Reducing business risks in Africa appears to be key for Japan to shift its focus from assistance to investment in African nations at a time when China and Russia are trying to increase their presence in the continent.
At the Ninth Tokyo International Conference on African Development, or TICAD 9, which ended Friday, Japan promised to help African states develop 300,000 workers in cooperation with Japanese firms and to urge its companies to make investments and expand into the continent.
At the three-day conference discussing ways to support African states, Japan also decided to set up a framework to allow the Japan International Cooperation Agency to provide loans for private funds considering investments in businesses offering uncertainty but also possible high proceeds.
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