The African Development Bank's Chief Economist and Vice President, Prof. Kevin Chika Urama, participated in the Ninth Tokyo International Conference on African Development (TICAD9) in Yokohama from August 20-22, 2025, reinforcing Africa's position as a strategic investment destination and highlighting the continent's transformative economic potential.
TICAD9 brought together delegations from 49 African countries, including 33 heads of state and government, alongside international organizations, business leaders, and civil society. The high-level attendance underscored Africa's centrality in global development discourse and Japan's longstanding commitment to the continent. The conference attracted over 10,000 participants, reflecting its breadth as a multistakeholder platform, while the TICAD Business Expo & Conference, organized by JETRO, showcased 196 Japanese companies and organizations, including 107 SMEs, the largest exhibition in TICAD history. Prime Minister Ishiba announced the "Economic Region Initiative of Indian Ocean–Africa", designed to enhance trade and investment links between Africa, India, and the Middle East.
The African Development Bank was represented by a high-level delegation, led by Dr. Kevin Kariuki, Vice President for Power, Energy, Climate & Green Growth, which actively engaged across multiple forums throughout the three-day conference. The Bank's Chief Economist participated as a panelist in the Economic Partnership in Indian Ocean-Africa Forum organized by Nikkei Newspaper, METI, and MOFA, and in the IMF–Ministry of Finance Japan side event on debt management. He also attended the High-Level Policy Dialogue on "Harnessing the Potential of Africa – Strengthening Partnerships between MDBs, Japan's DFIs, and Private Sector," which featured the signing of the sixth Enhanced Private Sector Assistance (EPSA) agreement between the Bank and JICA. Additionally, the Chief Economist participated in bilateral meetings with Mr. Nobumitsu Hayashi, Governor of the Japan Bank for International Cooperation (JBIC), to discuss infrastructure, climate finance, and private sector collaboration. These engagements aimed to promote economic partnerships through triangular cooperation, strengthen debt transparency and management capacity, and mobilize private capital for Africa's sustainable and resilient growth.
Speaking at the Economic Partnership Forum, Prof. Urama underlined Africa's resilient growth performance, averaging 4% over two decades despite global shocks, with over 20 countries exceeding 5%. "Smart investors invest in Africa," he emphasized, noting that by end-2025 up to 15 of the world's fastest-growing economies will be African. He highlighted Africa's transformative potential—by 2050, the continent will represent one-third of the global labor force, hold 45% of renewable energy potential, and see its agricultural market exceed USD 1 trillion. He urged Japanese companies to accelerate engagement, warning that delays could mean missed strategic opportunities. At the debt management event, he presented the Bank's initiatives including the Public Finance Management Academy, the Debt Management Forum for Africa (DeMFA), and the Africa Debt Managers Initiative Network (ADMIN), stressing that the key challenge is not only debt transparency and sustainability, but also debt productivity—ensuring borrowed funds generate sufficient returns. A key highlight was the signing of the EPSA VI agreement amounting to USD 5.5 billion over three years, starting in 2026, which underscores the deepening partnership and commitment to mobilizing private capital for Africa's sustainable growth.
The conference concluded with adoption of the "TICAD9 Yokohama Declaration", reaffirming Africa-led development and alignment with Agenda 2063 and the SDGs, with emphasis on sustainable infrastructure, climate resilience, agriculture, health, and digital transformation. "TICAD9 provided a strong platform to showcase Africa's economic resilience, reinforce the Bank's leadership on debt management and governance, and deepen partnerships with Japan and other stakeholders," noted the Chief Economist. The Conference's emphasis on private sector–led growth resonates strongly with the Bank's Africa Investment Forum (AIF), which provides a complementary marketplace to translate such commitments into bankable projects. The high-level political commitment, the launch of new initiatives, and the EPSA VI agreement all reaffirm Japan's strategic role as a partner for Africa's transformation.
