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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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ACG CEO Paulo J. Cruz to Speak at the Angola Access & Investment Conference 2026 in Luanda on How Sport and Entertainment Districts Can Drive Inclusive Economic Growth Across Africa

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Cruz joins heads of state, ministers, ambassadors, and CEOs from over 60 international markets at one of Angola’s flagship investment conferences, connecting sport infrastructure to job creation, accessibility, and sustainable development

LUANDA, Angola, October 14, 2026/APO Group/ –African Collaborations Group (ACG) (www.ACGafrica.com), the leading strategic project origination and collaboration platform focused on the industrialisation of sport in Africa through the origination of bankable sport and entertainment district ecosystems, today announced that its CEO, Paulo J. Cruz, will speak at the Angola Access & Investment Conference 2026 (AAIC) (www.aaic.ao) in Luanda, Angola, from 14 to 17 October 2026.

 




 
 

The AAIC is organised by Expo Connect Angola in partnership with Skyliam Properties, the Cópia Group, and Angolan Business Beyond Borders, with the support of the Angola-Mozambique Chamber of Commerce and Industry (CCIAM) and the Angolan Ministry of Tourism and the Ministry of Telecommunications, Information Technologies, and Social Communication. The conference brings together heads of state, ministers, ambassadors, CEOs, investors, development banks, and business leaders from over 60 international markets.

Mr Cruz will address how ACG’s origination of integrated sport and entertainment districts contributes directly to inclusive economic growth. His intervention will focus on how sport infrastructure, when designed as a financially self-sustaining urban ecosystem, becomes a catalyst for large-scale job creation, skills development, accessible infrastructure, and long-term economic diversification.

Sport infrastructure has the power to be one of the most inclusive economic assets a country can build

The AAIC’s focus on accessibility and inclusion aligns directly with ACG’s approach to sport and entertainment district development. A Victory District™ is designed from inception to serve the widest possible community: creating permanent employment across dozens of professions, providing professional sport training facilities for young athletes, and generating economic activity that benefits surrounding neighbourhoods year-round.

“Sport infrastructure has the power to be one of the most inclusive economic assets a country can build,” said Paulo J. Cruz, CEO of ACG. “A Victory District™ does not just create stadiums. It creates thousands of permanent jobs, from hospitality to broadcast production, from sport coaching to facility management. It creates training pathways for young athletes. And it creates an urban ecosystem that generates economic activity 365 days a year. That is inclusive growth in practice, not in theory. I am honoured to share that vision at the AAIC alongside some of Africa’s most influential investors and decision-makers.”

The AAIC programme includes official MoU signing ceremonies, B2B investment rounds, VIP executive networking with senior government and business leaders across 10 dedicated Business Lounges, and the inauguration of Angola’s first assistive technology factory. The conference covers priority sectors including energy, mining, accessible tourism, agriculture, logistics, health, and infrastructure.

ACG’s Victory District™ framework is designed to originate integrated, mixed-use sport and entertainment districts that move beyond single-venue development models. Each district combines stadiums, indoor arenas, training academies, hotels, conference centres, retail, entertainment, residential, and commercial space within a single masterplanned development, financed by private and institutional capital without reliance on public subsidy.

Mr Cruz brings more than 28 years of experience across Africa, the Middle East, and Europe in originating, structuring, and delivering large-scale infrastructure, urbanisation, and real estate development initiatives. Prior to ACG, he served as Senior Vice President at DAMAC Group, the largest private real estate developer in the Middle East, and as Group CEO of LandAfrique, a pan-African development platform focused on industrial parks, infrastructure, housing, and power projects across Sub-Saharan Africa.

Distributed by APO Group on behalf of African Collaborations Group (ACG).

 

 




 

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Venezuelan Oil and Gas Opportunities Take Center Stage at African Energy Week (AEW) 2026

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Venezuela

The country is promoting new hydrocarbons contracts, upstream and refining opportunities, and technical partnerships with Africa to attract investment and strengthen local energy sector capabilities

CAPE TOWN, South Africa, October 14, 2026/APO Group/ –Venezuela is seeking to attract international investment into its oil and gas sector while building stronger energy partnerships with African countries. Revised hydrocarbon legislation offers new entry routes for private operators, while cooperation on technical training could help African markets draw on Venezuela’s industry expertise. These opportunities featured at the Venezuela Global Investment Forum during African Energy Week (AEW) 2026 in Cape Town.

 




 
 

Ricardo Gomez, Venezuela’s Vice Minister of Commercial Policy, outlined the country’s investment proposition, highlighting 303 billion barrels of proven oil reserves and 193 trillion cubic feet of natural gas.

“Venezuela combines a large hydrocarbon resource base with refining infrastructure and a market that needs reliable energy,” he said. “The opportunities extend from upstream projects to downstream and refining.”

The country’s amended Organic Hydrocarbons Law introduces new ways for international companies to enter the market. Hydrocarbon production participation contracts allow private operators to manage designated assets, oversee operations and market production under negotiated terms. Agreements can extend for 25 years, offering a longer investment horizon for field development and rehabilitation.

