French President Emmanuel Macron announced a massive €23 billion investment package for Africa during the opening of the “Africa Forward” economic summit in Nairobi on Monday, May 11, 2026.
The funding includes €14 billion from French public and private sources, supplemented by €9 billion mobilized through international partners and African investors. Addressing a prominent assembly of heads of state and business leaders, Macron framed the initiative as a definitive move to reshape economic relations, shifting away from traditional development aid toward a model centered on innovation, joint development, and mutual investment.
The targeted financing is set to bolster several strategic sectors, including the energy transition, artificial intelligence, sustainable agriculture, and healthcare. French authorities anticipate that these projects will create over 250,000 direct jobs across both Africa and France in the coming years. By hosting the summit in Kenya—the first time the forum has been held in an English-speaking African nation—Paris is signaling a significant diplomatic repositioning aimed at diversifying its partnerships beyond its traditional sphere of influence.
Standing with Kenyan President William Ruto, Macron emphasized the need for a relationship “between equals” that supports Africa’s industrialization and strengthens local value chains to enhance the continent’s economic sovereignty. This push for deeper engagement comes amid intensifying global competition, as powers like China, the United States, and the Gulf states continue to expand their strategic footprints. The summit concluded its first day with the signing of multiple protocols in renewable energy and digital financial services, marking a concrete step in France’s broader effort to remain a primary economic ally in an increasingly multipolar Africa.
TE/Sf/lb/abj/APA