Macron rolls out €23bn investment plan to strengthen Africa partnerships

By Favour Ulebor

French President Emmanuel Macron unveiled a €23 billion (approximately $27 billion) investment package aimed at Africa’s energy, agriculture, digital technology, industry and maritime sectors. The move is part of France’s effort to deepen its economic footprint on the continent.

The announcement took place at the Africa Forward Summit in Nairobi, Kenya, where African leaders, investors and business executives convened to explore new partnerships amid increasing global competition for influence in Africa.

Macron explained that the plan will combine roughly €14 billion from French public and private institutions with about €9 billion from African investors. He said the initiative could generate up to 250,000 direct jobs across both Africa and France.

He also emphasized that the programme seeks to shift the relationship from aid to investment and urged African business leaders to invest in France as part of a reciprocal economic partnership.

During the summit, Macron positioned Europe as a stable partner for Africa while criticizing China’s role in critical mineral supply chains, labeling its approach a “predatory logic” that fosters global dependency.

He reiterated France’s stance on its military presence in the Sahel, noting that French forces withdrew after coups ousted governments that had hosted them. Macron said the withdrawal reflected changing political conditions rather than a defeat.

Macron called on former colonial powers not to bear sole responsibility for Africa’s current challenges, stressing the need for stronger governance and economic management on the continent.

He added that the return of African cultural artefacts taken during the colonial era is now “unstoppable” following new French legislation that permits repatriation.

The summit produced a comprehensive document outlining billions of euros earmarked for sectors such as agriculture, energy transition, digital economy, healthcare, banking and industry.

In agriculture, funding targets food security, irrigation, agro‑processing and climate‑resilient farming systems across several African countries. Blue‑economy investments focus on ports, fisheries and maritime logistics, with major upgrades planned in Kenya, Nigeria, Egypt and Morocco.

The digital economy and artificial intelligence sector attracted multi‑billion euro commitments, including projects to expand fibre‑optic networks, satellite connectivity, data centres and digital training centres across Africa.

Healthcare funding will support hospital construction, vaccine production, pharmaceutical development and improved access to medical services in countries such as Guinea, Kenya and South Africa.

The energy transition sector also drew substantial investment in solar, wind, hydro and hydrogen projects aimed at boosting electricity supply and expanding renewable energy access across Africa.

The summit, co‑hosted by Kenya, concluded with renewed commitments to deepen economic cooperation between Africa and France, focusing on investment, innovation, trade and sustainable development.

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