Source: Punch Newspaper
The African Diaspora Network Japan (ADNJ) has spotlighted Nigeria’s crucial role for Japanese companies aiming to launch and expand their footprint in the African market. At the 2024 Osaka-Africa Business Forum, themed “Let’s Walk with Africa,” ADNJ leaders urged Japanese businesses to utilize the African Continental Free Trade Area (AfCFTA) as an entry route into Africa’s burgeoning economy. They highlighted Lagos, Nigeria’s thriving commercial center, as an ideal starting point for Japanese enterprises hoping to establish a presence in West Africa.
Advisor on SMEs, Nose Yukio, emphasized during her keynote speech that Africa’s booming population and abundant natural resources offer substantial market potential. “By 2050, Africa will represent a quarter of the world’s population,” Yukio remarked, designating Nigeria as a strategic choice for companies looking to explore untapped markets. She encouraged businesses to carefully choose their entry points across the continent, citing Egypt in North Africa for its logistical ties to Europe, Kenya in East Africa, and Nigeria in West Africa. Yukio also advised Japanese firms to prioritize products aligned with local needs, such as automotive parts, power generators, and water filtration systems, stressing that focusing on essential goods could help mitigate typical challenges that foreign companies often encounter in African markets. “To succeed and avoid failure, pay attention to what the market truly needs,” Yukio advised.
Japanese-Malian academic Oussouby Sacko added insights on Africa’s potential, describing it as “the final frontier of the global economy.” He underscored the importance of recognizing Africa’s diversity, encouraging Japanese executives to approach the continent with informed perspectives rather than seeing it as a homogenous market. Sacko acknowledged that educational disparities can sometimes hinder trade relations, and advocated for collaborative solutions to bridge these gaps. “Africa must collaborate with Asia,” he affirmed, stressing the value of reciprocal partnerships.
A representative from the Japanese government echoed Japan’s dedication to cultivating alliances with African countries, acknowledging existing challenges but expressing optimism for growth. “Our partnerships in Africa make us happy and help us generate profit,” the official stated, pledging continued support for Japanese enterprises interested in Africa.
ADNJ President David Kpondehou expressed pride in the organization’s efforts to reshape perspectives and strengthen Japan-Africa business connections. “ADNJ is leading the way to change the narrative, where Africans can come to Japan for business visits,” Kpondehou said. He highlighted initiatives like the Japan Africa Youth Agenda 2025 and the Pan African Network in Japan as central to ADNJ’s mission to promote cross-continental interaction and opportunity.
This collective commitment reflects Japan’s broader vision for sustainable economic collaboration with Africa, advocating for enduring partnerships that bring benefits to both continents.
