Japanese investors spearheaded the recent surge, the firm said, with project finance from the country increasing by 576% over the past five years. Japan is now the most active Asian project finance sponsor in Africa, according to Linklaters' figures, responsible for $3.54bn last year alone. Morocco and Nigeria have emerged as priority countries.
The level of project finance funds for Africa coming from Asian investors increased by 160% over the last decade, according to research by law firm Linklaters.
"Contrary to popular belief about China dominating Asian investments in...