Emmanuel Macron has announced a €23 billion ($27 billion) investment initiative for Africa as France intensifies efforts to strengthen economic ties with the continent and counter China’s expanding influence across key sectors. The commitment was unveiled during the France-Africa summit in Nairobi, where African and European leaders gathered to discuss trade, infrastructure, technology, and investment cooperation, as reported by Reuters.
The investment package will focus on sectors including renewable energy, digital infrastructure, artificial intelligence, agriculture, transport, and maritime development. French officials said the initiative aims to support sustainable growth, industrialisation, and job creation while encouraging stronger partnerships between African and French companies.
Macron’s announcement comes amid growing competition between global powers for economic and strategic influence in Africa. China has spent more than two decades expanding its presence across the continent through large-scale infrastructure financing, mining investments, and trade agreements under the Belt and Road Initiative. France, meanwhile, has been seeking to reposition its relationship with Africa through increased private-sector partnerships and economic diplomacy.
African leaders at the summit also called for reforms to the global financial system, including fairer risk assessments and lower borrowing costs for African economies. Analysts say Macron’s investment push reflects Europe’s broader recognition that Africa will play an increasingly central role in global trade, energy security, technology, and demographic growth over the coming decades.
