French President Emmanuel Macron used the opening day of the Africa Forward summit in Nairobi on Monday to unveil a €23 billion ($27 billion) investment package for the continent. The announcement, made at the Kenya‑hosted two‑day gathering of African heads of state and business leaders, marks the most significant French financial commitment to Africa since the country’s colonial era.
The €23 billion tranche is split between €14 billion in public and private French funds and €9 billion pledged by African investors. The money will be directed toward projects in the energy transition, digital technologies and artificial intelligence, the maritime economy and agriculture. Macron said the plan could generate up to 250 000 direct jobs across France and Africa.
In his remarks, the French leader stressed the reciprocal nature of the partnership. “We are not simply here to invest in Africa; we need great African business leaders to invest in France,” he told the audience at the Nairobi convention centre. He added that this two‑way exchange underpins a relationship now “free of hang‑ups”.
Ahead of the summit, Macron told The Africa Report that colonial history should no longer be used as a blanket explanation for Africa’s challenges. While acknowledging the responsibility of the past seven decades after independence, he called on African leaders to improve governance and said Europe’s former colonial powers are “not the predators of this century”.
The summit also provided a platform for France to reaffirm its stance on the restitution of African cultural artefacts looted during the colonial era. Macron announced that the process of returning such artworks had become “unstoppable” following the passage of a French parliamentary law last week that facilitates the repatriation of looted items.
Macron positioned Europe as a reliable trade partner, contrasting it with China and the United States. He warned that Chinese companies pursue a “predatory logic” by processing critical minerals and rare earths domestically, creating dependencies for the rest of the world. The French president called for an overhaul of international finance to create guarantees that would attract private investment into Africa, a continent he described as “full of energy and youth”.
France’s ties with its former colonies have been strained in recent years, especially after the withdrawal of French troops from Mali, Burkina Faso and Niger following coups between 2020 and 2023. Macron defended the previous military presence, noting it had been requested to combat jihadist threats, and said the pull‑out was a logical response to changing political realities rather than a humiliation. He expressed optimism that the Sahel will eventually return to stable, democratically elected governance.
The €23 billion pledge, coupled with broader diplomatic overtures, signals a renewed French effort to re‑engage with Africa on economic and cultural grounds. Observers will watch closely how the announced funds translate into projects on the ground and whether the promised reciprocal investments materialise, potentially reshaping France’s role on the continent in the years ahead.
