BY RASHEED BELLO
As Nigeria navigates rising energy costs and the growing urgency of the climate crisis, the British Deputy High Commissioner, Mr. Jonny Baxter, reaffirmed the UK’s commitment to supporting inclusive economic growth and sustainable development across the country.
He made this statement 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, hosted by Alitheia Capital, a pioneer in gender-lens impact investing private equity firm, in collaboration with Manufacturing Africa, a UK government programme focused on attracting Foreign Direct Investment into the manufacturing sector, at his residence in Lagos.
Themed “Scaling Sustainable Manufacturing & Energy Transition for Women-led SMEs in Africa,” this year’s edition brought together a dynamic mix of industry leaders, women entrepreneurs, investors, policymakers, and energy solution providers to explore the pivotal role of women-led businesses in Africa’s sustainable industrial transformation.
The discussions addressed the acute pressures SMEs face amid surging fuel prices and electricity tariffs – conditions that have made sustainable energy adoption both an environmental and economic imperative. Insights from Alitheia’s own portfolio reveals that adopting renewable energy can cut operational costs by as much as 60%, underscoring the financial viability of clean energy for scaling women-led businesses.
Participants examined practical pathways for women entrepreneurs to access clean energy solutions, scale sustainable manufacturing practices, and contribute meaningfully to Africa’s green economy.
In his remarks, the British Deputy High Commissioner in Lagos, Mr. Jonny Baxter stated: “We are proud to collaborate with Alitheia Capital on W.O.M.A.N. (Women in Manufacturing, Agribusiness, and Nutrition) to drive Africa’s 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. 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.”
Also speaking, Co-Founder and Managing Partner at Alitheia Capital, Tokunboh Ishmael said: “We are no longer just talking about sustainability as a nice-to-have. It’s an economic imperative, especially for women entrepreneurs at the heart of Nigeria’s industrial transformation and through W.O.M.A.N by Alitheia, we’re not only spotlighting solutions—we’re scaling them. 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.”
The event also 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), Bukola Badmos (Executive Director & CFO, Starsight Energy), and Sarah Ogbewey, (Head, Strategic Partnerships, Renewable Energy & Mobility, Sterling Bank).
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 day closed with an ESG knowledge session, exhibitions from green energy and manufacturing solution providers, and a resounding call to action: expand access to capital, strengthen ecosystems, and enable policy that supports inclusive green industrialization.
For additional information and interview requests, please contact:
The UK Manufacturing Africa Programme – info@manufacturingafrica.org
Alitheia Capital – a.agboke@thealitheia.com
About Alitheia Capital
Established in 2007, Alitheia Capital (“Alitheia”) is a leading impact investment and gender-smart private equity firm headquartered in Lagos State, Nigeria, investing in high-growth small and medium enterprises (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. Learn more at https://thealitheia.com
About Manufacturing Africa
Manufacturing Africa (MA) aims to reduce poverty in Africa by attracting £1.2 billion of Foreign Direct Investment (FDI) into manufacturing and creating 90,000 jobs over 7 years (2019-2026). The programme is funded by the UK government through the Foreign, Commonwealth & Development Office (FCDO). MA is operational across 6 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. Learn more at https://manufacturingafrica.org.
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