Restructured joint venture companies provide another route, retaining majority state ownership while allowing international partners to take on operational responsibilities through approved agreements. Direct ministerial contracts and strategic alliances offer additional opportunities in field redevelopment, oilfield services and infrastructure.

Venezuela is seeing a lot of interest as a result of aggressive fiscal and regulatory changes that are making the country more attractive

Potential investments span heavy-oil production in the Orinoco Belt, mature onshore fields, offshore gas, pipeline rehabilitation, export terminals and refinery upgrades. Venezuela’s target of signing 105 definitive oil contracts by year-end reflects its wider effort to attract operators and accelerate project development.

Scott Gilbert, CEO and Executive Director of Corcel Plc and Non-Executive Chairman of Apertura Energy, highlighted investor interest in the changing regulatory environment. “Venezuela is seeing a lot of interest as a result of aggressive fiscal and regulatory changes that are making the country more attractive,” he said.

Alongside these commercial opportunities, Venezuela is promoting its technical expertise through the Venezuelan University of Hydrocarbons (UVH). Celia Bejarano, the university’s President, explained how the institution trains engineers and geologists in geophysics, reservoir engineering, well management, natural gas and petrochemicals.

“The Venezuelan University of Hydrocarbons was created to deliver a specialized institution where the country can train its own recruits to develop its own premier resources,” Bejarano said.

Through its Africa-Venezuela Energy Partnership with the African Energy Chamber (AEC), UVH is advancing technical training, knowledge exchange and workforce development. The initiative could help African energy projects apply Venezuela’s experience in heavy-oil production and offshore engineering while strengthening local capabilities. Rene Awambeng, founder and managing partner of Premier Invest, highlighted this opportunity for African developers.

“When we are developing our assets here, we always import talent,” he said. “With the Venezuelan University of Hydrocarbons, we can actually leverage Venezuela’s immense experience to support local content development here in Africa.”

Also speaking during the discussion, NJ Ayuk, Executive Chairman of the AEC, emphasized the strategic value of closer ties between the regions. “Our energy industry has an amazing ally in Venezuela,” he said, describing the country as “open for business and ready to partner with Africa.”

Distributed by APO Group on behalf of African Energy Chamber.

 




 

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Sonangol Cites Commitment to Privatization as Company Charts Next Growth Phase

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Katambi

Katambi-2 appraisal, infill drilling and downstream construction frame the national oil company’s priorities as it marks its 50th anniversary

CAPE TOWN, South Africa, October 14, 2026/APO Group/ –Angolan National Oil Company Sonangol is advancing plans for an initial public offering (IPO) while expanding its upstream portfolio and investing in Angola’s domestic refining capacity, as the national oil company charts its next phase of growth following its 50th anniversary in 2026. Speaking at the opening ceremony of African Energy Week (AEW) 2026, Executive Board Member Osvaldo Inácio reaffirmed the company’s commitment to privatization, alongside efforts to increase production, progress new developments and translate Angola’s oil and gas resources into broader economic growth.

 




 
 

 

“We want to make sure that we do it in a way that, when you buy your shares, you are happy with the performance of those shares. We are doing the internal work required to make sure that when we get to that point, it’s a successful story,” he said.

We want to make sure that we do it in a way that, when you buy your shares, you are happy with the performance of those shares

Sonangol’s 50th anniversary comes as Angola’s NOC develops opportunities across exploration, producing assets and domestic processing. Its next investment phase requires capital and technical partners to turn appraisal results into developments while delivering refinery infrastructure and expanding the value retained from Angola’s oil and gas production.

“We are thinking about what the next 50 years will be like, focusing on producing to transform. We are not only looking at managing resources but how we translate those resources into overall development in the country,” he said.

Sonangol’s September account of its Katambi-2 work in Block 24 described a completed formation test in a non-associated gas reservoir, providing further evidence for assessment of the field’s development potential. In its producing portfolio, the company and its partners also reported approximately 100 meters of net oil pay at PAC 416 in Block 3/05, as part of a program intended to increase operated production. The results give Sonangol a technical basis for future investment, while appraisal, development design and commercial arrangements remain necessary steps.

“If you look at our portfolio, we have both operated and non-operated assets. The focus is on making sure we are doing everything we can to make sure those assets are still producing at the highest rate possible. New developments such as Block 3/05 are advancing. We are also part of Kaminho with TotalEnergies,” Inácio shared.

Downstream, Angola’s government reported in September that the Lobito refinery was approximately 26% physically complete, with around $1.6 billion invested and completion envisaged for 2029. A potential petrochemical complex was under study. Alongside Cabinda’s initial 30,000-bpd refining phase, Lobito gives Sonangol’s diversification program a concrete industrial focus, with financing, construction progress and product marketing central to the next stage.

Distributed by APO Group on behalf of African Energy Chamber.

 




 

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