France has unveiled a $27 billion investment plan aimed at boosting clean energy, digital technology, artificial intelligence, maritime industries, and agriculture across African countries.
President Emmanuel Macron announced the initiative during the Africa Forward summit held in Nairobi, describing it as a new phase of economic cooperation between France and African nations.
According to Macron, the funding will come from a mix of French public and private institutions as well as African investors. He said the programme is projected to create about 250,000 direct jobs across both regions.
The summit attracted several African leaders and business figures, including Nigeria’s President Bola Tinubu and industrialist Aliko Dangote. It is the first time France has hosted such a high-level Africa-focused meeting in an English-speaking African country.
Macron urged African business leaders to also consider investing in France, stressing that the relationship should be built on shared economic interests rather than historical grievances. He noted that decades after independence, African countries must also confront governance and development challenges internally.
The French leader also referenced ongoing efforts to return African cultural artefacts taken during the colonial era, following recent legislative steps in France that make restitution easier.
France’s renewed outreach comes amid efforts to rebuild influence in parts of Africa where it has recently lost ground, particularly in the Sahel and West Africa. Macron positioned Europe as a dependable partner for Africa in trade, technology, and strategic development, especially at a time when many African countries are deepening ties with China and the United States.
He said Africa and Europe must collaborate to build technological independence, particularly in emerging areas such as artificial intelligence, rather than relying heavily on external powers.
Kenya’s President William Ruto is expected to attend the upcoming G7 summit in France, where he plans to push for improved global financing access for African nations.
