Nairobi: French President Emmanuel Macron on Monday announced a substantial investment package amounting to £23 billion ($27 billion) aimed at bolstering economic ties with Africa, including £14 billion ($16 billion) from France. The announcement was made during the closing of the Africa Forward business forum in Nairobi, Kenya.

According to Anadolu Agency, Macron highlighted that £14 billion of the total investment would stem from French private and public sectors. The Elysee Palace, as cited by the broadcaster, indicated that this portion of the investment would involve private-sector players and projects spearheaded by French development aid operators. The remaining £9 billion ($10.5 billion) will be furnished by African investors.

Macron emphasized the potential of these investments to generate over 250,000 direct jobs across France and Africa, signifying a transformative phase in the relationship between the two regions. He described this initiative as a pivotal 'change in approach,' advocating for a strengthened partnership between France and Africa.

The French President underscored the importance of collaborative efforts, stating, "Many solutions are made in the United States or in China," and stressed the need for Europe and Africa to build strategic autonomy together, which he believes will fortify their global standing.