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  •   Following the announcement of an additional 5 billion for the Enhanced Private Sector Assistance EPSA program https bit ly 3QoLwa2 of the African Development Bank https www AfDB org of the Government of Japan the Bank s Central Africa Regional Development and Business Implementation Office is seeking to engage private sector organizations in the region with economically viable investment projects Serge N Guessan Director General of the African Development Bank for the region said The Bank is very interested in supporting investments by private developers in Central Africa as they are essential for economic growth and job creation in this region important region of the continent The financing of the EPSA Program will contribute enormously to achieving this noble development goal The announcement made in Tunis during the Eighth Tokyo International Conference on African Development TICAD8 comprises 4 billion under EPSA 5 2023 2025 and is complemented by 1 billion for a new special window to support African countries undertaking reforms to promote transparency and debt sustainability EPSA 5 aims to address four key priorities energy connectivity health and agriculture and nutrition EPSA s non sovereign operations component helps finance the Bank s private sector operations through a credit line from the Japan International Cooperation Agency JICA to the Bank on concessional terms To date seven non sovereign loans have been signed with JICA for a total of 1 5 billion Examples of financed private investment include infrastructure Bujagali Hydroelectric Power Station Uganda RASCOM the first pan African communication satellite the East African Submarine Cable System the Lekki Toll Road Nigeria and the Water Supply to Bulk from Kigali Rwanda etc Credit lines for regional development finance institutions went to the West African Development Bank the African Commercial Insurance Agency the Africa Finance Corporation the East African Development Bank and various commercial banks EPSA loans also financed programs to assist small and medium sized enterprises in Tanzania and Zambia as well as sector specific equity funds such as the Africa Agriculture Fund the Emerging Market Fund and equity investments in the creation of the foreign exchange hedging facility TCX Industries also benefited from funding as evidenced by Lake Harvest Zimbabwe aquaculture project OLAM major agricultural company investing in Africa and Moulin Moderne du Mali foodstuffs Interested private developers within the Central Africa region should contact Bappa Se Marc Ghislain email m bappase afdb org
    Enhanced private sector assistance from the African Development Bank to the Central Africa region to strengthen engagement with the private sector
      Following the announcement of an additional 5 billion for the Enhanced Private Sector Assistance EPSA program https bit ly 3QoLwa2 of the African Development Bank https www AfDB org of the Government of Japan the Bank s Central Africa Regional Development and Business Implementation Office is seeking to engage private sector organizations in the region with economically viable investment projects Serge N Guessan Director General of the African Development Bank for the region said The Bank is very interested in supporting investments by private developers in Central Africa as they are essential for economic growth and job creation in this region important region of the continent The financing of the EPSA Program will contribute enormously to achieving this noble development goal The announcement made in Tunis during the Eighth Tokyo International Conference on African Development TICAD8 comprises 4 billion under EPSA 5 2023 2025 and is complemented by 1 billion for a new special window to support African countries undertaking reforms to promote transparency and debt sustainability EPSA 5 aims to address four key priorities energy connectivity health and agriculture and nutrition EPSA s non sovereign operations component helps finance the Bank s private sector operations through a credit line from the Japan International Cooperation Agency JICA to the Bank on concessional terms To date seven non sovereign loans have been signed with JICA for a total of 1 5 billion Examples of financed private investment include infrastructure Bujagali Hydroelectric Power Station Uganda RASCOM the first pan African communication satellite the East African Submarine Cable System the Lekki Toll Road Nigeria and the Water Supply to Bulk from Kigali Rwanda etc Credit lines for regional development finance institutions went to the West African Development Bank the African Commercial Insurance Agency the Africa Finance Corporation the East African Development Bank and various commercial banks EPSA loans also financed programs to assist small and medium sized enterprises in Tanzania and Zambia as well as sector specific equity funds such as the Africa Agriculture Fund the Emerging Market Fund and equity investments in the creation of the foreign exchange hedging facility TCX Industries also benefited from funding as evidenced by Lake Harvest Zimbabwe aquaculture project OLAM major agricultural company investing in Africa and Moulin Moderne du Mali foodstuffs Interested private developers within the Central Africa region should contact Bappa Se Marc Ghislain email m bappase afdb org
    Enhanced private sector assistance from the African Development Bank to the Central Africa region to strengthen engagement with the private sector
    Africa3 weeks ago

    Enhanced private sector assistance from the African Development Bank to the Central Africa region to strengthen engagement with the private sector

    Following the announcement of an additional $5 billion for the Enhanced Private Sector Assistance (EPSA) program (https://bit.ly/3QoLwa2) of the African Development Bank (https://www.AfDB.org/) of the Government of Japan, the Bank's Central Africa Regional Development and Business Implementation Office is seeking to engage private sector organizations in the region with economically viable investment projects.

    Serge N'Guessan, Director General of the African Development Bank for the region, said: “The Bank is very interested in supporting investments by private developers in Central Africa, as they are essential for economic growth and job creation in this region.

    important region of the continent.

    The financing of the EPSA Program will contribute enormously to achieving this noble development goal.” The announcement, made in Tunis during the Eighth Tokyo International Conference on African Development (TICAD8), comprises $4 billion under EPSA 5 (2023-2025), and is complemented by $1 billion for a new special window to support African countries undertaking reforms to promote transparency and debt sustainability.

    EPSA 5 aims to address four key priorities: energy, connectivity, health and agriculture, and nutrition.

    EPSA's non-sovereign operations component helps finance the Bank's private sector operations through a credit line from the Japan International Cooperation Agency (JICA) to the Bank on concessional terms.

    To date, seven non-sovereign loans have been signed with JICA for a total of $1.5 billion.

    Examples of financed private investment include infrastructure: Bujagali Hydroelectric Power Station (Uganda), RASCOM (the first pan-African communication satellite), the East African Submarine Cable System, the Lekki Toll Road (Nigeria) and the Water Supply to Bulk from Kigali (Rwanda), etc.

    Credit lines for regional development finance institutions went to the West African Development Bank, the African Commercial Insurance Agency, the Africa Finance Corporation, the East African Development Bank and various commercial banks.

    EPSA loans also financed programs to assist small and medium-sized enterprises in Tanzania and Zambia, as well as sector-specific equity funds such as the Africa Agriculture Fund, the Emerging Market Fund, and equity investments in the creation of the foreign exchange hedging facility.

    TCX.

    Industries also benefited from funding, as evidenced by Lake Harvest (Zimbabwe aquaculture project), OLAM (major agricultural company investing in Africa) and Moulin Moderne du Mali (foodstuffs).

    Interested private developers within the Central Africa region should contact: Bappa Se Marc Ghislain, email: m.bappase@afdb.org

  •  The Japanese International Cooperation Agency JICA had supported three Nigerian startups with the sum of 15 000 each to develop their innovative ideas towards becoming entrepreneurs and achieving the digital economy agenda The seed fund was given on Tuesday at the Demonstration Day of the first Cohort of the Idea Hatching iHatch Startup Incubation Programme It wasorganised by the National Information Technology Development Agency NITDA in collaboration with JICA in Abuja The iHatch programme was championed by Office for Nigerian Digital Innovation ONDI a subsidiary of NITDA The News Agency of Nigeria reports that in March 2022 the first cohort a five month programme began with over 5 000 applications that were received while eight were selected to pitch their ideas The winner of the demonstration was Betalife a health tech startup company that offers 247 real time blood donation tracking and blood requests The second position was won by Xolani Health Limited an Artificial Intelligence assisted tool that support clinical decision making for healthcare workers in low resource settings The third place winner was Every Farmer a solution that focuses on accessing funds for agricultural value chain Ms Favour James Founder Betalife who was happy said the seed fund would be channeled to marketing and creating awareness for solutions We are going to utilise the money in engaging more professionals and in our marketing strategy because blood donation is not a popular thing in Nigeria We will also invest in building collaboration between hospitals and blood banks James said Mr Susumu Yuzurio Chief Representative JICA Nigeria congratulated the startups while acknowledging that all of them were winners in their respective manners Yuzurio encouraged them to sustain the knowledge they had acquired towards building a digital economy for the nation Mr Kashifu Inuwa Director General of NITDA at the demonstration by the startups said that the programme was targeted at refining business ideas of the innovators and developing the digital economy agenda This partnership is in furtherance to the commitment of NITDA in sustaining the promotion and growth of digital innovation and entrepreneurship promotion of indigenous content derived from of the seven pillars of our Strategic Roadmap and Action Plan SRAP 2021 2024 This is to increase the number of Innovation Driven Enterprises IDEs viz a viz sustaining the growth of Nigeria s digital economy The partnership with JICA in the implementation of the iHatch programme is part of our initiatives to strengthen the tech and innovation ecosystem This is for the creation of more IDEs that will invariably contribute to creation of jobs for our teeming youth and the prosperity of our country Inuwa said He added that programme took the startups through a series of coaching lectures and boot camps to generate scalable and adaptable business models in the country Onuwa recalled the selection process assessed the startups ideas based on the criteria of profitability scalability social impact idea technique competitive advantage experience and a clearly defined future roadmap The DG said that the agency and JICA would be extending the third cohort across the six geo political zones of the country by the end of the second Cohort that would also span to five months He said NITDA remains committed to working with relevant stakeholders and partners in implementing programmes and initiatives that will accelerate innovation They will provide the much needed jobs for our youths while also nurturing their entrepreneurial spirit to catalyse the Nigerian digital economy to the next level Mr Nao Fuwa JICA expert urged the startups to think of why they studied business and why they considered opening a business Brushing up a business model is important but brushing your passion will attract people to your business he said The other startups include eDokta a Telehomecare solution for virtual consultation and home healthcare services S Med a solution that enable patients access their medical records They also include Authentic Qrtech a solution for authentication of fake products adulteration and counterfeit goods Other startups that demonstrated their ideas were Tech and Identity Solution Lab an automation identity for background check platform and Afrinet Powertech a cleantech solution that enhances energy efficiency for affordable electricity access The Demo Day was the end of the first cohort that was launched in March and lasted for five months and it also held concurrently with the launch of the second cohort www ng NewsSourceCredit NAN
    JICA supports 3 Nigerian startups with ,000 seed funds
     The Japanese International Cooperation Agency JICA had supported three Nigerian startups with the sum of 15 000 each to develop their innovative ideas towards becoming entrepreneurs and achieving the digital economy agenda The seed fund was given on Tuesday at the Demonstration Day of the first Cohort of the Idea Hatching iHatch Startup Incubation Programme It wasorganised by the National Information Technology Development Agency NITDA in collaboration with JICA in Abuja The iHatch programme was championed by Office for Nigerian Digital Innovation ONDI a subsidiary of NITDA The News Agency of Nigeria reports that in March 2022 the first cohort a five month programme began with over 5 000 applications that were received while eight were selected to pitch their ideas The winner of the demonstration was Betalife a health tech startup company that offers 247 real time blood donation tracking and blood requests The second position was won by Xolani Health Limited an Artificial Intelligence assisted tool that support clinical decision making for healthcare workers in low resource settings The third place winner was Every Farmer a solution that focuses on accessing funds for agricultural value chain Ms Favour James Founder Betalife who was happy said the seed fund would be channeled to marketing and creating awareness for solutions We are going to utilise the money in engaging more professionals and in our marketing strategy because blood donation is not a popular thing in Nigeria We will also invest in building collaboration between hospitals and blood banks James said Mr Susumu Yuzurio Chief Representative JICA Nigeria congratulated the startups while acknowledging that all of them were winners in their respective manners Yuzurio encouraged them to sustain the knowledge they had acquired towards building a digital economy for the nation Mr Kashifu Inuwa Director General of NITDA at the demonstration by the startups said that the programme was targeted at refining business ideas of the innovators and developing the digital economy agenda This partnership is in furtherance to the commitment of NITDA in sustaining the promotion and growth of digital innovation and entrepreneurship promotion of indigenous content derived from of the seven pillars of our Strategic Roadmap and Action Plan SRAP 2021 2024 This is to increase the number of Innovation Driven Enterprises IDEs viz a viz sustaining the growth of Nigeria s digital economy The partnership with JICA in the implementation of the iHatch programme is part of our initiatives to strengthen the tech and innovation ecosystem This is for the creation of more IDEs that will invariably contribute to creation of jobs for our teeming youth and the prosperity of our country Inuwa said He added that programme took the startups through a series of coaching lectures and boot camps to generate scalable and adaptable business models in the country Onuwa recalled the selection process assessed the startups ideas based on the criteria of profitability scalability social impact idea technique competitive advantage experience and a clearly defined future roadmap The DG said that the agency and JICA would be extending the third cohort across the six geo political zones of the country by the end of the second Cohort that would also span to five months He said NITDA remains committed to working with relevant stakeholders and partners in implementing programmes and initiatives that will accelerate innovation They will provide the much needed jobs for our youths while also nurturing their entrepreneurial spirit to catalyse the Nigerian digital economy to the next level Mr Nao Fuwa JICA expert urged the startups to think of why they studied business and why they considered opening a business Brushing up a business model is important but brushing your passion will attract people to your business he said The other startups include eDokta a Telehomecare solution for virtual consultation and home healthcare services S Med a solution that enable patients access their medical records They also include Authentic Qrtech a solution for authentication of fake products adulteration and counterfeit goods Other startups that demonstrated their ideas were Tech and Identity Solution Lab an automation identity for background check platform and Afrinet Powertech a cleantech solution that enhances energy efficiency for affordable electricity access The Demo Day was the end of the first cohort that was launched in March and lasted for five months and it also held concurrently with the launch of the second cohort www ng NewsSourceCredit NAN
    JICA supports 3 Nigerian startups with ,000 seed funds
    General news3 weeks ago

