African Development Bank encourages Japanese private sector to invest in agribusiness in Africa
The African Development Bank held a seminar focusing on agribusiness on May 29, 2018 in Tokyo, Japan. This was the first joint event with Sasakawa Africa Association, following the signing of a Memorandum of Understanding (MoU) at the Sixth Tokyo International Conference on African Development (TICAD VI) in Nairobi, Kenya, in 2016.
The seminar on “Investing in Agriculture and Agribusinesses in Africa” attracted over 120 participants from Government, private sector, embassies, international organizations, and academia.
Atsuko Toda, Director, Agricultural Finance and Rural Development at the African Development Bank, underscored the enormous investment opportunities in African agriculture sector, spurred by successful democratic transitions, increasing export flows and rise of the middle class. Agribusiness in Africa has huge potential and is expected to grow. Atsuko stressed that the Japanese private sector could play a key role in contributing to further development of agricultural sector and eliminating poverty in Africa.
The seminar was part of activities led by the Bank’s Asia External Representation (SNAR), which regularly organizes various events with special focus on the promotion of Africa-Asia business relations. The latest seminar is expected to help accelerate the momentum within Japanese communities for the upcoming Africa Investment Forum to be held in November 2018 in Johannesburg, South Africa, as well as TICAD VII in 2019.