TICAD IX Delivers Investment Pledges and Reform Warnings

President John Dramani Mahama has urged African leaders to embrace reforms and ensure stability to make the continent an attractive destination for global investment.

Speaking at the 9th Tokyo International Conference on African Development (TICAD 9), President Mahama said Africa is ready for business but warned that wanting investment is not enough to get it.

“Africa is open for business. We wish to partner with any nation on a win-win basis. But let’s not kid ourselves, trade and investments will not come to Africa because we wish for it,” he stated.

His remarks came as the three-day conference ended with the adoption of the Yokohama Declaration, which sets out enhanced Japan-Africa cooperation in economy, society, peace and stability.

The declaration tackled challenges such as poverty and weakening multilateralism, while supporting a rules-based trading system and backing the African Continental Free Trade Area.

Japanese Prime Minister Shigeru Ishiba announced new programmes during the conference, including plans to create an Indian Ocean-Africa economic zone to help Japanese businesses expand. 

He also revealed an ambitious plan to train 300,000 African professionals in artificial intelligence over the next three years.

The conference produced concrete results, with Japanese companies set to invest $100 million in Ghana, demonstrating the investment potential that President Mahama spoke about.

The Yokohama Declaration also promised deeper cooperation on health, youth entrepreneurship, and governance. It stated that democracy and the rule of law form the foundation for sustainable development.

With TICAD 9 now concluded, attention turns to implementing these commitments. The next conference will take place in Africa in 2028, where the continent will show the progress made in creating the stable, reformed environment needed to attract beneficial partnerships.

Richard Aniagyei, ISD