Blazing a path forward for other multinationals, Mitsubishi Corp. is investing about $50 million with BBOXX Limited — a company that provides clean and affordable energy solutions to the continent of Africa. It delivers solar panels and battery storage to homes on a pay-as-you-go method.
Indeed, Japan is getting increasingly involved in Africa’s energy sector and according to its prime minister, Shinzo Abe, the private sector there will invest $20 billion over the next three years. According to Japan’s Foreign Ministry, there were 75,531 Japanese corporate offices overseas as of October 2017. Of those, 796, or roughly just 1%, were located in Africa. So Abe’s pledge is major step forward — one that commits support to Africa’s emerging economies.