair, he considered it an ideal space to discuss business between the African continent and Japan, with a view to generating dynamics that will boost trade exchanges for Japanese investments in Africa and for African countries in Japan.
This success on the ground serves as convincing proof of Africa’s viability as a growing market.
The TICAD Business Fair is a platform for connecting African and Japanese businesspeople, aiming to foster strategic partnerships in sectors such as energy, agriculture, manufacturing, and the digital economy.
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