NAIROBI, Kenya — French President Emmanuel Macron announced a €23 billion ($27 billion) investment package for Africa during the Africa Forward Summit in Nairobi, positioning the initiative as a new chapter in economic cooperation between France and African nations.
Speaking at the two-day summit, Macron described the relationship between France and Africa as a “partnership of equals,” unveiling €14 billion ($16.4 billion) in investments from French public and private sector entities and €9 billion ($10.5 billion) from African investors.
The investments will focus on key sectors including energy transition, agriculture, and artificial intelligence.
According to Macron, the initiative is expected to generate approximately 250,000 jobs across both Africa and France.
“We are not simply here to invest in Africa,” Macron told heads of state and business leaders from more than 30 African countries. “We also need African business leaders to invest in France.”
The summit, hosted in Nairobi, marked France’s first major economic gathering in an English-speaking African country and comes as Paris seeks to redefine its engagement with the continent amid declining influence in several former French colonies.
Among the major investment commitments announced was a €700 million ($820 million) pledge by French shipping giant CMA CGM to modernize facilities at Kenya’s Port of Mombasa. Executives from major French companies, including TotalEnergies and Orange, also participated in the event.
North African Participation
Several North African countries were represented at the summit through high-level delegations.
Egypt was represented by President Abdel Fattah Al-Sisi, who participated in diplomatic sessions and held bilateral discussions focused on regional security and international cooperation.
Morocco was represented by Prime Minister Aziz Akhannouch, who addressed the summit and highlighted the importance of industrial integration and economic cooperation across North Africa.
Libya was represented by Mohamed Younis Bashir Al-Menfi, President of the Presidential Council, while Mauritania’s delegation was led by President Mohamed Ould Cheikh El Ghazouani.
Tunisia participated through a senior government delegation, including Sarra Zaafrani Zenzri, who took part in discussions on financing and investment opportunities across the continent.
France Seeks New African Partnerships
The summit comes at a time when France is seeking to strengthen relations with African countries beyond its traditional sphere of influence. Macron emphasized that Europe could serve as a reliable economic partner for Africa amid increasing global competition from China and the United States.
Kenyan President William Ruto welcomed the initiative, calling for a shift in Africa-Europe relations away from aid dependency and toward investment-driven partnerships.
“We should no longer think in terms of aid and loans, but rather in terms of investment and what Africa has to offer,” Ruto said.
Macron also highlighted France’s ongoing efforts to return African cultural artifacts taken during the colonial era, describing the process as “unstoppable” following recent legislative action by the French parliament.
The Africa Forward Summit is expected to serve as a platform for expanding trade, investment, and strategic cooperation between African economies and France in the coming years.
