*Jonny Baxter, British Deputy High Commissioner, in Lagos, reaffirms the UK commitment to sustainable development, and empowering women to drive inclusive, transformative economic growth across Africa

Isola Moses | 绿帽献妻

As Nigeria navigates rising energy costs and the growing urgency of the climate crisis, Mr. Jonny Baxter, British Deputy High Commissioner, has reaffirmed the United Kingdom’s (UK) commitment to supporting inclusive economic growth and sustainable development across the country.

Baxter said this Wednesday, June 18, 2025, at the second edition of W.O.M.A.N by Alitheia, a high-level forum for Women in Manufacturing, Agribusiness, and Nutrition and key stakeholders, at his residence in Lagos.

绿帽献妻 reports Alitheia Capital, a pioneer in gender-lens impact investing private equity firm, organised the forum in collaboration with Manufacturing Africa, a UK government programme focused on attracting Foreign Direct Investment (FDI) into the manufacturing sector.

With the theme, 鈥淪caling Sustainable Manufacturing & Energy Transition for Women-led SMEs in Africa鈥�, this year鈥檚 edition of the programme brought together a dynamic mix of industry leaders, women entrepreneurs, investors, policymakers, and energy solution providers.

They participated in the forum to explore the pivotal role of women-led businesses in Africa鈥檚 sustainable industrial transformation.

The discussions also addressed the acute pressures Small and Medium Enterprises (SMEs) face amid surging fuel prices and electricity tariffs in Nigeria.

It is noted the conditions that have made sustainable energy adoption both an environmental and economic imperative in the West African country.

Insights from Alitheia鈥檚 own portfolio also revealed that adopting renewable energy could cut operational costs by as much as 60 percent, underscoring the financial viability of clean energy for scaling women-led businesses.

The British High Commission said the participants further examined practical pathways for women entrepreneurs to access clean energy solutions, scale sustainable manufacturing practices, and contribute meaningfully to Nigeria, Africa鈥檚 green economy.

In a statement by the British High Commission Communications Office, Abuja, FCT, Onyinye Madu noted Baxter, British Deputy High Commissioner, in Lagos, said in his remarks: 鈥淲e are proud to collaborate with Alitheia Capital on W.O.M.A.N. (Women in Manufacturing, Agribusiness, and Nutrition) to drive Africa鈥檚 green industrial future.

“We recognise the indispensable role of women in this transition and are committed to expanding access to capital and capability to ensure sustainable growth.”

The British envoy also stated: “This event reflects our shared vision for inclusive and transformative development, and we are committed to supporting this journey through targeted investments and strategic private partnerships.鈥�

Also speaking at the forum, Tokunboh Ishmael, Co-Founder and Managing Partner at Alitheia Capital, said: 鈥淲e are no longer just talking about sustainability as a nice-to-have.

“It鈥檚 an economic imperative, especially for women entrepreneurs at the heart of Nigeria鈥檚 industrial transformation and through W.O.M.A.N by Alitheia, we鈥檙e not only spotlighting solutions鈥攚e鈥檙e scaling them.”

Ishmael stated: “In our own portfolio, we’ve seen up to a 60% reduction in energy costs among businesses that have adopted clean energy.

“This is proof that green transition is not only possible but profitable.鈥�

The event in Lagos as well featured keynote addresses and panel discussions with industry leaders, including Yemisi Iranloye (CEO, Psaltry), Affiong Williams (CEO, ReelFruit), Temilola Adepetun (Managing Director, SKLD), James Fabola (CFO, Arnergy Solar).

Others are Bukola Badmos (Executive Director & CFO, Starsight Energy), and Sarah Ogbewey, (Head, Strategic Partnerships, Renewable Energy & Mobility, Sterling Bank).

The BHC disclosed Alitheia Capital also launched Nzinga, its SME capacity-building platform designed to equip entrepreneurs with tools for scaling their businesses sustainably.

In parallel, Manufacturing Africa unveiled its Green Business Building (GBB) accelerator, which will drive the growth of green businesses through strategic support on core business problems, leading to the development of an ecosystem for green manufacturing and green jobs in Nigeria, the statement noted.

The forum ended with an ESG knowledge session, exhibitions from green energy and manufacturing solution providers, and a resounding call to action.

That is the need to expand access to capital, strengthen ecosystems, and enable policy that supports inclusive green industrialisation on the African continent.

About Alitheia Capital

Established in 2007, Alitheia Capital (鈥淎litheia鈥�) is a leading impact investment and gender-smart private equity firm, headquartered in Lagos State, investing in high-growth SMEs across Africa.

Since its inaugural fund launch in 2009, it has grown to manage over $250 million in assets spread across various funds including co-managing the largest gender-lens fund in Sub Saharan Africa.

Alitheia Capital specializes in identifying and investing in high-potential businesses throughout Africa.

Its investment philosophy revolves around the concept of “true profit with a purpose,” whereby deploying private capital into SMEs that not only generate financial returns but also address critical business, social, or environmental needs within their communities.

On Manufacturing Africa Programme

Manufacturing Africa (MA) aims to reduce poverty in Africa by attracting 拢1.2 billion of Foreign Direct Investment (FDI) into manufacturing and creating 90,000 jobs over a period of seven years (2019-2026).

The programme is funded by the UK government through the Foreign, Commonwealth & Development Office (FCDO).

MA is operational across six countries in East Africa (Kenya, Rwanda, Ethiopia and Tanzania) and West Africa (Nigeria and Senegal).

In Nigeria, MA typically supports projects seeking to raise $10m+ in funding, which can be over a few stages, with no upper limit.

To date, MA has supported 42 deals, 13 of which have closed and raised over $180m of foreign direct investments.

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