France Pledges $27 Billion for Africa as Summit Ends in Kenya

French officials wrapped up a multi-country Africa trip on Wednesday by holding talks in Ethiopia centered on giving the continent permanent seats on the U.N. Security Council and improving inclusive global governance. The discussions involved Ethiopian leadership and the African Union Commission along with the U.N. secretary-general.

The participants recognized the need for African representation on the council, according to a meeting readout. Officials noted that the current structure, with three European permanent members, one North American and one Asian but none from Latin America or Africa, creates problems of both legitimacy and effectiveness.

The trip included stops in Egypt, Kenya and Ethiopia. During opening remarks, French officials called for permanent seats for Africa on the U.N. Security Council. A peace and security declaration issued at the end of the summit called for the urgent need for comprehensive reform of the U.N. Security Council to make it more effective and representative.

Africa's push for permanent membership has long been based on reflecting current global realities for a continent of more than 1.4 billion people currently excluded from permanent decision-making power.

A Nigerian industrialist's promise of an East African oil refinery, estimated between $16 billion and $20 billion and backed by the governments of Kenya, Tanzania and Uganda, was a highlight. The project was described as a matter of geopolitical necessity amid fuel price spikes linked to the Iran war.

French officials announced $27 billion in projects involving major French and African companies spanning energy, artificial intelligence, agriculture and logistics. The pledges are part of an effort to reframe ties around industrial partnership and private capital instead of traditional aid and security assistance.

After talks between French and Ethiopian officials, a new loan funding agreement worth $63.9 million was announced for Ethiopia’s green energy investment and digitalization program. French officials also said the government and private sector would mobilize the broader $27 billion in investments to spur inclusive growth across the continent.

Kenyan officials reflected on what they described as a shift in France's relationship with African countries. One leader thanked French officials for courage in making the relationship much more inclusive. The summit was co-hosted by French and Kenyan officials. It took place over two days in Nairobi and marked the inaugural edition of the Africa Forward gathering.

““A Security Council that today does not represent geographically the realities of the world. We have three European permanent members, one North American and one Asian. No Latin American, no African is obviously a Security Council that has a problem of legitimacy, and that brings with it a problem of effectiveness.””

The leaders emphasized that the world would benefit from a more inclusive U.N. Security Council during the Addis Ababa meetings that closed out the trip.