Manufacturing Africa, Tlg Capital Partner To Boost Nigerian Manufacturing

UKs ManufacturingAfrica and TLG Capital are collaborating to strengthen Nigerian businesses eligibility for financing through Africa Growth Impact Fund II AGIF II, which has raised 75 million towards its 200 million target.

Supported by the World Banks International Finance Corporation IFC, Swedfund, Norfund, and Bpifrance, the fund seeks to channel capital into promising manufacturing businesses across Nigeria.

Manufacturing Africa will assist companies with due diligence, corporate finance, environmental, social, and governance ESG compliance, gender inclusion, and operational improvements, ensuring they meet investment criteria.

One of the first beneficiaries of this initiative is Terra Aqua, an aluminum recycling company in Ogun State, set to receive 7.5 million in debt financing from TLG Capital, contingent on meeting ESG benchmarks.

If successful, the deal could create 200 direct jobs and 752 indirect jobs, while utilizing a recycling process that consumes 95 less energy than producing primary aluminum.