The Inspire & Connect event was held on Friday November 2024 in Nairobi, organized by Bpifrance, the French public investment bank. The day brought together several hundred African and French investors and economic decision makers. This is with the aim of developing partnerships between entrepreneurs from the two countries and encouraging French companies to establish themselves in the region.
In Nairobi, participants exchange and meet between discussion panels and thematic workshops. A delegation of eight French companies was present Kenya for the occasion. Among these, Matières, specialized in the production and design of modular metal bridges. It is already present in western and central Africa. Vincent Lerond, its sector manager, came to Nairobi with an ambition: “ I’m trying to make a slightly bigger deal with what we call a deck of cards. Instead of building a single bridge, he is starting a project with the Kenyan authorities with a series of bridges. So we are really interested in developing in East Africa. And Kenya is a really good gateway to countries like Tanzania and Uganda. »
Already in 2020, French President Emmanuel Macron had invited French companies to establish themselves in Kenya. Interest is growing, there are now 140 in the country, compared to 35 in 2012. In the most diverse sectors: energy, large-scale retail trade and even agriculture.
« Exceptional market depth » in East Africa
For Yves Battesti, head of East Africa at Bpifrance, the opportunities in the region are still too little known. “ It is true that, when we discuss with French companies, Bpifrance every year in France it accompanies those who are exporters to Africa, accustomed above all to exploring the geographies of West Africa. And this probably depends on the ease of access to the market for these French companies, due to the linguistic proximity, of course also the currency and a whole series of factors. What we identified several months ago in East Africa is that there are equally exceptional market depths, adds Yves Battesti. When we look at the consolidated growth rates of all East African countries, it is higher than the consolidated growth rate of all of sub-Saharan Africa. This growth creates market opportunities for Kenyan and French companies.. »
Fund local industries
Opportunities in the technology, energy and transportation sectors in particular. James Mwangi, CEO of Kenyan bank Equity Bank, also sees it as an asset for local industries. “ For 60 years, Africa has mainly exported raw materials. Why shouldn’t we use French technology, knowledge and capital to add value to African products? Whether tea, coffee or cocoa. »
A memorandum of understanding has just been signed between Bpifrance and Equity Bank to co-finance partnerships between companies from the two countries.
How can entrepreneurs effectively navigate cultural differences in cross-continental partnerships?
Time.news Editor: Welcome to our interview today! We’re excited to have you here, especially after such a significant event—the Inspire & Connect event in Nairobi. You were actively involved in this gathering of investors and economic leaders. Can you share your thoughts on the event and its impact on French-African partnerships?
Expert: Thank you for having me! The Inspire & Connect event was indeed a remarkable platform for fostering collaboration between African and French entrepreneurs. It brought together several hundred key players in investment and economics, generating valuable discussions. The essence of the event was to not just network but to lay the groundwork for sustainable partnerships that can drive growth in both regions.
Time.news Editor: It seems like there was a strong focus on collaboration. Could you elaborate on the presence of French companies in Kenya, especially with the participation of specific firms like Matières?
Expert: Absolutely! Eight French companies participated, illustrating a growing interest in the East African market. Matières, for instance, is a fascinating case. Specializing in modular metal bridges, they aim to take their innovative solutions to Kenya, not just through individual projects but by collaborating with the Kenyan authorities on a series of bridge constructions. This approach shows a commitment to long-term investment and infrastructure development that can have a significant impact on the region.
Time.news Editor: That sounds promising! With French President Macron’s encouragement for companies to settle in Kenya, the statistics have indeed skyrocketed—from 35 companies in 2012 to 140 now. What do you think is driving this increased interest?
Expert: Several factors contribute to this surge. First and foremost, there is a conducive business environment emerging in Kenya, supported by governmental initiatives aimed at attracting foreign investment. The country has become a hub for innovation and technology in Africa, which is appealing to diverse sectors—energy, agriculture, retail, and beyond. Furthermore, Kenya serves as a strategic gateway to neighboring countries like Tanzania and Uganda, making it an attractive base for French companies looking to expand in the region.
Time.news Editor: Clearly, there’s a collaborative spirit. As we think about the future, how can this partnership further evolve? What steps are necessary to ensure sustainable growth for both French and African businesses?
Expert: That’s a critical question. Moving forward, fostering deeper connections beyond mere transactions will be vital. This can involve establishing business incubators, knowledge exchange programs, and mentorship initiatives. Also, local capacity-building should be prioritized, ensuring that African entrepreneurs are empowered and integrated into these partnerships. This approach not only benefits the companies involved but also promotes economic resilience within the communities.
Time.news Editor: Looking ahead, what advice would you give to entrepreneurs keen on exploring opportunities in cross-continental partnerships like those showcased at Inspire & Connect?
Expert: I would encourage entrepreneurs to be proactive in building relationships based on mutual benefit and understanding. They should take the time to explore local markets, engage with stakeholders, and be adaptable to cultural nuances. Networking at events like Inspire & Connect is a fantastic starting point, but continuous engagement and investment in relationship-building will be essential for long-term success.
Time.news Editor: Thank you for sharing your insights! It’s clear that events like Inspire & Connect are paving the way for meaningful collaborations. We look forward to seeing how these partnerships unfold in the coming years.
Expert: Thank you for having me! I share your enthusiasm for the future of French-African partnerships and the positive impact they can have on both economies.