The world has changed enormously since the last time African leaders made the long journey to Yokohama in 2019. In the intervening six years, the Covid-19 pandemic brought huge setbacks to development progress the Russian invasion of Ukraine deepened a major food security crisis in Africa and the second Trump administration upended decades of US engagement on the continent.
A more positive trend has been the steady rise in trade and investment between Africa and Japan. Although Africa continues to receive only a marginal share of Japanese foreign direct investment, a growing number of Japanese corporates and financial institutions have established a footprint on the continent. A consortium of Japanese investors has played a vital role in financing LNG developments in Mozambique, for example, while a host of Japanese brands have sought to invest in African start-ups.
While Japan's presence in Africa is much less conspicuous than that of China, its Asian rival, there is no doubt that goodwill exists on both sides to expand the Japan-Africa relationship. Japanese investors increasingly recognise the opportunities on offer in Africa, even if many still tend to overemphasise the risks. Meanwhile, with reduced support from the United States, and even traditional European partners cutting aid, African governments hope Japan will boost its role as a partner for the continent.
Ahead of TICAD 9, which will also feature participation from a range of multilateral institutions, African Business looks at four things to watch out for at the showpiece event for Japan-Africa relations.
Aid and investmentAt the last TICAD, in 2022, the headline announcement was the Japanese government's pledge to contribute an additional 30bn in aid to Africa over the following three years.