2nd May 2006 : During his visit to Ghana, Prime Minister Koizumi elaborated on the concept of the Prize in the joint press conference with President John Agyekun Kufuor following their meeting

 25th July 2006 : Prime Minister Koizumi officially announced the creation of the Prize on the occasion of the visit to Japan by Professor Alpha Oumar Konare, Chairperson of the Commission of the African Union

 28th July 2006 : Japanese Cabinet decision to institute the Prize

 6th October 2006 : Basic framework was endorsed at the meeting of heads of bureaus in government ministries in charge of the Prize

 21st December 2006 : Basic framework approved by the Council of Advisors

 2007 : Nomination and selection process to start

 2008 : 1st award ceremony to be held on the occasion of the Fourth Tokyo International Conference on African Development (TICAD IV) Source : Abe Cabinet, april 26, 2007