Emmanuel Macron has announced 23 billion euros ($27 billion) in investment commitments for Africa during the Africa Forward summit in Kenya.
The announcement comes as France attempts to strengthen economic ties with English-speaking African nations amid declining influence in several former colonies.
Speaking at the two-day Africa Forward summit in Nairobi, Emmanuel Macron said the investments would focus on energy transition, agriculture, and artificial intelligence (AI).
According to Macron, 14 billion euros ($16.4 billion) will come from French public and private sector companies, while African investors will contribute another 9 billion euros ($10.5 billion).
The French president said the investments are expected to create around 250,000 jobs across Africa and France.
“We are not simply here to come and invest on the African continent alongside you – we need great African business leaders to come and invest in France,” Macron told leaders attending the summit.
He described the relationship between Africa and France as a “partnership of equals” built around shared goals and economic cooperation.
Summit signals shift in France’s Africa strategy
The Africa Forward summit marks the first major France-Africa summit hosted in an English-speaking African country.
Analysts view the event as part of France’s broader effort to rebuild its position on the continent as relations with several former French colonies continue to weaken.
In recent years, French military forces have been forced to withdraw from multiple African countries, particularly in the Sahel region, amid rising anti-French sentiment and changing geopolitical alliances.
Macron said France now views Africa “as a whole” and suggested Europe could become a more reliable trade partner for African countries than either China or the United States.
The summit brought together heads of state and leaders from more than 30 African nations, including several Francophone countries.
Among the high-profile attendees was Aliko Dangote, Africa’s richest businessman, alongside executives from major French firms including TotalEnergies and Orange.
The gathering focused heavily on trade, investment, and economic cooperation rather than traditional aid models.
Macron addresses colonial legacy
Ahead of the summit, Macron told The Africa Report magazine that colonialism should not be blamed for all of Africa’s current problems.
“We must not exonerate from all responsibility the seven decades that followed independence,” he said, while urging African governments to improve governance and accountability.
The French leader also addressed the issue of returning African cultural artefacts looted during the colonial era.
He said the process had become “unstoppable” after the French parliament recently passed legislation allowing the return of looted African artworks.
At a time when several African nations are reducing foreign military partnerships, Kenya is strengthening international cooperation.
Just weeks before the summit, around 800 French soldiers reportedly arrived in Kenya aboard a navy vessel.
William Ruto welcomed deeper economic cooperation with France and emphasized the importance of 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.
