Japan bets big on African innovation ahead of TICAD9 {Business Africa}
Turkish Airlines presents Business Africa. Welcome to Business Africa. I’m your host Afake Loy. The top stories this week. Japan reaffirms commitment to Africa through TCAD ahead of the 19th summit doubling down on collaborative investment and innovation in the face of rising global protectionism and youth unemployment. Nigeria’s $21 billion diaspora remittances surpass foreign aid as millions of families increasingly depend on overseas support to weather inflation and joblessness. Share caterpillars fuel a street food boom in Bobo Dolaso where women turn this local delicacy into a growing livelihood and culinary trend in Bukinabasu. As Afric’s youth unemployment and growing protectionist trends, Japan’s commitment through the TCAT partnership remains crucial. With ticket nine on the horizon, Tokyo is killing up its investment and innovation pledges to strengthen climate resilience infrastructure and human capital across the continent. As Africa grapples with internal realities like a bulging youth population with minimal job opportunities and external threats like the rise of protectionism across the globe, international partnerships remain more critical than ever. One such cornerstone of cooperation is TCAD, the Tokyo International Conference on African Development. Launched in 1993 and co-hosted by Japan alongside the United Nations, World Bank and African Union Commission, Ticket has become a platform for Africa’s development priorities. Driven not by aid, but by collaboration, investment, and shared innovation. At Ticket 8, Japan pledged an ambitious $30 billion in public and private investment along with a $4 billion green growth initiative. That commitment has since translated into real world action from agriculture financing in Nigeria and infrastructure support in Egypt to digital training in human capital investment across the continent. Now, as the world looks ahead to ticket nine, the stakes are even higher. While the United States and its President Donald Trump are championing a new global era of protectionism, Japan is doubling down on its core principle to co-create innovative solutions with Africa. Joining us now is Mr. Shuer Ueno, Deputy Director General of the Africa Department at Japan International Cooperation Agency, JA. Thank you for joining us on the show. Now, what progress has been made from Tika 8’s key pledges particularly in climate resilience, infrastructure and human capital development. For example, at the time of TikT, we launched FA 6 enhanced private uh you know the financing for private sector. I think it was five billion. out of five billion we have realized 2 uh 9 billion co- financing with FDB and JA and that includes uh some financing to FDB for uh non-s sovereign sector uh some financing for Egypt uh uh uh developing pro uh development program loan uh some uh finance to Nigeria for the agriculture sector and not only the finance but also for the uh training too. We pledged 300,000 no actually more than that. Yeah. 300,000 government officials and I think we achieved 290 government officials trained uh so far. So we have achieved uh quite lots of uh results after ticket 8. Looking ahead to ticket 9, what are Japan’s top priorities for Africa? How would it support youth employment, digital innovation and African free trade area integration? All of those uh within this scene the co-create innovative solution. For example, JA signed a uh meets of cooperation with AFC secretariat in Ghana in 2022 to start yes our cooperation to strengthening to realize this idea of combined single market uh which is a huge potential not only for Africa but for Japan and for the world. DX we started to collaborate with University of Kenya for so-called AI school to train African AI people and youth is a huge important theme of Tik Tok 9 as you know Africa is a continent of the youth and Japan it’s actually aging and the number of youth is declining but that’s why we would like to encourage Japanese youth to work with African youth the future potential of the world. So tikat would be very much important occasion for youth of both continent country to work together and we cocreate innovative solutions in light with a rising global protectionism. How is Japan adapting its economic engagements with African nations? Many African leaders and Japanese leaders and international leaders gather at the ticket and discuss what we could do together. And we discuss of course on our shared values and obviously that is a kind of symbolic to show that our international cooperation is very much strong. For example, one of the event that Jika is going to organize discussion not only Japan and Africa but we invite Indonesia, Brazil, Mexico, Turkey all of those countries are doing some kind of cooperation in Africa and we discuss what would be the best approach that we could all bring to Africa and in this discussion there will be Jika’s pier which is AUDA African Union Development Agency that one is also a symbol of international cooperation because that is the development agency of African Union that combines the 514 countries potential and bring a results to the African continent. So I hope that 9 could be a showcase to the world that how much international cooperation is needed and can bring the value to the world. Mr. O, thank you so much for your time and insights. Thank you. As Africa battles inflation, high unemployment, and a weakening currency, millions of households are increasingly reliant on funds sent by relatives abroad. According to new figures from the central bank, diaspora remittancies have now overtaken foreign aid and direct investment, raising important questions about economic resilience and long-term sustainability. Kibabs from Abuja reports. Godwin Abutu is a 32-year-old barber living on the outskirts of Abuja, Nigeria’s capital. He says his older brother’s financial support from abroad helps keep the family going. We usually get support from my brother every month and part of it is being used for my mom for medication and all of that and part of it also is being used to pay my younger brother school fees and part of it is used to support my business as well. With inflation at record high jobs harder to come by these remittances are plugging everyday gaps from groceries to hospital bills. In 2024 alone, Nigerians abroad sent nearly $21 billion, up 8.9% from the year before. Remittances now account for a significant share of Nigeria’s GDP, fueling household spending, boosting local demand and helping stabilize the economy. So, it has actually helped to stabilize prices. It has helped in stabilizing our naira. It has even helped in improving uh consumption in the economy because bulk of these funds are coming in to help um household. Bes was warned that the square dollars alone won’t fix Nigeria’s economic wos. They say building strong local industries is key to long-term growth. The Nigerian government says it’s working to boost employment through programs supporting small businesses, youth entrepreneurship, and local manufacturing. But many say the impact is slow to reach everyday people. In Bobo Daso, she caterpillars locally known as shitumu are more than just a delicacy. They’ve become a vital source of income and a growing street food trend offering economic relief for many women in Bukinoasu. Let’s take a closer look. In Bobo Dulaso, Chitumu, the sha caterpillar is a key income source for many women. Harvested from July to September in nearby villages, it can bring in $44 to $88 daily when demand is high. Though peak season starts in August, women are already earning up to $9 a day. Prices have risen to $3.50 per box, slowing down sales for now. Chu mush caterpillars with mayonnaise and bread is now a popular street food in Bobo Dul Lasso where you dosey Sanu and her sister run a thriving stall near the Grand Mosque. We sell around 300 to 400 baguettes a day so you can say it’s profitable. Since 2005, a festival dedicated to the shake caterpillar has been held to promote the dish and highlight the culinary skills of the women who prepare it. By organizing an event like the She Caterpillar Festival, we attract many visitors which helps women sell their products more easily. This in turn provides them with income to support their families and pay for their children’s schooling. Although the Chitumu industry has been promoted for nearly 20 years, it still struggles to gain the same recognition as other sectors. The festival’s promoter now hopes to work with local authorities to better structure the industry. And that wraps up this edition of Business Africa. Thank you for watching. For more business stories and the latest update, stay tuned to African News or visit us online at africannews.com. Until next time, goodbye. Business Africa was presented by Turkish Airlines.
Japan bets big on African innovation ahead of TICAD9 {Business Africa}
Japan Reaffirms Commitment to Africa through TICAD, ahead of its ninth summit—doubling down on collaborative investment and innovation in the face of rising global protectionism and youth unemployment while Nigeria’s $21 Billion Diaspora Remittances surpass foreign aid.
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