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Politics

Japan's trade insurance to cover full African investment

Government pushes infrastructure exports as China races ahead

China has been aggressively investing in African infrastructure projects, including Kenya's Northern Corridor railway project.   © Reuters

TOKYO -- The Japanese government will create trade insurance that will fully cover infrastructure-related exports and loans to Africa, hoping to encourage companies here to make further inroads into a region considered the last frontier of the global economy.

Coverage will be provided through a partnership between the government-owned Nippon Export and Investment Insurance, or NEXI; the Kenya-based African Trade Insurance Agency; and the Saudi Arabia-based Islamic Development Bank. Hiroshige Seko, minister of economy, trade and industry, will make an official announcement as early as May 9.

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