Tech in Africa
Kenya emerged as the top destination from a list of 10 countries hovering above South Africa and Nigeria on the future investment chart. Japanese investors were increasingly fixated on the Africa market infrastructure demand across the continent.
In a survey conducted by Japan, External Trade Organization (Jetro), Eastern and Southern countries were more preferable to Japanese investors than their West African counterparts. The investors singled out Kenya as their most preferred future investment destination while South Africa followed second from a list of 10 countries.
The survey singled out Japan-affiliated companies searching for new markets to spread out their wealth. Out of the survey, Kenya’s assurance score was 35.1%, followed by South Africa 33%, with Nigeria closing the top three at 29.4%. In fourth place was Ethiopia at 21.3% and Ghana at 19.5%. Tanzania closed the list at position 10 (15%).
According to the report, Kenya ranks favorably due to the growing number of mushrooming startups. Compared to last year’s figures, South Africa rose to overtake Nigeria from 2nd place. Investor interest in Mozambique and Tanzania has steadily declined since 2018.
Jetro is a Japanese government-established organization working to promote mutual trade between Japan ad the rest of the globe. This survey mainly targets firms receiving capital contributions from other Japanese companies regardless of their investment ratio or the number of Japanese expats present.
