This archive report was first published on 28 August 2019.
African countries have called for more Public Private Partnership projects between their governments and Japanese entities, citing the PPP model as the most ideal approach to achieving sustainable development on the continent.
On August 28, 2019, African Union Commission Chairperson Moussa Faki made this call at the opening ceremony of the Seventh Tokyo International Conference on African Development (TICAD 7) in Yokohama, Japan.
Mr. Faki emphasized that through Public Private Partnerships, African enterprises with the support of Japanese investments will be able to fully exploit the resource potential of the continent for the benefit of all Africans.
He pointed out that this aspiration was demonstrated by the strong private sector representation and participation in the TICAD 6 conference held in Nairobi, Kenya in 2016.
Speaking on behalf of the World Bank Group, the Chief Executive Officer of the International Finance Corporation, Philippe Le Houérou reiterated Africa’s position, saying the future of African economies will largely be shaped by the performance of the continent’s private sector.
“We need the private sector to seize more of the brighter opportunity than the possible risk to do business in Africa. Together, the public and the private sector can literally ignite the continent’s economy,” Mr. Le Houérou said.
United Nations Secretary General Antonio Guterres urged TICAD member states to tap more into the growing youth population in Africa by enhancing development through innovative solutions.
Japan Prime Minister Shinzo Abe announced a new initiative by the Japanese Government that seeks to strengthen judicial and law enforcement systems of African nations, dubbed New Approach for Peace and Stability in Africa (NAPSA).
Through TICAD, PM Abe said Japan had invested over 20 billion dollars in Africa in the last 3 years.
