TICAD9 Concurrent Event Overview
As a concurrent event of the 9th Tokyo International Conference on African Development (TICAD9), JETRO held the "TICAD Business Expo & Conference (TBEC)" in Yokohama City from August 20-22. On August 21, a panel discussion titled "Japanese Companies Challenging in Africa: Business Possibilities Created Together with Local Communities" was conducted featuring Japanese companies operating in Africa.
Current Analysis of African Economy
Market analysis by Yuji Yokoyama, Representative Director of Accel Africa, clarified growth sectors by country. Nigeria focuses on technology and finance, Ethiopia on manufacturing and agriculture, Ghana on natural resources and infrastructure investment, Rwanda and Botswana on tourism and innovation, and Côte d'Ivoire was introduced as the most dynamic market in West Africa's Francophone region.
Startup Investment Trends
African startup investment in the first half of 2025 (January-June) recorded over $1.4 billion, a 78% increase compared to the same period last year. In the fintech sector, mobile money and microfinance proliferation has advanced, with startups providing international remittance and low-fee payment services gaining prominence. In cleantech, attention is gathering on smart agriculture, electric mobility, and waste processing in addition to renewable energy.
Specific Initiatives by Japanese Companies
Panasonic Information Systems: Educational and employment creation support through used PC donation activities MAGO MOTORS JAPAN: EV, recycling business, and agricultural expansion in Ghana, along with awareness activities addressing developed countries' waste problems Musashi Seimitsu Industry: Environmentally-conscious two-wheel EV development in Kenya and Ethiopia, leveraging local trust in Japanese technology Shift 80: Used clothing fashion business in Kenya's slums, bidirectional support through collaboration with local designers
Importance of Local Partnerships
Participating companies shared that close communication with local partners is key to business success in African countries facing political instability risks. The importance of building sustainable business models through technology transfer, job creation, and environmental problem solving was emphasized.