Japan takes on China with a planned $20 billion investment in Africa

Japan’s private sector will invest $20 billion over three years in Africa. Shinzo Abe, who was addressing African leaders gathered at the Tokyo International Conference on African Development (TICAD) in Yokohama, said Japan is interested in infrastructure and human development on the continent. “I make this pledge to you: The government of Japan will put forth every possible effort so that the power of Japanese private investment, of $20 billion in three years, should in the years to come be surpassed anew from one day to the next,” he said in his opening speech at TICAD.