They Chose France in 2023

Sub-Saharan African investments in France

The FDI stock* of businesses from Sub-Saharan Africa in France is
around €4 billion. Fifteen new investment decisions were recorded in
France from Sub-Saharan African countries in 2023, creating 173 jobs
nationwide. Responsible for one-third of projects and jobs created,
Senegal led the way by countries from Sub-Saharan Africa, followed
by South Africa, Cameroon, Madagascar and Nigeria.

Investments primarily concerned activities related to decision-making
centers (60% of projects; 68% of jobs), with investors from Sub-Saharan
Africa choosing France as the location of their regional hub and to
develop their activities, not only in France but also in Europe. Other
activities involved investments in R&D and engineering (27% of projects;
17% of jobs) and manufacturing activities (13% of projects; 16% of jobs).

The IT services sector was the leading investment sector, accounting
for half of all projects and jobs recorded in 2023, ahead of agri-food
and perfumes/cosmetics (each with 13% of projects).

Ile de France (Paris region) (20%) welcomed the most projects, ahead
of Normandie, Provence-Alpes-Côte d’Azur, Grand Est, Hauts de France
and Centre-Val de Loire, which each welcomed 13% of projects.

• Source: Banque de France, 2023; FDI stock in France (immediate investor) as of
  December 31, 2022, excluding confidential data

Invest success stories: QIMA and Reslocate

QIMA: As part of its development, the QIMA group recently acquired
Qwalilab, a Cofrac-accredited laboratory located on the island of
Réunion, via QuantiLAB, a Mauritian laboratory integrated into the QIMA
group, specializing in inspection and analysis solutions in the agri-food,
environmental and pharmaceutical sectors. This strategically important
acquisition comes with the creation of 12 additional jobs over three years.

Reslocate: This South African startup offers an interactive and user-friendly digital platform that connects students with property owners. Following a visit to the Provence-Alpes-Côte d’Azur region in September
2022, the co-founders chose to set up their subsidiary within the Sophia Antipolis technology park to provide their solution to students in France, Europe and, at a later stage, expand the product offering into other
parts of Africa. Reslocate will create 19 jobs over a three-year period.

Take a look at the video of the Reslocate success story: https://www.linkedin.com/feed/update/urn:li:activity:7295003701679710208