Japanese investment in Mozambique should involve private companies

25 August 2017

Japan should pay more attention to financing private sector projects in Mozambique, rather than what currently happens, where only public institutions are supported, said the chairman of the Mozambican Confederation of Economic Associations (CTA).

Agostinho Vuma, who was quoted in the Mozambican press as saying that the financing granted by Japan was exclusively for the public sector, regretted that the country had fallen from third to 10th place on the list of the largest investors in Africa between 2009 and 2014.

The president of the CTA spoke on the sidelines of the Tokyo International Conference for the Development of Africa, a meeting due to end on Friday in Maputo and which brings together African foreign ministers to discuss the challenges the continent faces.

According to Vuma, of the 73 memoranda signed between Japan and African countries last year, Mozambique signed six, but all these were signed between the Mozambican government and private Japanese companies.

Vuma acknowledged that Japan has already shown interest in increasing its investments in Africa, and it is now up to Africans, particularly the private sector, to demonstrate that they are prepared.

However, he added that Africa in general and Mozambique in particular would have much more to gain if all these investments took place between private institutions, because only in that way would there be a real transfer of knowledge and technology.

During the conference, Foreign Minister Taro Kono said Japan would continue its efforts to ensure free trade and strengthen the routes connecting Asia and Africa, including qualitative investment in infrastructure. (macauhub)