Japan introduces "new TICAD"

29 Aug 2019 17:40pm
By Isabel Bento
YOKOHAMA, 29 AUG (NAMPA) – Japan has introduced a “new TICAD” which will ensure greater heights for entrepreneurship, enterprise, investment and innovation for Africa.
Shortened as the EEs and IIs, the four aspects are said to be at the core of the new Tokyo International Conference on African Development (TICAD), through which the Japanese Government will ensure success for Africa’s development.
“The government will put forth every possible effort so that the power of Japanese private investment of US.dollars 20 billion in three years should, in the years to come, be surpassed from one day to the next,” Japan’s Prime Minister, Shinzo Abe, said during the official opening of the seventh TICAD in Yokohama on Wednesday.
TICAD is an international conference led by the Japanese government and co-sponsored by the United Nations, the United Nations Development Programme (UNDP), the African Union Commission (AUC) and the World Bank.
It was launched in 1993 by the government of Japan to promote Africa’s development, peace and security, through the strengthening of relations in multilateral cooperation and partnership, particularly with the country and has been held roughly every five years since.
Abe said cooperation with local financial institutions will create a new trade insurance that could cover 100 per cent of Africa's transactions.
“We will do whatever it takes to assist the advancement of Japanese companies into Africa and TICAD will provide limitless support to the EEs and IIs.”
Additionally, the prime minister expressed satisfaction with the first ever 6 165 kilometre undersea cable linking Africa (via Angola) to South America, describing it as a shining achievement in the history of telecommunications.
The cable was laid by a Japanese company NEC Corporation.
“I will say it again; the Japanese government, through the new TICAD, will do its utmost to support Japanese enterprises that are betting on the future of Africa,” Abe stated.
More than 25 African leaders and representatives, including Namibia’s President Hage Geingob, are attending the conference.
Over 1 000 participants from across the world are also taking part. The conference ends on Friday.