Macron Announces €23 Billion Investment in Africa at Kenya Summit
The package includes €14 billion from French public and private funds and €9 billion from African investors, Macron said.
- On Monday, French President Emmanuel Macron and more than 30 African leaders opened the two-day Africa Forward summit in Nairobi aimed at diversifying partnerships and securing new investment deals.
- France seeks to renew engagement following years of strained ties, particularly after coups in Mali, Burkina Faso, and Niger expelled French troops from West Africa.
- Macron announced €23 billion in total investment, comprising €14 billion from French entities and €9 billion from African investors, aimed at creating 250,000 direct jobs across the continent.
- Urging African leaders to invest in France, Macron described the relationship as "entirely free of hang-ups," while French shipping group CMA CGM committed $823 million to modernize a Mombasa terminal.
- Kenya will attend the G7 summit next month in Evian-les-Bains, while Macron confirmed the restitution of looted African cultural artifacts is "unstoppable" alongside broader continental trade discussions.
26 Articles
26 Articles
Sapo
The French President, Emmanuel Macron, today announced EUR 23 billion in investments for Africa, of which EUR 14 billion are French funds, by closing the business forum of the Africa-France summit in Kenya. Specifically, the 14 billion of French funds include private investments, such as companies, foundations and investment funds, and projects developed by French development aid operators (AFD, Proparco and DG Trésor), according to the French P…
At the Africa Forward, France's President Macron announced investments in energy, digitalization and agriculture in Africa, thereby underpinning the resumption of Franco-African relations.
Africa needs investment instead of aid
The Africa-Forward summit is being held in an English-speaking country for the first time. This is a symbolic shift in France's policy towards Africa, which previously focused more heavily on French-speaking countries. Paris is presenting the new approach as a "partnership of equals." The primary emphasis will be on economic cooperation, investment, and joint development projects. President Emmanuel Macron announced that French companies are pla…
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