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23 Nigerian businesses have reached financial close through the UK Government-backed Manufacturing Africa programme, mobilising more than $630 million in investment.
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The transactions have the potential to create or safeguard over 21,400 direct jobs, highlighting the role of investment facilitation in expanding businesses and employment.
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Manufacturing Africa has launched a free Fundraising Toolkit to help Nigerian businesses become investor-ready, raise growth capital and navigate the fundraising process.
September 24, (THEWILL) – The UK Government-backed Manufacturing Africa programme has supported 23 Nigerian businesses to reach financial close, mobilising more than US$630 million in investment and creating the potential for over 21,400 direct jobs.
The programme disclosed this in Lagos at a reception attended by British High Commissioner to Nigeria, Pete Vowles; British Deputy High Commissioner in Lagos, Jonny Baxter; business leaders, investors, government representatives and development partners.
The investment deals, supported through the programme since 2019, span businesses seeking capital to expand operations, scale production and strengthen their capacity to create employment.
According to Manufacturing Africa, the 23 transactions have the potential to create or safeguard more than 21,400 direct jobs, reinforcing the link between investment readiness, access to finance and business expansion.
The programme has also launched the ‘Fundraising Toolkit’, a free digital resource designed to help Nigerian and African businesses prepare for investment, engage potential investors and secure growth capital.
The toolkit provides practical guidance, investor insights, templates and tools covering different stages of the fundraising process.
It draws on more than six years of investment facilitation experience across Nigeria, Ethiopia, Kenya, Rwanda, Tanzania and Senegal, including lessons from more than 300 investment opportunities and over 70 financial closes.
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Speaking at the event, Baxter said the 23 Nigerian businesses had collectively mobilised more than $630 million in investment, describing the transactions as evidence of the programme’s contribution to economic growth.
He said the toolkit would preserve practical lessons from the programme and equip businesses with tools and connections needed to attract investment, raise capital and scale beyond the programme’s lifespan.
Vowles said the programme had provided an opportunity for companies to understand how to access commercial finance and use it to grow their businesses.
Thomas Pascoe, Team Leader, Manufacturing Africa, said the toolkit brings together more than six years of practical fundraising experience and lessons from businesses that successfully secured investment.
He said the resource was intended to help more businesses strengthen their investment readiness, engage investors with greater confidence and unlock capital for expansion.
Manufacturing Africa was established in 2019 and is funded by the UK Government through the Foreign, Commonwealth & Development Office.
Across its six African markets, the programme has supported more than 300 companies and helped mobilise over £2 billion in foreign direct investment, above its £1.2 billion target, according to the organisation.
In Nigeria, it has supported 72 investment opportunities since 2019, with 23 reaching financial close.
The Fundraising Toolkit is available free of charge online.
Janefrances Ebere Chibuzor is a Tourism Writer at THEWILL
