Macron announces €23 billion investment in Africa at Kenya summit

French President Emmanuel Macron unveiled a €23 billion investment plan for Africa at the two-day Africa Forward summit in Nairobi, Kenya, on May 11. The funds—€14 billion from French public and private sources and €9 billion from African investors—will target energy transition, digital and AI development, the maritime economy, and agriculture. Macron emphasized the partnership’s mutual benefits, stating it would generate 250,000 direct jobs across France and Africa while encouraging African business leaders to invest in France. The summit marks a renewed effort to strengthen France’s ties with the continent amid strained historical relations. Macron acknowledged that colonialism could no longer be blamed for Africa’s challenges but urged improved governance post-independence. He also highlighted France’s recent law facilitating the return of looted African cultural artifacts, calling the process ‘unstoppable.’ In his remarks, Macron positioned Europe as a more reliable trade partner than China or the U.S., criticizing China’s ‘predatory logic’ in handling critical minerals and rare earths. He stressed the need for reforming international finance to attract private investment, framing Europe’s role as one that upholds multilateralism, rule of law, and free trade. The announcement follows Macron’s pre-summit interview with *The Africa Report*, where he dismissed colonial powers as ‘predators of this century’ and called for shared responsibility in addressing Africa’s development. The summit brought together African heads of state and business leaders to discuss economic and diplomatic cooperation. France’s €23 billion pledge aims to counterbalance China’s influence while fostering sustainable growth in key sectors. Macron’s push for reciprocal investment and cultural restitution underscores a shift toward a more equitable France-Africa partnership.