The fifth Tokyo International Conference on African Development, Japan's official channel to the continent, kicks off Saturday with Prime Minister Shinzo Abe planning to pledge up to ¥3.2 trillion in total aid over the next five years.

The promise of additional financing comes as Japan seeks to increase its visibility in Africa, as Asian rivals like China already have a huge presence and India and South Korea seek to strengthen their own relations with the continent and tap its vast potential.

Japanese companies view Africa as a potential of abundant business opportunities thanks to a growing middle class, fossil fuel resources and rare metals needed for the high-tech sector. But the continent, which still faces poverty and conflicts, requires international assistance in many basic areas.