AIRLINK 204.45 Increased By ▲ 3.55 (1.77%)
BOP 10.09 Decreased By ▼ -0.06 (-0.59%)
CNERGY 6.91 Increased By ▲ 0.03 (0.44%)
FCCL 34.83 Increased By ▲ 0.74 (2.17%)
FFL 17.21 Increased By ▲ 0.23 (1.35%)
FLYNG 24.52 Increased By ▲ 0.48 (2%)
HUBC 137.40 Increased By ▲ 5.70 (4.33%)
HUMNL 13.82 Increased By ▲ 0.06 (0.44%)
KEL 4.91 Increased By ▲ 0.10 (2.08%)
KOSM 6.70 No Change ▼ 0.00 (0%)
MLCF 44.31 Increased By ▲ 0.98 (2.26%)
OGDC 221.91 Increased By ▲ 3.16 (1.44%)
PACE 7.09 Increased By ▲ 0.11 (1.58%)
PAEL 42.97 Increased By ▲ 1.43 (3.44%)
PIAHCLA 17.08 Increased By ▲ 0.01 (0.06%)
PIBTL 8.59 Decreased By ▼ -0.06 (-0.69%)
POWER 9.02 Decreased By ▼ -0.09 (-0.99%)
PPL 190.60 Increased By ▲ 3.48 (1.86%)
PRL 43.04 Increased By ▲ 0.98 (2.33%)
PTC 25.04 Increased By ▲ 0.05 (0.2%)
SEARL 106.41 Increased By ▲ 6.11 (6.09%)
SILK 1.02 Increased By ▲ 0.01 (0.99%)
SSGC 42.91 Increased By ▲ 0.58 (1.37%)
SYM 18.31 Increased By ▲ 0.33 (1.84%)
TELE 9.14 Increased By ▲ 0.03 (0.33%)
TPLP 13.11 Increased By ▲ 0.18 (1.39%)
TRG 68.13 Decreased By ▼ -0.22 (-0.32%)
WAVESAPP 10.24 Decreased By ▼ -0.05 (-0.49%)
WTL 1.87 Increased By ▲ 0.01 (0.54%)
YOUW 4.09 Decreased By ▼ -0.04 (-0.97%)
BR100 12,137 Increased By 188.4 (1.58%)
BR30 37,146 Increased By 778.3 (2.14%)
KSE100 115,272 Increased By 1435.3 (1.26%)
KSE30 36,311 Increased By 549.3 (1.54%)

Japan's prime minister on Thursday warned African leaders against accumulating too much debt, in an apparent reference to Chinese infrastructure projects some blame for damaging the finances of developing nations.
Addressing leaders from several African nations at a development conference in Yokohama, Shinzo Abe stressed Tokyo was promoting "quality" infrastructure exports and investments, supported by Japan's government-backed institutions.
"What should the government do to encourage (entrepreneurs) to exercise their skills?" Abe asked the Tokyo International Conference on African Development (TICAD).
"If partner countries are deeply in debt, it interferes with everyone's efforts to enter the market," he said, introducing financing and insurance schemes by Japan's government-backed institutions aimed at reducing risks to businesses and public coffers.
Japan plans to train experts in 30 African countries in the next three years on managing risks and public debts, he said.
Abe aims to boost Japan's presence in the African market, but businesses are wary of financial and other risks.
However China, with its ambitious Belt and Road Initiative, has a massive presence, having announced $60 billion in African development funding last year.
Beijing has faced criticism for favouring Chinese companies and workers over local economies, saddling nations with debts, and ignoring rights and environmental issues.
Japan stresses its loans and projects come with fewer strings attached, and with sound financial advice and support.
Shoji Takamatsu, a veteran consultant on African investments, said it was difficult for Japan to compete with China's economic might and zeal for building its presence in Africa.
"Japan has (Africa) policies, but the size and the scope of China's national efforts to promote investments in Africa are enormous and difficult to match," he told AFP.
"Some potential (Japanese) investors come to us with proposals that are too costly for local users. Then a typical response we hear is 'Well, we offer high quality.' This only creates difficulty," Takamatsu said.
But Japanese firms do enjoy greater consumer confidence in fields like food and healthcare, he added.
Takamatsu said markets around the world were becoming saturated, and Africa was a market "with potential". Since 1993, Japan has partnered with African countries to hold the TICAD conference around every five years to promote aid and business opportunities.
Japan, with its own government funding problems, has struggled to increase its foreign aid money.
It has also shifted its focus on encouraging the private sector to invest in Africa.

Copyright Agence France-Presse, 2019

Comments

Comments are closed.