Emmanuel Macron, the President France/Bloomberg

Economy

France pledges $2.8 billion African business investment by 2022

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The French President who is on a three-day trip to Africa to boost trade with Ethiopia, Djibouti and Kenya, said EUR 1 billion was earmarked for equity investment in start-ups and SMEs.

Thursday 14, March 2019

(Bloomberg) --French President Emmanuel Macron has pledged to invest EUR 2.5 billion ($2.8 billion) in Africa by financing and supporting start-ups and SMEs by 2022.

Dubbed Choose Africa, the French Government seeks to support about 10,000 enterprises across the continent by providing credit, technical support and equity financing.

The funds will be mobilised via the AFD and its private-sector financing arm, Proparco.

TAGS : Emmanuel Macron, Choose Africa

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