The African Diaspora Network Japan has pointed to Nigeria as a key place to improve business connections between Japan and Africa. They suggested that Japanese companies should explore the African market through the African Continental Free Trade Area.
During the 2024 Osaka-Africa Business Forum in Japan, which was also streamed online, leaders from the network emphasized that Nigeria is a top spot for businesses wanting to succeed in Africa.
Nose Yukio, an expert on small businesses, spoke about Africa’s unique market opportunities. She mentioned that Africa’s population is growing rapidly and has many natural resources. “By 2050, one in every four people on the planet will be from Africa,” she said, stressing that the underdeveloped nature of the market is a great chance for new businesses.
She encouraged attendees to look at “untapped markets,” especially in Nigeria’s Lagos, and suggested focusing on key regions: Egypt in North Africa, Kenya in East Africa, and Nigeria in West Africa.
Yukio advised Japanese companies on how to thrive in Africa by creating products that meet local needs. For example, she mentioned opportunities in automotive products, power generators, and water filters. By concentrating on these essential items, companies can avoid the common mistakes many foreign businesses make in Africa.
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She also encouraged Japanese firms to use local materials and take advantage of Africa’s lower labor costs to produce goods locally.
In another talk, Oussouby Sacko, a professor from Japan, described Africa as a major opportunity in the global economy. He urged Japanese business leaders to recognize Africa’s diversity and unique challenges, rather than seeing it as a single market.
Sacko noted that educational gaps can slow down trade partnerships and advised collaboration to find solutions. He emphasized the importance of Africa working closely with Asia for mutual benefits.
A representative from the Japanese government highlighted their commitment to improving partnerships with African countries, despite challenges like insecurity. “We work with African businesses because it brings us joy and profit,” they said, promising to share information about opportunities in Africa.
The official praised ADNJ for focusing on real business partnerships and for their efforts to involve more African companies and entrepreneurs in Japan.
David Kpondehou, the President of ADNJ, expressed pride in their initiatives aimed at changing how people view business travel from Africa to Japan. He mentioned projects like the Japan Africa Youth Agenda 2025 and the Pan African Network in Japan as important parts of their mission to strengthen connections.
