• The summit takes place on May 18 in Paris
• The idea is to help Africa rebound from the effects of COVID-19 economic disruption
• Fifteen leaders from across Africa have confirmed attendance

In the wake of the economic disruption ocassioned by COVID-19 and general economic downturn on the continent, the French presidency will on Tuesday host 15 African leaders for an economic summit in Paris.

The initiative by French president Emmanuel Macron aims to attract investment in Africa to the public and private sectors, according to a statement from the presidency.

Records indicate that the continent’s GDP recorded its first recession in 25 years in 2020, with a decline of 2.1%.

Growth should return in 2021, but at a lower rate than that of more developed countries, with a risk of “divergence”, Elysee; the French presidency noted.

Already, a number of African leaders are arriving in the French capital ahead of the summit. Among others, presidents of Angola, Burkina Faso, Democratic Republic of Congo, Côte d’Ivoire and Egypt.

The others include leaders of Ethiopia, Ghana, Mali, Mauritania, Mozambique, Nigeria, Rwanda, Senegal, Sudan, Togo and Tunisia.

Aside the African contingent, other European countries like Italy, Spain and Portugal as well as the European Union will be represented.

The French presidency confirmes that The Netherlands, Germany, Japan, Kenya, Tanzania and South Africa will participate by videoconference.

The UN, the IMF, the OECD (Organization for Economic Co-operation and Development), the WTO (World Trade Organisation), the World Bank and several international public banks have also been invited.

China, a key trading partner of majority of African countries, will be represented by a senior official who is not yet specified.

On Monday, May 17, Macron will call a conference in support of the transition in Sudan, with the view to push for restructuring of the country's debt with its main donors.