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Macron Announces €23bn Investment Drive at Africa Summit in Kenya

French President Emmanuel Macron has announced a massive €23 billion investment package aimed at boosting economic growth, innovation, and infrastructure development across Africa during the Africa Forward Summit held in Nairobi, Kenya.

The summit, co-hosted by France and Kenya, brought together more than 30 African leaders, business executives, and international financial institutions to strengthen partnerships between Africa and Europe. Macron revealed that €14 billion would come from French public and private investors, while African companies would contribute €9 billion.

According to Macron, the investment initiative will focus on key sectors including clean energy, artificial intelligence, digital technology, agriculture, healthcare, and the blue economy. French shipping giant CMA CGM also pledged €700 million to modernize terminals at the Port of Mombasa in Kenya.

Speaking at the summit, Macron stressed that Africa and Europe must build “equal partnerships” based on mutual growth and shared interests rather than dependency. He added that Africa’s future is central to global economic stability and innovation.

Kenyan President William Ruto welcomed the investment commitments, describing the summit as a turning point for Africa-France relations. African leaders also used the gathering to demand fairer global financial systems and improved access to investment funding for African economies.

The Nairobi summit marks the first major France-Africa summit hosted in an English-speaking African nation, signaling France’s attempt to rebuild influence across the continent after diplomatic setbacks in several former French colonies in West Africa.