Economy

Japan Pledges $20 billion (Ksh2 trillion) in Private Investment to Africa

Japan has pledged $20 Billion in Private Investment to Africa during the 7th summit of the Tokyo International Conference on African Development (TICAD) held in Yokohama from 28th to 30th August 2019.

The Asian country plans to achieve this by developing quality infrastructure, supporting agriculture, industry diversification, and advancing education and universal healthcare.

In a bid to ensure none of its projects would increase the debt of recipient countries to unsustainable levels, Japan will implement its initiatives based on the development model that places people at the core. This will also go a long way in ensuring local human resources are utilised.

The TICAD VII conference was attended by participants from more than 50 member states of the African Union, including Kenya, which was represented by a delegation led by President Uhuru Kenyatta.

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