The French Development Agency's (FDA) initiative would indirectly or directly finance nearly 2000 companies, Sarkozy told a joint sitting. "When this initiative is concluded, the total French bilateral financial commitment to sub-Saharan Africa will thus amount to 10 billion euros over the coming five-year period."
The investment would include helping African small and medium enterprises get bank credit and capital, as well as greater FDA agency support of the private sector.
In the first visit of a French head of state to South Africa since Prime Minister Lionel Jospin in July 2001, Sarkozy called for renewed African-French relations that were based on transparency and contemporary realities.
Referring to the colonial history between the two continents, Sarkozy called for an end to inequality, exploitation and resentment. The security and prosperity of France and Europe were "indissolubly linked" with that of Africa."Whether one agrees or disagrees with it, globalisation is now here to stay. It would be completely unrealistic and dangerous to attempt to manage the affairs of the world without Africa," he said.
Delivering his speech in French, he addressed President Thabo Mbeki several times as "cher Thabo" (dear Thabo) while making a point. Peace and security, the struggle against poverty, economic growth and the continent's inclusion in globalisation were interests shared by both countries.
"The growth potential of your continent, its natural resources and its promising market make it part of the world we cannot ignore."
While the two countries had "deep and long-standing relations", these had been neglected. "The number of French citizens living in Africa, as well as the volume of French exports to Africa and French investments in Africa, have declined. "This has resulted in our traditional partners in Africa sometimes feeling that France has abandoned and lost interest in them."
Future relations of the two countries could not be discussed without taking migration into account. He however ruled out a "zero immigration" policy as unrealistic and dangerous.
Sixty-five percent of the 200,000 foreign nationals who took up residence in France every year came from Africa, he said. South Africa received nearly one quarter of all migrant populations in Africa.
"It is the responsibility of every government to decide how many migrants it is prepared to receive on its territory and under what conditions... The principle applies to Europeans and Africans alike."
Sarkozy said a European-African partnership on migration had to stop the brain drain, deal with organised crime and help migrant populations support the development of their countries of origin.
Noting that Africa carried 24 percent of the world's disease burden but only had three percent of its health workers, he called for "return migration".
France, he said, had more Beninese doctors than Benin itself. He called for efforts to stop "African elites" emigrating for good.
The best guarantors of peace and security in Africa were democracy and justice. "This is true in Cote d'Ivoire, where I hope free, fair and recognised elections will be held. The same is true in Zimbabwe. It also applies to Chad," he said.
He began his speech with a summary of the violence that had marked the 20th century and acknowledged South Africa for teaching the world a "magnificent lesson" in humanity.
Before his speech Sarkozy was introduced by chief whip of the National Council of Provinces Nosipho Ntwanambi.
While she was doing this, Sarkozy, sitting next to Mbeki, repeatedly looked up into the gallery and smiled at his wife, model-turned singer Carla Bruni.
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