Investment prospects in Africa often take centre stage during the triennial Tokyo International Conference on African Development (TICAD), an event designed to strengthen economic and development partnerships between Japan and African nations. In August 2025, Japan hosted TICAD 9 in Yokohama, bringing together then-Prime Minister Shigeru Ishiba, 34 African heads of state, and leaders of major international organizations to discuss ways to deepen collaboration. The conference culminated in the adoption of the Yokohama Declaration, emphasizing economic cooperation and increased investment engagement with African countries.
Despite these efforts, Japan’s investment in Africa has stagnated over the past decade. Capital flows peaked at approximately $12 billion in 2013, fell to $4.8 billion in 2020, and rebounded modestly to around $9 billion last year. According to Bernard Laurendeau, managing partner of Enkopa Lab Japan, the challenge lies partly in the limited availability of reliable and actionable information for risk-averse Japanese firms. “There is definitely information asymmetry. Many companies do not fully understand the market dynamics or the actual opportunities in Africa,” Laurendeau explained in a recent interview with The Japan Times.
Laurendeau, who is of Ethiopian and French descent, founded Enkopa Lab Japan in March 2025 to help Japanese businesses build bridges with African partners. The consultancy aims to provide in-depth local market intelligence, connecting Japanese companies with African businesses, thereby reducing uncertainties and accelerating decision-making. Laurendeau brings extensive experience from consulting and banking in the United States, as well as advisory roles in Africa, including serving as senior advisor to Ethiopia’s Jobs Creation Commission and co-founding Arifpay Financial Technologies, a leading Ethiopian payment platform.
The TICAD 9 discussions highlighted the need for Japanese companies to maintain consistent engagement with African markets, rather than limiting involvement to the triennial conference. Laurendeau noted that 2025 may be a pivotal year for deepening Japan-Africa business ties, as momentum builds from both private and public sectors. Organizations such as Keidanren and Keizai Doyukai, major Japanese business associations, have expressed interest in boosting Japanese corporate presence across the continent.
Ahead of TICAD 9, Keizai Doyukai issued a policy proposal urging Japanese companies to recognize the “cost of inaction” in Africa, stressing that delays in investment could result in missed opportunities as other countries expand their presence. The proposal also highlighted that partnering with organizations and firms knowledgeable about African markets represents the best strategy for conservative Japanese businesses. This is where Enkopa Lab Japan aims to add value, leveraging its African roots and partnerships with local market research firms like Kasi Insight in Nairobi to deliver granular insights on consumer behavior, demographics, and spending patterns.
Laurendeau emphasized the benefits of actionable, on-the-ground intelligence. “Our clients come to us because they need real insights from Africa—they want to know if entering a particular market will yield tangible opportunities or just consume time and resources.” Last month, he organized a business conference in Ethiopia, inviting Ken Shibusawa, the Keizai Doyukai official responsible for African policy, to connect Japanese and African enterprises.
Many African companies are eager to collaborate with Japanese businesses due to their reputation for high-quality products and services. However, Japanese companies are often slower in decision-making and less flexible in providing financial support compared to Chinese competitors. Laurendeau noted that developing a robust strategy for scalable financial support, combined with detailed market intelligence, could help Japanese companies accelerate investment decisions and strengthen mutually beneficial partnerships.
“Our mission is to build a strong bridge between Japan and Africa focused on real business opportunities, fostering sustainable growth and win-win outcomes for both regions,” Laurendeau said, underlining the importance of shifting mindsets and embracing Africa’s untapped potential.
