France Intensifies Economic Engagement in Africa

In a strategic shift away from traditional aid-based diplomacy, France is significantly increasing investment across the continent. This move aligns with President Emmanuel Macron’s push for French companies to expand their presence in African markets where geopolitical rivals have been gaining ground.

Investment Surge Across Key Sectors

Under Macron’s leadership, French institutions like Business France, Bpifrance, and the Agence Française de Développement (AFD) are actively channeling support to both African businesses and French firms operating on the continent. Proparco, AFD’s private-sector arm, committed €924 million ($1 billion) - 37% of its total projects - to Africa in 2025 alone.

This investment prioritizes sectors addressing major continental challenges:

• Energy transition with mega-projects like the East African Crude Oil Pipeline (nearing completion)
• Connectivity and infrastructure including deep-offshore gas operations in Nigeria
• Healthcare, industry, and agribusiness with a focus on sustainable practices
• Entrepreneurial ecosystems through initiatives like “Choose Africa”, which mobilized €450 million ($482 million) for African SMEs and start-ups in 2025

Major Investments by French Corporations

Several French multinationals have responded to Macron’s call with substantial investments:

• TotalEnergies is financing the East African Crude Oil Pipeline and expanding gas operations across multiple countries
• Orange continues investing in telecommunications infrastructure
• Bolloré Logistics strengthens its supply chain services
• CMA CGM expands shipping capabilities

Trading Patterns Shift Towards Anglophone Markets

A notable change is France’s increasing trade with English-speaking African economies. Nigeria surpassed South Africa and Côte d’Ivoire as France’s top trading partner in sub-Saharan Africa in 2024, with €4.9 billion ($5.7 billion) in trade flows.

This shift reflects both economic opportunity and response to anti-French sentiment in some former colonies. Overall, French FDI stock in Africa reached between €60 billion and €68 billion ($70 billion to $80 billion) in 2024/25 - a 25% increase from 2018/19.

With the upcoming Africa Forward Summit co-hosted with Kenya, France signals its commitment to balanced partnerships that prioritize mutual economic development across the continent.