FX.co ★ Japan PM pledges to inject $30bn in Africa

A lot of private and state-run funds are involved in large-scale projects in Africa. For decades, huge investments are being injected into the second-largest and second most-populated continent.

Japan is also ready to contribute to Africa’s welfare. Japan’s Prime Minister Shinzo Abe took part in the Tokyo International Conference on African Development (TICAD) in Nairobi on August 26, 2016. The policymaker confirmed that Japan would provide financial aid of $30 billion in investment into Africa by 2018. It is the first time that the TICAD conference was held in Africa, with all five previous events hosted in Japan. The conference aims to boost trade, protect human rights, develop market economy, and improve infrastructure in Africa.

Meanwhile, Tokyo has already established its presence on the Dark continent. However, Japan’s financial contribution to Africa has been overshadowed by regional rival China. "This is an investment that has faith in Africa's future," Shinzo Abe said at the summit.