African Development Bank President Akinwumi Adesina commenced a 5-day official visit to #Japan with a speech delivered at the Japan-Africa Investment Ecosystem Co-Creation Forum.
In Japan with a bank team, Adesina used his time to highlight Africa as the “w world’s best investment destination now and in the future,” noting that the continent has the fastest-growing middle class in the world, with consumer and business spending projected to reach almost $7 trillion by 2030.
The Bank Group head also emphasized the continent’s potential to play a key role in the global transition to #electricvehicles, thanks to mass deposits of “green metals” including lithium, a key component in the manufacture of batteries for sustainable and #climate conscious transportation.
In his lecture, Adesina cited Japanese multinationals such as Toyota Tsusho, Mitsubishi Corporation, Hitachi and Komatsu, whose businesses make billions of dollars in profit every year. “These companies will tell you investing in Africa pays! There is now a greater pulse and excitement for more Japanese investments in Africa,” he said.
Adesina reassured investors, “Africa is also not as risky to investments as many perceive,” and added, “Let’s ramp up Japanese private sector investments in Africa. Let’s do more together in Africa, faster and at scale.”
