Jin: Japan looking to deepen ties with Africa

Wakabayashi Jin, the Senior Deputy Director General at the Japan International Corporation Agency (Jaika), emphasizes the importance of Africa absorbing more investment to scale up development. In a recent interview with CNBC Africa, Jin highlighted the significance of Africa-Japan relations and shed light on key discussions set to take place at the Tokyo International Conference on African Development (TICAD) next year. Jin discussed the sectors Jaika prioritizes in its agreements with Africa, including agriculture, rural development, climate change, food security, infrastructure, and human capital enhancement. The agency provides technical cooperation, grants, or loan assistance, with a particular focus on supporting private sector projects through debt and equity financing. Jaika collaborates closely with institutions like the African Development Bank (AFDB), Development Bank of Southern Africa (DBSA), and Trade and Development Bank (TDB), and has co-financed several projects with these partners. The impact of COVID-19 on the economic landscape has been profound, with Jin acknowledging the resilience Africa has shown in the face of challenges. Despite concerns about debt accumulation and perceived risks, Jin noted the robust and enthusiastic approach of the private sector towards progress in various fields. Jaika is leveraging its financial and human resources to support key sectors and build on its long history of working with African governments. With offices across the continent, Jaika has actively engaged in deal room activities at events like the Africa Investment Forum (AIF). The agency has participated in numerous boardroom deals and meetings, gathering valuable information and exploring opportunities for cooperation. Jin underscored the importance of digitalization and agriculture development, areas of focus for JICA's development cooperation in Africa. Looking ahead to the future of Africa-Japan relations, Jin highlighted the upcoming TICAD conference in Yokohama, Japan. The ninth edition of TICAD will focus on the economy and human capital development, recognizing the critical role Africa's population will play on the global stage. Japan's history of human capital development activities, including training programs and educational exchanges, has strengthened ties between the two regions and facilitated increased investment. In conclusion, Jin emphasized the importance of engaging Africa's growing population and leveraging human connections to drive future cooperation and development between Africa and Japan. The upcoming TICAD conference presents a significant opportunity to further deepen ties and explore new avenues for collaboration.