President Cyril Ramaphosa attended the Japan-Africa business forum on the 28th of August. The forum was part of an initiative to strengthen business relations between Africa and Japan. Japan has many businesses and large corporations invested into the African economy, such as automobiles to advanced mining machinery, and from agribusiness to financial services.
President Ramaphosa was one of the speakers at the forum and shared his hopes about the future of business relations between Japan and Africa.
“Africa is on the cusp of a new era. As we launch the implementation phase of the African Continental Free Trade Area, we are closer to our ambition of creating a free trade area stretching from Cape to Cairo. This will create one of the largest free trade blocs in the world, with a rapidly growing population of 1,3 billion people. Taken as a whole, Africa is already the world’s eighth largest economy and is set to expand rapidly over the coming decades,” enthused Ramaphosa.
Although Africa has many challenges that it faces economically, strengthened relations between a developed country like Japan will surely benefit the continent in the long run.
Do you think Japan-Africa business relations will be beneficial to the continent? Comment below.