    JICA supports 3 Nigerian startups with $45,000 seed funds

    The Japanese International Cooperation Agency (JICA), had supported three Nigerian startups with the sum of $15,000 each to develop their innovative ideas towards becoming entrepreneurs and achieving the digital economy agenda.

    The seed fund was given on Tuesday at the Demonstration Day of the first Cohort of the Idea Hatching (iHatch) Startup Incubation Programme.

    It wasorganised by the National Information Technology Development Agency (NITDA), in collaboration with JICA in Abuja.  

    The iHatch programme was championed by Office for Nigerian Digital Innovation (ONDI),a subsidiary of NITDA.  

    The News Agency of Nigeria reports that in March 2022, the first cohort, a five-month programme began with over 5,000 applications that were received, while eight were selected to pitch their ideas.  

    The winner of the demonstration was Betalife, a health tech startup company that offers 247 real-time blood donation tracking and blood requests.  

    The second position was won by Xolani Health Limited,an Artificial Intelligence-assisted tool that support clinical decision making for healthcare workers in low resource settings.

    The third place winner was Every Farmer,a solution that focuses on accessing funds for agricultural value chain.  

    Ms Favour James, Founder, Betalife, who was happy said the seed fund would be channeled to marketing and creating awareness for solutions.  

    “We are going to utilise the money in engaging more professionals and in our marketing strategy, because blood donation is not a popular thing in Nigeria.  

    “We will also invest in building collaboration between hospitals and blood banks,”James said.

    Mr Susumu Yuzurio,Chief Representative,JICA Nigeria, congratulated the startups, while acknowledging that all of them were winners in their respective manners.  

    Yuzurio encouraged them to sustain the knowledge they had acquired towards building a digital economy for the nation.

    Mr Kashifu Inuwa,Director-General of NITDA,at the demonstration by the startups,said that the programme was targeted at refining business ideas of the innovators and developing the digital economy agenda.

    “This partnership is in furtherance to the commitment of NITDA in sustaining the promotion and growth of digital innovation and entrepreneurship, promotion of indigenous content derived from of the seven pillars of our Strategic Roadmap and Action Plan (SRAP) 2021-2024.“This is to increase the number of Innovation-Driven Enterprises (IDEs) viz- a- viz sustaining the growth of Nigeria’s digital economy.

    “The partnership with JICA in the implementation of the iHatch programme is part of our initiatives to strengthen the tech and innovation ecosystem.

    ”This is for the creation of more IDEs that will invariably contribute to creation of jobs for our teeming youth and the prosperity of our country,” Inuwa said.

    He added that programme took the startups through a series of coaching, lectures, and boot-camps to generate scalable and adaptable business models in the country.

    Onuwa recalled the selection process assessed the startups’ ideas based on the criteria of profitability, scalability, social impact, idea technique, competitive advantage, experience, and a clearly defined future roadmap.

    The DG said that the agency and JICA would be extending the third cohort across the six geo-political zones of the country by the end of the second Cohort that would also span to five months.

    He said: “NITDA remains committed to working with relevant stakeholders and partners in implementing programmes and initiatives that will accelerate innovation.

    ”They will provide the much-needed jobs for our youths, while also nurturing their entrepreneurial spirit to catalyse the Nigerian digital economy to the next level.

    ”Mr Nao Fuwa, JICA expert, urged the startups to think of why they studied business and why they considered opening a business.

    “Brushing up a business model is important, but brushing your passion will attract people to your business,” he said.

    The other startups include eDokta, a Telehomecare solution for virtual consultation and home healthcare services,S-Med, a solution that enable patients access their medical records.

    They also include Authentic Qrtech, a solution for authentication of fake products,adulteration and counterfeit goods.

    Other startups that demonstrated their ideas were Tech and Identity Solution Lab,an automation identity for background check platform and Afrinet Powertech,a cleantech solution that enhances energy efficiency for affordable electricity access.

    The Demo Day was the end of the first cohort that was launched in March and lasted for five months and it also held concurrently with the launch of the second cohort.

    www.

    ng
    NewsSourceCredit: NAN

  •  The Japan International Cooperation Agency JICA has awarded fully funded scholarships to 39 Nigerian youths with an opportunity to work in Japanese companies and bring in the expertise to develop Nigeria Mr Matsunaga Kazuyoshi the Japanese Ambassador to Nigeria and Mr Yuzurio Susumu JICA s country representative to Nigeria disclosed this on Thursday in Abuja during the sendforth of the beneficiaries The News Agency of Nigeria reports that the 39 students would be benefitting from three different programmes including Africa Business Education Initiative and SDGs Global Leader Programme The third programme is on Partnership for Building Resilience against Public Health Emergencies through Advanced Research and Education PREPARE Matsunaga said that the initiative seek to strengthen the Japanese Nigerian universities and to foster Nigeria s development across all sectors Japan and Nigeria have trade volume annually of nearly 1 billion US dollars however I feel more potentially to have more Japanese companies coming here To invest and collaborate with other governments and also UN agencies to assist Nigeria to develop more We have many Japanese companies with many technologies but the problem is that they do not know very much about Nigeria because the news media just release Boko Haram and how many people are kidnapped But when I was posted to Nigeria I see the big potential in Nigeria so my role is to promote more to know that Nigeria is attractive and let Japanese companies know more opportunities to come to Nigeria Today we will send 39 very talented Nigerian youths I really expect them to be good Ambassadors to promote and to strengthen Nigeria Japanese relationship Matsunaga said On his part Yuzurio said that the initiative seek to extend development beyond the public sector to the private sector which plays a critical role in the development of every nation This initiative is very important for African countries not only to develop not only the public sector but also the private sector The important thing is how to collaborate with domestic and international companies which have expertise towards the Nigerian companies At the programme they have enormous opportunities to work with Japanese companies and exchange networks and bring them to Nigeria and work with them So it has very significant impact in Nigeria s development Yuzurio said Mr Bitrus Chinoko the Director General Centre for Management Development CMD appreciated the government of Japan for the opportunity given to Nigerian youths to learn from Japan to come back to impact positively in Nigeria Chinoko who was represented by Mrs Dorothy Esiri a Director in the centre said the programme was an investment of knowledge to the country This time around it is being a huge number of participants which is a very huge investment in knowledge and education Each of these participants will come back to Nigeria and impact in the different sectors of research which they will be carrying on while in Japanese universities We cannot appreciate the government of Japan enough represented here by the Japanese Ambassador and the Country representative of JICA Chinoko said Mr Aliyu Bawalle the President KAKEHASHI Africa Nigeria Initiative KANI co organisers of the event and ex beneficiary of the programme said they were excited at the growth of the programme in Nigeria Bawalle said that the programme which is in its 9th edition has seen an increase with 39 beneficiaries this year which is the highest since its inception We are ex beneficiaries of the programme and the role we are playing is to facilitate the process of recruitment of Nigerians to also benefit from the programme This year we have the highest number ever 39 and I know that our role played a significant increase to that we were 22 in 2016 The expectation is for them to be a good ambassadors and representatives of Nigeria in Japan and the second expectation is for them to go and learn the skills knowledge competence and attitude they can bring back to Nigeria And I am sure the knowledge they will go to learn will be very much needed in our economy appreciation to the government Bawalle said NewsSourceCredit NAN
    Japan awards 39 Nigerians full scholarship
     The Japan International Cooperation Agency JICA has awarded fully funded scholarships to 39 Nigerian youths with an opportunity to work in Japanese companies and bring in the expertise to develop Nigeria Mr Matsunaga Kazuyoshi the Japanese Ambassador to Nigeria and Mr Yuzurio Susumu JICA s country representative to Nigeria disclosed this on Thursday in Abuja during the sendforth of the beneficiaries The News Agency of Nigeria reports that the 39 students would be benefitting from three different programmes including Africa Business Education Initiative and SDGs Global Leader Programme The third programme is on Partnership for Building Resilience against Public Health Emergencies through Advanced Research and Education PREPARE Matsunaga said that the initiative seek to strengthen the Japanese Nigerian universities and to foster Nigeria s development across all sectors Japan and Nigeria have trade volume annually of nearly 1 billion US dollars however I feel more potentially to have more Japanese companies coming here To invest and collaborate with other governments and also UN agencies to assist Nigeria to develop more We have many Japanese companies with many technologies but the problem is that they do not know very much about Nigeria because the news media just release Boko Haram and how many people are kidnapped But when I was posted to Nigeria I see the big potential in Nigeria so my role is to promote more to know that Nigeria is attractive and let Japanese companies know more opportunities to come to Nigeria Today we will send 39 very talented Nigerian youths I really expect them to be good Ambassadors to promote and to strengthen Nigeria Japanese relationship Matsunaga said On his part Yuzurio said that the initiative seek to extend development beyond the public sector to the private sector which plays a critical role in the development of every nation This initiative is very important for African countries not only to develop not only the public sector but also the private sector The important thing is how to collaborate with domestic and international companies which have expertise towards the Nigerian companies At the programme they have enormous opportunities to work with Japanese companies and exchange networks and bring them to Nigeria and work with them So it has very significant impact in Nigeria s development Yuzurio said Mr Bitrus Chinoko the Director General Centre for Management Development CMD appreciated the government of Japan for the opportunity given to Nigerian youths to learn from Japan to come back to impact positively in Nigeria Chinoko who was represented by Mrs Dorothy Esiri a Director in the centre said the programme was an investment of knowledge to the country This time around it is being a huge number of participants which is a very huge investment in knowledge and education Each of these participants will come back to Nigeria and impact in the different sectors of research which they will be carrying on while in Japanese universities We cannot appreciate the government of Japan enough represented here by the Japanese Ambassador and the Country representative of JICA Chinoko said Mr Aliyu Bawalle the President KAKEHASHI Africa Nigeria Initiative KANI co organisers of the event and ex beneficiary of the programme said they were excited at the growth of the programme in Nigeria Bawalle said that the programme which is in its 9th edition has seen an increase with 39 beneficiaries this year which is the highest since its inception We are ex beneficiaries of the programme and the role we are playing is to facilitate the process of recruitment of Nigerians to also benefit from the programme This year we have the highest number ever 39 and I know that our role played a significant increase to that we were 22 in 2016 The expectation is for them to be a good ambassadors and representatives of Nigeria in Japan and the second expectation is for them to go and learn the skills knowledge competence and attitude they can bring back to Nigeria And I am sure the knowledge they will go to learn will be very much needed in our economy appreciation to the government Bawalle said NewsSourceCredit NAN
    Japan awards 39 Nigerians full scholarship
    Foreign3 weeks ago

    Japan awards 39 Nigerians full scholarship

    The Japan International Cooperation Agency (JICA) has awarded fully funded scholarships to 39 Nigerian youths with an opportunity to work in Japanese companies and bring in the expertise to develop Nigeria.

