The 9th Tokyo International Conference on African Development (TICAD 9) aims to support sustainable economic growth and facilitate Japanese corporate expansion in Africa.
In a significant move to deepen its engagement with the African continent, Mizuho Financial Group announced the signing of five new memorandums of understanding (MOUs) during the 9th Tokyo International Conference on African Development (TICAD 9).
The series of partnerships began on August 19, when Mizuho Bank and Mizuho International signed an MOU with the Ministry of Finance of the Republic of Angola. This collaboration is designed to assist Angola in diversifying its funding sources and securing export credit agency financing. As sub-Saharan Africa's third-largest economy and a major oil producer, Angola is actively working to reduce its reliance on oil and pursue a more diversified economic future, making this agreement a crucial step towards stable, long-term growth.
On the same day, Mizuho Bank entered a new agreement with The Standard Bank of South Africa Limited. With total assets of $190.6 billion, Standard Bank is Africa's largest private bank, providing Mizuho with a robust partner to broaden its service system for clients and expand its reach into East Africa.
The momentum continued on August 20, with two more key signings. Mizuho Bank and Mizuho International inked an MOU with the Namibia Green Hydrogen Programme (NGH2P). This partnership is a direct response to the global push for sustainable and ESG-focused investments. The agreement will facilitate mutual information sharing, market research, and promote exchanges with Japanese companies interested in Namibia's green energy sector.
The final agreement was signed on August 21 with Tsubame BHB Co., Ltd., a Japanese start-up company specializing in low-environmental impact ammonia synthesis. This MOU centers on leveraging Mizuho Bank's extensive network to help Tsubame BHB commercialize its green hydrogen and ammonia technologies in African economies. The partnership is a strong example of how Mizuho is utilizing its integrated strengths to connect innovative Japanese companies with new markets and contribute to sustainable solutions on a global scale.
Mizuho Bank's long-standing presence in Africa, including its Johannesburg representative office and dedicated teams in London and Dubai, provides a solid foundation for these new initiatives. The bank's integrated approach, combining its corporate banking, securities, and international teams, ensures that it can provide comprehensive support to companies expanding into African markets. These new MOUs will not only enhance Mizuho's ability to serve its clients but also play a constructive role in the ongoing development and growth of African economies.
