French President Emmanuel Macron and Kenyan President William Ruto concluded the 2026 “Africa Forward” summit by announcing a landmark €23 billion ($27 billion) investment agreement. Held over two days at the Nairobi International Convention Centre, this historic event represents the culmination of France’s efforts to reshape its continental role by looking beyond its former colonies toward Anglophone African nations.
This investment package signals a transition from the “donor-recipient” dynamic that has characterized France-Africa relations for decades toward a model of mutual benefit. Of the total €23 billion, €14 billion ($16.4 billion) will be sourced from the French government and private institutions, while the remaining €9 billion ($10.5 billion) consists of investments from African business leaders and institutions.
President Macron emphasized that this alliance is expected to create 250,000 direct jobs across both the European and African continents. Speaking before more than 30 heads of state and 7,000 participants, Macron stated, “We are not just here to stand by you and invest in the African continent; we want great African business leaders to come and invest in France as well. This is what strengthens the relationship between the two without any inhibitions.”
The investment agreements primarily focus on sectors critical for the future, including Artificial Intelligence (AI), the energy transition, and modern agriculture. Key highlights of the signed deals include a €700 million ($820 million) investment by the French shipping giant CMA CGM to modernize and expand terminals at the Port of Mombasa, positioning it as a primary gateway for East and Central Africa. Additionally, Proparco, the private sector arm of the French Development Agency, signed a €300 millionagreement with Ecobank for agricultural financing.
Leaders from Orange and TotalEnergies also discussed the necessity for Europe and Africa to build their own technological ecosystems to compete with American and Chinese technology.
The summit took place at a time when France faces significant diplomatic and military challenges in its former colonies, particularly within the Sahel region. President Macron’s choice of Kenya—an Anglophone nation and East Africa’s economic engine—as the host signifies France’s desire to view Africa as a “whole continent” rather than limiting its engagement to historical ties. Kenyan President William Ruto echoed this sentiment, praising the agreement for being rooted in “sovereign equality.”
He remarked, “We must no longer think in terms of aid and debt; instead, we must think about investment and what Africa contributes to the world.”
Beyond economics, the summit addressed the legacy of colonialism. Macron reaffirmed that the process of returning African artifacts looted during the colonial era is “irreversible,” noting that the French Parliament recently passed a new law to facilitate these returns.
However, while acknowledging that history cannot be forgotten, the French leader also pointed out that African leaders must take responsibility for governance challenges encountered in the “seven decades” since independence.