    Mr Matsunaga Kazuyoshi, the Japanese Ambassador to Nigeria, and Mr Yuzurio Susumu, JICA’s country representative to Nigeria, disclosed this on Thursday in Abuja during the sendforth of the beneficiaries.  

    The News Agency of Nigeria reports that the 39 students would be benefitting from three different programmes, including Africa Business Education Initiative and SDGs Global Leader Programme.

    The third programme is on Partnership for Building Resilience against Public Health Emergencies through Advanced Research and Education (PREPARE).

    Matsunaga said that the initiative seek to strengthen the Japanese-Nigerian universities and to foster Nigeria’s development across all sectors.

    “Japan and Nigeria have trade volume annually of nearly 1 billion US dollars, however I feel more potentially to have more Japanese companies coming here.  

    “To invest and collaborate with other governments and also UN agencies to assist Nigeria to develop more.

    “We have many Japanese companies with many technologies but the problem is that they do not know very much about Nigeria because the news media just release Boko Haram and how many people are kidnapped.

    “But when I was posted to Nigeria, I see the big potential in Nigeria so my role is to promote more to know that Nigeria is attractive and let Japanese companies know more opportunities to come to Nigeria.

    “Today we will send 39 very talented Nigerian youths, I really expect them to be good Ambassadors, to promote and to strengthen Nigeria, Japanese relationship,” Matsunaga said.

    On his part, Yuzurio said that the initiative seek to extend development beyond the public sector to the private sector which plays a critical role in the development of every nation.

    “This initiative is very important for African countries not only to develop, not only the public sector but also the private sector. 

    “The important thing is how to collaborate with domestic and international companies which have expertise towards the Nigerian companies.

    ” At the programme, they have enormous opportunities to work with Japanese companies, and exchange networks, and bring them to Nigeria and work with them.

    So it has very significant impact in Nigeria’s development,” Yuzurio said.

    Mr Bitrus Chinoko, the Director-General, Centre for Management Development (CMD), appreciated the government of Japan for the opportunity given to Nigerian youths to learn from Japan to come back to impact positively in Nigeria.

    Chinoko, who was represented by Mrs Dorothy Esiri, a Director in the centre, said the programme was an investment of knowledge to the country.

    “This time around, it is being a huge number of participants which is a very huge investment in knowledge and education.

    “Each of these participants will come back to Nigeria and impact in the different sectors of research which they will be carrying on while in Japanese universities.

    “We cannot appreciate the government of Japan enough represented here by the Japanese Ambassador and the Country representative of JICA,” Chinoko said.  

    Mr Aliyu Bawalle, the President, KAKEHASHI Africa Nigeria Initiative (KANI), co-organisers of the event and ex beneficiary of the programme,  said they were excited at the growth of the programme in Nigeria.

    Bawalle said that the programme, which is in its 9th edition, has seen an increase with 39 beneficiaries this year which is the highest since its inception.

    “We are ex-beneficiaries of the programme and the role we are playing is to facilitate the process of recruitment of Nigerians to also benefit from the programme.

    “This year we have the highest number ever, 39, and I know that our role played a significant increase to that, we were 22 in 2016.  “The expectation is for them to be a good ambassadors and representatives of Nigeria in Japan, and the second expectation is for them to go and learn the skills, knowledge, competence and attitude they can bring back to Nigeria.

    “And I am sure the knowledge they will go to learn will be very much needed in our economy appreciation to the government,” Bawalle said.  


    NewsSourceCredit: NAN

  •  President of the African Development Bank AfDB Dr Akinwunmi Adesina has said Japanese businesses should invest more in Africa where investment opportunities and returns on investment were among the highest in the world This is made known in a statement from the Communication and External Relations Department of the AfDB in Abuja The AfDB president said this to participants at the 8th Tokyo International Conference on African Development TICAD8 where 20 African heads of state attended from Aug 27 to 28 Adesina commended the Japanese government and private sector for their strong support to Africa s development He told Japanese businesses to assess Africa s investment opportunities based on facts and evidence and not on perceptions In 2020 Moody s Analytics performed a 10 year cumulative assessment of global infrastructure debt default rates by region It found that Africa was the region with the second lowest cumulative default rate after the Middle East That is proof once again that infrastructure as an asset class in Africa is solid secure and profitable He noted that African countries would require significant financial resources to cope with the impacts of Covid 19 accelerating climate change and Russia s war in Ukraine This is the time to strongly support the African Adaptation Acceleration Program to mobilise 25 billion dollars for climate adaptation for Africa especially as we look forward to Cop 27 in Egypt Adesina said He added that the bank s African Emergency Food Production Facility launched in May was providing 1 13 billion dollars for 24 countries in financing an expected 1 5 billion dollars for emergency food production Adesina thanked Japan for its contribution to the facility I am delighted that the Japan International Cooperation Agency JICA has provided additional co financing of 518 million dollars to support the facility He stressed that Japanese firms which were bold in their investments in Africa were those that were prospering He gave the example of Toyota Tsusho s investment in automobile factories in South Africa which had generated 8 5 billion dollars in revenues in March Others he said included Komatsu and Mitsubishi Heavy Industries Citing Africa s youth entrepreneurship and innovative skills Adesina said Africa is home to a vibrant fintech ecosystem that is leading the continent s digital revolution with the highest potential to lead the world The continent is home to 576 fintech start ups and they are run by young people Adesina named other vital investment sectors like the production of lithium batteries that power electric vehicles agri business and renewable energy including hydro power wind and geothermal sources Speaking through video Japanese Prime Minister Fumio Kishida said Japan had achieved its goal of contributing 20 billion dollars to Africa within the private sector a goal it had set at TICAD7 in 2019 Kishida also announced new commitments and said Japan will provide co financing of up to five billion dollars together with the African Development Bank in order to improve the lives of African people Senegal s President Macky Sall said Japanese corporations had the technological and financial capacity needed to set up partnerships in Africa in sectors such as infrastructure transportation and housing Deputy Secretary General of the United Nations Mrs Amina Mohammed commended the foresight of Japan s leadership in establishing TICAD in 1993 Thanks to platforms such as TICAD we already have the partnerships in place to respond to these challenges in solidarity The African Union Commission s Chairperson Moussa Faki Mahamat lauded Japan for its efforts to build African capacity through education and training Mahamat praised a Japanese initiative that had trained over 1000 young Africans in nutrition TICAD8 also included the signing ceremony for 91 Memoranda of Understanding that Japan s government and businesses had agreed with African corporations or governments The pacts included projects across all five regions of Africa to develop human resource technical skills and green hydrogen water desalination and geothermal solutions Japanese officials and business leaders and heads of international organisations also took part in the conference TICAD which takes place every three years is organised by the government of Japan the United Nations the United Nations Development Programme the African Union Commission and the World Bank NewsSourceCredit NAN
    Japanese businesses should invest more in Africa —Adesina
     President of the African Development Bank AfDB Dr Akinwunmi Adesina has said Japanese businesses should invest more in Africa where investment opportunities and returns on investment were among the highest in the world This is made known in a statement from the Communication and External Relations Department of the AfDB in Abuja The AfDB president said this to participants at the 8th Tokyo International Conference on African Development TICAD8 where 20 African heads of state attended from Aug 27 to 28 Adesina commended the Japanese government and private sector for their strong support to Africa s development He told Japanese businesses to assess Africa s investment opportunities based on facts and evidence and not on perceptions In 2020 Moody s Analytics performed a 10 year cumulative assessment of global infrastructure debt default rates by region It found that Africa was the region with the second lowest cumulative default rate after the Middle East That is proof once again that infrastructure as an asset class in Africa is solid secure and profitable He noted that African countries would require significant financial resources to cope with the impacts of Covid 19 accelerating climate change and Russia s war in Ukraine This is the time to strongly support the African Adaptation Acceleration Program to mobilise 25 billion dollars for climate adaptation for Africa especially as we look forward to Cop 27 in Egypt Adesina said He added that the bank s African Emergency Food Production Facility launched in May was providing 1 13 billion dollars for 24 countries in financing an expected 1 5 billion dollars for emergency food production Adesina thanked Japan for its contribution to the facility I am delighted that the Japan International Cooperation Agency JICA has provided additional co financing of 518 million dollars to support the facility He stressed that Japanese firms which were bold in their investments in Africa were those that were prospering He gave the example of Toyota Tsusho s investment in automobile factories in South Africa which had generated 8 5 billion dollars in revenues in March Others he said included Komatsu and Mitsubishi Heavy Industries Citing Africa s youth entrepreneurship and innovative skills Adesina said Africa is home to a vibrant fintech ecosystem that is leading the continent s digital revolution with the highest potential to lead the world The continent is home to 576 fintech start ups and they are run by young people Adesina named other vital investment sectors like the production of lithium batteries that power electric vehicles agri business and renewable energy including hydro power wind and geothermal sources Speaking through video Japanese Prime Minister Fumio Kishida said Japan had achieved its goal of contributing 20 billion dollars to Africa within the private sector a goal it had set at TICAD7 in 2019 Kishida also announced new commitments and said Japan will provide co financing of up to five billion dollars together with the African Development Bank in order to improve the lives of African people Senegal s President Macky Sall said Japanese corporations had the technological and financial capacity needed to set up partnerships in Africa in sectors such as infrastructure transportation and housing Deputy Secretary General of the United Nations Mrs Amina Mohammed commended the foresight of Japan s leadership in establishing TICAD in 1993 Thanks to platforms such as TICAD we already have the partnerships in place to respond to these challenges in solidarity The African Union Commission s Chairperson Moussa Faki Mahamat lauded Japan for its efforts to build African capacity through education and training Mahamat praised a Japanese initiative that had trained over 1000 young Africans in nutrition TICAD8 also included the signing ceremony for 91 Memoranda of Understanding that Japan s government and businesses had agreed with African corporations or governments The pacts included projects across all five regions of Africa to develop human resource technical skills and green hydrogen water desalination and geothermal solutions Japanese officials and business leaders and heads of international organisations also took part in the conference TICAD which takes place every three years is organised by the government of Japan the United Nations the United Nations Development Programme the African Union Commission and the World Bank NewsSourceCredit NAN
    Japanese businesses should invest more in Africa —Adesina
    Economy4 weeks ago

    Japanese businesses should invest more in Africa —Adesina

    President of the African Development Bank (AfDB), Dr Akinwunmi Adesina, has said Japanese businesses should invest more in Africa, where investment opportunities and returns on investment were among the highest in the world.

