Honestly, they have the kingdom of Holland as their ally/puppet state and the Cape colony is still very much restricted to the Southern edges, so France grabbing the the area of otl Namibia all the way towards otl eastern and northeastern south Africa (which would come with the areas of Zimbabwe, Botswana and southern Mozambique), which has abundant natural resources (ESPECIALLY gold and diamonds) and are very fertile land as well as securing a pathway to India.I don't know, maybe north africa, the piracy in the mediteranean won't be tolerated for much longer and with french better demographic it might be enought to frenchify the region.
I really don't know where France would get a settler colonies at this point.
As for North Africa, I'd say let the Spanish deal with that one, think it's another crusade and let them get stuck in the quagmire of nasty guerrilla warfare and "pacification of the local population"