Japan’s NINJA Accelerator in Kenya picks 5 startups for its first cohort

KENYA – The “NINJA Accelerator in Kenya” – powered by the Japan International Cooperation Agency (JICA), in partnership with Double Feather Partners (DFP), Deloitte Tohmatsu Venture Support (DTVS), Deloitte Tohmatsu Financial Advisory (DTFA) and GrowthAfrica has selected five high-potential Kenyan ventures for its first cohort. The NINJA Accelerator in Kenya will offer a blend of local, Japanese, and international mentoring, expertise, coaching, and investor relations, all customized to meet the needs of each venture over the course of three months with a Demo Day scheduled for July 29th, 2021.  The…

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Mauritius gets US$289m loan from JICA for Covid-19 fight

MAURITIUS – The Japan International Cooperation Agency (JICA) has extended an Official Development Assistance loan of up to US$289 million to support Mauritius’ response to the Covid-19 pandemic and rebuild its economy. The loan, signed on 24 February, is a parallel co-financing agreement between JICA and the African Development Bank under the Enhanced Private Sector Assistance for Africa (EPSA) joint initiative to spur private sector-led sustainable and inclusive growth in Africa. The co-financing arrangement will help the Mauritius government contain the pandemic, secure livelihoods, and boost the resilience of the…

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AfDB and JICA sign US$668.1m loan agreement to replenish African Development Fund

AFRICA – The Japan International Cooperation Agency (JICA) and the African Development Fund (ADF), the concessional arm of the African Development Bank Group have signed a loan agreement of US$668.1 million to support the 15th replenishment of the African Development Fund (ADF-15). During a virtual ceremony, African Development Bank Group President Dr. Akinwumi A. Adesina and Japanese Ambassador to Côte d’Ivoire Kuramitsu Hideaki signed an Exchange of Notes, while the loan agreement was signed by the JICA Chief Representative in Côte d’Ivoire, Fujino Kojiro, and Acting African Development Bank Group Senior…

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JICA expands its NINJA accelerator programme to Kenya

KENYA – The Japan International Cooperation Agency (JICA) is expanding its startup accelerator programme NINJA Accelerator to Kenya. JICA is the body that coordinates official development assistance for the Japanese government in developing countries and aims to promote international cooperation by supporting the socio-economic development, recovery, or economic stability of emerging economies. The  NINJA Accelerator 9 was launched in Ethiopia last year and is now expanding it to Nairobi in April in partnership with the Double Feather Partners (DFP), the Deloitte Tohmatsu consortium and Growth Africa.  The first cohort of five…

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Rwanda clinches US$28m financing from Japan to enhance nutrition improvement efforts

RWANDA – The government of Rwanda has received the second tranche of the 10 billion-yen (US$94m) Sector Policy Loan for Nutrition Improvement through Agricultural Transformation, from Japan International Cooperation Agency (JICA) to assist Rwanda’s effort to tackle malnutrition. The second tranche aggregating to 30% of the total loan i.e. equivalent to US$ 28million has been disbursed as a result of achievements of the set policy actions by the Government of Rwanda in its continuous efforts to improve nutrition through agriculture transformation, reports Rwanda News Agency. Since 2012, official statistics show Rwanda has…

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Ghana COCOBOD launches US$600m syndicated loan facility to boost sector operations

GHANA – The Ghana Cocoa Board (COCOBOD) has officially launched the US$600 million syndicated loan facility which it signed with some Development Finance Institutions (DFI) to finance key components of the organisation’s productivity enhancement programmes. The loan facility aims to implement production, warehousing and processing interventions, adding value to Ghana’s cocoa sector. According to a statement by COCOBOD, the institutions providing the funds include the Japan International Cooperation Agency (JICA), the African Development Bank (AfDB), the Development Bank of South Africa (DBSA) and Cassa Depositi e Prestiti Spa (CDP), as well…

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JICA to finance establishment of a tyre retreading plant in Ethiopia

ETHIOPIA – Japan International Cooperation Agency has approved a project proposal that aims at establishing a tyre retreading plant in Ethiopia. The Japanese development agency accepted the project proposal that was submitted by Fukunaga Engineering Co., Ltd, a Japanese firm, to set up a tyre retreading plant on the premises of one of Ethiopian Shipping & Logistics Services Enterprise’s locations. The plant will be built inside the Enterprise’s Qality Branch, Akaki Qality District, where the Qality Customs Branch Office is located. At that location, thousands of old and used tyres…

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Japan, AfDB commit US$3.5bn to support Africa’s private sector development

AFRICA- Japan and the African Development Bank (AfDB) have announced a joint target of $3.5 billion under the Enhanced Private Sector Assistance for Africa initiative (EPSA4). The announcement was made during the 7th Tokyo International Conference on African Development (TICAD 7) that is currently taking place in Yokohama, Japan. Both Japan and the Bank have set a target of $1.75 billion each, from 2020-2022, to enhance the fourth phase of EPSA. The funds will be used to spur private-sector-led sustainable and inclusive growth in Africa. “Building on the successful achievements so…

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