Japan Seeks to Outdo China in African Markets
Staff Reporter | | Aug 27, 2016 06:00 PM EDT |
(Photo : Getty Images) Kenya's Nobel Peace laureate Wangari Maathai attends the Tokyo International Conference on African Development.
Japan has set out to outdo China in the African market in terms of quality of the material it produces.
To do this, Japan has organized a trade show scheduled in Nairobi, Kenya. The two-day development conference aims to unveil aid and investment projects.
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The conference, known as the Tokyo International Conference on Africa Development (TICAD), is being hosted in Africa for the first time. Previous meetings have all been aired in Japan since its inception in 1993.
Presiding over the event will be Prime Minister Shinzo Abe. The event will also feature a host of African leaders including Kenya's President Uhuru Kenyatta.
Abe promised that Japan's "high-quality and human resource development" would support industrialization in Africa. He added that Japan would be investing $30 billion in Africa with $10 billion expected to go to infrastructure development.
"This is an investment that has faith in Africa's future," he said.
On Friday, President Kenyatta addressed the nation and encouraged Kenyans. He challenged them that this should be more than just a visit.
"We know that most nations which escape the grip of poverty do so by industrializing. Africa still has not lived up to its potential," he said. "Development is not something that will happen to Africa, it is Africans themselves who will win the freedom and prosperity they deserve."
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