Nairobi, Kenya — French President Emmanuel Macron has unveiled a €23 billion investment commitment for Africa during the Africa-France Summit, held in Nairobi, Kenya.
The investment package, consisting of €14 billion from French entities and €9 billion from African investors, is aimed at rejuvenating economic ties and fostering collaboration between the two regions.
The summit, co — hosted by Kenyan President William Ruto and Macron, marks a strategic shift for France in its engagement with Africa, particularly in light of strained relations with some West African countries, notably in the Sahel region.
The summit’s agenda includes discussions on peace and security, among other critical issues. Macron’s investment focus includes energy transition, digital technology and AI, the maritime economy, and agriculture, sectors identified as key to Africa’s development.
The president anticipates that these investments will create 250,000 direct jobs across France and Africa. Addressing the summit at the Nairobi Convention Centre, Macron emphasized the importance of a “partnership of equals “and encouraged African business leaders to invest in France, signaling a new approach to France’s African relations. Kenya Investment Authority CEO John Mwendwa echoed Macron’s sentiments, urging French investors to build value on the continent and strengthen supply chains, emphasizing the need for sustainable business practices.
The summit’s agenda also encompasses energy transition, green industrialization, the reform of the international financial architecture, the blue economy, sustainable agriculture, AI and digital technologies, resilient health systems, peace, and security.
As the summit concludes, the Nairobi Declaration is expected to outline the commitments made and the path forward for France and Africa’s economic and strategic partnership.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: Panafricanvisions
Source: Pan African Visions