    This is made known in a statement from the Communication and External Relations Department of the AfDB in Abuja.

    The AfDB president said this to participants at the 8th Tokyo International Conference on African Development (TICAD8), where 20 African heads of state attended from Aug. 27 to 28. Adesina commended the Japanese government and private sector for their strong support to Africa’s development.

    He told Japanese businesses to assess Africa’s investment opportunities based on facts and evidence, and not on perceptions.

    “In 2020, Moody’s Analytics performed a 10-year cumulative assessment of global infrastructure debt default rates, by region. 

    “It found that Africa was the region with the second lowest cumulative default rate, after the Middle East.  “That is proof once again that infrastructure as an asset class in Africa is solid, secure, and profitable.

    ” He noted that African countries would require significant financial resources to cope with the impacts of Covid-19, accelerating climate change and Russia’s war in Ukraine.

    “This is the time to strongly support the African Adaptation Acceleration Program to mobilise 25 billion dollars for climate adaptation for Africa, especially as we look forward to Cop-27 in Egypt,” Adesina said. 

    He added that the bank’s African Emergency Food Production Facility, launched in May, was providing 1.13 billion dollars for 24 countries in financing an expected 1.5 billion dollars for emergency food production. 

    Adesina thanked Japan for its contribution to the facility. 

    “I am delighted that the Japan International Cooperation Agency (JICA) has provided additional co-financing of 518 million dollars to support the facility.

    ” He stressed that Japanese firms, which were bold in their investments in Africa, were those that were prospering. 

    He gave the example of Toyota Tsusho’s investment in automobile factories in South Africa, which had generated 8.5 billion dollars in revenues in March.

    Others, he said, included Komatsu and Mitsubishi Heavy Industries.

    Citing Africa’s youth entrepreneurship and innovative skills, Adesina said: “Africa is home to a vibrant fintech ecosystem that is leading the continent’s digital revolution with the highest potential to lead the world. 

    “The continent is home to 576 fintech start-ups and they are run by young people.

    ” Adesina named other vital investment sectors, like the production of lithium batteries that power electric vehicles, agri-business and renewable energy, including hydro power, wind and geothermal sources.

    Speaking through video, Japanese Prime Minister Fumio Kishida, said Japan had achieved its goal of contributing 20 billion dollars to Africa within the private sector, a goal it had set at TICAD7 in 2019.  Kishida also announced new commitments and said Japan “will provide co-financing of up to five billion dollars, together with the African Development Bank, in order to improve the lives of African people.

    ” Senegal’s President Macky Sall, said Japanese corporations had the “technological and financial capacity needed to set up partnerships in Africa in sectors such as infrastructure, transportation and housing.

    ” Deputy Secretary-General of the United Nations, Mrs Amina Mohammed, commended the foresight of Japan’s leadership in establishing TICAD in 1993. “Thanks to platforms such as TICAD, we already have the partnerships in place to respond to these challenges in solidarity.

    ” The African Union Commission’s Chairperson, Moussa Faki Mahamat, lauded Japan for its efforts to build African capacity through education and training. 

    Mahamat praised a Japanese initiative that had trained over 1000 young Africans in nutrition.

    TICAD8 also included the signing ceremony for 91 Memoranda of Understanding that Japan’s government and businesses had agreed with African corporations or governments.

    The pacts included projects across all five regions of Africa to develop human resource technical skills and green hydrogen, water desalination and geothermal solutions.

    Japanese officials and business leaders, and heads of international organisations also took part in the conference.

    TICAD, which takes place every three years, is organised by the government of Japan, the United Nations, the United Nations Development Programme, the African Union Commission, and the World Bank.
    NewsSourceCredit: NAN

  •   Japanese companies should invest more in Africa where investment opportunities and investment returns are among the highest in the world the president of the African Development Bank www AfDB org Dr Akinwumi Adesina urged to the participants in the 8th Tokyo International Conference on African Development TICAD8 Adesina praised the Japanese government and the private sector for their strong support for Africa s development He told Japanese companies to assess Africa s investment opportunities based on facts and evidence not perceptions The Bank s group head said In 2020 Moody s Analytics conducted a 10 year cumulative assessment of global infrastructure debt default rates by region It found that Africa was the region with the second lowest cumulative default rate after the Middle East That is proof once again that infrastructure as an asset class in Africa is strong secure and profitable Twenty African heads of state will attend the conference in the Tunisian capital of Tunis from August 27 28 Also participating in the conference are Japanese officials and business leaders and heads of international organizations Speaking by video link Japanese Prime Minister Fumio Kishida said Japan had achieved its goal of contributing 20 billion to Africa within the private sector a goal it had set for itself at TICAD7 in 2019 Kishida also announced new commitments He said Japan will provide co financing of up to 5 billion together with the African Development Bank to improve the lives of Africans Senegalese President Macky Sall said Japanese corporations have the technological and financial capacity to establish partnerships in Africa in sectors such as infrastructure transport and housing United Nations Deputy Secretary General Amina J Mohammed praised the foresight of Japan s leadership in establishing TICAD in 1993 She warned of the magnitude of the challenges Africa currently faces adding Thanks to platforms like TICAD we already have the partnerships in place to respond to these challenges in solidarity African Union Commission Chairman Moussa Faki Mahamat praised Japan for its efforts to build African capacity through education and training He praised a Japanese initiative that has trained more than 1 000 young Africans in nutrition The head of the African Development Bank said African countries would need significant financial resources to cope with the impacts of COVID 19 accelerating climate change and Russia s war in Ukraine Now is the time to strongly support the African Adaptation Acceleration Program to mobilize 25 billion for climate adaptation in Africa especially as we await COP 27 in Egypt Adesina said She said the Bank s African Emergency Food Production Fund launched in May 2022 was providing 1 13 billion for 24 countries in financing an expected 1 5 billion for emergency food production The African Development Bank expedited approval of the facility to early 2022 to avert a potential food and fertilizer crisis stemming from the war in Ukraine Adesina thanked Japan for its contribution to the facility I am delighted that the Japan International Cooperation Agency JICA has provided an additional co financing of 518 million to support the facility During a forum for the business community Adesina named two areas in which he hoped to see Japan s greater engagement with Africa namely bilateral trade and investment She said that Africa accounted for just 0 003 of Japan s 2 trillion in global foreign direct investment Adesina stressed that Japanese companies that were bold in their investments in Africa were the ones that prospered He gave the example of Toyota Tsusho s investment in auto factories in South Africa which generated 8 5 billion in revenue in March 2022 Others he said include Komatsu and Mitsubishi Heavy Industries Citing Africa s youth entrepreneurial spirit and innovation Adesina said Africa is home to a vibrant fintech ecosystem that is leading the digital revolution of the continent with the greatest potential to lead the world The continent is home to 576 fintech start ups and they are run by young people Adesina named other vital investment sectors including the production of lithium batteries that power electric vehicles agribusiness and renewable energy including hydroelectric wind and geothermal sources TICAD8 also included the signing ceremony for 91 memorandums of understanding that the government and companies of Japan have agreed with African corporations or governments The pacts included projects in the five regions of Africa to develop technical skills in human resources and green hydrogen water desalination and geothermal solutions Adesina held a bilateral meeting with the President of the Japan International Cooperation Agency JICA Tanaka Akihito and the Governor of the Japan Bank for International Cooperation Nobumitsu Hayashi He also attended a bilateral meeting with the leaders of Keidanren a Japanese economic organization that represents companies and industry and regional associations The meetings focused on the need for closer cooperation on investment including co financing of key projects trade and opportunities for Japan s private sector Discussions also covered the upcoming 16th replenishment of the African Development Fund the concessional lending window of the African Development Bank Group TICAD which takes place every three years is organized by the Government of Japan the United Nations the United Nations Development Program the African Union Commission and the World Bank
    Africa’s renewable energy resources offer huge investment opportunities for Japanese companies – Dr. Akinwumi Adesina
      Japanese companies should invest more in Africa where investment opportunities and investment returns are among the highest in the world the president of the African Development Bank www AfDB org Dr Akinwumi Adesina urged to the participants in the 8th Tokyo International Conference on African Development TICAD8 Adesina praised the Japanese government and the private sector for their strong support for Africa s development He told Japanese companies to assess Africa s investment opportunities based on facts and evidence not perceptions The Bank s group head said In 2020 Moody s Analytics conducted a 10 year cumulative assessment of global infrastructure debt default rates by region It found that Africa was the region with the second lowest cumulative default rate after the Middle East That is proof once again that infrastructure as an asset class in Africa is strong secure and profitable Twenty African heads of state will attend the conference in the Tunisian capital of Tunis from August 27 28 Also participating in the conference are Japanese officials and business leaders and heads of international organizations Speaking by video link Japanese Prime Minister Fumio Kishida said Japan had achieved its goal of contributing 20 billion to Africa within the private sector a goal it had set for itself at TICAD7 in 2019 Kishida also announced new commitments He said Japan will provide co financing of up to 5 billion together with the African Development Bank to improve the lives of Africans Senegalese President Macky Sall said Japanese corporations have the technological and financial capacity to establish partnerships in Africa in sectors such as infrastructure transport and housing United Nations Deputy Secretary General Amina J Mohammed praised the foresight of Japan s leadership in establishing TICAD in 1993 She warned of the magnitude of the challenges Africa currently faces adding Thanks to platforms like TICAD we already have the partnerships in place to respond to these challenges in solidarity African Union Commission Chairman Moussa Faki Mahamat praised Japan for its efforts to build African capacity through education and training He praised a Japanese initiative that has trained more than 1 000 young Africans in nutrition The head of the African Development Bank said African countries would need significant financial resources to cope with the impacts of COVID 19 accelerating climate change and Russia s war in Ukraine Now is the time to strongly support the African Adaptation Acceleration Program to mobilize 25 billion for climate adaptation in Africa especially as we await COP 27 in Egypt Adesina said She said the Bank s African Emergency Food Production Fund launched in May 2022 was providing 1 13 billion for 24 countries in financing an expected 1 5 billion for emergency food production The African Development Bank expedited approval of the facility to early 2022 to avert a potential food and fertilizer crisis stemming from the war in Ukraine Adesina thanked Japan for its contribution to the facility I am delighted that the Japan International Cooperation Agency JICA has provided an additional co financing of 518 million to support the facility During a forum for the business community Adesina named two areas in which he hoped to see Japan s greater engagement with Africa namely bilateral trade and investment She said that Africa accounted for just 0 003 of Japan s 2 trillion in global foreign direct investment Adesina stressed that Japanese companies that were bold in their investments in Africa were the ones that prospered He gave the example of Toyota Tsusho s investment in auto factories in South Africa which generated 8 5 billion in revenue in March 2022 Others he said include Komatsu and Mitsubishi Heavy Industries Citing Africa s youth entrepreneurial spirit and innovation Adesina said Africa is home to a vibrant fintech ecosystem that is leading the digital revolution of the continent with the greatest potential to lead the world The continent is home to 576 fintech start ups and they are run by young people Adesina named other vital investment sectors including the production of lithium batteries that power electric vehicles agribusiness and renewable energy including hydroelectric wind and geothermal sources TICAD8 also included the signing ceremony for 91 memorandums of understanding that the government and companies of Japan have agreed with African corporations or governments The pacts included projects in the five regions of Africa to develop technical skills in human resources and green hydrogen water desalination and geothermal solutions Adesina held a bilateral meeting with the President of the Japan International Cooperation Agency JICA Tanaka Akihito and the Governor of the Japan Bank for International Cooperation Nobumitsu Hayashi He also attended a bilateral meeting with the leaders of Keidanren a Japanese economic organization that represents companies and industry and regional associations The meetings focused on the need for closer cooperation on investment including co financing of key projects trade and opportunities for Japan s private sector Discussions also covered the upcoming 16th replenishment of the African Development Fund the concessional lending window of the African Development Bank Group TICAD which takes place every three years is organized by the Government of Japan the United Nations the United Nations Development Program the African Union Commission and the World Bank
    Africa’s renewable energy resources offer huge investment opportunities for Japanese companies – Dr. Akinwumi Adesina
    Africa4 weeks ago

    Africa’s renewable energy resources offer huge investment opportunities for Japanese companies – Dr. Akinwumi Adesina

    Japanese companies should invest more in Africa, where investment opportunities and investment returns are among the highest in the world, the president of the African Development Bank (www.AfDB.org), Dr. Akinwumi Adesina, urged.

    to the participants in the 8th Tokyo International Conference on African Development (TICAD8).

