The Japanese Prime Minister, Shigeru Ishiba, has announced a collaborative economic framework between Japan and the African Development Bank that will see a maximum of $5.5 billion disbursed to Africa. This was disclosed at the ninth meeting of the Tokyo International Conference for African Development (TICAD9) in Yokohama, Japan. The funding will utilize Japan International Cooperation Agency private sector investment finance as a catalyst, focusing on private sector-led sustainable growth, youth and women empowerment, and regional integration
According to Prime Minister Ishiba, locally rooted solutions are essential for Africa’s development. Japan aims to support Africa through various cooperation and support initiatives, emphasizing the need for mutual understanding and collaborative efforts. Ishiba highlighted the positives of Africa’s youthful population, stating that creating manufacturing industries and employment opportunities is crucial for realizing the power of young people in Africa. He also noted that Japan faces its own challenges, including a declining population and shrinking agricultural land, and appealed to African countries to assist Japan in addressing these issues.
President Bola Tinubu, who attended the conference, lauded the Nigerian Armed Forces for their successes in the war against insurgency and criminality. He emphasized his administration’s commitment to addressing the root causes of insecurity through strengthening the government security apparatus and ongoing economic reforms. Tinubu stressed the importance of peace and stability for meaningful development, citing recent peace pacts brokered in the Congo as evidence that a new model of mediation and economic considerations can yield success.
– Private Sector-Led Growth: Japan’s focus on private sector-led sustainable growth aims to improve Africa’s manufacturing sector productivity and create employment opportunities.
– Youth and Women Empowerment: Empowering youth and women is crucial for Africa’s development, with a focus on creating manufacturing industries and promoting economic growth.
– Regional Integration: Regional integration and connectivity within and beyond Africa are essential for promoting economic development and cooperation.
President Tinubu also called on the Japanese government to support the campaign for reforms in the United Nations’ organs, especially the United Nations Security Council, to give African countries a greater voice. He emphasized that Africa deserves two seats in the Permanent Category, with all its prerogatives and privileges, including the Right of Veto, and additional seats in the non-permanent seat category of the Security.
