French President Emmanuel Macron has unveiled a major €23 billion investment package for Africa during the Africa Forward Summit held in Nairobi, Kenya, signaling a renewed push by France to strengthen its economic and diplomatic ties with the continent.
The announcement was made on Monday at the opening of the two-day summit, which brought together dozens of African heads of state, policymakers, and business leaders to discuss the continent’s economic future, innovation opportunities, and investment partnerships.
According to Macron, the €23 billion package, equivalent to approximately $27 billion, will target strategic sectors critical to Africa’s growth and long-term sustainability. The investment includes €14 billion from French public and private institutions, while an additional €9 billion will come from African investors, reflecting what Macron described as a more balanced economic relationship between both regions.
The funding is expected to focus on sectors such as energy transition, digital technology, artificial intelligence, maritime development, and agriculture. Macron said the initiative could generate up to 250,000 direct jobs across Africa and France, boosting employment while deepening cross-continental collaboration.
Speaking before delegates at Nairobi’s convention centre, the French leader emphasized that the partnership should not be viewed as one-sided.
Macron noted that France is not only seeking to invest in Africa, but also encouraging African entrepreneurs and major business leaders to expand their investments into France. According to him, this mutual economic exchange represents a new phase in France-Africa relations, one built on equal partnership and modern cooperation.
The Africa Forward Summit comes at a time when France is working to rebuild and redefine its relationship with African nations after years of strained diplomatic ties, particularly with several former French colonies where anti-French sentiment has grown in recent years.
Ahead of the summit, Macron also sparked debate during an interview with The Africa Report, where he argued that colonialism should no longer be used as the sole explanation for Africa’s current challenges.
He stated that while colonial history remains significant, African nations must also take responsibility for governance and development decisions made in the decades following independence.
Macron added that European colonial powers should not be viewed as the primary “predators” shaping Africa’s modern economic realities, comments likely to generate mixed reactions across political and academic circles.
Beyond economic partnerships, the French president also addressed the issue of cultural restitution. During his summit speech, Macron declared that the return of African artworks looted during the colonial era has become an irreversible process.
His remarks come shortly after the French parliament passed legislation authorizing the return of looted African cultural artefacts currently held in French institutions, marking another step in France’s attempt to address longstanding historical grievances.
The summit in Nairobi highlights France’s evolving strategy toward Africa, with greater emphasis on investment, innovation, and diplomatic reset.
As global powers increasingly compete for influence on the continent, Macron’s €23 billion pledge is expected to position France more aggressively in Africa’s fast-growing markets while attempting to repair and modernize a relationship long shaped by history.
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