French President Emmanuel Macron announcing a major investment at the Africa Forward summit in Nairobi.
French President Emmanuel Macron announcing a major investment at the Africa Forward summit in Nairobi.
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Macron announces 23 billion euro investment at Nairobi Africa Forward summit

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French President Emmanuel Macron announced a 23 billion euro investment package for African nations at the Africa Forward conference held in Nairobi, Kenya.

The conference, co-organized by French President Emmanuel Macron and Kenyan President William Ruto, brought together leaders from more than 30 African countries. Discussions centered on green industry, energy transition, artificial intelligence, digital technology, and sustainable agriculture.

Ethiopian Prime Minister Abiy Ahmed shared his country's experiences in green industry development and energy transition. He confirmed that Ethiopia will continue playing a leading role by strengthening its ongoing work in these sectors.

President Macron stated that the investment package will be implemented in energy, artificial intelligence and digital technology, maritime and logistics, as well as agriculture. The package is expected to create 250,000 direct jobs. The forum marked the first time it was held outside French-speaking countries, according to Reuters and France 24.

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Initial reactions on X to Macron's €23 billion investment announcement at the Africa Forward summit in Nairobi include neutral news shares from Kenyan media, positive thanks for the private investment focus, skeptical comments on French self-interest amid domestic decline, and strong criticism highlighting historical exploitation by French companies and the pledge's inadequacy relative to Africa's GDP.

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French President Emmanuel Macron and Kenyan President William Ruto at the Africa-France summit podium in Nairobi, symbolizing the end of traditional French influence in Francophone Africa.
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Macron says era of french pre-carre in africa is over

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Emmanuel Macron arrived in Nairobi on Sunday and declared that the era of the French 'pré carré' in Francophone Africa ended in 2017. The French president met Kenyan counterpart William Ruto and is preparing an Africa-France summit.

Nairobi will host a major Africa-France summit from May 11-12, bringing together over 4000 delegates and 30 African presidents for the first time in a non-French-speaking country.

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Kenya's National Treasury has signed two technical assistance agreements with France worth Ksh227 million to boost water infrastructure and clean energy projects. The deals were finalised in Nairobi shortly after French President Emmanuel Macron concluded his visit.

On February 15, Sidi Ould Tah, president of the African Development Bank Group, convened a high-level session with heads of Africa's Regional Economic Communities in Addis Ababa, on the margins of the 39th African Union Summit. The meeting centered on the New African Financial Architecture (NAFA), a framework designed to mobilize domestic capital, enhance financial sovereignty, and address Africa's development financing gap. Participants from various RECs endorsed the initiative as a blueprint for economic transformation.

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Mohamed El Gawsaky, CEO of the General Authority for Investment and Free Zones (GAFI), met with French Ambassador to Cairo Eric Chevallier to strengthen bilateral investment ties. El Gawsaky highlighted the depth of Egyptian-French relations, noting investments from around 200 French companies totaling about $8 billion. Chevallier praised Egypt's efforts to improve the business climate.

Ethiopia has opened the inaugural “Addis Africa” Real Estate Exhibition in Addis Ababa, hosting East African leaders to align trade and housing policies. The event, which began on April 23, aims to position the city as a continental real estate hub.

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The European Union has resumed direct budgetary support to Ethiopia, which was suspended since 2020. This decision includes the immediate release of more than 140 million euros for the national budget. It signals confidence in Ethiopia's reform efforts after the northern conflict.

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