Japanese prime minister
Shinzo Abe will visit South
Africa, Mozambique and
Cote d’Ivoire in early 2014
in a bid to boost Japanese
investment in these countries.
Sources say he will be
touring the continent with
a group of businessmen in
mid-January as part of the
prime minister’s economic
reform programme, dubbed
Abenomics by the global
media.
The Japan Daily Press (JDP)
reported earlier this month
that some Japanese companies
had been making significant
investments in several projects
in Africa, and Abe will be
looking to explore even
more opportunities as Japan
continues to grow economic
partnerships with countries
outside its region. “South
Africa is a good prospect for
investment as it accounts for
30% of the continent’s gross
national product. Currently,
Japan has been importing
rare metals from the largest
emerging country in the
region,” reports JDP.
Mitsui & Co is developing
the world’s largest natural
gas field in Mozambique and
this is expected to become an
important source of liquefied
natural gas (LNG) for Japan
in the future. The Japan Times
reports that Nippon Steel &
Sumitomo Metal Corp have
formed a joint venture and won
the rights to produce iron in
Mozambique. This, as Hellenic
Shipping News reports an
increase in Japanese iron ore
imports for September this
year – the majority sourced
from Brazil and Australia.
In June this year, Japan
pledged the sum of US$32
bn in aid to Africa to grow
infrastructure and help boost
investment. In 2012, some
115 Japanese companies were
operating in South Africa,
according to the department of
trade and industry (dti).
Japan’s Abe explores Africa opportunity
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