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Investing in Africa is profitable, African Development Bank President tells Japanese investors

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African Development Bank

While the number of Japanese companies in Africa increased from 520 in 2010 to 900 in 2020, Adesina called for more venture capital and private equity funds to tap into the continent’s huge potentials

TOKYO, Japan, April 24, 2023/APO Group/ — 

The president of the African Development Bank Group (www.AfDB.org), Dr. Akinwumi Adesina, has called for a significant increase in Japanese investment in Africa, saying the continent is the world’s best investment destination now and in the future.

Dr. Adesina is leading a Bank delegation on a five-day visit to Japan during which he will meet senior government officials, large Japanese companies, development partners and members of the African diplomatic corps in the country.

Delivering a lecture at the Japan-Africa Investment Ecosystem Co-Creation Forum in the capital, Tokyo, Adesina said Africa offers enormous investment opportunities and gave examples of Japanese companies that have been running profitable businesses on the continent for many years.

The forum was organized by Keizai Doyukai, a private, non-profit and nonpartisan organization that brings together nearly 1,400 top executives of some 1,000 corporations.

Adesina pointed out that Japan’s foreign direct investment in Africa declined from $10 billion in 2016 to just $4.7 billion in 2020 during Covid-19 but recovered to $6 billion in 2021. Africa accounts for only 0.003% of Japan’s $2 trillion global foreign direct investments.

In terms of trade, the volume of exports and imports between Africa and Japan remains lower than 2%.

Dr. Adesina said there was every reason to change the trend.

He mentioned the state-owned Japan Bank for International Cooperation (JBIC), which, together with TOTAL and other investors, including the African Development Bank, co-financed the $24 billion Liquified Natural Gas project in Mozambique—which will make it the third largest in the world. Japan will buy 30% of its production.

JBIC and Mizuho Bank, along with the African Development Bank and nine other financial institutions, invested $2.7 billion to build the Nacala corridor railway and port in Mozambique.

Dr. Adesina cited Japanese multinationals such as Toyota Tsusho, Mitsubishi Corporation, Hitachi and Komatsu, whose businesses make billions of dollars in profit every year.

“These companies will tell you investing in Africa pays!” said Adesina, “there is now a greater pulse and excitement for more Japanese investments in Africa.”

The Africa Development Bank chief said the successes of large Japanese companies operating in Africa are spurring a new generation of young Japanese to turn their eyes to venture capital and private equity funds to support small- and medium-sized enterprises.

He gave the example of a startup company, Kepple Africa Ventures, which has raised $43 million and is investing along with African private equity funds in 100 seed-stage enterprises in 11 African countries.

The Uncovered Fund, founded only in 2019, is another Japanese venture capital fund that has invested in 26 African startups.

Speaking during the Forum, the Vice Chairperson of the Africa Project Team at Keizai Doyukai, Ken Shibusawa, said a new company, &Capital Inc, was formed early this year to promote Japanese investments in Africa.

The African Development Bank chief spelled out areas in Africa with enormous investment opportunities for Japanese investors

The Chairperson of the Japan-AU Parliamentary Friendship Association, Ichiro Aisawa, described Africa as a continent of hope with population power. The parliamentarian announced that with the Covid-19 pandemic under control, the association will embark on a grand tour of Africa to raise Japan’s presence.

While the number of Japanese companies in Africa increased from 520 in 2010 to 900 in 2020, Adesina called for more venture capital and private equity funds to tap into the continent’s huge potentials.

He thanked the Japanese government for recognizing Africa’s strategic importance and showing a strong political will to invest in Africa.

Japan’s Prime Minister Fumio Kishida announced during the TICAD 8 Summit in Tunis last year $30 billion for Africa, including support for startups in Africa, green growth, and training of 300,000 professionals from Africa.

The African Development Bank chief spelled out areas in Africa with enormous investment opportunities for Japanese investors.

Africa has the world’s highest demographic asset. Its population will rise to 2.4 billion by 2050. The continent has the largest number of young people in the world, with over 75% of its population aged less than 35 years.

“With appropriate skills, they will form the labor force for global industries as many countries face a rapidly aging population,” said Adesina.

The recent establishment of the African Continental Free Trade Area makes Africa the largest free-trade zone in the world in terms of participating countries. Manufacturing opportunities alone would reach $1 trillion in 2025. And Africa’s consumer spending will reach $6.7 trillion by 2030.

In addition, Africa has the world’s largest renewable energy sources, including solar, wind, hydropower, and geothermal.

The continent also holds the key for the world as it transitions towards electric vehicles with its abundant deposits of minerals and metals such as platinum, lithium, cobalt, copper, and graphite.

“The manufacturing of lithium-ion batteries is most competitive in Africa. For example, setting up a lithium-ion battery precursor in the Democratic Republic of the Congo would be three times less expensive than in China or the US.”

