At the ongoing Ninth Tokyo International Conference on African Development (TICAD 9) in Yokohama, Japanese Prime Minister Shigeru Ishiba announced a pledge of up to $5.5 billion in support for Africa.
The commitment, which will be disbursed through a collaborative economic framework with the African Development Bank (AfDB), is designed to accelerate private sector-led growth across the continent.
Focus is on co-creating solutions and fostering a partnership built on mutual benefit, rather than a traditional aid model. This aligns with the conference’s overarching theme: “Co-create Innovative Solutions with Africa.”
The announcement was made at the conference’s plenary session on “Peace and Stability” on Wednesday, where leaders from over 50 African nations gathered.
In his address, Nigerian President Bola Ahmed Tinubu praised Japan’s commitment to private sector-led development, while also calling for “two permanent seats for Africa at the United Nations (UN) security council ”, emphasizing that the continent has earned its rights at the table.
Meanwhile, the pledge is primarily aimed at stimulating private investment, rather than government-to-government aid.
Prime Minister Ishiba’s pledge is a clear signal of Japan’s renewed commitment to its long-standing partnership with the continent, which dates back to the first TICAD conference in 1993.
As the three day conference continues, it is expected to lead to specific agreements and collaborations between Japanese and African companies and governments, particularly in sectors such as infrastructure, technology, and green energy.####
