By Ebunoluwa Sessou
A UK Government-backed programme, Manufacturing Africa, has supported 23 investment deals in Nigeria, mobilising more than $630 million and creating or safeguarding over 21,400 direct jobs over the past six years.

The figures were disclosed in Lagos on Monday at an event attended by the British High Commissioner to Nigeria, Pete Vowles; British Deputy High Commissioner in Lagos, Jonny Baxter; business leaders, investors, government representatives and development partners.

The event was organised to mark the impact of the UK Government’s Manufacturing Africa programme in Nigeria and also witnessed the launch of a new Fundraising Toolkit designed to help businesses attract investment and scale their operations.

Speaking at the event, Baxter said the 23 transactions supported by the programme had demonstrated the contribution of investment facilitation to business expansion and job creation.

He said, “I am delighted to celebrate six years of the UK’s Manufacturing Africa programme and recognise the 23 Nigerian businesses it has supported.

“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.”

According to him, the newly launched Fundraising Toolkit represents one of the major legacies of the programme, as it provides businesses with practical tools, insights and connections to help them attract investment and raise capital.

Baxter said the initiative would continue to support Nigerian businesses beyond the lifespan of the programme.

He added, “By supporting businesses to unlock investment, expand operations and create jobs, this partnership is strengthening the UK-Nigeria relationship and creating opportunities for long-term growth in both our countries.”

Also speaking, the British High Commissioner, Vowles, said the programme had provided an opportunity for companies to better understand how to access commercial finance and use it to grow their businesses.
“It’s great to see companies coming together, figuring out how to access commercial finance, so they can then grow their businesses,” Vowles said.

He said he was interested in how businesses supported by the programme would deploy the new toolkit to sustain their growth and encourage other companies to benefit from similar opportunities.

The Fundraising Toolkit, according to the organisers, is a free digital resource containing practical guidance, investor insights, templates and tools to help businesses become investor-ready and navigate the fundraising process.

The resource draws on more than six years of UK-funded Manufacturing Africa investment facilitation experience across Ethiopia, Kenya, Nigeria, Rwanda, Tanzania and Senegal.
It incorporates lessons from more than 300 investment opportunities and over 70 financial closes, as well as insights from more than 23 international investors, including development finance institutions, private equity firms and impact investors.

Team Leader, Manufacturing Africa, Thomas Pascoe, said the toolkit was developed from practical experience of helping businesses navigate fundraising and secure investment across African markets.

He said, “The launch of the Fundraising Toolkit marks an important milestone for Manufacturing Africa. 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.

“We are also celebrating 23 Nigerian businesses that have successfully reached financial close with support from Manufacturing Africa, raising close to US$630 million in total.

“Their achievements demonstrate what is possible when businesses have access to the right tools, guidance and connections to capital.”

Pascoe said many of the approaches used in the successful fundraising journeys had been incorporated into the toolkit, which he described as a first-of-its-kind resource in Africa.

He said the ambition was to make the resource available to more businesses and help them strengthen their investment readiness, engage investors with greater confidence and access the capital required for expansion.

The event brought together stakeholders from Nigeria’s investment ecosystem to examine ways of improving investor readiness, unlocking capital and supporting businesses to expand and create jobs.

The organisers said the experience of Manufacturing Africa demonstrated the potential of targeted business support and investment facilitation to strengthen Nigeria’s investment ecosystem and contribute to sustainable economic growth.