"Macron said on Monday that Africa and France had a partnership of equals with common objectives, as he announced 14 billion euros ($16.4bn) of investments in private and public funds from French companies, and 9 billion euros ($10.5bn) from African ones, on energy transition, agriculture and artificial intelligence (AI). The investments would create 250,000 jobs in France and Africa, Macron said at the two-day summit France's first in an English-speaking African country which started on Monday."
"We are not simply here to come and invest on the African continent alongside you we need great African business leaders to come and invest in France, he told the heads of state and leaders of more than 30 African nations, including Francophone countries, at Nairobi's convention centre. And that too is what underpins this relationship, now entirely free of hang-ups, Macron said."
"The summit is seen as an attempt by France to strengthen its ties with English-speaking African countries amid waning ties with its former colonies on the continent. Africa's richest man, Nigerian industrialist Aliko Dangote, was in attendance, as were executives from leading French firms TotalEnergies and Orange. The French shipping group CMA CGM committed an investment of 700 million euros ($8.2m) to modernise a terminal at the Kenyan port of Mombasa."
"Many have observed that the summit comes as France's influence in Africa has faded, with French forces recently forced to withdraw from former colonies. Macron aims to renew France's engagement with the African continent, which he said he views as a whole, while positioning Europe as a more reliable trade partner than China or the United States."
The Africa Forward summit in Kenya features France’s effort to strengthen ties with African nations as France’s influence in former colonies fades. French President Emmanuel Macron announced €23 billion in investments, including €14 billion from French companies and €9 billion from African ones, focused on energy transition, agriculture, and artificial intelligence. The investments are expected to create 250,000 jobs in France and Africa. Macron emphasized equal partnership and called for African business leaders to invest in France. The summit includes leaders from more than 30 African nations, with participation from figures such as Aliko Dangote and executives from TotalEnergies and Orange. CMA CGM committed €700 million to modernize the Mombasa port terminal.
#france-africa-relations #foreign-investment #energy-transition #agriculture #artificial-intelligence
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