French President Emmanuel Macron announced about €23 billion, or $27 billion, in investment pledges for Africa at the Africa Forward Summit in Nairobi, Kenya, on Tuesday. [1, 2, 3, 4, 5, 6]
The summit took place in Nairobi and was billed as the first time the event was held in an English-speaking country. [1, 4, 5] It brought together leaders and senior officials from more than 30 African countries, with around 30 heads of state and government and more than 3,000 delegates reported by one source. [7, 4, 5]
Macron cast the gathering as part of a reset in ties with the continent and spoke of a "partnership of equals" between France and African countries. [2, 3, 4, 5, 6] He also said, "We are not simply here to come and invest on the African continent alongside you – we need great African business leaders to come and invest in France," and added, "And that too is what underpins this relationship, now entirely free of hang-ups." [4]
The pledges were said to cover energy transition, agriculture and artificial intelligence. [3, 4] Macron said the investments could create 250,000 jobs in France and Africa. [4] One source said French-company and public-private investments accounted for €14 billion, while African-side investments made up €9 billion. [4] CMA CGM also pledged €700 million for a terminal investment, according to the report. [4]
The announcement came as Macron faced criticism over his conduct at the summit after he interrupted a panel and told the audience there was a "total lack of respect" and asked for order. [3] The reports did not set out any new deadline for the pledged projects, but the summit in Nairobi marked the latest step in France's push to deepen economic ties with African partners. [1, 3, 4, 5, 6]
