French President Emmanuel Macron has announced a €23 billion (Sh3.5 trillion) investment package for Africa during the inaugural Africa Forward Summit held in Nairobi.
The summit, co-hosted by William Ruto and Macron, brought together more than 30 African heads of state, business leaders and investors to discuss trade, industrialisation, climate financing and innovation.
Macron said the investments would focus on clean energy, agriculture, artificial intelligence, digital infrastructure and maritime development, describing the initiative as a “partnership of equals” between Africa and France.
According to the French leader, €14 billion will come from French public and private entities while €9 billion will be mobilised from African investors and institutions. He said the programme is expected to create thousands of jobs across both continents.
Speaking at the summit, President Ruto called for a shift from aid dependency to investment-driven partnerships, saying Africa should be viewed as a strategic economic partner rather than a recipient of assistance.
Among leaders attending the summit were Paul Kagame and Bola Tinubu, who pushed for green industrialisation, fairer global financing systems and increased trade opportunities for African economies.
The summit also focused on reforms to global financial institutions, with African leaders urging changes to international credit rating systems that they said unfairly raise borrowing costs for African countries.
Despite the strong economic agenda, the meeting experienced moments of tension after Macron publicly rebuked delegates engaged in side conversations during one of the sessions. Outside the venue, a small group of protesters criticised France’s historical influence in Africa and accused Western nations of pursuing economic interests under the guise of partnership.
The Nairobi summit marked the first time France hosted a major Africa-France summit in an English-speaking African country, reflecting Paris’ efforts to strengthen ties beyond its traditional francophone allies amid growing competition from China, the United States and other global players.
Leaders are expected to conclude the summit with a joint declaration outlining commitments on investment, climate action, technology transfer and economic cooperation between Africa and France.
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