{"id":671,"date":"2026-05-12T02:50:38","date_gmt":"2026-05-12T02:50:38","guid":{"rendered":"https:\/\/dailypakistannews.com\/?p=671"},"modified":"2026-05-12T02:50:38","modified_gmt":"2026-05-12T02:50:38","slug":"macron-announces-23bn-euros-of-investment-at-africa-summit","status":"publish","type":"post","link":"https:\/\/dailypakistannews.com\/?p=671","title":{"rendered":"Macron announces 23bn euros of investment at Africa summit"},"content":{"rendered":"

NAIROBI: French President Emmanuel Macron announced 23 billion euros (USD27 billion) of investment for Africa during a major summit on the future of the continent hosted by Kenya on Monday.<\/strong><\/p>\n

France has brought together dozens of heads of state and business leaders for the two-day Africa Forward summit in Nairobi, aimed at renewing France\u2019s engagement with the continent after years of strained ties with its former colonies.<\/p>\n

The investments Macron announced include 14 billion euros in private and public funds from French entities, and nine billion euros from African investors, focused on energy transition, digital and AI, the maritime economy and agriculture.<\/p>\n

They would create 250,000 direct jobs in France and Africa, Macron said.<\/p>\n

\u201cWe are not simply here to come and invest on the African continent alongside you \u2014 we need the great African business leaders to come and invest in France,\u201d he told the audience at Nairobi\u2019s convention centre.<\/p>\n

\u201cAnd that too is what underpins this relationship, now entirely free of hang-ups,\u201d he added.<\/p>\n

Ahead of the summit, Macron told The Africa Report that colonialism could no longer be blamed for all of Africa\u2019s challenges.<\/p>\n

\u201cWe must not exonerate from all responsibility the seven decades that followed independence,\u201d he told the magazine, calling on African leaders to improve governance.<\/p>\n

Europe\u2019s former colonial powers were not \u201cthe predators of this century,\u201d he added.<\/p>\n

In a speech at the summit, Macron also said that the process of returning African artworks looted during the colonial era had become \u201cunstoppable\u201d.<\/p>\n

The French parliament last week passed a law paving the way for Macron to return looted African cultural artefacts.<\/p>\n

Macron has sought to position Europe as a more reliable trade partner than China and the United States.<\/p>\n

\u201cEurope defends the international order, effective multilateralism, the rule of law, free and open trade,\u201d he told The Africa Report.<\/p>\n

On critical minerals and rare earths, China, he said, \u201coperates according to a predatory logic: it does the processing at home\u201d and creates \u201cdependencies with the rest of the world\u201d. He has also emphasised the need for an overhaul of international finance, to set up a system of financial guarantees to bring in private investment, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

NAIROBI: French President Emmanuel Macron announced 23 billion euros (USD27 billion) of investment for Africa during a major summit on the future of the continent hosted by Kenya on Monday. France has brought together dozens of heads of state and business leaders for the two-day Africa Forward summit in Nairobi, aimed at renewing France\u2019s engagement […]<\/p>\n","protected":false},"author":0,"featured_media":672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan-news"],"_links":{"self":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=671"}],"version-history":[{"count":0,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/media\/672"}],"wp:attachment":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}