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The Japan Bank for International Cooperation (JBIC Governor: Tadashi Maeda) signed today a Memorandum of Understanding (MoU) with the Development Bank of Southern Africa (DBSA), a governmental financial institution in the Republic of South Africa, for business promotion between Japan and the African countries, taking the opportunity of the seventh Tokyo International Conference on African Development (TICAD 7) held from August 28 to 30 in Yokohama, Japan.
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The objective of this MoU is to reinforce the exchange of information between JBIC and DBSA on political and economic climates as well as potential projects in African countries.
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DBSA was established by the government of the Republic of South Africa with the aim of providing financial support and advice for social and economic development in the Southern African region and thus improve standards of living in the region. In recent years, the DBSA has forged strong relations with governments on the continent and extended its mandate to the rest of the Africa.
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A proposal for the TICAD7 Public-Private Roundtable Meeting was submitted by Japanese companies to Prime Minister Abe on April 2, 2019. In the proposal, "development and utilization of versatile partnerships including a wide range of channels and third-country cooperation" was incorporated as one of the requests from Japanese companies wishing to expand businesses in Africa. In particular, it is expected that "ministries and public institutions provide support with their network so that the foreign governments and organizations which have knowledge and insight into Africa and private Japanese companies will be able to share necessary information, knowledge, network and resources, and cooperate together for project development."
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As Japan's policy-based financial institution, JBIC will continue to actively support the creation and promotion of business opportunities for Japanese companies operating in Africa while collaborating with regional development finance institutions.
