TOKYO, Japan, Aug 20 – The African Trade & Investment Development Insurance (ATIDI), Mitsubishi UFJ Financial Group (MUFG), and Nippon Export and Investment Insurance (NEXI) co-hosted a high-level side event at the Ninth Tokyo International Conference on African Development (TICAD9), showcasing Africa’s readiness for investment and strengthening Japanese-African cooperation.
The meeting, themed “Unlocking Japanese Private Sector Investment in Africa”, brought together government leaders, investors, and private sector executives to explore pathways for sustainable Japanese investment across infrastructure, energy, manufacturing, and digital transformation.
A highlight of the discussions was the launch of Safaricom Telecommunications Ethiopia Plc (STE), the single largest FDI in Ethiopia and one of the most significant Japanese-backed projects in Africa. ATIDI supported the investment by issuing a 10-year political risk insurance policy to Sumitomo Corporation, with reinsurance from NEXI.
“Unlocking Africa’s vast potential requires bold partnerships and innovative risk solutions. By mitigating risk and building investor confidence, we are paving the way for a new era of Japanese private sector engagement across the continent,” said Manuel Moses, CEO of ATIDI.
NEXI, which became an ATIDI shareholder in 2023 with a USD 15.1 million investment, reaffirmed its commitment to de-risking Japanese ventures. “We will continue to engage in public-private partnerships to support Africa’s further development,” said Atsuo Kuroda, Chairman and CEO of NEXI.
MUFG, Japan’s largest financial institution, underscored its role in structuring cross-border investments. “Together with ATIDI and NEXI, we aim to explore practical pathways for increasing Japanese private sector engagement on the continent,” said Ankit Khandelwal, Director, Head of Africa for sovereigns, DFIs and blended finance, MUFG.
On the sidelines of TICAD9, ATIDI and MUFG signed a Memorandum of Understanding (MoU) to enhance collaboration on risk mitigation solutions for Japanese investors in Africa. ATIDI’s current portfolio covers 72 policies valued at over USD 5.4 billion, with MUFG-arranged financing exposures worth USD 1.86 billion.
As Africa pushes for inclusive and sustainable growth under TICAD9’s theme, “Co-create Innovative Solutions with Africa,” the event highlighted how de-risking tools, blended finance, and strategic partnerships can unlock long-term Japanese capital for Africa’s development.
