Leaders including Deputy President William Ruto urge Japan to increase investment in Africa

By Fredrick Obura

KENYA: Leaders have called on Japanese government to take advantage of reforms in Africa to increase investment in the region.

Including Kenya’s Deputy President William Ruto, the leaders noted that the reforms Africa underwent in the 1980's and 90's was now "paying fruits and investors such as the Japanese government should make good use of the opportunity to increase their investments in the region.

They called on Tokyo to invest in fields such as agriculture, human resource development and manufacturing. Traditionally Japan has concentrated more on extraction of minerals and infrastructure.

"We want more trade investments than aid. Africa's potential for investment is high," said Ethiopian Prime Minister Hailemariam Desalegn.

The Ethiopian PM also challenged African countries to enact more laws that facilitates and attracts investment.

Sirleaf observed that the African continent was growing at a fast rate because of two decades of reforms.

Quoting an International Monetary Fund report she said : "Africa is growing at a rate of between five and eight per cent and this shows it is very attractive for investment by the private sector."

However, she argued that the growth was not reflected  and transformed in the lives of the people as more than 50 per cent still lived below the poverty line.

"We should ensure that our growth is translated into economic emancipation of the people," she added.

Mr Ruto said African Governments should focus more on creating environments that attract investors.

He said Kenya believed in a government facilitated private sector investment.

"We intend to provide new impetus to ensure the private sector helps the Government in its pledges...that should be the goal in the continent," the deputy president added.

In a separate meeting with Japan Association of Corporate Executives, the deputy President said the government will provide a good climate for investment.

He praised Japanese Government and companies involved in geothermal development, funding technology training and the expansion of the Mombasa port among other areas.