{"id":5792,"date":"2026-05-12T02:24:53","date_gmt":"2026-05-12T02:24:53","guid":{"rendered":"https:\/\/www.africa-press.net\/en\/home\/macron-unveils-e23b-africa-investment-plan"},"modified":"2026-05-14T06:05:42","modified_gmt":"2026-05-14T06:05:42","slug":"macron-unveils-e23b-africa-investment-plan","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/en\/policy\/macron-unveils-e23b-africa-investment-plan","title":{"rendered":"Macron Unveils \u20ac23B Africa Investment Plan"},"content":{"rendered":"<p><span class=\"ap-article-header-tag\"> <strong>Africa-Press. <\/strong> <\/span>French President Emmanuel Macron announced French and African investments totaling 23 billion euros in Africa, including 14 billion euros from public and private French investments, at the conclusion of the French-African business forum &#8220;Africa Forward&#8221; held in Nairobi, Kenya.<\/p>\n<p>Kenyan President William Ruto and his French counterpart wrapped up the economic forum, which brought together thousands of business leaders and investors from startups and multinational companies, with both sides affirming the launch of a new phase of economic partnership between France and the African continent.<\/p>\n<p>Macron stated that &#8220;everything we are launching today represents a new era that began in Nairobi and there will be no turning back,&#8221; explaining that French investments include contributions from French companies, institutions, and investment funds, alongside development projects funded by the French Development Agency and other French financial institutions, while the remaining 9 billion euros come from African investors.<\/p>\n<p>The French President confirmed that these investments will create more than 250,000 direct jobs in France and Africa, considering the summit as embodying a &#8220;change in approach&#8221; in relations between France and the African continent, focusing on investment and partnerships instead of traditional aid. The investments encompass various financial instruments, from equity and loans to guarantees, grants, and direct partnerships.<\/p>\n<p>According to the E\u0301lyse\u0301e Palace, the energy sector leads the fields benefiting with a share of 4.3 billion euros, followed by digital technology and artificial intelligence at 3.76 billion euros, then the blue economy at 3.3 billion euros, agriculture at 1 billion euros, along with 942 million euros allocated to the health sector, 300 million euros for manufacturing, and 250 million euros for the banking and financial sector.<\/p>\n<p>For his part, Kenyan President William Ruto called on the private sector to expand its investments in East Africa, referring to a project for developing a massive oil refinery in East Africa in collaboration with Nigerian businessman Aliko Dangote, noting that the project&#8217;s cost could range between 16 and 20 billion dollars, making it the second-largest refinery on the African continent.<\/p>\n<p>The summit witnessed the attendance of around 7,000 African business leaders and investors, exceeding expectations, with several business leaders praising what they described as a transformation in French-African relations towards a more balanced and respectful partnership, focusing on financing and investment as the main drivers of economic growth on the African continent.<\/p>\n<p>Macron emphasized during the summit that Africa needs investment more than government aid, stating that what the African continent requires is &#8220;investment and joint production,&#8221; not lessons or imposed ready-made models from abroad. He added that France seeks to enhance its economic presence across Africa, whether in French, English, or Portuguese-speaking countries.<\/p>\n<p>The summit also discussed the role of sports as a driver of economic development in Africa, where the President of the African Football Confederation Patrice Motsepe noted that the recent Africa Cup of Nations in Morocco was followed by around 2.5 billion people worldwide, while Macron affirmed that the sports economy in Africa still holds vast untapped potential.<\/p>\n<p class=\"ap-article-footer-note\">Find more news and analyses on <span class=\"ap-highlight-country\">Africa<\/span> on the <span class=\"ap-highlight-brand\">Africa Press<\/span> website<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press. French President Emmanuel Macron announced French and African investments totaling 23 billion euros in Africa, including 14 billion euros from public and private French investments, at the conclusion of the French-African business forum &#8220;Africa Forward&#8221; held in Nairobi, Kenya. Kenyan President William Ruto and his French counterpart wrapped up the economic forum, which brought [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":5791,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45,40],"tags":[120],"class_list":{"0":"post-5792","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"category-policy","9":"tag-africa"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Macron Unveils \u20ac23B Africa Investment Plan - Africa Press English<\/title>\n<meta name=\"description\" content=\"-article-header-tag&quot;&gt; Africa-Press. 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