Africa holds 65% of the remaining uncultivated arable land in the world. What Africa does with its agriculture will determine the future of food in the world. And the size of Africa’s food and agriculture market will rise to $1 trillion by 2030.

Other areas of enormous potential include the financial technology (fintech) sector; internet economy; healthcare; tourism; real estate, and automobile markets. For that reason, Adesina said the Japanese private sector and businesses should invest a lot more in the continent. “Your investment is safe in Africa.”

He referred to a survey conducted in 2020 by the African Private Equity and Venture Capital Association which indicated that about 45% of Limited Partners expected returns in Africa to outperform emerging and developed markets over the next 10 years. Also, 60% of the Limited Partners plan to increase allocations to Africa in the next three years.

Furthermore, in 2020, Moody Analytics looked at infrastructure debt default rates by region cumulatively over a ten-year period, comparing Africa with the rest of the world. It found that Africa had the second lowest cumulative default rate, after the Middle East, while default rates are much worse in Eastern Europe, Latin America, and Oceania.

Adesina reassured investors, “Africa is also not as risky to investments as many perceive,” and added, “Let’s ramp up Japanese private sector investments in Africa. Let’s do more together in Africa, faster and at scale.”

The African Development Bank’s delegation included Vice President for Power, Energy, Climate Change and Green Growth Dr. Kevin Kariuki, Vice President for Private Sector, Infrastructure and Industrialization Solomon Quaynor and Vice President for Agriculture, Social and Human Development Dr. Beth Dunford and the Executive Director of Argentina, Austria, Brazil, Japan and Saudi Arabia Takaaki Nomoto.

Click here (https://apo-opa.info/3oC8LFs) for Dr. Adesina’s speech.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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Creative Africa Nexus (CANEX) WKND 2026 opens in Lagos, bringing together leading African and diaspora creatives, investors and policymakers

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The four-day gathering will convene leading voices from film, music, fashion, sport, publishing, gastronomy and business to advance trade, investment and commercial opportunities across Africa’s creative economy

LAGOS, Nigeria, November 5, 2026/APO Group/ –Creative Africa Nexus (CANEX) WKND 2026 has opened today in Lagos, bringing together leading creatives, investors, policymakers, business leaders and cultural figures from across Africa and the diaspora for four days of conversations, deal-making, performances, exhibitions and industry-focused sessions.

 




  

Hosted by the Federal Government of Nigeria and organised by African Export-Import Bank (Afreximbank) through its Creative Africa Nexus (CANEX) programme, this year’s event runs from 5 to 8 November under the theme “One People, United in Culture, Creating for the World.”

The 2026 programme spans film and television, music, fashion, sport, literature and publishing, gastronomy and visual arts, with a strong focus on finance, intellectual property, technology, skills, investment and market access.

Across the four-day programme, CANEX WKND will provide platforms for deal-making, industry dialogue and sector-specific engagement, including the CANEX Deal Room, with the aim of turning creative talent and ideas into stronger businesses, partnerships and commercial opportunities.

That ambition reflects the evolution of Afreximbank’s commitment to Africa’s creative and cultural industries in 2020, subsequently doubling this to US$1 billion before quadrupling the original commitment financing available to US$2 billion.

The expansion reflects Afreximbank’s wider objective of helping African creators and creative businesses build scalable enterprises, strengthen ownership of intellectual property and retain more of the economic value generated by African culture and creativity.

The opening ceremony is expected to feature addresses by Ministers of Culture and Creative Industries across 11 African countries, Dr George Elombi, President and Chairman of the Board of Directors of Afreximbank, H.E. Dr Olajumoke Omoniyi Oduwole, Nigeria’s Minister of Industry, Trade and Investment, H.E. Wamkele Mene, Secretary-General of the African Continental Free Trade Area Secretariat, and H.E. Babajide Sanwo-Olu, Governor of Lagos State among other dignitaries.

The programme will bring together some of Africa and the diaspora’s most influential cultural and industry figures. Participants include Nobel Laureate, writer and playwright Professor Wole Soyinka; Emmy Award-winning actor Uzo Aduba; filmmaker and actor Funke Akindele; actors Richard Mofe-Damijo and Thuso Mbedu; former professional footballers Didier Drogba and Jay-Jay Okocha; alongside leading figures from Africa’s music, film, fashion, sport and creative business sectors.

The event will also include performances and appearances from musicians and entertainers such as Davido, Fally Ipupa, Flavour, Libianca and Charlotte Dipanda, reflecting CANEX WKND’s combination of industry engagement with live cultural programming.

Beyond the headline names, the programme places a strong emphasis on the business of Africa’s creative economy.

