Since June 2018, JICA and UNDP have co-hosted AFRI CONVERSE, an interactive event on the theme of African development with TICAD (Tokyo International Conference on African Development). For the 20th time in total, in collaboration with Keio Business School’s Executive MBA, we are hosting an event featuring entrepreneurs, investors, corporate representatives actively engaged in Africa, and scholars, who will share their insights and experiences.

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TICAD (Tokyo International Conference on African Development), which began in 1993 has successfully broken the stagnation in development aid to Africa following the end of the Cold War and revived global interest in the continent. While development aid through ODA (Official Development Assistance) was the initial focus, TICAD has recently shifted toward private investment driven by Africa’s economic growth.

Along with the high GDP growth rate, a growing market driven by the population growth, abundant natural resources, and young labor force, Africa’s potential has attracted significant global attention. By 2050, it is projected to account for about 25% of the global population, with business opportunities expected to expand alongside its growing market. Indeed, Africa continues to attract significant global investment, with UN statistics showing that investment in the continent has increased more than sixfold over 20 years. In addition, the African Union (AU) joined the G20 as a permanent member in 2023, underscoring the continent’s increasing prominence on the global stage.

While Japan’s foreign direct investment (FDI) in Africa is on the rise, it still stood at $7.3 billion as of 2023, which is by far smaller compared to the Netherlands ($109 billion) and France ($58 billion). This illustrates that Japanese companies still lag behind in tapping into the African market. Key reasons for this lag include political risks, cultural and business practice differences, limited information, and Japan’s risk-averse corporate culture. Professor Okada from the Keio University points out, “A small step forward and a willingness to take risks are essential”.

On the other hand, investment in African startups surpassed $5 billion in 2021, nearing Japan’s startup investment of about $5.7 billion the same year. By 2022, Africa saw the rise of seven unicorn companies, reflecting an increase of opportunities for co-creation and open innovation. There is also an upward trend in the number of social enterprises addressing gaps in public services and infrastructure through AI and digital technologies in fields such as fintech, agritech, logistics-tech, health-tech, and edtech are contributing to both business growth and SDG achievement. 

In Japan, mid-career professionals are increasingly enrolling in executive business schools to pursue careers that would address social challenges. The Keio University’s Executive MBA program, for instance, organize biannual visits to the African continent, where participants validate their business plans while learning operational know-how and building relationships with local employees. Through this program, Tomita Technology Corporation successfully launched a bell pepper cultivation project in Kenya.

Others are pursuing social impact initiatives as a second career, with an increasing number of individuals in their early 20s embarking on a journey to address global challenges. Mr. Yuto Doya, for example, an alumnus of the Keio University founded the NPO CLOUDY (formerly NPO Doooooooo) three years after he joined Goldman Sachs. He subsequently launched the apparel brand CLOUDY to facilitate timely and effective support activities by integrating both profit and non-profit operating within the company.

At this event, we are inviting individuals actively engaged in Africa from a business perspective, such as entrepreneurs, investors, corporate representatives, and scholars. The present situation and future prospects in Africa will be discussed from various perspectives, leveraging their unique insights and experiences. By sharing their successful case studies and strategies for overcoming challenges, this will be an excellent opportunity to gain tangible insights into the potential of African markets.

Title: AFRI CONVERSE 2024 #4 in Keio University: The First Step into Africa: Igniting Opportunities for a Prosperous Future

Date: Thursday 19 December 2024, 6:00 pm - 7:30 pm (JST), 12:00 pm – 1:30 pm (EAT)

Venue: Keio University, Hiyoshi campus, Kyoseikan 5F Executive Room

Format: Hybrid

Language: English/French/Japanese (Simultaneous interpretation service available)

Co-organizer: JICA, UNDP, Keio Business School Executive MBA

Admission: Free

Program：

18:00～18:03     Introduction：MC
18:03～18:10     Setting the Scene
18:10～19:25     Panel Discussion
19:25～19:30    Closing

Panelists 

• Masahiro Okada, Ph.D., Professor of Strategy, Graduate School of Business, Keio University
• Tomihisa Shirakawa, Financial Institutions Department, Deputy General Manager, Sumitomo Mitsui Trust Bank, Limited
• Yuto Doya, Founder of NPO CLOUDY/ CEO of DOYA Co., Ltd.
• Ms. Mukahirwa Delphine, Software Developer, Rexvirt Communications Inc / Alumni of ABE initiative (Graduate School of Information Technology)
• Ms. Olatokunbo Ige, Founder and Executive Director, Afrika Nunya (online)

Moderator

Shuhei Ueno, Deputy Director General, African Department, JICA

Registration: Required from the website below

In-person: 

https://docs.google.com/forms/d/e/1FAIpQLSfBbSWL36hM3YCxGEnx3O1NlEA2z3cili8i_JW4BnOEx6Clsw/viewform?usp=sf_link

Online： 

https://undp.zoom.us/webinar/register/WN__w9z4KYfTwisXWr5PSNSHg

Contact:

Chika Kondoh, TICAD Partnership Specialist, UNDP Tokyo Office chika.kondoh@undp.org

Ryo Sarashina, Deputy Director, Planning and TICAD Process Division, Africa Department, JICA sarashina.ryo@jica.go.jp