French President Emmanuel Macron has announced investment commitments worth 23 billion euros ($27bn) during the Africa Forward summit in Kenya, describing the relationship between France and Africa as a “partnership of equals”.

Speaking at the two-day summit in Nairobi, Macron said 14 billion euros ($16.4bn) would come from French public and private investments, while African companies would contribute 9 billion euros ($10.5bn).

The investments will focus on sectors including energy transition, agriculture and artificial intelligence, with Macron saying the projects are expected to create around 250,000 jobs across Africa and France.

Strengthening ties with Africa

The summit marks France’s first major Africa-focused gathering in an English-speaking African nation and comes at a time when Paris is trying to rebuild influence across the continent.

Macron said France wants a relationship based on investment and cooperation rather than traditional aid models.

“We are not simply here to invest in Africa,” Macron said, adding that African businesses should also expand investments into France.

Leaders from more than 30 African countries attended the summit alongside business executives and investors.

Major business commitments announced

Among the deals announced, French shipping company CMA CGM committed 700 million euros to modernise facilities at Kenya’s Port of Mombasa.

Executives from major French companies and African business leaders, including Nigerian billionaire Aliko Dangote, also attended the summit.

Macron said Europe could become a stronger long-term trade partner for Africa compared with other global powers.

Colonial legacy and future relations

The French president acknowledged growing criticism of France’s role in Africa but said the continent’s future should not remain tied to debates about colonialism alone.

He also said the process of returning African artworks taken during the colonial period had become “unstoppable” after France recently passed legislation allowing the return of looted artefacts.

Kenyan President William Ruto welcomed the summit and called for stronger economic partnerships based on investment, trade and development opportunities rather than dependence on aid and loans.