    Adesina praised the Japanese government and the private sector for their strong support for Africa's development.

    He told Japanese companies to assess Africa's investment opportunities based on facts and evidence, not perceptions.

    The Bank's group head said: “In 2020, Moody's Analytics conducted a 10-year cumulative assessment of global infrastructure debt default rates, by region.

    It found that Africa was the region with the second lowest cumulative default rate, after the Middle East. That is proof once again that infrastructure as an asset class in Africa is strong, secure and profitable.” Twenty African heads of state will attend the conference in the Tunisian capital of Tunis from August 27-28.

    Also participating in the conference are Japanese officials and business leaders, and heads of international organizations.

    Speaking by video link, Japanese Prime Minister Fumio Kishida said Japan had achieved its goal of contributing $20 billion to Africa within the private sector, a goal it had set for itself at TICAD7 in 2019.

    Kishida also announced new commitments.

    .

    He said Japan "will provide co-financing of up to $5 billion, together with the African Development Bank, to improve the lives of Africans."

    Senegalese President Macky Sall said Japanese corporations have the "technological and financial capacity to establish partnerships in Africa in sectors such as infrastructure, transport and housing."

    United Nations Deputy Secretary-General Amina J.

    Mohammed praised the foresight of Japan's leadership in establishing TICAD in 1993.

    She warned of the magnitude of the challenges Africa currently faces, adding: “Thanks to platforms like TICAD, we already have the partnerships in place to respond to these challenges in solidarity.” African Union Commission Chairman Moussa Faki Mahamat praised Japan for its efforts to build African capacity through education and training.

    He praised a Japanese initiative that has trained more than 1,000 young Africans in nutrition.

    The head of the African Development Bank said African countries would need significant financial resources to cope with the impacts of COVID-19, accelerating climate change and Russia's war in Ukraine.

    “Now is the time to strongly support the African Adaptation Acceleration Program to mobilize $25 billion for climate adaptation in Africa, especially as we await COP-27 in Egypt,” Adesina said.

    She said the Bank's African Emergency Food Production Fund, launched in May 2022, was providing $1.13 billion for 24 countries in financing an expected $1.5 billion for emergency food production.

    .

    The African Development Bank expedited approval of the facility to early 2022 to avert a potential food and fertilizer crisis stemming from the war in Ukraine.

    Adesina thanked Japan for its contribution to the facility.

    “I am delighted that the Japan International Cooperation Agency (JICA) has provided an additional co-financing of $518 million to support the facility.” During a forum for the business community, Adesina named two areas in which he hoped to see Japan's greater engagement with Africa, namely bilateral trade and investment.

    She said that Africa accounted for just 0.003% of Japan's $2 trillion in global foreign direct investment.

    Adesina stressed that Japanese companies that were bold in their investments in Africa were the ones that prospered.

    He gave the example of Toyota Tsusho's investment in auto factories in South Africa, which generated $8.5 billion in revenue in March 2022.

    Others, he said, include Komatsu and Mitsubishi Heavy Industries.

    Citing Africa's youth, entrepreneurial spirit and innovation, Adesina said: “Africa is home to a vibrant fintech ecosystem that is leading the digital revolution of the continent with the greatest potential to lead the world.

    The continent is home to 576 fintech start-ups and they are run by young people.” Adesina named other vital investment sectors, including the production of lithium batteries that power electric vehicles, agribusiness and renewable energy, including hydroelectric, wind and geothermal sources.

    TICAD8 also included the signing ceremony for 91 memorandums of understanding that the government and companies of Japan have agreed with African corporations or governments.

    The pacts included projects in the five regions of Africa to develop technical skills in human resources and green hydrogen, water desalination and geothermal solutions.

    Adesina held a bilateral meeting with the President of the Japan International Cooperation Agency (JICA) Tanaka Akihito and the Governor of the Japan Bank for International Cooperation Nobumitsu Hayashi.

    He also attended a bilateral meeting with the leaders of Keidanren, a Japanese economic organization that represents companies and industry and regional associations.

    The meetings focused on the need for closer cooperation on investment, including co-financing of key projects, trade and opportunities for Japan's private sector.

    Discussions also covered the upcoming 16th replenishment of the African Development Fund, the concessional lending window of the African Development Bank Group.

    TICAD, which takes place every three years, is organized by the Government of Japan, the United Nations, the United Nations Development Program, the African Union Commission and the World Bank.

  •   The Government of Japan and the African Development Bank www AfDB org have announced a financial cooperation of 5 billion under the fifth phase of the Enhanced Private Sector Assistance for Africa EPSA initiative from 2023 to 2025 The announcement was made at the Eighth Tokyo International Conference on African Development TICAD8 held on Sunday August 28 2022 in the Tunis capital Tunis The funds consist of 4 billion under the existing window and up to an additional 1 billion to be provided under a special new window Japan will establish this Special Window to support countries that are making progress in improving debt transparency and sustainability and other reforms thereby achieving steady and significant improvement in their debt situations Given the importance of food security Japan and the African Development Bank will add agriculture and nutrition as a priority area under EPSA 5 As a result EPSA 5 will cover 1 electricity 2 connectivity 3 health 4 agriculture and nutrition as priority areas to address key challenges in Africa At the EPSA 5 launch ceremony Japan s Deputy Finance Minister for International Affairs Mr Masato Kanda said that his country is committed to supporting African countries while respecting its own initiatives Japan International Cooperation Agency JICA President Dr Akihiko TANAKA said Under the dire situation caused by multiple crises enhancing resilience and promoting human security are critical components of Japan s support for Africa EPSA is an essential element of our partnership with the African Development Bank to address the social and economic challenges facing the continent JICA is committed to working with EPSA to create a bright and prosperous future The President of the African Development Bank Group Dr Akinwumi Adesina said EPSA 5 is the kind of cooperation that Africa and the world need The growing impacts of climate change the Covid 19 pandemic and the war in Ukraine mean that we must do even more than we have already done to mobilize the private sector and create job opportunities in Africa The newly signed initiative will have a positive impact on millions of lives across Africa Japan and the African Development Bank will join forces to support countries facing enormous challenges including food security climate change health digitalization and debt problems
    Japan and the African Development Bank announce up to billion in support for Africa’s private sector
      The Government of Japan and the African Development Bank www AfDB org have announced a financial cooperation of 5 billion under the fifth phase of the Enhanced Private Sector Assistance for Africa EPSA initiative from 2023 to 2025 The announcement was made at the Eighth Tokyo International Conference on African Development TICAD8 held on Sunday August 28 2022 in the Tunis capital Tunis The funds consist of 4 billion under the existing window and up to an additional 1 billion to be provided under a special new window Japan will establish this Special Window to support countries that are making progress in improving debt transparency and sustainability and other reforms thereby achieving steady and significant improvement in their debt situations Given the importance of food security Japan and the African Development Bank will add agriculture and nutrition as a priority area under EPSA 5 As a result EPSA 5 will cover 1 electricity 2 connectivity 3 health 4 agriculture and nutrition as priority areas to address key challenges in Africa At the EPSA 5 launch ceremony Japan s Deputy Finance Minister for International Affairs Mr Masato Kanda said that his country is committed to supporting African countries while respecting its own initiatives Japan International Cooperation Agency JICA President Dr Akihiko TANAKA said Under the dire situation caused by multiple crises enhancing resilience and promoting human security are critical components of Japan s support for Africa EPSA is an essential element of our partnership with the African Development Bank to address the social and economic challenges facing the continent JICA is committed to working with EPSA to create a bright and prosperous future The President of the African Development Bank Group Dr Akinwumi Adesina said EPSA 5 is the kind of cooperation that Africa and the world need The growing impacts of climate change the Covid 19 pandemic and the war in Ukraine mean that we must do even more than we have already done to mobilize the private sector and create job opportunities in Africa The newly signed initiative will have a positive impact on millions of lives across Africa Japan and the African Development Bank will join forces to support countries facing enormous challenges including food security climate change health digitalization and debt problems
    Japan and the African Development Bank announce up to billion in support for Africa’s private sector
    Africa4 weeks ago

    Japan and the African Development Bank announce up to $5 billion in support for Africa’s private sector

    The Government of Japan and the African Development Bank (www.AfDB.org) have announced a financial cooperation of $5 billion under the fifth phase of the Enhanced Private Sector Assistance for Africa (EPSA) initiative from 2023 to 2025.

    The announcement was made at the Eighth Tokyo International Conference on African Development (TICAD8) held on Sunday, August 28, 2022 in the Tunis capital, Tunis.

    The funds consist of $4 billion under the existing window and up to an additional $1 billion to be provided under a special new window.

    Japan will establish this Special Window to support countries that are making progress in improving debt transparency and sustainability, and other reforms, thereby achieving steady and significant improvement in their debt situations.

    Given the importance of food security, Japan and the African Development Bank will add agriculture and nutrition as a priority area under EPSA 5.

    As a result, EPSA 5 will cover 1) electricity, 2) connectivity 3) health, 4) agriculture and nutrition as priority areas to address key challenges in Africa.

    At the EPSA 5 launch ceremony, Japan's Deputy Finance Minister for International Affairs, Mr. Masato Kanda, said that his country is committed to supporting African countries while respecting its own initiatives.

    Japan International Cooperation Agency (JICA) President Dr. Akihiko TANAKA said, “Under the dire situation caused by multiple crises, enhancing resilience and promoting human security are critical components of Japan's support for Africa.

    EPSA is an essential element of our partnership with the African Development Bank to address the social and economic challenges facing the continent.

    JICA is committed to working with EPSA to create a bright and prosperous future."

    The President of the African Development Bank Group, Dr. Akinwumi Adesina, said: “EPSA 5 is the kind of cooperation that Africa and the world need.

    The growing impacts of climate change, the Covid-19 pandemic and the war in Ukraine mean that we must do even more than we have already done to mobilize the private sector and create job opportunities in Africa.

    The newly signed initiative will have a positive impact on millions of lives across Africa.” Japan and the African Development Bank will join forces to support countries facing enormous challenges, including food security, climate change, health, digitalization and debt problems.

