Macron unveils $27bn investment plan at Africa Forward summit in Kenya
Emmanuel Macron has announced €23 billion ($27bn) in investments during the Africa Forward summit held in Kenya, as France seeks to strengthen its economic and political ties with African nations.
Macron said Africa and France were now engaged in a “partnership of equals” with shared goals. He announced €14 billion ($16.4bn) in investments from French public and private companies and €9 billion ($10.5bn) from African partners, focused on energy transition, agriculture and artificial intelligence. According to him, the projects are expected to create around 250,000 jobs across France and Africa,
News.Az reports, citing
Al Jazeera.
The summit, held in Nairobi and attended by leaders from more than 30 African countries, including Francophone states, marks France’s first major economic forum hosted in an English-speaking African country. Macron told participants that the relationship between France and Africa should be based on mutual investment rather than aid.
He said African business leaders should also invest in France, describing the new economic approach as “free of hang-ups” and based on balanced cooperation.
Among those present were Nigerian billionaire Aliko Dangote and executives from major French companies including TotalEnergies, Orange and shipping group CMA CGM, which announced a €700 million investment to modernise a terminal at the port of Mombasa.
The summit comes as France’s influence in Africa has declined, with French military forces recently withdrawing from several former colonies. Macron has been seeking to reposition France as a long-term economic partner while also strengthening Europe’s role in Africa compared to China and the United States.
In comments ahead of the summit, Macron said colonial history should no longer be used to explain all of Africa’s challenges and urged African leaders to focus on governance reforms.
He also said the return of African cultural artefacts taken during the colonial period had become “unstoppable,” following a recent French parliamentary law enabling the restitution of looted artworks.
The summit is taking place as some African countries reduce foreign military presence, while Kenya continues to host international forces. Around 800 French soldiers arrived in Kenya on a naval vessel shortly before the event.
Kenyan President William Ruto welcomed the partnership with France, saying future relations should focus on investment and Africa’s economic potential rather than aid or loans.
News.Az
By Leyla Şirinova
