Invest in Africa, leaders urge Japan

Deputy President William Ruto (right) confers with Kenyan ambassador to Japan Benson Ogutu (centre) and Moi Lemoshira, a protocol official from Ministry of Foreign Affairs (left) in Japan May 30, 2013. Mr Ruto is in Japan to attend the Tokyo International Conference on Africa Development 5 Conference in Yokohama. African leaders have pitched for more investment opportunities as opposed to aid from Japan. DPPS  

By DPPS

In Summary

• Leaders urge Tokyo to invest in agriculture, human resource development and manufacturing sectors in Africa.
• Deputy President William Ruto says African Governments should focus on providing a conducive environment to attract investors.

African leaders have pitched for more investment opportunities as opposed to aid from Japan.

The leaders who spoke during a meeting with representatives of the Japanese Government urged Tokyo to invest in agriculture, human resource development and manufacturing sectors in Africa.

Traditionally, Japan has concentrated more on extraction of minerals and infrastructure.

The African leaders who attended the meeting included Kenya's Deputy President William Ruto, Ethiopian Prime Minister Hailemariam Desalegn, Liberia's President Ellen Sirleaf and World Bank Vice President for Africa Region Makhtar Diop.

"We want more trade investments than aid. Africa's potential for investment is high," said Mr Desalegn.

The Ethiopian PM also challenged African countries to enact more laws to facilitate and attract investment.

Mr Ruto said African Governments should focus on providing a conducive environment to attract investors.

"We intend to provide new impetus to ensure the private sector helps the government in its pledges...that should be the goal in the continent," the deputy president said.

President Sirleaf observed that the African continent was growing at a fast rate because of two decades of reforms.

Quoting an International Monetary Fund report she said: "Africa is growing at a rate of between five and eight per cent and this shows it is very attractive for investment by the private sector."

However, she argued that the growth was not reflected  and transformed in the lives of the people as more than 50 per cent still lived below the poverty line.

"We should ensure that our growth is translated into economic emancipation of our people," she said.

In a separate meeting with Japan Association of Corporate Executives, Mr Ruto said the government will provide a good climate for investment.

He praised the Japanese Government and companies involved in geothermal development, funding technology training and the expansion of the Mombasa Port among other areas.

Mr Diop said the reforms the continent underwent in the 1980's and 90's was now "paying fruits".

However, he said low access and adoption of technology was still a problem in Africa. But Japan could assist the continent prosper.