Nairobi: French President, Emmanuel Macron, was in Nairobi on Monday for the Africa Forward Summit, where he announced investments totalling £23 billion to boost the continent's economic development. Macron stated that these investments could generate over 250,000 direct jobs in both France and Africa, with £14 billion to be sourced from French donors and the remainder from African investors. He expressed gratitude to the companies represented at the event and applauded the 'very concrete' outcomes expected from this initiative.
According to Ghana News Agency, French media reports citing the ‚¬°lys©e Palace indicated that the funds are primarily earmarked for advancing energy transition, digitalization, and agriculture across Africa. The summit, which is the inaugural Africa Forward Summit, was attended by thirty state leaders and international dignitaries, including UN Secretary General Ant³nio Guterres. Notable attendees included Nigerian President Bola Ahmed Tinubu, Senegalese President Bassirou Diomaye Faye, Gabon's junta leader Brice Oligui Nguema, and Moroccan Prime Minister Aziz Akhannouch.
The summit aims to redefine the partnership model between Africa and France by promoting increased investment instead of traditional development aid. The focus is on fostering direct investment, equity stakes, loans, guarantees, and grants for development projects. This event is also intended to symbolize a significant shift in France's Africa policy, as announced by Macron, moving away from colonial-style relations towards establishing a more equitable partnership.