Macron to Hold Another Summit on Finance for Africa, Poverty Reduction

Deji Elumoye in Abuja

President Emmanuel Macron of France is to host an African Business Summit later in the year with
Nigerian, African and European businessmen to address the issues of partnerships, problem of African financing needs and supporting vibrant private sector initiatives on the continent.

This was contained in a statement titled:
‘Takeaways from President Muhammadu Buhari’s visit to France’, issued on Sunday by Nigerian president’s spokesman, Garba Shehu.

President Muhammadu Buhari for four days last week was in Paris, France to participate in a summit convened by French President Macron, on the financing of African post-COVID economies.

Shehu said it was agreed at the just concluded summit, the formation of an Alliance for Entrepreneurship in Africa to help mobilize all partners ready to support, through technical and financial resources, the development of African Private Sector, Micro, Small and Medium-sized Enterprises (MSMEs), including women entrepreneurs promoted by the Affirmative Finance Action for Women in Africa (AFAWA).

According to him, Macron hopes this new summit will open the channels to more private financing for Africa, and lead to reduction in poverty levels, boost jobs and employment among youths, and widen the donor base, especially for climate change initiatives.

The statement reads, ”The meeting ended with a strong resolve to make African states attractive to investment. This should change the existing notion that investment on the continent is risky and something to be avoided. France already participates in the Abuja-based intelligence fusion center which brings the West European nations and the countries bordering Lake Chad Basin together in sharing information.

”President Macron promised a strong solidarity with Nigeria as the country squares up to the security challenges in many parts of the country. He also expressed support for the emergency meeting of the countries of the Lake Chad Basin Commission, LCBC coming up on Tuesday 25th of May, called to discuss the demise of Idris Deby-Itno and the future that lies ahead for Chad, its new leaders and the ongoing war against terrorism in the sub-region. On a final note, the trip to France was a highly successful one for Nigeria with concrete promises and agreements.”