France’s economic diplomacy in Africa, historically a cornerstone of Paris’s international influence, confronts profound crisis as market share erodes and competitors gain ground. Fifteen years ago, France still considered itself a major banking and commercial power across the continent, with key sectors from finance to infrastructure making Paris an indispensable partner for Francophone and Anglophone African economies.
However, French market shares have stagnated then declined while other global actors—notably Chinese, Turkish, and Indian—invested massively in the region. This dynamic profoundly modified France’s African position, triggering strategic questioning whether Paris can maintain its historical economic role.
Recent data shows commercial exchanges between France and sub-Saharan Africa represented 24.5 billion euros in 2023—representing 1.8% of French exports. While showing slight value progression, the figure marks significant proportional decline in total trade, signaling Paris’s relative attractiveness loss on the continent.
According to credit insurance company COFACE estimates, French market share on the continent fell from over 10% in 2002 to approximately 4.4% in 2022. This decrease reflects not only intensified competition, particularly Chinese, but also relative French enterprise disinterest in certain key sectors. While African markets quadrupled in size since the 2000s, French exports only doubled in value, equating to relative weight loss in intercontinental commerce.
Emblematic banking group retreat—including Crédit Agricole, BNP Paribas, and Société Générale—has substantially reduced presence or exited certain African markets. Official explanations advance that perceived risks are too elevated for returns judged insufficient. In a continent where enterprise financing and banking services constitute central economic development factors, this withdrawal automatically triggers strategic influence loss.
Vincent Toussaint, Economic Service Chief at France’s Morocco Embassy, confirms Western bank withdrawal from Africa represents established fact. Economist Abdelghani Youmni explains the withdrawal motive lies in banking activity profitability, noting Africa’s formal versus informal economic dualism differs vastly from European banks operating under different paradigms.
Since 2020, France’s progressive withdrawal from several African countries—notably in the Sahel—has reshuffled diplomatic and economic dynamics. The AFD Group has reinforced action in other continental regions, though France faces redefined intervention challenges across strategically important areas.