On 6 November, a high-level conversation titled “One Market, One Culture: Building the Creative Economy of Global Africa” will examine the steps required to convert the growing global influence of African culture into stronger creative businesses, exports and investment. Speakers include Professor Wole Soyinka; ministers responsible for culture and the arts from Côte d’Ivoire, South Africa and Rwanda; International Finance Corporation representatives; and from Afreximbank.

Financing will also be central to the programme. The Creative Economy Finance Summit, presented by Afreximbank in partnership with the Creative Economy Practice at Co-Creation Hub, will bring financial institutions and investors together to examine how creative-economy transactions can be structured, financed and de-risked.

CANEX Creations Inc. will lead discussions on unlocking investment in African intellectual property, while the CANEX Deal Room and Creative Pitch Sessions will connect creative entrepreneurs directly with financiers and investors considering opportunities across film and television, music, fashion, sport, publishing, gastronomy, visual arts and creative infrastructure. Technology and the changing economics of creative production will feature prominently. Sessions will examine artificial intelligence, authorship and intellectual property; the use of technology to reshape creative businesses; and how African creators can use digital tools to develop globally competitive products.

The CANEX CreaThon, delivered with pan-African technology company Gebeya, will bring creators, developers and innovators together around projects in music, video and gaming, supported by African-built digital tools, mentorship, computing resources and a US$50,000 prize pool. Film and television programming will explore both storytelling and the commercial infrastructure required to take African content to wider audiences. Sessions include “Stories Without Borders: Africa, Hollywood & the Global Diaspora”, featuring former Afreximbank President Professor Benedict Oramah, and “Made in Africa, Watched in Africa”, which will examine research into film distribution, audiences and financing across Egypt, Kenya, Nigeria, Rwanda, Senegal and South Africa.

Sport will form another major strand of CANEX WKND 2026. Discussions will examine athlete development, management, commercialisation and the links between sport and the broader creative economy. Didier Drogba and Jay-Jay Okocha are scheduled to participate in “When Giants Speak: The Business of the Game,” while the weekend will conclude with a Legends Football Match at Onikan Stadium on 8 November. Fashion programming will include masterclasses on building profitable African brands, textile value chains, market access and intellectual property, alongside the CANEX Fashion Show and Awards Night.

In gastronomy, the CANEX Junior Chefs Competition, Africa Jollof Wars Competition and a series of live demonstrations and conversations will explore how African food, ingredients and culinary traditions can become stronger commercial propositions across domestic, continental and global markets. Publishing and literature will feature through the CANEX Book Factory, Book Fair, writers’ workshops, manuscript pitching and the CANEX Prize for Publishing, while visual arts programming will combine exhibitions, collector engagement and practical sessions for artists navigating Africa’s growing art ecosystem.

On 7 November, CANEX WKND 2026 will host a major concert bringing together artists from across Africa and the diaspora, before the programme continues into its final day on 8 November with cultural excursions, gastronomy activities, the CANEX Music Factory Songwriting Camp and the Legends Football Game.

Distributed by APO Group on behalf of Afreximbank.

 




 

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Coca-Cola system invests USD 1.22 million to strengthen water security in Namibia

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Coca-Cola

The initiative represents a nearly USD 25 million investment focused on helping address critical water-related challenges across 20 African countries by 2030

WINDHOEK, Namibia, November 5, 2026/APO Group/ –As Namibia continues to face recurring droughts and growing water demand, the country’s water resources are under increasing pressure. Windhoek is situated in one of the most water-stressed regions in sub-Saharan Africa, where low and unpredictable rainfall, combined with high evaporation rates, continues to challenge water availability and long-term water security.[1]

 




  

To help address these shared water challenges, the Coca-Cola system is investing USD 1.22 million in the //Gam-i Swakop Basin Resilience Project, designed to help strengthen water security and support ecosystem restoration in the Swakop River Basin, a vital water source for the city of Windhoek and surrounding communities.

The //Gam-i Swakop Basin Resilience Project aims to support improved water availability and help strengthen the resilience of the Swakop River Basin through nature-based solutions that support sustainable water resource management across the catchment area.

Implemented in collaboration with the Global Water Challenge (GWC) and World Wildlife Fund (WWF) Namibia, the project includes the construction of two sand storage dams, restoration of 235 hectares of land through the clearing of invasive alien plants, and the planting of 750 trees in river buffer zones and environmentally degraded areas within Windhoek’s informal settlements. In addition, two boreholes will be drilled to support groundwater recharge in the Windhoek aquifer, and a water resilience action plan has been developed.

Through the Africa Water Stewardship Initiative, the system aims to help protect important watersheds and to improve access to water and sanitation in local communities

This work forms part of the Coca-Cola system’s Africa Water Stewardship Initiative, launched in 2024. The initiative represents a nearly USD 25 million investment focused on helping address critical water-related challenges across 20 African countries by 2030.

