President Macron announces €23bn investment at Africa summit
French President Emmanuel Macron has announced €23 billion ($27 billion) in investment commitments for Africa during the “Africa Forward” summit held in Nairobi, marking a major push to reset France’s economic and political ties with the continent.
The investment package combines €14 billion from French public and private sources with an additional €9 billion from African investors, reflecting what Macron described as a “joint mobilisation” between the two regions.
The funds are expected to target key growth sectors, including:
Clean and renewable energy, digital technology and artificial intelligence, maritime (“blue”) economy, agriculture and health.
According to French officials, the investments could generate over 250,000 direct jobs across Africa and France.
The summit, hosted in Kenya, is notable as the first France-Africa summit held in a non-Francophone country, signaling a shift in Paris’ approach toward broader partnerships beyond its traditional sphere of influence.
Macron emphasized moving away from aid-based relationships toward investment-driven cooperation, stating that Africa “needs investment more than public aid.”
The announcement comes as France seeks to rebuild its presence in Africa after declining influence in parts of West Africa, where military governments have distanced themselves from Paris.
Leaders at the summit also called for reforms to global financial systems, arguing that Africa is often unfairly labeled as high-risk, which limits investment flows.
The €23 billion pledge represents one of the largest recent investment commitments linking European and African partners, and underscores France’s effort to reposition itself as a long-term economic partner in a rapidly changing geopolitical landscape.
