France votes 3.5 billion Euros for African SMEs, to finance Nigerian states’ health sectors

The French Government is opening the “Choose Africa” conference on President Emmanuel Macron’s 3.5 billion Euros initiative to support start-ups and Small and Medium Enterprises (SMEs) on the continent, which Nigerian entrepreneurs had benefited from.

France’s Minister of Foreign Trade and Attractiveness, Franck Riester, who made the disclosure yesterday during a meeting with the Nigeria Governors’ Forum (NGF) in Abuja, added that his home country was willing to finance and build capacity in some of the states’ health sectors.

Read:  Charlotte’s Lamelo Ball Wins 2020-21 Kia NBA Rookie of the Year Award

He regretted that the bilateral trade between both countries totalling $4.5 billion in 2019 crashed to $2.3 billion in 2020 due to the COVID-19 pandemic.

Noting that Nigeria is first country in Sub-Saharan Africa for France’s direct investments, Riester said there were about 100 French companies developing different sectors of the Nigerian economy.

He added that the firms had employed more than 10,000 people, mostly Nigerians, and contributed to vocational training.

The minister continued: “France is a major financial partner for Nigeria, being the second bilateral creditor after China. Thanks to the involvement of French Development Agency (AFD). It expended more than two billion Euros in the last 10 years on over 35 development projects.

Read:  Japan Credit Rating Agency reaffirms African Development Bank’s AAA rating with a stable outlook.

“France is also one of the major partners of the COVAX initiative. Last February, President Macron stated that the failure to share vaccines would entrench global inequality and proposed sending part of the coronavirus vaccine supplies owned by European countries, the United States of America, China and Russia to developing countries.”

Read:  Congolese President makes Koffi Olomide culture ambassador.

Responding on behalf of the forum, Governor Simon Lalong of Plateau State clarified that the gathering was to strengthen collaboration between the states and the French government, particularly in the area of investment.


Related posts

Top 29 Performing Companies in Africa 2022.


Kevin Hart and United States Ambassador Visit Masibambane College in Orange Farm


Ecobank Group Sponsors Africa Fintech Summits in Washington, D.C. and Cape Town.


First National Basketball Association (NBA) Academy Showcase Africa to be held April 6-9 in Senegal.


Canon to spotlight sustainability activists and forward-thinking organisations at the Global Good Awards 2023


Senegal and Team Europe Support to build a manufacturing plant to produce COVID-19 vaccines and other endemic diseases.


Leave a Comment