  •  The African Development Bank AfDB said private sector investment in Africa s infrastructure in 2020 was 19 billion dollars the highest since 2016 Mr Solomon Quaynor AfDB Vice President for the Private Sector Infrastructure and Industrialisation said this at a webinar organised by the bank and the Japan International Cooperation Agency JICA This is according to a statement issued by the Communication and External Relations Department of the bank The online event was held in the run up to the eighth Tokyo International Conference on African Development TICAD expected to take place in Tunisia from Aug 27 Aug to 28 The theme of the event was Private Sector Infrastructure Development Opportunities in Africa The vice president said the greater private sector investment came as most African governments contended with the COVID 19 pandemic limited fiscal space and high debt to Gross Domestic Product ratios Private sector investment in Africa s infrastructure rose to 19 billion dollars in 2020 representing 23 per cent the highest since 2016 This counter cyclical role played by the private sector shows the importance of its growing role in infrastructure financing in Africa he said Also speaking Keichiro Nakazawa the Senior Vice President of JICA said the discussion would focus on growth prospects for African countries and the role of the private sector in providing high quality sustainable infrastructure The panelists were Rami Ghandour from Metito Tshepidi Moremong from Africa 50 Vuyo Hlompho Ntoi from African Infrastructure Investment Managers and Yoshio Kushiya from Sumitomo Corporation They were joined by representatives of leading development finance institutions JICA s Shohei Hara Mike Salawou from the AfDB and Sue Barrett the Director European Bank for Reconstruction and Development The panelists shared perspectives success stories and the challenges they faced to plug Africa s estimated 67 billion dollars to 107 billion dollars annual infrastructure gap Vivek Mittal the Chief Executive Officer of the AfDB Association moderated the discussion Mittal said that four African countries accounted for the majority of private sector investment interest over the past two years The countries are Kenya South Africa Ghana and Nigeria He said digital activities in transportation and electricity received the highest interest Projects take too long eight to 10 years in Africa According to him the slow development of local talent is another drawback However Tshepidi Moremong said Africa 50 s robust pipeline in its priority sectors were ample proof that the continent had bankable projects Moremong said the sectors were energy transportation ports bridges ICT health and education She said that the group s experienced investment team worked closely with development finance institutions and commercial banks to ensure that their bankable projects continued She cited Kigali Innovation City a technology village that had broken the mould in terms of innovation as an example Rwanda an agriculture based economy sees diversification of its sectors as critical The success of this project is due to political will and capacity from both sponsors Rwanda s Development Board and investors Moremong said She said the parties had robust discussions on the allocation of risk which was one of the major investment hurdles Other general obstacles cited include limited deal pipelines weak feasibility studies technical studies and business plans and delays in obtaining licenses Mike Salawou also expressed interest to partner with JICA to do more adding that the bank was involved in a joint port in Morocco with the European Bank of Reconstruction and Development Furthermore Shohei Hara said JICA s long history working with governments would need to give way to a mind shift as they looked to greater participation in private sector financed infrastructure Governments have to change their mindsets as well as ourselves he said He also noted the role of multilateral partners such as the AfDB in mitigating risks such as foreign exchange political regulatory policy and payment obligations NewsSourceCredit NAN
    Private sector investment in Africa’s infrastructure in 2020 stands at bn —AfDB
     The African Development Bank AfDB said private sector investment in Africa s infrastructure in 2020 was 19 billion dollars the highest since 2016 Mr Solomon Quaynor AfDB Vice President for the Private Sector Infrastructure and Industrialisation said this at a webinar organised by the bank and the Japan International Cooperation Agency JICA This is according to a statement issued by the Communication and External Relations Department of the bank The online event was held in the run up to the eighth Tokyo International Conference on African Development TICAD expected to take place in Tunisia from Aug 27 Aug to 28 The theme of the event was Private Sector Infrastructure Development Opportunities in Africa The vice president said the greater private sector investment came as most African governments contended with the COVID 19 pandemic limited fiscal space and high debt to Gross Domestic Product ratios Private sector investment in Africa s infrastructure rose to 19 billion dollars in 2020 representing 23 per cent the highest since 2016 This counter cyclical role played by the private sector shows the importance of its growing role in infrastructure financing in Africa he said Also speaking Keichiro Nakazawa the Senior Vice President of JICA said the discussion would focus on growth prospects for African countries and the role of the private sector in providing high quality sustainable infrastructure The panelists were Rami Ghandour from Metito Tshepidi Moremong from Africa 50 Vuyo Hlompho Ntoi from African Infrastructure Investment Managers and Yoshio Kushiya from Sumitomo Corporation They were joined by representatives of leading development finance institutions JICA s Shohei Hara Mike Salawou from the AfDB and Sue Barrett the Director European Bank for Reconstruction and Development The panelists shared perspectives success stories and the challenges they faced to plug Africa s estimated 67 billion dollars to 107 billion dollars annual infrastructure gap Vivek Mittal the Chief Executive Officer of the AfDB Association moderated the discussion Mittal said that four African countries accounted for the majority of private sector investment interest over the past two years The countries are Kenya South Africa Ghana and Nigeria He said digital activities in transportation and electricity received the highest interest Projects take too long eight to 10 years in Africa According to him the slow development of local talent is another drawback However Tshepidi Moremong said Africa 50 s robust pipeline in its priority sectors were ample proof that the continent had bankable projects Moremong said the sectors were energy transportation ports bridges ICT health and education She said that the group s experienced investment team worked closely with development finance institutions and commercial banks to ensure that their bankable projects continued She cited Kigali Innovation City a technology village that had broken the mould in terms of innovation as an example Rwanda an agriculture based economy sees diversification of its sectors as critical The success of this project is due to political will and capacity from both sponsors Rwanda s Development Board and investors Moremong said She said the parties had robust discussions on the allocation of risk which was one of the major investment hurdles Other general obstacles cited include limited deal pipelines weak feasibility studies technical studies and business plans and delays in obtaining licenses Mike Salawou also expressed interest to partner with JICA to do more adding that the bank was involved in a joint port in Morocco with the European Bank of Reconstruction and Development Furthermore Shohei Hara said JICA s long history working with governments would need to give way to a mind shift as they looked to greater participation in private sector financed infrastructure Governments have to change their mindsets as well as ourselves he said He also noted the role of multilateral partners such as the AfDB in mitigating risks such as foreign exchange political regulatory policy and payment obligations NewsSourceCredit NAN
    Private sector investment in Africa’s infrastructure in 2020 stands at bn —AfDB
    Economy4 weeks ago

    Private sector investment in Africa’s infrastructure in 2020 stands at $19bn —AfDB

    The African Development Bank (AfDB), said private sector investment in Africa’s infrastructure in 2020 was 19 billion dollars, the highest since 2016. Mr Solomon Quaynor, AfDB Vice President for the Private Sector, Infrastructure and Industrialisation said this at a webinar organised by the bank and the Japan International Cooperation Agency (JICA).

    This is according to a statement issued by the Communication and External Relations Department of the bank.

    The online event was held in the run-up to the eighth Tokyo International Conference on African Development (TICAD) expected to take place in Tunisia from Aug. 27 Aug. to 28. The theme of the event was: “Private Sector Infrastructure Development Opportunities in Africa”.

    The vice president said the greater private sector investment came as most African governments contended with the COVID-19 pandemic, limited fiscal space and high debt-to-Gross Domestic Product ratios. 

    “Private sector investment in Africa’s infrastructure rose to 19 billion dollars in 2020, representing 23 per cent, the highest since 2016.  “This counter-cyclical role played by the private sector shows the importance of its growing role in infrastructure financing in Africa,” he said.

    Also speaking, Keichiro Nakazawa, the Senior Vice President of JICA said the discussion would focus on growth prospects for African countries and the role of the private sector in providing high-quality, sustainable infrastructure.

    The panelists were Rami Ghandour from Metito, Tshepidi Moremong from Africa 50, Vuyo Hlompho Ntoi from African Infrastructure Investment Managers, and Yoshio Kushiya from Sumitomo Corporation. 

    They were joined by representatives of leading development finance institutions, JICA’s Shohei Hara, Mike Salawou from the AfDB, and Sue Barrett, the Director, European Bank for Reconstruction and Development.

    The panelists shared perspectives, success stories and the challenges they faced to plug Africa’s estimated 67 billion dollars to 107 billion dollars annual infrastructure gap.

    Vivek Mittal, the Chief Executive Officer of the AfDB Association, moderated the discussion.

    Mittal said that four African countries accounted for the majority of private sector investment interest over the past two years. 

    The countries are Kenya, South Africa, Ghana and Nigeria.

    He said digital activities in transportation and electricity received the highest interest. 

    “Projects take too long, eight to 10 years in Africa.

    ” According to him, the slow development of local talent is another drawback.

    However, Tshepidi  Moremong said Africa 50’s robust pipeline in its priority sectors were ample proof that the continent had bankable projects. 

    Moremong said the sectors were energy, transportation, ports, bridges, ICT, health and education.

    She said that the group’s experienced investment team worked closely with development finance institutions and commercial banks, to ensure that their bankable projects continued.

    She cited Kigali Innovation City, a technology village that had broken the mould in terms of innovation as an example.

    “Rwanda, an agriculture-based economy, sees diversification of its sectors as critical.

    “The success of this project is due to political will and capacity from both sponsors, Rwanda’s Development Board, and investors,” Moremong said. 

    She said the parties had robust discussions on the allocation of risk which was one of the major investment hurdles.

    Other general obstacles cited include limited deal pipelines, weak feasibility studies, technical studies and business plans, and delays in obtaining licenses.

    Mike Salawou also expressed interest “to partner with JICA to do more”, adding that the bank was involved in a joint port in Morocco with the European Bank of Reconstruction and Development.

    Furthermore, Shohei Hara said JICA’s long history working with governments would need to give way to a mind shift as they looked to greater participation in private sector-financed infrastructure. 

    “Governments have to change their mindsets, as well as ourselves,” he said.

    He also noted the role of multilateral partners such as the AfDB in mitigating risks such as foreign exchange, political, regulatory, policy and payment obligations.  


