Held in Nairobi in May 2026, the Africa Forward Summit saw France announce €23 billion in commitments (€14 billion French, €9 billion African) across three key sectors: energy transition, agriculture, and artificial intelligence. With 250,000 jobs expected, the summit marks a turning point in Paris's economic strategy toward Africa — and repositions French companies on a continent in full realignment.
An unprecedented summit: Paris ventures into Anglophone territory
For the first time, France organised its flagship African economic summit in an English-speaking country — Kenya. A strong diplomatic signal in a context of retreating French influence across the Sahel. It was in Nairobi, before President William Ruto and a delegation from more than 30 African countries, that Emmanuel Macron announced a total envelope of €23 billion — €14 billion from the French side and €9 billion from African private investors.
Kenya's president set the tone: « We should no longer think in terms of aid and loans, but rather in terms of investment and what Africa has to offer. » A framing that marks a sharp break from traditional development-aid approaches.
Three strategic sectors, 250,000 jobs
Commitments focus primarily on the energy transition, agriculture, and artificial intelligence. On the logistics side, shipping giant CMA CGM announced an engagement of €700 million to modernise the port terminal in Mombasa, East Africa's principal maritime hub. Total job creation is estimated at 250,000 positions across France and Africa.
Macron emphasised a « partnership of equals » and reiterated France's commitment to returning looted African cultural artefacts — a symbolic gesture accompanying the economic announcements.
A geopolitical turning point for Indian Ocean businesses
For economic actors in the Indian Ocean — Réunion, Mauritius, Madagascar, the Comoros — this summit carries particular resonance. French and African companies benefiting from these investments will seek regional relays. The reorientation of financial flows toward East Africa (Kenya in the lead) pairs naturally with Mauritius's emergence as a regional hub.
Moreover, the emphasis on AI and African tech opens perspectives for Indian Ocean startups: Franco-African industrial partnerships and financing could flow into the local ecosystem — provided regional players position themselves swiftly in these conversations.
Why it matters
€23 billion from Paris toward Africa is not aid — it is a commercial bet. France is repositioning its companies on a continent fiercely contested by China, the United States, and Gulf states. For Indian Ocean decision-makers, this great-power competition for Africa is an opportunity: it multiplies potential partners and financing sources available in the zone.
Sources: Al Jazeera, African Business Magazine, Africa24 TV (Africa Forward Summit, Nairobi, May 2026).