Macron Rolls out €23bn Investment Plan to Strengthen Africa Partnerships
French President Emmanuel Macron has announced a €23 billion (about $27 billion) investment package targeting Africa’s energy, agriculture, digital technology, industry and maritime sectors, as France seeks to strengthen its economic presence on the continent.
The announcement was made at the Africa Forward Summit in Nairobi, Kenya, where leaders, investors and business executives gathered to discuss new partnerships between Africa and France amid growing global competition for influence in the region.Macron said the investment plan combines about €14 billion from French public and private institutions with around €9 billion from African investors. He said the initiative could create up to 250,000 direct jobs across Africa and France.
He also said the programme is aimed at shifting relations from aid to investment, and encouraged African business leaders to also invest in France as part of a two way economic partnership.The French leader used the summit to position Europe as a stable partner for Africa, while criticising China’s role in critical mineral supply chains, describing its approach as a “predatory logic” that creates global dependency.