France and Africa Seal €23 Billion Investment Deal at Landmark Summit
A major investment deal worth 23 billion euros ($27 billion) has been announced at a high-level summit between France and African nations. The funds will support projects across various sectors in Africa, with contributions from both French and African partners. Leaders from 30 countries gathered to sign a declaration marking a new phase in their economic and political ties.
French President Emmanuel Macron described the summit as a turning point in France’s relationship with Africa. He explained that the new approach focuses on shared goals and joint investments rather than traditional aid. This shift follows France’s withdrawal of most troops from its former colonies in West Africa after years of growing criticism.
The bulk of the funding—14 billion euros ($16.4 billion)—will come from French companies. African businesses and institutions will contribute the remaining 9 billion euros ($10.5 billion). Macron stressed that the strategy moves away from old models of dependency toward a more balanced partnership. Kenyan President William Ruto reinforced this message in his closing speech. He emphasised sovereignty eight times, declaring that Africa no longer accepts a relationship based on European dominance. Instead, he called for cooperation built on mutual respect and equal standing. Ruto made clear that the continent rejects aid-driven or exploitative deals, insisting on fair and beneficial alliances. The summit concluded with all 30 heads of state and government signing a joint declaration. The agreement formalises the financial commitments and outlines the framework for future collaboration.
The 23 billion euro investment package signals a major change in how France engages with Africa. With funds split between French and African sources, the deal aims to create more balanced economic ties. The summit’s final declaration sets the stage for a partnership based on shared investment rather than historical dependency.
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