French President Emmanuel Macron announced new investments in Africa as a partnership summit closed yesterday in Kenya with calls for mutual respect and new, revamped ties that France hopes to build with the continent.

Macron said the Africa Forward Summit marked a financial shift in relations between France and African nations, including those that were once its colonies. Kenya, which was not a French colony, co-hosted the gathering with France.

Investments worth €23 billion (US$27 billion) will fund various sectors in Africa, including energy, artificial intelligence and agriculture, Macron said, adding that €14 billion (US$16.4 billion) will come from French companies and €9 billion (US$10.5 billion) from African entities.