Tokyo International Conference on African Development (TICAD9): African Development Bank to focus...

3d ago | Source: APO Group

The African Development Bank (www.AfDB.org) will participate in the 9th Tokyo International Conference on African Development (TICAD9) (https://apo-opa.co/4fLythd) taking place in Yokohama, Japan from 20-22 August.

This year’s conference takes place at a critical time as Africa seeks to close investment gaps and build resilience to global economic and climate shocks. The African Development Bank stands as a key driver of this transformation for the continent, leveraging its leadership to mobilise international support, particularly from Japan.

Co-hosted by United Nations, United Nations Development Programme (UNDP), The World Bank and African Union Commission (AUC), TICAD has been running for more than three decades since the first conference, TICAD I, in 1993. The forum has proved itself a solid catalyst to Africa’s development agenda, mainly through grant aid and technical assistance.

Among the delegates from the African Development Bank attending the conference are Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth; Solomon Quaynor, Vice President for Private Sector, Infrastructure, Industrialisation; Nnenna Nwabufo, Vice President for Regional Development, Integration and Business Delivery; Kevin Urama, Chief Economist and Vice President for Economic Governance & Knowledge Management, and several directors.

Over the years, the African Development Bank’s collaboration with Japan through TICAD, has evolved into a dynamic platform for development finance, knowledge exchange, and private sector engagement. Through programmes like the Enhanced Private Sector Assistance (EPSA) initiative, Japan’s support to the Bank has resulted in billions in co-financing for African businesses and infrastructure as well as important support to capital replenishment.

In addition, strategic partnerships with Japanese agencies such as Japan International Cooperation Agency (JICA), Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), continue to advance the Bank’s High 5 development goals. These partnerships have supported transformative projects in energy, transport, health, and climate resilience across the continent.

Enhanced Private Sector Assistance for Africa (EPSA)

The Enhanced Private Sector Assistance for Africa or EPSA (https://apo-opa.co/47AVK3i) Initiative, is a framework for resource mobilization and development partnership to support the implementation of the Bank’s Strategy for Private Sector Development.

Drawing on successful development experience in Asia and around the globe, EPSA, which was conceived in partnership with the Government of Japan in 2005, consists of four main pillars:

(1) Accelerated Co-financing Facility for Africa (ACFA),
(2) Non-Sovereign Loans (NSL),
(3) Fund for African Private Sector Assistance (FAPA), and
(4) Private sector investment finance.

An extension of the agreement - EPSA6 - is expected to be signed during TICAD9.

Recognizing the private sector’s importance in African development, the African Development Bank will host side events to encourage Japanese investment in key areas such as green hydrogen, Mission 300 (https://apo-opa.co/4lC1pcX) transportation, health, agriculture, and education.

The Africa Investment Forum (https://apo-opa.co/4mTcs2w), a partnership of the African Development Bank and eight other institutions will also be promoted as an innovative investment marketplace for attracting capital for projects on the continent.

During the Forum’s Market Days held in December 2024 in Morocco, a special event raised awareness about Africa as an investment destination for Japanese investors. The Japan Special Room titled: “Agricultural Innovation & Green Growth: Transforming Africa's Investment Landscape” was organized with approximately 100 participants, including representatives from Japanese companies, startups, and other public institutions.

Accessing Resilient Energy for Africa

On Tuesday, a day before the official opening of TICAD9, an event organized by JICA and other partners highlighted one of the continent’s major challenges - the energy gap in Africa.

Over 200 representatives from government, ministers and development partners attended the “Harnessing Innovation, Co-creation, and Knowledge for Accessible and Resilient Energy for Africa," event, which was held in person and online.

Without energy, the bedrock of infrastructure for crucial development cannot be realized. Yet persistent underinvestment in energy infrastructure is one of the continent’s major hurdles, African Development Bank Director of Energy Financial Solutions, Policy and Regulation Department Wale Shonibare, who moderated the session said.

Setting the stage for the conversation, he said Africa’s 600 million people without access to reliable energy represent 83% of people with energy access lack globally affecting 2 out of 3 Africans. A further 900 million have no access to clean cooking, while Nigeria DRC, Ethiopia, Uganda and Tanzania together have half the population of no access, Shonibare said.

Stressing the significance of TICAD as a platform to provide innovation and solutions through partnerships and investment, he noted: “We see enormous potential in Africa’s regional power pools…Today’s session is both timely and catalytic.”

The African Development Bank will organize several sessions covering a range of key development topics during the TICAD. Among these, two flagship events will be co-hosted in partnership with the Ministry of Finance. Further details on these events can be found below.