French President Macron Announces $27 Billion Investment in Africa at Kenya Summit
Theo Al Jazeera English
French President Emmanuel Macron announced a €23 billion ($27 billion) investment package to foster equal partnership with Africa, as France's influence in its former colonies wanes. The summit, held in Nairobi, Kenya, focused on energy transition, agriculture, and AI, aiming to create 250,000 jobs. Macron also addressed the return of looted artworks and called for improved governance in Africa.
At the two-day Africa Forward summit in Nairobi, Kenya, French President Emmanuel Macron announced a €23 billion ($27 billion) investment package, including €14 billion ($16.4 billion) from French public and private funds and €9 billion ($10.5 billion) from African sources, focusing on energy transition, agriculture, and artificial intelligence (AI).
Speaking at the summit, Macron affirmed that France and Africa share an "equal partnership" with common goals. He said the investments would create 250,000 jobs in both France and Africa. "We are not just here to invest in the African continent with you – we need big African business leaders to come and invest in France," he told leaders from over 30 African nations, including French-speaking countries, at the Nairobi conference center.
The summit took place amid deteriorating ties between France and its former African colonies, where French forces have recently been forced to withdraw from several countries. This marked the first time France has held an Africa summit in an English-speaking country, seen as an effort by Paris to strengthen ties with English-speaking African nations. Macron aims to reboot France's relationship with Africa, which he views as a "single entity," while positioning Europe as a more reliable trade partner than China or the United States.
In an earlier interview with The Africa Report, Macron argued that colonialism cannot be blamed for all of Africa's challenges. "We cannot absolve responsibility for seven decades after independence," he said, calling on African leaders to improve governance.
During the summit, Macron also declared that the process of returning looted African artworks from the colonial era has become "unstoppable." Last week, the French parliament approved a law paving the way for the return of looted cultural artifacts.
French shipping group CMA CGM committed €700 million ($8.2 million) to modernize a terminal at Kenya's Mombasa port. Kenya is emerging as a destination for international military forces, contrasting with the trend of reducing or expelling foreign troops in many African nations, particularly the Sahel region. A month before the summit, about 800 French soldiers arrived in Kenya aboard a navy vessel.
Kenyan President William Ruto praised the relationship with France, saying: "We should no longer think about aid and loans, but about investment and what Africa can offer."
