The 51 African heads of state that attended last month's Fifth Tokyo International Conference on African Development (TICAD V) in Japan, once again gave testament to the fact that Africa is seen globally as the current place of choice for investors. TICAD V ended with the adoption of the Yokohama Declaration 2013 and the Yokohama Action Plan 2013-17, designed to charter the course for Japan-Africa partnership and Africa's growth, which Prime Minister Shinzo Abe said was aimed at the next 50 years.

The push for global investment in Africa is not a new one, but it is certainly one that has been accelerated by China's rise to become Africa's largest trading partner. When the Forum on China-Africa Cooperation (FOCAC) was established in October 2000, it was designed to be the vehicle that strengthens China's relationship with Africa, despite some Western countries' negative reports that FOCAC is a disguise to "recolonize" the continent.

Africa's development can only be achieved through more international investment to help build infrastructure, human resource development and economic diversification, all of which would significantly contribute to the eradication of continental poverty. In line with this, Chinese investment is directly aimed at these areas and its contribution is firmly based on a mutual partnership and not a colonial master-servant approach.

The current trend of South-South exchange is also a clear signal that emerging economies in Asia and the Middle East are driving the demand for commodities. According to McKinsey's, Africa's centuries old trade ties with European markets shrank, to 28 percent, from 51 percent from 1990 to 2008, while in the same period Asia's trade ties doubled to 28 percent.

Knowing they have something to offer, the global demand for commodities also gives African governments' more bargaining power. This means they can use their resources to negotiate better deals and with the IMF projecting economic growth south of the Sahara surging to 6.1 percent in 2014, well ahead of the global average of 4 percent, Africa is a good place to be investing in right now. Foreign direct investment (FDI) proves this to be true as an Ernst & Young survey notes that Africa's share of worldwide FDI is rising, hitting 5.6 percent in 2012, up from 3.2 percent five years earlier. Interestingly, an increase in FDI is coming from African countries themselves as they realize investing in their own space is critical for development.

While Africa's resource sectors still draw the largest slice of new foreign investment, it must be noted that this capital is now also flowing into tourism, textiles, banking, and telecommunications, all sectors that create employment.

The Japanese efforts to invest in Africa are welcomed along with all other international investors, and China has always stated it stands ready, wherever possible, to work together with the international community to contribute to Africa's economic development.

THE EDITOR