By Business Insider Correspondent, Nairobi
French President Emmanuel Macron has unveiled a sweeping €23 billion (US$27 billion) investment package targeting Africa’s fast-growing economies, signaling a major strategic shift in France’s engagement with the continent as East Africa increasingly emerges as a preferred destination for global capital, technology partnerships and infrastructure investment.
Speaking at the Africa Forward Summit in Nairobi, co-hosted with Kenyan President William Ruto, Mr. Macron said the new investments would focus on energy transition, agriculture, artificial intelligence, digital transformation and strategic infrastructure projects across Africa.
The summit, attended by more than 30 African heads of state and over 1,500 business leaders, marked France’s first major Africa investment forum hosted in an English-speaking African nation – a move widely viewed as recognition of East Africa’s rising geopolitical and economic importance.
Shift from aid to investment
The new investment commitments include €14 billion from French public and private institutions and €9 billion from African investors and businesses.
According to Mr. Macron, the initiative is expected to generate approximately 250,000 jobs across Africa and France while deepening commercial integration between European and African economies.
“We are not simply here to invest in Africa,” Mr. Macron told delegates. “We also want African business leaders to invest in France. This is now a partnership of equals.”
The announcement reflects a broader transformation in Africa-Europe relations, where investment, industrial partnerships and innovation are increasingly replacing traditional aid-driven cooperation models.
For East African economies including Tanzania, Kenya, Rwanda and Uganda, the summit signals growing opportunities for foreign direct investment, technology transfer and infrastructure financing at a time when governments across the region are accelerating industrialisation agendas.
East Africa gains strategic relevance
The Nairobi summit comes amid declining French influence in parts of Francophone West Africa, where several countries have recently reduced diplomatic and military ties with Paris.
As geopolitical dynamics shift, France is increasingly turning toward East Africa – one of the continent’s fastest-growing economic regions – in search of stable, long-term partnerships.
The East African Community (EAC), with its expanding consumer market, improving infrastructure and strategic trade corridors, is becoming increasingly attractive to global investors seeking access to African growth opportunities.
The summit’s agenda focused heavily on sectors expected to drive Africa’s next phase of economic expansion, including renewable energy, climate financing, artificial intelligence, resilient healthcare systems, sustainable agriculture and the blue economy.
Analysts say Tanzania stands to benefit significantly from this changing investment landscape due to its strategic geographic position, expanding infrastructure network and abundant natural resources.
Infrastructure and logistics in focus
Among the major deals announced during the summit was a €700 million investment by French shipping giant CMA CGM to modernise part of the Port of Mombasa in Kenya.
The investment highlights growing international interest in East African logistics and maritime infrastructure as global trade routes increasingly shift toward the region.
The development also has broader implications for neighbouring economies such as Tanzania, where competition between the ports of Mombasa and Dar es Salaam continues to intensify.
Tanzania has in recent years invested heavily in upgrading the Port of Dar es Salaam, the Standard Gauge Railway (SGR) and regional transport corridors connecting landlocked countries including Zambia, Rwanda, Burundi and the Democratic Republic of Congo.
As European investors deepen their East African presence, Tanzania is expected to compete aggressively for future investments in logistics, renewable energy, manufacturing and digital infrastructure.
AI and energy transition dominate agenda
One of the summit’s strongest themes was artificial intelligence and digital innovation.
African governments are increasingly positioning technology and youth-driven entrepreneurship as key pillars of long-term economic growth.
French telecommunications giant Orange and energy major TotalEnergies were among the corporations participating in the discussions.
The emphasis on clean energy transition also aligns closely with East Africa’s growing renewable energy ambitions.
Countries such as Tanzania and Kenya are aggressively expanding investments in hydropower, natural gas, geothermal, solar and wind energy to support industrial growth and rising electricity demand.
Africa’s youth and market potential
Business leaders attending the summit repeatedly highlighted Africa’s demographic advantage as one of the continent’s strongest investment attractions.
With Africa projected to account for a significant share of the global workforce over the coming decades, European economies increasingly view the continent as a future innovation and productivity partner rather than simply a commodity market.
Nigerian billionaire Aliko Dangote, who attended the summit, underscored the growing role of African private capital in driving the continent’s industrial transformation. For East Africa, the summit reinforced the region’s growing status as a strategic frontier for global business, infrastructure development and technology investment.
