Emmanuel Macron Announces 23 Billion Euros Investment at Africa Forward Summit in Kenya

French President Emmanuel Macron announced 23 billion euros ($27bn) of investment during the Africa Forward summit in Kenya, describing a “partnership of equals” with common objectives.

“announced 23 billion euros ($27bn) of investment during the Africa Forward summit in Kenya”

Al Jazeera

Macron said the package would include 14 billion euros ($16.4bn) from French companies into private and public funds and 9 billion euros ($10.5bn) from African ones, targeting energy transition, agriculture and artificial intelligence (AI).

ABC News

The summit is France’s first in an English-speaking African country and started on Monday, with Macron telling heads of state and leaders of more than 30 African nations at Nairobi’s convention centre that “we need great African business leaders to come and invest in France.”

Kenyan President William Ruto praised the relationship with France, saying, “We should no longer think in terms of aid and loans, but rather in terms of investment and what Africa has to offer.”

The BBC said France is broadening its horizons by co-hosting a summit of African leaders in English-speaking Kenya for the first time, with Macron repeatedly speaking of “co-investment” and “equal footing partnerships.”

At the Africa Forward Summit in Nairobi on Tuesday, Macron announced investments worth $27bn (£20bn) in areas including energy transition, digital and AI, the maritime economy and agriculture, and he said this would create some 250,000 jobs in Africa and in France.

Al Jazeera

The BBC also quoted Kenya’s Foreign Minister Musalia Mudavadi calling the summit an “opportunity for Africa to start speaking as one,” and he said holding it in a non-French-speaking African country was “a very, very big message.”

Analyst Gilles Yabi, speaking on the BBC’s Newsday programme, said, “There's a new generation of Africans who… want to turn the page on colonialism and post-colonial influence.”

Beyond investment figures, the summit’s agenda includes security and economic partnership themes, with the Guardian saying more than 30 heads of state and government met in Nairobi for Africa Forward to discuss energy transition, peace and security and reform of the international financial architecture.

“More than 30 heads of state and government are meeting in Kenya’s capital, Nairobi”

The Guardian

The Guardian quoted Kenyan President William Ruto saying the gathering reflects a renewed and forward-looking partnership between Africa and France grounded in “mutual respect, shared responsibility, and a clear commitment to delivering tangible outcomes.”

France also tied the effort to its military posture, with the BBC reporting Macron defended France’s reduced military presence by saying French troops leaving “wasn't a humiliation but a logical response to a given situation.”

In parallel, CNBC Africa reported that deals worth more than $1 billion were announced on Sunday during a state visit between Macron and Ruto, including CMA CGM’s plan to invest 700 million euros ($823 million) to modernise a terminal at the Kenyan port of Mombasa.