Olufemi Adeyemi
JICA indicated its desire to explore potential avenues for collaboration, with a specific focus on Nigeria and Ethiopia.
During their engagements, the African Development Bank delegation held discussions with senior executives from both organizations to assess the progress of their collaborative Enhanced Private Sector Assistance (EPSA) initiative. Additionally, the meeting served as an opportunity to initiate preparations for the 9th Tokyo International Conference on African Development (TICAD9) Summit, scheduled to take place in Yokohama in August 2025.
Japan International Cooperation Agency (JICA) is a governmental agency responsible for managing Japan's overseas development assistance (ODA). JICA's primary objective is to provide bilateral aid to developing nations through various means, including grants, loans, and technical assistance.
The delegation from the Bank Group, headed by Kevin Kariuki, Vice President for Power, Energy, Climate & Green Growth, included Solomon Quaynor, Vice President for Private Sector, Infrastructure & Industrialisation, and Kevin Urama, Chief Economist and Vice President for Economic Governance & Knowledge Management. The meeting was attended by JICA executives, including Senior Vice Presidents Naoki Ando, Sachiko Imoto, Masao Yahara, Kenichi Kawamura, and Shohei Hara; Director General of the Africa Department Naoki Yanase; Director General for Middle East and Europe Kei Toyama, Director General of Credit Risk Analysis and Environmental Review Department Suguru Miyazaki; Deputy Director General of the Africa Department Kumiko Uchida, and Masahiro Juraku, Director for Private Sector Investment Finance Division 2.
The primary objective of the discussions was to assess the advancement made towards achieving the EPSA 5 objective of mobilizing $5 billion between 2023 and 2025. Priority investments were identified in the sectors of electricity, healthcare, connectivity, and agriculture. Additionally, the progress of co-financed projects in Nigeria, Mauritania, and Morocco was reviewed, emphasizing the significance of innovative financing mechanisms in addressing environmental challenges.
Mr. Kariuki drew attention to the Bank’s Climate Action Window as a possible co-financing opportunity for JICA.
In reference to Africa's debt management concerns, JICA Senior Vice President Naoki Ando stressed the significance of expanding public finance management capacity building and providing more effective concessional financing for African governments. Urama drew attention to the Bank's initiatives in developing debt management capabilities in nations such as Mozambique, Zambia, and Zimbabwe, notably through its Public Financial Management Academy program.
The African Development Bank highlighted its key areas of focus in private sector development, namely industrialization, enterprise development for small and medium-sized enterprises (SMEs), and youth-focused entrepreneurship. Notably, the bank introduced its Youth Entrepreneurship Investment Banks initiative, specifically designed to provide financial support to youth-led businesses across Africa. JICA expressed keen interest in exploring potential collaboration opportunities, particularly in Nigeria and Ethiopia.
The development of transport corridors was another crucial topic, with discussions centered on projects such as the Lobito Corridor connecting Angola, the Democratic Republic of the Congo, and Zambia, as well as the Abidjan-Lagos Highway Corridor, for which the Bank Group is supporting climate risk assessments to incorporate adaptation measures like sea walls. In response to the Bank Group's presentation of its "smart corridor" concept, which utilizes data and technology for efficient operations and urban planning, JICA representatives emphasized the strong correlation between corridor development and urban development. JICA proposed further exploration of collaboration in the areas of food security and industrial development to enhance the economic impact of transport corridor development.
In the domain of supply chain resilience and diversification, Bank executives suggested potential synergies between the Bank Group's country and regional integration strategy documents, and the Co-Creation for Common Agenda Initiative of Japan's Ministry of Foreign Affairs.
In anticipation of TICAD9, JICA has formed 15 working groups to investigate strategic issues for consideration at the Summit, demonstrating a proactive approach that emphasizes the significance of the event for both partners and Africa's economic growth.
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