Makaya Mrisho Kikwete, chairperson of the African Union (AU), on Wednesday urged more and balanced Japanese investment in Africa.
"According to the World Bank, Japanese FDI (Foreign Direct Investment) in Sub-Saharan Africa between 2002 and 2004 amounted to 415 million (U.S.) dollars only," said Kikwete, president of Tanzania, in a keynote speech at the opening session of the Fourth Tokyo International Conference on African Development (TICAD).
The figure accounts for some 0.4 percent of Japan's total global FDI flow of 108.5 billion dollars, said Kikwete, adding that 85 percent of the investment, however, went to just two countries -- South Africa and Egypt.
He expressed the hope that the Japanese government could do more to encourage its private sector to venture into Africa.
Noting that climate change is one of the major issues to be discussed at TICAD IV, the AU chief said that Africa bears far more than its fair share of the direct and indirect consequences while the continent contributes least to global warming.
The three-day TICAD conference opened Wednesday in Japan's southeastern port city of Yokohama.
Representatives from 52 African countries are present at the quinquennial event, under the theme "Toward a Vibrant Africa: A continent of Hope and Opportunity."
TICAD is a policy forum for African Development which Japan initiated in 1993 with other co-organizers which consist of the United Nations Office of the Special Advisor on African, the United Nations Development Program and the World Bank.
A central feature of TICAD is the cooperation between Asia and Africa.
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article