Nairobi (dpa) – 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 said the investments could create more than 250,000 direct jobs in France and Africa, with €14 billion euros to come from French donors and the rest from African investors.
He thanked the companies represented at the event and praised the “very concrete” results.
According to French media reports citing the Élysée Palace, the funds are to be channelled primarily into the energy transition, digitalization and agriculture.
Thirty state leaders, as well as UN Secretary General António Guterres, were expected to attend the inaugural Africa Forward Summit.
Those present 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 event aims to develop a new partnership model between Africa and France and promotes increased investment over traditional development aid.
The focus is on direct investment, equity stakes, loans, guarantees and grants for projects. The summit is also intended to symbolize the paradigm shift in France’s Africa policy announced by Macron, moving away from colonial-style relations towards a more equal partnership.
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