AfDB Courts Japanese Capital at TICAD9 to Drive Africa’s Growth

 

The African Development Bank (AfDB) is leveraging the 9th Tokyo International Conference on African Development (TICAD9), underway in Yokohama, Japan, to secure new investment, strengthen partnerships, and mobilize financing for Africa’s energy, infrastructure, and private sector transformation.

The three-day summit, co-hosted by Japan, the United Nations, World Bank, UNDP, and African Union Commission, comes as Africa grapples with rising debt, climate shocks, and a widening financing gap. For the AfDB, Japan represents not only a key investor but also a long-standing partner with a proven track record in financing industrial growth and innovation.

AfDB’s Big Push in Tokyo

Through its Enhanced Private Sector Assistance (EPSA) initiative, launched with Japan in 2005, the AfDB has already unlocked billions in co-financing for African businesses and infrastructure. At TICAD9, the Bank is set to sign EPSA6, extending the framework and opening new financing streams for African SMEs, green projects, and industrial ventures.

Japan’s development agencies — JICA, JBIC, and NEXI  are also deepening their collaboration with the AfDB, supporting transformative projects in energy, transport, health, and climate resilience.

Ghana in Focus

For Ghana, TICAD9 presents an opportunity to attract fresh Japanese investment into its economy. President John Dramani Mahama is attending the conference, where he is expected to engage investors and development partners to woo foreign direct investment (FDI) into priority sectors including energy, agriculture, and infrastructure.

Ghana’s priorities,  expanding renewable energy, boosting agricultural processing, and scaling industrialization align closely with AfDB’s “High 5” development agenda. Officials say Japanese expertise in renewable energy, technology, and logistics could be especially critical in supporting Ghana’s medium-term development goals.

Tackling Energy Deficits

Energy remains a major focus at TICAD9. At a pre-conference event, AfDB officials underscored that 600 million Africans still lack reliable electricity. AfDB Vice President for Power, Energy, Climate and Green Growth, Kevin Kariuki, emphasized that closing Africa’s energy gap is essential to building infrastructure, powering industries, and raising living standards.

Showcasing Africa as an Investment Destination

The AfDB is also using TICAD9 to promote its Africa Investment Forum, a marketplace designed to connect global investors with bankable African projects. Japanese interest has already been growing, a December 2024 Japan-focused session on agricultural innovation and green growth drew over 100 companies and institutions. TICAD9 aims to convert that momentum into concrete deals across green hydrogen, agriculture, transport, health, and education.

Africa’s Strategic Moment

For the AfDB and participating African leaders, TICAD9 is not simply about aid pledges but about positioning Africa as an investment-ready destination. With a young population, expanding urban markets, and rising consumer demand, the continent is highlighting its potential to drive the next wave of global growth.

For Ghana, and for Africa at large, the key test will be how much capital and technology can be unlocked in Tokyo to turn these ambitions into reality.