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Macron unveils USD27B Investment Package to Boost Africa Partnerships
(MENAFN) French President Emmanuel Macron announced a major investment initiative worth €23 billion (about $27 billion) aimed at strengthening economic ties and development projects across Africa, according to reports.
The announcement came as Macron closed the “Africa Forward” business forum held in Nairobi, where he outlined a revised approach to cooperation between Europe and Africa.
He said €14 billion (around $16 billion) of the total package will come from French sources, including both public funding and private-sector participation. The remainder, about €9 billion ($10.5 billion), is expected to come from African investors.
According to reports citing the Élysée Palace, the French contribution will involve development agencies as well as private companies working on joint projects across the continent.
Macron said the initiative is expected to generate more than 250,000 direct jobs across Africa and France.
He framed the investment drive as part of a broader shift in international relations, arguing that Africa and Europe should reduce reliance on external powers.
“Many solutions are made in the United States or in China,” he said, adding: “I believe we are engaged in a common struggle (…) which consists of building our strategic autonomy for Europe and Africa. And if we build it together, we will be much stronger.”
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