    NewsSourceCredit: NAN

  •   Africa received its largest share of private sector investment in infrastructure in 2020 sending an important signal to governments and investors African Development Bank Vice President for Private Sector Infrastructure and Industrialization Solomon Quaynor underscored this point during a webinar hosted by the African Development Bank and the Japan International Cooperation Agency JICA on August 24 The online event was held in the run up to the eighth Tokyo International Conference on African Development or TICAD which takes place in Tunis from August 27 28 2022 Quaynor said the increased investment from the private sector came about as most African governments contended with the Covid 19 Pandemic limited fiscal space and high debt to GDP ratios Private sector investment in Africa s infrastructure increased to 19 billion in 2020 representing 23 the highest since 2016 This counter cyclical role being played by the private sector shows the importance of its growing role in infrastructure financing in Africa he said in remarks at the close of the webinar titled Private Sector Infrastructure Development Opportunities in Africa In opening remarks Keichiro Nakazawa Senior Vice President of the Japan International Cooperation Agency said the discussion will focus on the growth prospects of African countries and the role of the private sector in providing high quality sustainable infrastructure The panelists were Rami Ghandour Metito Tshepidi Moremong Africa 50 Vuyo Hlompho Ntoi African Infrastructure Investment Managers and Yoshio Kushiya Sumitomo Corporation They were joined by representatives of leading development finance institutions Shohei Hara of JICA Mike Salawou of the African Development Bank and the director of the European Bank for Reconstruction and Development Sue Barrett Panelists shared perspectives success stories and the challenges they faced in closing Africa s estimated 67 107 billion annual infrastructure gap Vivek Mittal Executive Director of the Africa Infrastructure Development Association moderated the discussion Mittal pointed out that four African countries Kenya South Africa Ghana and Nigeria accounted for most of the investment interest from the private sector in the last two years Mittal said digital activity in transportation and electricity received the most interest Urban sanitation a key component of infrastructure lagged behind Projects take too long 8 to 10 years in Africa Mittal said adding that the slow development of local talent was another drawback According to Moremong the strong portfolio of Africa 50 projects in its priority sectors energy transport ports bridges ICT health and education is ample proof that the continent has bankable projects The group s experienced investment team works closely with development finance institutions and commercial banks to ensure that their bankable projects continue He gave the example of Kigali Innovation City a tech village that has broken the mold in terms of innovation Rwanda an economy based on agriculture considers the diversification of its sectors critical The success of this project is due to the political will and capacity of both the sponsors the Rwanda Development Board and the investors Moremong said She said the sides had strong discussions about risk allocation one of the main investment hurdles Other general obstacles cited include limited draft agreements weak feasibility studies technical studies and business plans and delays in obtaining licences The African Development Bank the continent s main infrastructure financier has concluded an important public private project in Kenya the Nairobi Nakuru Mau road PPP with an investment of 200 million dollars We would like to partner with JICA to do more said Salawou noting that the Bank was involved in a joint port in Morocco with the European Bank for Reconstruction and Development Shohei Hara said that JICA s long history of working with governments should give way to a change in mindset as they seek greater participation in infrastructure financed by the private sector Governments have to change their mentality as do we ourselves he said He also highlighted the role of multilateral partners such as the African Development Bank in mitigating risks such as foreign exchange political regulatory policy and payment obligations During a recent trip to South Africa Quaynor said she met with several key Japanese private sector companies with regional headquarters in Johannesburg involved in multiple infrastructure sectors Given the maturity of the Japanese markets these companies are strategically expanding globally but with clear expectations of risk adjusted returns she said It s good to see that our focus has been on solutions Quaynor also highlighted the Africa Green Infrastructure Alliance led by the African Development Bank Africa50 and various global and African partners including the African Union Commission and African Union Development Agency AUDA NEPAD the Rockefeller Foundation the European Investment Bank the European Bank of Reconstruction and Development the Agence fran aise de d veloppement and the African Sovereign Investors Forum The Alliance seeks to develop green and smart infrastructure with scale and speed in energy transportation water and sanitation ICT health and urban and rural infrastructure We encourage JICA and JBIC to consider supporting this facility with funds and grants on concessional terms We also encourage Japanese private sector companies to contribute patient commercial capital to ensure that large scale green infrastructure projects are developed rapidly in Africa said Quaynor
    Africa’s record private investment in infrastructure in 2020 sends a strong signal, African Development Bank Vice President (VP) tells panel at Tokyo International Conference on African Development (TICAD)
      Africa received its largest share of private sector investment in infrastructure in 2020 sending an important signal to governments and investors African Development Bank Vice President for Private Sector Infrastructure and Industrialization Solomon Quaynor underscored this point during a webinar hosted by the African Development Bank and the Japan International Cooperation Agency JICA on August 24 The online event was held in the run up to the eighth Tokyo International Conference on African Development or TICAD which takes place in Tunis from August 27 28 2022 Quaynor said the increased investment from the private sector came about as most African governments contended with the Covid 19 Pandemic limited fiscal space and high debt to GDP ratios Private sector investment in Africa s infrastructure increased to 19 billion in 2020 representing 23 the highest since 2016 This counter cyclical role being played by the private sector shows the importance of its growing role in infrastructure financing in Africa he said in remarks at the close of the webinar titled Private Sector Infrastructure Development Opportunities in Africa In opening remarks Keichiro Nakazawa Senior Vice President of the Japan International Cooperation Agency said the discussion will focus on the growth prospects of African countries and the role of the private sector in providing high quality sustainable infrastructure The panelists were Rami Ghandour Metito Tshepidi Moremong Africa 50 Vuyo Hlompho Ntoi African Infrastructure Investment Managers and Yoshio Kushiya Sumitomo Corporation They were joined by representatives of leading development finance institutions Shohei Hara of JICA Mike Salawou of the African Development Bank and the director of the European Bank for Reconstruction and Development Sue Barrett Panelists shared perspectives success stories and the challenges they faced in closing Africa s estimated 67 107 billion annual infrastructure gap Vivek Mittal Executive Director of the Africa Infrastructure Development Association moderated the discussion Mittal pointed out that four African countries Kenya South Africa Ghana and Nigeria accounted for most of the investment interest from the private sector in the last two years Mittal said digital activity in transportation and electricity received the most interest Urban sanitation a key component of infrastructure lagged behind Projects take too long 8 to 10 years in Africa Mittal said adding that the slow development of local talent was another drawback According to Moremong the strong portfolio of Africa 50 projects in its priority sectors energy transport ports bridges ICT health and education is ample proof that the continent has bankable projects The group s experienced investment team works closely with development finance institutions and commercial banks to ensure that their bankable projects continue He gave the example of Kigali Innovation City a tech village that has broken the mold in terms of innovation Rwanda an economy based on agriculture considers the diversification of its sectors critical The success of this project is due to the political will and capacity of both the sponsors the Rwanda Development Board and the investors Moremong said She said the sides had strong discussions about risk allocation one of the main investment hurdles Other general obstacles cited include limited draft agreements weak feasibility studies technical studies and business plans and delays in obtaining licences The African Development Bank the continent s main infrastructure financier has concluded an important public private project in Kenya the Nairobi Nakuru Mau road PPP with an investment of 200 million dollars We would like to partner with JICA to do more said Salawou noting that the Bank was involved in a joint port in Morocco with the European Bank for Reconstruction and Development Shohei Hara said that JICA s long history of working with governments should give way to a change in mindset as they seek greater participation in infrastructure financed by the private sector Governments have to change their mentality as do we ourselves he said He also highlighted the role of multilateral partners such as the African Development Bank in mitigating risks such as foreign exchange political regulatory policy and payment obligations During a recent trip to South Africa Quaynor said she met with several key Japanese private sector companies with regional headquarters in Johannesburg involved in multiple infrastructure sectors Given the maturity of the Japanese markets these companies are strategically expanding globally but with clear expectations of risk adjusted returns she said It s good to see that our focus has been on solutions Quaynor also highlighted the Africa Green Infrastructure Alliance led by the African Development Bank Africa50 and various global and African partners including the African Union Commission and African Union Development Agency AUDA NEPAD the Rockefeller Foundation the European Investment Bank the European Bank of Reconstruction and Development the Agence fran aise de d veloppement and the African Sovereign Investors Forum The Alliance seeks to develop green and smart infrastructure with scale and speed in energy transportation water and sanitation ICT health and urban and rural infrastructure We encourage JICA and JBIC to consider supporting this facility with funds and grants on concessional terms We also encourage Japanese private sector companies to contribute patient commercial capital to ensure that large scale green infrastructure projects are developed rapidly in Africa said Quaynor
    Africa’s record private investment in infrastructure in 2020 sends a strong signal, African Development Bank Vice President (VP) tells panel at Tokyo International Conference on African Development (TICAD)
    Africa4 weeks ago

    Africa’s record private investment in infrastructure in 2020 sends a strong signal, African Development Bank Vice President (VP) tells panel at Tokyo International Conference on African Development (TICAD)

    Africa received its largest share of private sector investment in infrastructure in 2020, sending an important signal to governments and investors.

    African Development Bank Vice President for Private Sector, Infrastructure and Industrialization Solomon Quaynor underscored this point during a webinar hosted by the African Development Bank and the Japan International Cooperation Agency (JICA) on August 24.

    The online event was held in the run-up to the eighth Tokyo International Conference on African Development, or TICAD, which takes place in Tunis from August 27-28, 2022.

    Quaynor said the increased investment from the private sector came about as most African governments contended with the Covid-19 Pandemic, limited fiscal space, and high debt-to-GDP ratios.

    “Private sector investment in Africa's infrastructure increased to $19 billion in 2020, representing 23%, the highest since 2016.

    This counter-cyclical role being played by the private sector shows the importance of its growing role in infrastructure financing in Africa,” he said in remarks at the close of the webinar, titled Private Sector Infrastructure Development Opportunities in Africa.

    In opening remarks, Keichiro Nakazawa, Senior Vice President of the Japan International Cooperation Agency, said the discussion will focus on the growth prospects of African countries and the role of the private sector in providing high-quality sustainable infrastructure.

    .

    The panelists were Rami Ghandour (Metito), Tshepidi Moremong (Africa 50), Vuyo Hlompho Ntoi (African Infrastructure Investment Managers), and Yoshio Kushiya (Sumitomo Corporation).

    They were joined by representatives of leading development finance institutions: Shohei Hara of JICA, Mike Salawou of the African Development Bank, and the director of the European Bank for Reconstruction and Development, Sue Barrett.

    Panelists shared perspectives, success stories and the challenges they faced in closing Africa's estimated $67-107 billion annual infrastructure gap.

    Vivek Mittal, Executive Director of the Africa Infrastructure Development Association, moderated the discussion.

    Mittal pointed out that four African countries - Kenya, South Africa, Ghana and Nigeria - accounted for most of the investment interest from the private sector in the last two years.

    Mittal said digital activity in transportation and electricity received the most interest.

    Urban sanitation, a key component of infrastructure, lagged behind.

    “Projects take too long, 8 to 10 years, in Africa,” Mittal said, adding that the slow development of local talent was another drawback.

    According to Moremong, the strong portfolio of Africa 50 projects in its priority sectors (energy, transport, ports, bridges, ICT, health and education) is ample proof that the continent has bankable projects.

    The group's experienced investment team works closely with development finance institutions and commercial banks to ensure that their bankable projects continue.

    He gave the example of Kigali Innovation City, a tech village that has broken the mold in terms of innovation.

    Rwanda, an economy based on agriculture, considers the diversification of its sectors critical.

    “The success of this project is due to the political will and capacity of both the sponsors, the Rwanda Development Board, and the investors,” Moremong said.

    She said the sides had strong discussions about risk allocation, one of the main investment hurdles.

    Other general obstacles cited include limited draft agreements, weak feasibility studies, technical studies and business plans, and delays in obtaining licences.

    The African Development Bank, the continent's main infrastructure financier, has concluded an important public-private project in Kenya, the Nairobi-Nakuru-Mau road PPP, with an investment of 200 million dollars.

    “We would like to partner with JICA to do more,” said Salawou, noting that the Bank was involved in a joint port in Morocco with the European Bank for Reconstruction and Development.

    Shohei Hara said that JICA's long history of working with governments should give way to a change in mindset as they seek greater participation in infrastructure financed by the private sector.

    “Governments have to change their mentality, as do we ourselves,” he said.

    He also highlighted the role of multilateral partners, such as the African Development Bank, in mitigating risks such as foreign exchange, political, regulatory, policy and payment obligations.

    During a recent trip to South Africa, Quaynor said she met with several key Japanese private sector companies with regional headquarters in Johannesburg, involved in multiple infrastructure sectors.

    “Given the maturity of the Japanese markets, these companies are strategically expanding globally but with clear expectations of risk-adjusted returns,” she said.

    "It's good to see that our focus has been on solutions."

    Quaynor also highlighted the Africa Green Infrastructure Alliance, led by the African Development Bank, Africa50 and various global and African partners, including the African Union Commission and African Union Development Agency (AUDA-NEPAD), the Rockefeller Foundation, the European Investment Bank, the European Bank of Reconstruction and Development, the Agence française de développement and the African Sovereign Investors Forum.

    The Alliance seeks to develop green and smart infrastructure with scale and speed in energy, transportation, water and sanitation, ICT, health, and urban and rural infrastructure.

    “We encourage JICA and JBIC to consider supporting this facility with funds and grants on concessional terms.

    We also encourage Japanese private sector companies to contribute patient commercial capital to ensure that large scale green infrastructure projects are developed rapidly in Africa,” said Quaynor.

