By Favour Ulebor
French President Emmanuel Macron has announced a €23 billion (about $27 billion) investment package targeting Africa’s energy, agriculture, digital technology, industry and maritime sectors, as France seeks to strengthen its economic presence on the continent.
The announcement was made at the Africa Forward Summit in Nairobi, Kenya, where leaders, investors and business executives gathered to discuss new partnerships between Africa and France amid growing global competition for influence in the region.
Macron said the investment plan combines about €14 billion from French public and private institutions with around €9 billion from African investors. He said the initiative could create up to 250,000 direct jobs across Africa and France.
He also said the programme is aimed at shifting relations from aid to investment, and encouraged African business leaders to also invest in France as part of a two way economic partnership.
The French leader used the summit to position Europe as a stable partner for Africa, while criticising China’s role in critical mineral supply chains, describing its approach as a “predatory logic” that creates global dependency.
He also restated France’s position on its military presence in the Sahel, saying French forces withdrew after coups removed governments that had hosted them, and insisted the move was a response to changing political conditions rather than defeat.
Macron also said former colonial powers should not be solely blamed for Africa’s current challenges, urging stronger governance and economic management on the continent.
He added that the return of African cultural artefacts taken during the colonial era was now “unstoppable” following new French legislation allowing repatriation.
The summit also featured a wide range of investment commitments presented in an official document, showing billions of euros flowing into sectors such as agriculture, energy transition, digital economy, healthcare, banking and industry.
In agriculture, funding targets food security, irrigation, agro-processing and climate-resilient farming systems across several African countries. In the blue economy, investments focus on ports, fisheries and maritime logistics, including major upgrades in Kenya, Nigeria, Egypt and Morocco.
The digital economy and artificial intelligence sector recorded multi-billion euro commitments, including projects to expand fibre optic networks, satellite connectivity, data centres and digital training centres across Africa.
In healthcare, funding will support hospital construction, vaccine production, pharmaceutical development and improved access to medical services in countries including Guinea, Kenya and South Africa.
The energy transition sector also attracted large investments in solar, wind, hydro and hydrogen projects aimed at boosting electricity supply and expanding renewable energy access across Africa.
The summit, co-hosted with Kenya, ended with renewed commitments to deepen economic cooperation between Africa and France, with a focus on investment, innovation, trade and sustainable development.
