France has announced a €23 billion investment initiative targeting Africa, unveiled by President Emmanuel Macron at the Africa Forward Franco-African Business Forum in Nairobi. The two-day summit brought together African heads of state and business leaders as Paris seeks to revitalise and reframe its economic ties with the continent amid past tensions with former colonies.
The package comprises €14 billion from French public and private entities, spanning major corporations, mid-sized firms, and SMEs, alongside €9 billion mobilised from African investors. Funds will channel into priority areas such as energy transition, digital technology and artificial intelligence, the maritime economy, and agriculture, with projects planned across Kenya and other represented nations.
Macron highlighted the tangible outcomes of this mobilisation, stating it would generate over 250,000 direct jobs in both France and Africa. He praised participating leaders and businesses for their commitment to fostering growth through these investments. The Africa Forward summit forms part of France’s strategic push to deepen partnerships via concrete economic collaboration and private-sector led development across the continent.