  •   With funding from the Government of Japan and in partnership with the Japan International Cooperation Agency JICA the Government of Kenya and the Kenya Electricity Generating Company PLC KenGen the United Nations Industrial Development Organization UNIDO launched his Strengthening Capacity for Operation and Maintenance with Internet of Things IoT Technologies for the Olkaria Geothermal Power Plant in Kenya The IoT project is fully aligned with the National Development Program of the Republic of Kenya as outlined in the Kenya Vision 2030 as well as the Sustainable Development Goals SDGs and especially SDG 7 on clean energy and affordable as well as SDG 9 on industry innovation and infrastructure Overall the IoT project aims to install and demonstrate the effectiveness of IoT technology at the Olkaria geothermal power plant along with the provision of technical and awareness training The project will centralize accumulate and further analyze operational data in a data center equipped with specialized servers and collection and transmission systems The data collected and stored by the IoT system will help us make informed decisions about what maintenance to perform said KenGen Acting Operations Manager Ing Harrison Keter It will also help us project the needs that we require in the near future Despite the multiple unforeseeable challenges caused by the COVID 19 pandemic during the implementation phase of the project the installation of the IoT technology was successfully concluded and the designated personnel at KenGen were able to complete the associated trainings In addition based on the assets already provided by the project JICA will provide advanced capacity building programs to further improve operations and maintenance O M at the power plant We are pleased to be able to help KenGen make significant progress towards sustainability by providing a digital transformation solution for integrated remote yield management said Koji Nakaoka Vice President and Head of Energy Sustainability Business and Global Sales at Yokogawa the IoT solution provider The solution not only optimizes maintenance and maximizes power generation efficiency but also ensures stable power supply The experience and insights gained through the IoT project will inform other power plants as well as the broader industry sector in the country and beyond about the opportunities provided by innovative technologies to address constraints related to efficiency and reliability productivity The application of IoT technology is rapidly spreading across industrial sectors as these innovations enable digital connection of devices information sharing and process control leading to various benefits such as increased efficiency and productivity as well as a reduction in operation and maintenance costs
    The United Nations Industrial Development Organization (UNIDO) and Japan improve operations at a geothermal power station in Kenya by implementing Internet of Things (IoT) technology
      With funding from the Government of Japan and in partnership with the Japan International Cooperation Agency JICA the Government of Kenya and the Kenya Electricity Generating Company PLC KenGen the United Nations Industrial Development Organization UNIDO launched his Strengthening Capacity for Operation and Maintenance with Internet of Things IoT Technologies for the Olkaria Geothermal Power Plant in Kenya The IoT project is fully aligned with the National Development Program of the Republic of Kenya as outlined in the Kenya Vision 2030 as well as the Sustainable Development Goals SDGs and especially SDG 7 on clean energy and affordable as well as SDG 9 on industry innovation and infrastructure Overall the IoT project aims to install and demonstrate the effectiveness of IoT technology at the Olkaria geothermal power plant along with the provision of technical and awareness training The project will centralize accumulate and further analyze operational data in a data center equipped with specialized servers and collection and transmission systems The data collected and stored by the IoT system will help us make informed decisions about what maintenance to perform said KenGen Acting Operations Manager Ing Harrison Keter It will also help us project the needs that we require in the near future Despite the multiple unforeseeable challenges caused by the COVID 19 pandemic during the implementation phase of the project the installation of the IoT technology was successfully concluded and the designated personnel at KenGen were able to complete the associated trainings In addition based on the assets already provided by the project JICA will provide advanced capacity building programs to further improve operations and maintenance O M at the power plant We are pleased to be able to help KenGen make significant progress towards sustainability by providing a digital transformation solution for integrated remote yield management said Koji Nakaoka Vice President and Head of Energy Sustainability Business and Global Sales at Yokogawa the IoT solution provider The solution not only optimizes maintenance and maximizes power generation efficiency but also ensures stable power supply The experience and insights gained through the IoT project will inform other power plants as well as the broader industry sector in the country and beyond about the opportunities provided by innovative technologies to address constraints related to efficiency and reliability productivity The application of IoT technology is rapidly spreading across industrial sectors as these innovations enable digital connection of devices information sharing and process control leading to various benefits such as increased efficiency and productivity as well as a reduction in operation and maintenance costs
    The United Nations Industrial Development Organization (UNIDO) and Japan improve operations at a geothermal power station in Kenya by implementing Internet of Things (IoT) technology
    Africa1 month ago

    The United Nations Industrial Development Organization (UNIDO) and Japan improve operations at a geothermal power station in Kenya by implementing Internet of Things (IoT) technology

    With funding from the Government of Japan, and in partnership with the Japan International Cooperation Agency (JICA), the Government of Kenya and the Kenya Electricity Generating Company PLC (KenGen), the United Nations Industrial Development Organization (UNIDO) launched his “Strengthening Capacity for Operation and Maintenance with Internet of Things (IoT) Technologies for the Olkaria Geothermal Power Plant in Kenya”.

    The IoT project is fully aligned with the National Development Program of the Republic of Kenya, as outlined in the Kenya Vision 2030, as well as the Sustainable Development Goals (SDGs), and especially SDG 7 on clean energy and affordable, as well as SDG 9 on industry.

    , innovation and infrastructure.

    Overall, the IoT project aims to install and demonstrate the effectiveness of IoT technology at the Olkaria geothermal power plant, along with the provision of technical and awareness training.

    The project will centralize, accumulate and further analyze operational data in a data center equipped with specialized servers and collection and transmission systems.

    “The data collected and stored by the IoT system will help us make informed decisions about what maintenance to perform,” said KenGen Acting Operations Manager Ing. Harrison Keter.

    "It will also help us project the needs that we require in the near future."

    Despite the multiple unforeseeable challenges caused by the COVID-19 pandemic during the implementation phase of the project, the installation of the IoT technology was successfully concluded and the designated personnel at KenGen were able to complete the associated trainings.

    In addition, based on the assets already provided by the project, JICA will provide advanced capacity building programs to further improve operations and maintenance (O&M) at the power plant.

    "We are pleased to be able to help KenGen make significant progress towards sustainability by providing a digital transformation solution for integrated remote yield management," said Koji Nakaoka, Vice President and Head of Energy & Sustainability Business and Global Sales at Yokogawa, the IoT.

    solution provider.

    "The solution not only optimizes maintenance and maximizes power generation efficiency, but also ensures stable power supply."

    The experience and insights gained through the IoT project will inform other power plants, as well as the broader industry sector, in the country and beyond, about the opportunities provided by innovative technologies to address constraints related to efficiency and reliability.

    productivity.

    The application of IoT technology is rapidly spreading across industrial sectors as these innovations enable digital connection of devices, information sharing and process control, leading to various benefits such as increased efficiency and productivity.

    , as well as a reduction in operation and maintenance costs.

  •  Cross River Agricultural Development Programme ADP on Wednesday in Calabar began step down training programme for 30 extention agents on new approach to agriculture The News Agency of Nigeria reports that the new approach Smallholder Horticulture Empowerment and Promotion SHEP is designed to change the orientation of farmers to farming The Cross River s Director for Agricultural Extension Services Mr Nathaniel Nkor who flagged off the programme said the approach tended to shift emphasis from consumption to marketing aspect of agriculture He said that the approach was aimed at generating income for farmers as well as employment creation This approach will take us from where we were to a new level It will add wealth to the income of farmers and also enhance production In essence the approach changes farmers mindset from farming for consumption to farming to make profit he said Nkor who said he would work to see to the success of the project however noted that farmers in the state must be ready to embrace the change Earlier in his address the Programme Manager Cross River ADP Mr Bassey Etim said the theme of the project Grow and Sell to Grow to Sell was also aimed at improving farmers farming skills Etim stressed that the extention agents were carefully selected from the 18 Local Government Areas of the state He said that the training which would end on Friday was meant to sufficiently equipp the agents who would in turn pass the knowledge to the farmers This programme must be taken seriously because it wasn t an easy ride for us to be here Cross Riverx is fortunate to be chosen among 12 competitive states that were further reduced to six states in the second phase of the this programme he said The ADP programme manager listed the six participating states to include Cross River Ogun Kebbi Gombe Anambra and Benue Etim said the SHEP project was developed by Japan International Coorperation Agency JICA and supported by the Federal Government NewsSourceCredit NAN
    ADP trains 30 extension agents on new farming approach
     Cross River Agricultural Development Programme ADP on Wednesday in Calabar began step down training programme for 30 extention agents on new approach to agriculture The News Agency of Nigeria reports that the new approach Smallholder Horticulture Empowerment and Promotion SHEP is designed to change the orientation of farmers to farming The Cross River s Director for Agricultural Extension Services Mr Nathaniel Nkor who flagged off the programme said the approach tended to shift emphasis from consumption to marketing aspect of agriculture He said that the approach was aimed at generating income for farmers as well as employment creation This approach will take us from where we were to a new level It will add wealth to the income of farmers and also enhance production In essence the approach changes farmers mindset from farming for consumption to farming to make profit he said Nkor who said he would work to see to the success of the project however noted that farmers in the state must be ready to embrace the change Earlier in his address the Programme Manager Cross River ADP Mr Bassey Etim said the theme of the project Grow and Sell to Grow to Sell was also aimed at improving farmers farming skills Etim stressed that the extention agents were carefully selected from the 18 Local Government Areas of the state He said that the training which would end on Friday was meant to sufficiently equipp the agents who would in turn pass the knowledge to the farmers This programme must be taken seriously because it wasn t an easy ride for us to be here Cross Riverx is fortunate to be chosen among 12 competitive states that were further reduced to six states in the second phase of the this programme he said The ADP programme manager listed the six participating states to include Cross River Ogun Kebbi Gombe Anambra and Benue Etim said the SHEP project was developed by Japan International Coorperation Agency JICA and supported by the Federal Government NewsSourceCredit NAN
    ADP trains 30 extension agents on new farming approach
    General news2 months ago

    ADP trains 30 extension agents on new farming approach

    Cross River Agricultural Development Programme (ADP) on Wednesday in Calabar, began step down training programme for 30 extention agents on new approach to agriculture.

    The News Agency of Nigeria reports that the new approach, Smallholder Horticulture Empowerment and Promotion (SHEP), is designed to change the orientation of farmers to farming.

    The Cross River’s Director for Agricultural Extension Services, Mr Nathaniel Nkor who flagged off the programme, said the approach tended to shift emphasis from consumption to marketing aspect of agriculture.

    He said that the approach was aimed at generating income for farmers as well as employment creation.

    “This approach will take us from where we were to a new level.

    It will add wealth to the income of farmers and also enhance production.

    “In essence, the approach changes farmers’ mindset from farming for consumption to farming to make profit,” he said.

    Nkor who said he would work to see to the success of the project, however, noted that farmers in the state must be ready to embrace the change.

    Earlier in his address, the Programme Manager, Cross River ADP, Mr Bassey Etim, said the theme of the project, “Grow and Sell” to “Grow to Sell” was also aimed at improving farmers’ farming skills.

    Etim stressed that the extention agents were carefully selected from the 18 Local Government Areas of the state.

    He said that the training which would end on Friday was meant to sufficiently equipp the agents who would in turn pass the knowledge to the farmers.

    “This programme must be taken seriously because it wasn’t an easy ride for us to be here.

    “Cross Riverx is fortunate to be chosen among 12 competitive states that were further reduced to six states in the second phase of the this programme,” he said.

    The ADP programme manager listed the six participating states to include: Cross River, Ogun, Kebbi, Gombe, Anambra and Benue.

    Etim said the SHEP project was developed by Japan International Coorperation Agency (JICA) and supported by the Federal Government.


    NewsSourceCredit: NAN