Japan is stepping up its engagement with Africa in a way that’s turning plenty of heads in diplomatic and business circles. From August 20 to 22, 2025, the city of Yokohama is hosting the 9th Tokyo International Conference on African Development (TICAD 9), a summit that marks a significant evolution in how Japan views its partnership with the continent. It’s not just about aid anymore; it’s about investment, innovation, and, perhaps most importantly, long-term collaboration.
On August 19, just ahead of the summit, the Japanese government announced a bold plan: to raise $1.5 billion over the next three years for impact investing in Africa. According to the Ministry of Foreign Affairs, this funding will be orchestrated by the Japan International Cooperation Agency (JICA) in collaboration with private investors, aiming to curb greenhouse gas emissions and support sustainable growth across the continent. As reported by Bloomberg, Japan’s $1.7 trillion Government Pension Investment Fund is also eyeing the impact investing market, signaling a broader shift in the country’s investment philosophy.
Impact investing, for the uninitiated, is about more than just financial returns. The Global Impact Investing Network (GIIN) estimates that the industry now manages $1.57 trillion in assets worldwide. The goal? To generate profits alongside tangible social and environmental benefits. Japan’s $1.5 billion commitment is part of a global trend, but it carries unique weight given the country’s ambitions to position itself as a strategic, long-term partner to Africa.
Takehiko Matsuo, Japan’s Vice-Minister for International Affairs at the Ministry of Economy, Trade, and Industry, told Bloomberg in May that Japan’s recovery from three decades of deflation has reignited private sector interest in risk—and Africa, with its dynamic markets and youthful population, is now firmly in the spotlight. Japanese corporations are already making moves: Isuzu Motors South Africa, for example, is expanding its manufacturing footprint, aiming to boost its African manufacturing share to 45% (up from just 15% six years ago and now sitting at around 22-23%). Billy Tom, President and CEO of Isuzu Motors South Africa, confirmed ongoing negotiations with Japanese stakeholders about relocating even more production to Africa. This isn’t just about vehicles; it’s about building supply chains, creating jobs, and fostering local expertise.
But why now? The answer, in part, lies in the increasingly crowded and competitive geopolitical landscape. With China’s Belt and Road Initiative and renewed Western interest in Africa, Tokyo is keen to show it can match words with resources. According to The Diplomat, Japan’s net external assets reached record highs in 2024, providing both the capital and capacity to scale up its African ambitions. Despite Africa accounting for just 0.5% of Japan’s global foreign direct investment, the government believes it can turn the tide by encouraging more private sector involvement and lowering the risk for Japanese firms through new public-private financing tools.
At the core of TICAD 9 is Japan’s push for what it calls “quality growth”—projects that deliver long-term social and economic benefits rather than just rapid infrastructure expansion. This means investments in health systems, education, local manufacturing, and environmental stewardship. The summit is also placing youth and innovation front and center, with Africa set to host a third of the world’s youth by 2050. Japan sees tremendous opportunity in co-developing the future of digital health, agriculture, fintech, and clean energy. New programs connecting African and Japanese startups are being launched, with a special focus on women’s empowerment, vocational training, and digital inclusion.
Japan’s approach stands out for its deliberate avoidance of political interference, a stance that has earned it credibility among African governments wary of aid with geopolitical strings attached. Instead, Tokyo is aligning itself with the African Union’s Agenda 2063, supporting broad, thematic partnerships that aim for regional impact rather than transactional, country-specific deals. This model, dubbed “partnered engagement,” may prove crucial as Africa seeks to build resilience and autonomy in the face of global competition.
Resource security is another driving force behind Japan’s renewed focus. In the past year, Japanese officials have signed major agreements in Angola, Namibia, and the Democratic Republic of the Congo, including a $1 billion commitment to mineral exploration and production. The summit is also exploring joint opportunities in green hydrogen and ammonia as alternative energy sources for both Africa and Japan. Japanese companies are increasingly interested in environmental technologies, from waste management to climate resilience, viewing Africa as both a partner and a testing ground for new solutions.
Financial ties are deepening as well. Côte d’Ivoire recently issued a 50 billion yen Samurai bond—the first by a sub-Saharan African country—guaranteed by the Japan Bank for International Cooperation (JBIC). The proceeds will fund climate adaptation and development initiatives, marking a new chapter in African access to Japanese capital markets. Tokyo is also expanding its network of bilateral investment treaties to provide greater legal certainty for Japanese investors, a move that could unlock significant new flows of capital and trade, especially as Africa implements the African Continental Free Trade Area.
Japan’s support for African-led peacebuilding initiatives is another pillar of its strategy. Rather than engaging in military intervention, Tokyo invests in the root causes of instability—poverty, unemployment, and environmental degradation. Through cooperation with the African Union and regional bodies, Japan is backing development-based pathways to peace. This approach has seen Japan support U.N. peacekeeping operations in South Sudan, Mozambique, and the DRC, offering engineering, technical, and logistical assistance.
Health remains a central theme at TICAD 9, with agencies like JICA, NEXI, and JBIC aligning their efforts with the African Development Bank’s “High 5” development goals. The summit features side events on clean energy, digital inclusion, agriculture, health, and education, reflecting the broad scope of Japan’s ambitions.
It’s worth noting that at TICAD 8 in 2022, Tokyo pledged $30 billion in investment by 2025. By 2023, $1.5 billion had already been deployed through the Enhanced Private Sector Assistance for Africa (EPSA 5) program, a collaboration with the African Development Bank. The new $1.5 billion impact investing initiative, announced on August 19, 2025, builds on this momentum, underscoring Japan’s intent to be a lasting, strategic partner to Africa in an era defined by multipolar competition.
Ultimately, TICAD 9 isn’t just another development summit. It’s a declaration that Japan is ready to play for the long haul—investing in Africa’s future while advancing its own economic and strategic interests. Whether Africa reciprocates this vision remains to be seen, but in Yokohama this August, the groundwork for a new era of cooperation is being laid.
