French President Emmanuel Macron has announced a €23 billion investment package during the Africa Forward Summit in Nairobi aimed at strengthening economic cooperation between France and African countries.
Speaking on Monday, May 11, Macron described the relationship between France and Africa as a “partnership of equals” built on shared goals and mutual investment opportunities.
According to him, the package includes €14 billion from French public and private sector investors and €9 billion from African investors. The funds are expected to support projects in energy transition, agriculture and artificial intelligence.
Macron stated that the investments are projected to create about 250,000 jobs across both Africa and France.
Addressing leaders from more than 30 African nations at the summit, the French President stressed that the relationship between Africa and France should move beyond traditional aid models toward stronger business and investment partnerships.
The summit, being held in Kenya, marks France’s first major Africa summit hosted in an English-speaking African country and is widely viewed as part of efforts to strengthen ties with anglophone African nations amid declining influence in some former French colonies.
Among the notable attendees was Aliko Dangote, alongside executives from TotalEnergies and Orange.
French shipping company CMA CGM also announced plans to invest €700 million in modernising a terminal at the Port of Mombasa in Kenya.
The summit comes at a time when France’s influence in parts of Africa has weakened, with French military forces recently withdrawing from some former colonies.
Ahead of the summit, Macron stated in an interview that colonialism alone should not be blamed for Africa’s current challenges and called on African leaders to improve governance and accountability.
He also indicated during the summit that the return of African cultural artefacts taken during the colonial era had become “unstoppable,” following the passage of a French law paving the way for the restitution of looted African artworks.
Meanwhile, William Ruto praised Kenya’s partnership with France and called for stronger investment-driven cooperation between Africa and international partners instead of dependence on aid and loans.
Source: citinews
