President Bola Tinubu is set to highlight Nigeria's economic reforms at the ongoing Africa-France Economic Summit in Nairobi, Kenya, as part of efforts to strengthen investor confidence in the country's economy, the Presidency has confirmed.
Summit Co-Hosted by Ruto and Macron
The summit, co-hosted by Kenyan President William Ruto and French President Emmanuel Macron, brings together African leaders, global investors, and business executives to discuss economic transformation, innovation, and investment opportunities across the continent.
Tinubu's Broader Engagements
After the summit, President Tinubu is expected to travel to Kigali, Rwanda, for the Africa CEO Forum. These engagements aim to deepen economic cooperation and attract investment into Nigeria and Africa.
Renewed Hope Agenda Alignment
Presidential spokesman Daniel Bwala stated that the summit aligns closely with the Tinubu administration's Renewed Hope Agenda and ongoing efforts to reposition Nigeria's economy for sustainable growth. He noted that six of the seven thematic areas scheduled for discussion reflect policy directions already being implemented by the Nigerian government.
Key Focus Areas
Bwala identified the key focus areas as international financial restructuring, artificial intelligence, agriculture, blue economy, and broader economic transformation initiatives across Africa.
Macron Champions African Investment
French President Emmanuel Macron urged investment in Africa at the start of the summit, aimed at renewing France's engagement with the continent. He also announced new French legislation easing the return of objects looted during the colonial era.
Investment Announcement
Africa needs investment to become more sovereign, with aid being replaced by economic opportunities, Macron said on Monday, announcing €23 billion of investment for Africa. Speaking at the University of Nairobi, he revealed that the funds would include €14 billion in private and public investments by French entities and €9 billion by African investors, focused on energy transition, digital and AI, the maritime economy, and agriculture. These investments are expected to create 250,000 direct jobs in France and Africa.
Partnership Without Hang-ups
We are not simply here to invest on the African continent alongside you; we need great African business leaders to invest in France, Macron told the audience at Nairobi's convention centre. He added that this underpins a relationship now entirely free of hang-ups.
Colonial Legacy
Ahead of the summit, Macron told The Africa Report that colonialism could no longer be blamed for all of Africa's challenges.
