Saturday, 20 January, 2018

Kenya, Japan agree to promote and protect investments

Melinda Barton | 01 September, 2016, 13:28

Earlier, Japanese Prime Minister Mr Shinzo Abe promised leaders of different African countries that his country would provide 10 billion United States dollars in a period of three years for infrastructural development in the continent with the African Development Bank (AfDB).

Addressing the conference, he urged the leaders present to "take measures to reduce the cost of doing business in Africa which will include restructuring the public sector and improving their working methods to ensure greater efficiency".

"The President will also hold a bilateral meeting with the Japanese Prime Minister, Shinzo Abe", the statement read in part.

He says it will also help open more investment and partnership opportunities for companies in Africa and encourage other global investors to do business in the continent.

However, Japan has promised to channel most of its investments through organizations and civil society groups rather than government agencies.

"I urge all our partners, and in particular Japan, to contribute to the African Fund Against Terrorism that was set up and established by the Kigali summit, Deby said".

A Chinese Foreign Ministry spokesperson said Monday that Japan wanted to sell its own intentions to African countries and had attempted to sow discord between China and Africa. Kenyan President Uhuru Kenyatta asked rich nations to be more open to trade with developing countries.

Japan-Africa development partnership could not have come at a better time, according to Dahabshiil Chief Executive Officer Abdirashid Duale who participated in the Conference.

While speaking in front of the heads of 34 African nations, Abe said about $10 billion of the investment would go toward electricity-generation projects and upgrading urban transport systems and ports.

TICAD meeting, which will be held from 27 to 28 August in Nairobi, would be attended by Japan's Prime Minister Shinz? Abe.