France Pledges €23 Billion Investment In Africa At Nairobi Summit In Kenya

French President Emmanuel Macron on Tuesday announced billions of euros in new investments across Africa during the Africa Forward Summit held in Nairobi, as leaders from across the continent and Europe gathered to redefine future economic partnerships based on sovereignty, equality, and mutual benefit.

The summit, co-hosted by Kenya and France, brought together around 30 heads of state and government and focused heavily on reshaping Africa’s engagement with global powers. Macron said the new investment package, valued at 23 billion euros (approximately $27 billion), would be directed toward key sectors including energy, artificial intelligence, and agriculture, marking what he described as a shift away from traditional aid-based relationships.

According to Macron, the total investment framework includes 14 billion euros from French companies and an additional 9 billion euros from African partners. He emphasized that France’s new approach is centered on “co-investment” rather than assistance, stating that the era of one-sided aid relationships is coming to an end. He also said that sovereignty and autonomy would be central to France’s future engagement with African nations.

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Kenyan President William Ruto, who co-hosted the summit, echoed similar sentiments and repeatedly highlighted the importance of sovereignty in his address. He stressed that Africa’s future partnerships must be built on “sovereign equality” rather than dependency, and called for relationships grounded in mutual respect rather than aid, charity, or exploitation. Ruto’s remarks reflected a broader continental push for economic independence and stronger negotiating power in global affairs.

The summit also comes amid ongoing tensions between France and several of its former West African colonies, where criticism of Paris’ historical influence has intensified in recent years. Countries such as Mali, Niger, and Burkina Faso have previously accused France of maintaining an unequal and interventionist relationship under its former “Françafrique” policy, which included military presence and economic leverage. France has since withdrawn troops from several of these nations, including the completion of its withdrawal from Senegal earlier this year.

Macron acknowledged this shifting landscape, stating that France respects the independence of African nations and that “your success is our success.” He described the summit as a symbol of unity and a new chapter in Africa-Europe relations, adding that the future partnership would focus on shared growth rather than dependency. The summit is expected to conclude with a joint declaration signed by participating leaders, outlining the framework for future cooperation.

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