Organizers and panelists on stage
A view of the presentation
On November 16, 2016, the "TICAD VI Follow-up Seminar: Business Prospects in Africa and Support Schemes" was held. The seminar was organized by the African Development Bank (AfDB) External Representation Office for Asia, African Diplomatic Corp (ADC), and the United Nations Industrial Development Organization’s Investment and Technology Promotion Office, Tokyo (UNIDO ITPO Tokyo), and co-organized by the Japan Bank for International Cooperation (JBIC), Japan External Trade Organization (JETRO), Japan International Cooperation Agency (JICA), World Bank Tokyo Office, and the United Nations Development Programme (UNDP) Representative Office in Japan.
The captioned seminar targeted both private sector representatives and members of the public interested in business development in Africa, with the purpose of sharing the achievements of the 6th Tokyo International Conference on African Development (TICAD VI) held in Nairobi, Republic of Kenya in August 2016 as well as introducing measures to support businesses in Africa by international organizations and Japanese government agencies.
From JBIC, Takahiro Kuchiki, Director of Division 2, Mining and Metals Finance Dept., Energy and Natural Resources Finance Group, participated in the session entitled "Achievements of Governmental / International Organization in TICAD VI and Support Schemes for the Private Sector" as a panelist. During his presentation, Kuchiki introduced the JBIC Facility for African Investment and Trade Enhancement 2 (FAITH2)*1 launched in August 2016, as well as loan agreements that JBIC has signed with the African Export-Import Bank (Afreximbank)*2 and the Eastern and Southern African Trade and Development Bank (PTA Bank),*3 respectively, for setting up an export credit line.
He also explained, "While the African economy is susceptible to fluctuations in commodity prices to a certain extent, some Japanese brands have already penetrated into the African market amid the growing population and economies. Our understanding is that more business opportunities will be generated from a medium to long-term perspective. JBIC is committed to extending financial support to Japanese companies that expand their businesses in Africa, including mid-tier enterprises and small and medium-sized enterprises."
JBIC will continue to actively provide information toward realizing the growth of the African economy through the promotion of trade and investment in Africa by Japanese companies by leveraging these kinds of opportunities to provide presentations at international forums in the future.