Macron pivots to private sector partnerships in Africa with €23bn trade deal

French and African investors committed a combined €23 billion ($27 billion) during the France-Africa Summit in Nairobi, marking one of the largest investment drives announced at a recent Africa-focused economic gathering.

According to African Economic Inc, at the Africa Forward Summit on Tuesday, Emmanuel Macron, president of France, said the commitments included €14 billion from French companies and €9 billion from African entrepreneurs and investors as France moves to deepen trade and investment ties across the continent.

Read also: Nigeria warns citizens in S’Africa over planned security crackdown in Gauteng

The summit drew more than 30 African heads of state and about 7,000 delegates, including business executives, investors, and policymakers from across Africa and France.

Macron described the investment commitments as a major step in reshaping France’s economic relationship with African countries, with a stronger focus on business partnerships and private sector growth.
“This is a big first,” Macron said during the summit in Nairobi.

Read also: US flags Nigeria, Lake Chad as key terror battlefronts in 2026 security strategy

The French president said the new approach was aimed at building a more balanced relationship between Africa and Europe rather than relying on traditional aid-driven models.

“Let’s take a leap together, this is not a top-down agenda from Africa to Europe,” he said. “It’s an equal partnership.”

The summit comes at a time of growing competition among global powers seeking stronger economic influence across Africa. France, China, the United States, and Gulf states have all expanded investment efforts in sectors including infrastructure, energy, technology, manufacturing, and critical minerals.

Read also: WORLD IN BRIEF: Trump attack suspect pleads not guilty, Ramaphosa refuses to resign, Macron seeks Africa reset and other stories

France has increasingly sought to redefine its ties with African nations in recent years as geopolitical dynamics shift across the continent and African economies attract greater global investor interest.

Analysts say the push reflects a broader race among major economies to secure long-term commercial partnerships in Africa, where rapid urbanisation, expanding consumer markets, and abundant natural resources continue to drive international attention.