Japan is watching Turkey's advance into Africa closely, hoping to find ways for the two countries to combine their strengths and gain leverage. Japan Bank for International Cooperation (JBIC) opened a regional office in Istanbul last year, with a not-so discreet mandate to seek Turkish cooperation in Africa, countering Chinese influence.
"We will show more effort to further develop cooperation between Turkish and Japanese companies in Africa where Turkish companies already have a strong presence," said Suzuki Ryuta, the bank's Istanbul chief representative.
Steelmaker Tosyali Holding, which has a $650 million joint venture with Japanese steel giant Toyo Kohan in Turkey, is the largest Turkish investor in Africa.
In Angola, Tosyali signed an agreement with the government to redevelop the Cassinga mine in the country's south. Iron ore extracted from Cassinga will be exported via a terminal being developed by Toyota Tsusho and financed by JBIC and Nippon Export and Investment Insurance.
Turkey's Calik Energy, in which Japanese trading house Mitsubishi Corporation has a stake, has recently completed expanding a small hydropower plant in Malawi with financing from Japan International Cooperation Agency.