250 deals on the table as France expands Africa investment push

France is seeking to secure at least 250 business and government deals from the inaugural Africa Forward Summit in Nairobi this week as it moves to strengthen economic ties with Anglophone Africa, with Kenya emerging as a key strategic gateway to the continent.

The summit, which officially began yesterday in Nairobi, has brought together African leaders, investors and business executives to discuss trade, infrastructure, technology and broader economic partnerships.

The move signals France’s growing interest in expanding its influence beyond traditional Francophone strongholds, especially at a time when relations with some French-speaking African nations have become increasingly strained.

Kenya, East Africa’s largest economy and a regional commercial hub, has become central to France’s renewed Africa strategy. Traditionally, Kenya and many other Anglophone African countries have maintained stronger economic and political ties with English-speaking markets, such as the United States, the United Kingdom and Canada, largely due to historical links.

Speaking during a press briefing ahead of the summit, Chief Executive of Business France, Louis Margueritte, said the French government-backed agency had organised about 800 meetings involving businesses and governments across Africa.

The meetings include business-to-business and business-to-government engagements, aimed at converting a significant number into investment and commercial agreements.

“One third or half would be a very good result,” said Margueritte.

He noted that the summit is not only focused on France and African governments, but also aims to encourage partnerships among African enterprises.

“It is not a bilateral meeting; it is multilateral,” he said.

France’s interest in Kenya is largely driven by its strategic geographical position, relative economic stability and growing influence in East Africa. Technology, agriculture, energy and services have emerged as key sectors attracting French investment.

Shirleen Ishenyi, Trade Advisor at Business France East Africa, said Kenya’s agricultural sector has shown rising demand for mechanised farming equipment and modern agricultural technologies from France.

She said Business France has been working closely with farmers’ associations to facilitate access to advanced European equipment aimed at improving productivity and efficiency.

“We have been able to engage with large-scale farmers. We are exploring access to modern equipment from Europe, and where there is potential synergy, business opportunities will follow,” she said.

Business France, which opened its Nairobi office in 2013, currently supports about 140 French companies operating in Kenya.

Senior Trade Advisor Robert Kiarie said most engagements lined up during the summit involve African countries, highlighting the growing importance of intra-African trade.

“There is a lot of intra-Africa exchange that will take place during the summit,” he said.

Even as business discussions intensified, Kenya and France on Sunday signed 11 agreements aimed at deepening bilateral cooperation in energy, transport, digital infrastructure and sustainable fuels.

The agreements were signed at State House, Nairobi, following bilateral talks between President William Ruto and President Emmanuel Macron.

Key projects include the construction of a new National Electricity Control Centre, modernisation of railway signalling systems for Nairobi’s commuter rail network, renovation works at Masinga Dam, deployment of a national digital highway and fibre infrastructure, and cooperation on sustainable fuel initiatives.

Macron said the projects are expected to support Kenya’s long-term economic development while improving access to essential public services.

“The projects we have signed today, which are the result of extensive work in recent months and years, will improve the lives of Kenyans,” he said.

He added that the new electricity control centre would improve access to more reliable and affordable energy, while railway modernisation would ease urban congestion in Nairobi.

Ruto described Kenya’s relationship with France as longstanding and strategically important, noting that cooperation has grown steadily since independence.

“France has been with Kenya since independence, and we have walked that journey together ever since,” he said during a joint media briefing.

The President also assured France that Kenya would honour all commitments made under the newly signed agreements.

“Mr President, I want to assure you that we will not disappoint you. The confidence you have shown in Kenya confirms that you have friends on this side, and you can count on our partnership, friendship and cooperation,” Ruto said.

The talks also touched on rising global energy costs linked to tensions around the Strait of Hormuz, a critical global oil shipping route.

Ruto warned that escalating geopolitical tensions were already affecting African economies through higher fuel prices.

“Fuel prices and oil prices have gone up by between 20 and 30 per cent,” he said, adding that several African leaders had raised concerns.

He called for de-escalation and urged parties involved to consider the wider impact on developing economies already grappling with inflation and high living costs.