African leaders pitched Monday for more trade and investment from Asia, saying they were pushing through economic and political reforms that will open up business opportunities in the continent.

Nigerian President Olusegun Obasanjo, speaking as chairman of the African Union, told the opening of the two-day conference in Tokyo that the continent of more than 750 million people was rich with resources for Asian investors.

"With on-going reforms in Africa, the continent represents a very fertile and rewarding ground for investment," Obasanjo told the conference called to spur trade and investment between the two regions.

Obasanjo is one of the main leaders of the New Partnership for African Development, a plan put forward with South Africa and other African countries to promote economic and political reform, in return for investment by developed countries.

However, the Nigerian president said work was still needed at a government level to underpin business confidence.

"Friendly governments have to give a helping hand to their private sectors to gain confidence for investment," Obasanjo said, calling for the creation of a Japan/Africa Trade Investment Centre and a new guarantee agency to underwrite Asian investment in Africa.

"Trade and private sector investment from Asia will assist in boosting economic growth on the African continent," Obasanjo said.

Kenyan President Mwai Kibaki said Africa had major opportunities for investment in infrastructure, as the continent was rapidly urbanizing and improving its power supply, ports and railways.

"There is now great potential for new investments in Africa. We welcome investors from this region to come and invest," Kibaki said.

"Over the last decade, Africa's great potential for attracting investment has been hampered by political instability and insecurity in some countries. However, this situation is changing rapidly," he stressed.