UK Manufacturing Africa Programme Secures $630M for Nigeria

The UK Government-backed Manufacturing Africa programme has successfully supported 23 Nigerian businesses in reaching financial closure, mobilizing over $630 million in investment and creating the potential for more than 21,400 direct jobs. This announcement was made during a reception in Lagos attended by British High Commissioner to Nigeria, Pete Vowles, and British Deputy High Commissioner in Lagos, Jonny Baxter, along with business leaders, investors, government representatives, and development partners.

Since its inception in 2019, the programme has focused on helping businesses secure capital for operational expansion, production scaling, and employment capacity building. The 23 transactions are expected to create or safeguard over 21,400 direct jobs, highlighting the importance of investment readiness and access to finance.

Additionally, the programme launched a 'Fundraising Toolkit', a free digital resource aimed at assisting Nigerian and African businesses in preparing for investment, engaging potential investors, and securing growth capital, drawing on over six years of investment facilitation experience across multiple African nations.