“Because water challenges are local, our approach to water security is focused on local action and collaboration,” said Alfred Olajide, Vice President of East and Central Africa Operations at Coca‑Cola. “The Coca‑Cola system remains focused on helping to promote water stewardship, increasing water use efficiency, and treating and returning safe water to communities.”

Henry Friedrich, General Manager of Coca-Cola Namibia Bottling Company (CCNBC) added: “As part of the Coca-Cola Beverages Africa group, we have a responsibility to assist those who face water scarcity and to help protect local water resources where we operate, especially in places with the biggest challenges. Through the Africa Water Stewardship Initiative, the system aims to help protect important watersheds and to improve access to water and sanitation in local communities.”

WWF Namibia Country Director, Dr Juliane Zeidler, said: “Water is one of Namibia’s most precious and increasingly vulnerable resources. This project is an opportunity to demonstrate how investing in healthy ecosystems can deliver tangible benefits for people, while also helping communities become more resilient to future climate pressures. We hope the lessons and partnerships developed through this initiative can inform similar approaches elsewhere in the country.”

“Collaboration is essential to addressing shared water challenges effectively. Coca-Cola and its authorised bottlers continue to work with governments, businesses, and civil society organisations to design and implement strategic interventions,” concluded Olajide.


Distributed by APO Group on behalf of Coca-Cola Beverages Africa.

 

 




 

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‘Power, Protect, Purchase’: Africa Made It unveils blueprint to capture USD 34B in GDP and accelerate African industrial sovereignty

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Africa

Africa Practice research shows that Africa exports up to 98% of its raw cotton overseas and captures only 2% of its total value while incurring a USD 35 billion annual trade deficit

African culture, design, and storytelling influence global fashion, music, and media like never before

LAGOS, Nigeria, November 5, 2026/APO Group/ –Africa Made It (https://AfricaMadeIt.co/), the continental movement driving Africa’s industrial sovereignty, today officially launched its campaign, “Power, Protect and Purchase,” at the CANEX weekend in Lagos, Nigeria. Aimed at unlocking USD 34 billion in annual GDP contribution through a structural transition from unprocessed raw cotton exports to end-to-end local garment processing, the initiative seeks to turn Africa’s vast natural wealth into sovereign, self-sustaining economic power.

 




  

Africa Made It is driven by a consortium of leading pan-African organisations, advocacy groups, and media organisations who are positioning Africa as a global investment hub. Its flagship campaign, spotlighting the fibre-to-fashion value chain, presents a clear roadmap for continental industrialisation: securing competitive energy power for local industrial mills, enacting policy measures to protect emerging domestic manufacturers from unfair foreign imports, and rallying African consumers to purchase locally manufactured apparel. Together, these three pillars ensure that value created from African resources remains on African soil.

 

Africa Practice research shows that Africa exports up to 98% of its raw cotton overseas and captures only 2% of its total value while incurring a USD 35 billion annual trade deficit.  Building the continent’s domestic processing capacity in spinning, weaving, and sewing locally produced cotton will sustain nearly two million permanent industrial jobs and inject approximately USD 33 billion directly into domestic household incomes every year, in addition to a recurring contribution of USD 34 billion to the continent’s GDP.

 

While these figures reveal the immense macro-economic potential of the value chain, the true heart of this transformation lies in its human impact. Industrial wages and local lint purchases leading to increased capital circulation in rural communities can drive community micro-economic vitality and contribute to rural poverty reduction. Additionally, formal employment opportunities can expand drastically for women, as they currently make up between 70-90% of garment factory workers on the continent.

 

Realising this vision and changing the lives of millions of people requires a deliberate combination of targeted investments, supportive trade policies, and consumer mobilisation. A USD 1.8 billion capital allocation toward critical structural enablers for garment transformation is the foundation for bridging Africa’s missing middle in the fibre-to-fashion value chain.

 

Marie Wilke, editor-in-chief of the Africa Made It magazine, said, “African culture, design, and storytelling influence global fashion, music, and media like never before. Yet, without domestic manufacturing infrastructure, Africa’s creative authority yields very little economic return. Linking raw cotton harvest directly to local processing ensures that the intellectual property, commercial margins, and industrial jobs remain on the continent. It is time to wear our power.”

 

To learn more about the potential of Africa’s fibre to fashion value chain, watch the campaign video (https://apo-opa.co/4BKAIvY) or read the Africa Made it (https://apo-opa.co/4zvA5VF)magazine (https://apo-opa.co/4zvA5VF). Access the campaign website and resources in English (https://apo-opa.co/4zvA5VF) and French (https://apo-opa.co/4zrK8e2).

Distributed by APO Group on behalf of Africa Made It.

 

 




 

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