By Black Star News
Photos: YouTube Screenshots
The government of Japan is proposing a new economic trade zone connecting the Indian Ocean to Africa—while also making a $5.5 billion loan announcement. The news comes as the United States and the United Kingdom have cut funding to the countries of Africa.
The new initiative was announced Wednesday, in Japan, during the three-day Tokyo International Conference on African Development (TICAD), by Japan’s Prime Minister Shigeru Ishiba. The summit comes at a time when African nations are examining how to deal with the tariffs that have been imposed by Donald Trump on the countries of the continent. The summit took place at Yokohama, near Tokyo. TICAD was launched, by Japan, in 1993.
The prime minister held talks with several African presidents, including the presidents of: South Africa, Ghana, Kenya, and Angola.
Prime Minister Ishiba said this regarding the proposed new economic zone, “Japan believes in Africa’s future. Japan backs the concept of African Continental Free Trade Area.” He also added that “We will work to expand investment for the future of Africa, boost industrial cooperation, and cultivate human resources.”
Under the plan, Japan’s says their goal is to bring investment from Japanese companies into Africa.
The acting chair of TICAD, Fumio Kishida, Japan’s former prime minister called on Japan’s private sector to invest in Africa. “We will promote the expansion of Japanese companies [into Africa] and the development of local industries [on the continent],” Kishida said.
United Nations Security-General António Guterres, who was present at the event said, “Africa must have a stronger voice in shaping the decisions that affect its future.That includes long-overdue reform of the Security Council, where incredibly, Africa has no permanent member, and other regions remain underrepresented.”
Guterres also said: “With the world’s youngest population, abundant natural resources, and a vibrant entrepreneurial spirit, Africa is poised for progress. Africa’s path for prosperity must focus on adding value to its raw materials, creating decent jobs, and building resilience, taking profit of the African Continental Free Trade Area. Africa is also home to the critical minerals required to power renewable technologies. But the countries hosting them must be the ones to benefit first and most, while adding value to local and global value chains.”
Guterres also praised the efforts of TICAD saying, “For more than three decades, TICAD has embodied the spirit of multilateralism — grounded in mutual respect, shared responsibility, and a deep belief in Africa’s potential.”
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