UK-backed programme mobilises $630m for 23 Nigerian businesses, creates 21,400 jobs

A UK government-backed programme has mobilised more than $630 million in investment and created over 21,400 direct jobs in Nigeria through 23 successful investment deals over the past six years. The figures were announced at an event in Lagos attended by British High Commissioner Pete Vowles, British Deputy High Commissioner Jonny Baxter and representatives from the business, investment and development sectors. The programme, Manufacturing Africa, is funded by the UK government and has operated across six African markets, including Nigeria, Ethiopia, Kenya, Rwanda, Tanzania and Senegal since 2020. In Nigeria specifically, it has worked with high-potential businesses to strengthen their investor readiness, connect them with capital, and support them through the fundraising and deal completion. The Lagos event also marked the launch of the Manufacturing Africa Fundraising Toolkit, a free digital resource designed to help Nigerian and African businesses attract investment, navigate the fundraising process and scale their operations. “I am delighted to celebrate six years of the UK’s Manufacturing Africa programme and recognise the 23 Nigerian businesses it has supported,” said Jonny Baxter, British Deputy High Commissioner in Lagos. “Together, these transactions have mobilised more than $630 million in investment and have the potential to create or safeguard over 21,400 direct jobs, demonstrating the programme’s contribution to economic growth.” What the Manufacturing Africa Fundraising Toolkit offers Nigerians The Fundraising Toolkit draws on more than six years of UK-funded investment facilitation experience across Africa, capturing lessons from more than 300 investment opportunities and over 70 financial closes. It also incorporates insights from more than 23 international investors, including development finance institutions, private equity firms and impact investors. The toolkit draws on lessons from real transactions and includes frameworks, templates and recommendations for businesses raising capital. It also reflects how investment deals are actually structured, negotiated and closed in African markets. It brings together practical guidance, investor insights, templates and tools, which are all available free of charge to any business seeking to attract capital. Thomas Pascoe, Team Leader at Manufacturing Africa, described the toolkit as a first-of-its-kind resource on the continent. “It brings together more than six years of practical fundraising experience, including the tools, insights and lessons that have helped businesses across the continent navigate the fundraising process and secure investment,” he said. “Our ambition is to make this practical resource accessible to more businesses, helping them strengthen their investment readiness, engage investors with greater confidence and unlock the capital they need to grow.” British High Commissioner Pete Vowles said the programme had shown what becomes possible when businesses have access to the right support to reach commercial finance.