The Japanese government is investing approximately $20 billion to Africa, pledging to build more infrastructure in the continent.
Prime Minister Shinzo Abe promised to push efforts to make Africa a better country through its investment funding. “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,” said Abe.Besides Japan, another superpower nation China is also bringing in billions of money for investment to Africa. In fact, China is considered the biggest investor of Africa, backing up TV, manufacturing and railway systems.
According to CNN, China already surpassed the investments made by not only Japan but also the United States, India, and France. In 2017, China has injected $43 billion in funding for Africa to build more infrastructure and strengthen its e-commerce.
Promoting Healthy Relationship
Despite reports that claim Japan is taking on China in Africa investment, Deputy Director for foreign policy Macdonald-Laurier said that Japan is focused on promoting ‘healthy relationship’ with Africa.
“Japan does not see Africa as a ground for zero-sum competition with Beijing—but is rather looking for ways to enhance its longstanding engagement to promote healthy governance and sustainable business,” said Laurier.
Japan is also leveraging its position to engage in a better relationship with Africa by funding Kenya’s geothermal expansion power generation in 2018. In addition, Japan also supplied the country with Botswana broadcasting equipment to enhance Kenya’s digital broadcasting standards.
According to Laurier, Japan also likely to join forces with France, India and the United States to promote and create a sustainable and more inclusive type of development in Africa.