French President Emmanuel Macron announced a 23 billion euro investment package for Africa at the Africa Forward Summit in Nairobi, with 14 billion euros directly from French companies. This financial commitment, presented as a new era of "co-investment" and a departure from past "assistance," follows decades of France's colonial policy, known as Françafrique, which systematically extracted resources and maintained economic, political, and military control over its former colonies.
The announced funds are earmarked for energy, artificial intelligence, and agriculture sectors. These areas represent strategic opportunities for French capital to secure new markets and resources, ensuring continued avenues for surplus extraction under the guise of development.
Macron declared that France's new strategy is based on a "shared agenda," stating, "sovereignty and autonomy is shared, and your success is our success." He asserted that the "days of offering assistance are behind us," emphasizing a focus on "co-investment" to frame the continued penetration of French capital.
Capital's New Strategy
Kenyan President William Ruto, co-hosting the summit, echoed this rhetoric, referring to "sovereignty" eight times in his speech. Ruto claimed the "days of European dependency were over for Africa," advocating for partnerships built on "sovereign equality," "mutually beneficial investment," and "win-win engagements," rather than "aid or charity" or "extraction or exploitation."
This summit takes place amidst a significant fallout between France and its former colonies, particularly in West Africa. For generations, France maintained a colonial policy, dubbed Françafrique, which ensured its economic, political, and military dominance, including the deployment of thousands of troops across the region.
This long-standing imperial garrison faced growing criticism from leaders and opposition parties in Mali, Niger, and Burkina Faso. These nations consistently denounced France's approach as "demeaning and heavy-handed," exposing the true nature of the Françafrique policy.
In response to this organized pressure and popular discontent, France has been compelled to withdraw most of its troops from the region. The complete withdrawal of troops from Senegal, completed in July of the same year, marks a tactical retreat for the French state, forced by the shifting political landscape and resistance to its military presence.
The State's Role in Securing Wealth
The French state, through President Macron, is actively orchestrating this rebranding effort. The Africa Forward Summit, culminating in a declaration expected to be signed by all 30 heads of state and government, serves to formalize a new framework for capital accumulation, ensuring the continued flow of profits to French corporations.
While 14 billion euros are explicitly from French companies, the remaining 9 billion euros are slated to come from "African entities." This structure suggests a partnership between transnational French capital and local African elites, who will facilitate the integration of their economies into the global capitalist system, further entrenching the mechanisms of surplus extraction.
Rhetoric Versus Reality
The shift from "assistance" to "co-investment" is a strategic maneuver by the French state and its capitalist class. It aims to legitimize continued economic penetration and resource control by reframing it as a partnership, thereby extending the life of existing power structures without addressing the fundamental imbalances of wealth and power inherited from colonialism. The rhetoric of "mutual respect" and "sovereignty" serves to mask the underlying reality of capital's relentless drive for expansion and profit.