French President Emmanuel Macron and Kenyan President William Ruto concluded the first day of the Africa Forward summit in Nairobi on Tuesday, May 14, 2024 [1].

The announcement signals a strategic push by France to reset its diplomatic and economic ties across the continent through direct financial commitments.

Speaking at the close of the summit's business-forum section, Macron announced an investment of 23 billion euros for Africa [2]. This funding, which is approximately 27 billion USD [2], is intended to support new partnership initiatives, and development projects.

"We are here to build a new partnership between France and Africa," Macron said [3].

The two-day event [4] focused on fostering cooperation between European and African markets. The first day of the summit began on Monday, May 13, 2024 [5].

President Ruto emphasized the need for these investments to translate into tangible economic growth for Kenyan citizens. He said that the Kenyan government is seeking a relationship based on mutual benefit rather than traditional aid.

"Kenya welcomes French investment and cooperation, and we look forward to concrete projects that will create jobs for our people," Ruto said [6].

The summit in Kenya's capital served as a platform to launch several joint initiatives aimed at enhancing trade and infrastructure. The partnership aims to move beyond legacy colonial frameworks toward a modern economic alliance — one focused on job creation and industrial growth.

“"We are announcing 23 billion euros of investment for Africa during this summit."”

The scale of the 23 billion euro pledge reflects France's attempt to maintain influence in Africa amid rising competition from other global powers. By focusing on 'concrete projects' and job creation in Kenya, Macron is attempting to pivot French foreign policy from a paternalistic approach to a peer-to-peer economic partnership.