French President Emmanuel Macron announced €23 billion ($27 billion) in new investments in Africa at the Africa Forward Summit in Kenya, aimed at reshaping France’s relationship with the continent toward “co-investment” rather than aid.

The funding, coming from both French companies and African partners, will support sectors including energy, artificial intelligence, and agriculture.

Kenyan President William Ruto emphasized that future partnerships must be based on sovereignty, equality, and mutual benefit rather than dependency or exploitation.

The summit reflected France’s effort to rebuild ties amid declining influence in former West African colonies and growing competition from other global powers like China and Gulf states, the AP has reported.

Leaders from across Africa also agreed on a joint declaration to deepen cooperation in key development sectors such as technology, health, and energy.