French President Emmanuel Macron has unveiled approximately $27 billion in investment in Africa at the Africa Forward summit in Kenya. The event, a joint initiative between Paris and Nairobi, aims to champion a redefinition of France’s relationship with Africa—shifting from aid and loans to direct investment. According to Macron, $16.4 billion of the $27 billion will come from French companies, with African companies contributing $10.5 billion. The investments will focus on the energy transition, agriculture, and artificial intelligence sectors and are projected to generate up to 250,000 jobs in France and Africa. Macron also used the event to pitch a “partnership of equals” between France and Africa, urging African business leaders to invest in France just as France has done in the continent. Paris’s moves come amid strained ties with its former African colonies, particularly Burkina Faso, Mali, and Niger, which have all pivoted to Russia.
Al Jazeera
