The African Diaspora Network Japan (ADNJ) has identified Nigeria as a prime location for Japanese businesses seeking to expand their reach into the African market.
At the recent 2024 Osaka-Africa Business Forum, ADNJ leaders and speakers highlighted Nigeria’s strategic position and rapidly growing economy as key factors in its appeal to Japanese investors.
Nose Yukio, an adviser on small and medium enterprises, emphasized the untapped potential of the African market, particularly in Nigeria. She urged Japanese businesses to focus on essential products and services that meet local demand, such as automotive products, power generators, and water filters.
“To succeed and not fail, look at the market for something needed,” Yukio advised. She also encouraged Japanese companies to leverage Africa’s competitive labor costs by manufacturing locally.
Oussouby Sacko, a Japanese-Malian professor, described Africa as “the final frontier of the global economy.” He urged Japanese businesses to appreciate the continent’s diversity and unique challenges, and to work together with African partners to find solutions.
The Japanese government representative expressed their commitment to fostering stronger ties with Africa, acknowledging the challenges posed by insecurity. They emphasized the importance of information sharing and collaboration between Japanese businesses and African entrepreneurs.
ADNJ President David Kpondehou highlighted the organization’s efforts to reshape perceptions of Africa and promote cross-continental business interactions. Initiatives like the Japan Africa Youth Agenda 2025 and the Pan African Network in Japan are key pillars in ADNJ’s mission to strengthen ties between Japan and Africa.
By focusing on key markets like Nigeria and leveraging strategic partnerships, Japanese businesses can unlock the immense potential of the African continent.
