Latest stories tagged “manufacturing”
The Manufacturers Association of Nigeria (MAN) has criticized the average prime lending rates of 27 percent and maximum lending rates of 36.5 percent charged by major commercial banks as of May 2026, labeling them as exploitatively high for the manufacturing sector.
According to Daily News, global investors are increasingly choosing Tanzania as a strategic investment destination due to its political stability, access to regional markets, abundant resources, reliable infrastructure, and a supportive government. These factors are seen as more significant than just tax incentives, making Tanzania an attractive option for international manufacturing companies.
The Manufacturers Association of Nigeria (MAN) has confirmed data from Vanguard Newspaper indicating a 22.5 percent decline in bank credit to manufacturers, amounting to N1.9 trillion. MAN expressed concerns that this decline could negatively impact industrial growth, increase unemployment, and hinder policy implementation, attributing the issue to high interest rates and policy gaps.
Commercial bank credit to Nigeria's manufacturing sector has decreased by N1.92 trillion, attributed to funding gaps and high lending rates that are hindering access to finance for manufacturers, according to Punch.
Nigeria's manufacturing sector reported a record remittance of N329.59 billion in Value Added Tax (VAT) for the first quarter of 2026, marking the highest quarterly contribution in four years, according to Punch.
The first batch of Indian-made Renault Dusters is on its way to South Africa. These vehicles are manufactured at Renault's plant in Chennai and will replace the current models that are sourced from the Mioveni factory in Romania.
Several leading Algerian companies are looking for partnerships in Tanzania's manufacturing and agricultural sectors, driven by Tanzania's growing reputation as a promising investment destination in Africa. This interest was highlighted during the ongoing 57th Algiers International Fair (FIA), where Tanzanian representatives are promoting opportunities for trade and investment.
According to the Manufacturers Association of Nigeria (MAN), commercial bank credit to Nigeria's manufacturing sector fell by 22.5% in 2025. This decline has raised concerns regarding the potential impact on industrial growth and job creation in the country.
Safaricom's smartphone factory in Kenya assembled approximately 700,000 devices in its first year of operation, contributing to increased access to technology in the region. The factory also created around 300 jobs, highlighting the impact of local manufacturing on employment. This development is part of a broader narrative focusing on connectivity rather than just device specifications, according to Vodacom Group's FY2026 integrated report.
Uganda's manufacturers are facing challenges such as high production costs, limited access to long-term capital, reliance on imported inputs, and fragmented supply chains. To address these issues, they are advocating for enhanced collaboration across supply chains, innovative financing solutions, and increased investment in value addition, according to The Independent.
Uganda is spearheading the CONNECT-VAS project, which aims to enhance vaccine research and manufacturing across four African countries. The initiative seeks to build stronger vaccine systems and reduce reliance on imports. This was discussed during an inception meeting held in Kampala on June 11, attended by scientists, policymakers, regulators, and development partners.
The Federal Government of Nigeria has reported securing over $380 million in investment commitments within the first 90 days of implementing the Nigeria Industrial Policy (NIP) 2025. This progress aims to enhance local manufacturing, exports, skills development, and industrial infrastructure, according to a report from the Office of the Federal Government.
In the first quarter of 2026, Nigeria's manufacturing sector contributed significantly to government revenue, generating a total of N404.07 billion from Value Added Tax (VAT) and Company Income Tax (CIT). This included N329.59 billion from VAT and N74.48 billion from CIT, according to data from the National Bureau of Statistics (NBS).
Injection mold tooling costs vary significantly, ranging from approximately 3,000 dollars for simple tools to over 100,000 dollars for more complex production molds. This information is particularly aimed at first-time founders looking to understand the financial aspects of injection molding.
A1 Iron & Steel Tanzania Ltd is set to invest TZS 600 billion in a new steel manufacturing plant in Nala, Dodoma, which will utilize local iron ore as its primary raw material. This initiative aims to enhance mineral value addition in Tanzania and decrease reliance on imported steel products. Construction is slated to commence in July 2026 and is projected to be completed within 15 months.
The Manufacturers Association of Nigeria (MAN) has criticized the average prime lending rates of 27 percent and maximum lending rates of 36.5 percent charged by major commercial banks as of May 2026, labeling them as exploitatively high for the manufacturing sector.
The Manufacturers Association of Nigeria (MAN) has confirmed data from Vanguard Newspaper indicating a 22.5 percent decline in bank credit to manufacturers, amounting to N1.9 trillion. MAN expressed concerns that this decline could negatively impact industrial growth, increase unemployment, and hinder policy implementation, attributing the issue to high interest rates and policy gaps.
Injection mold tooling costs vary significantly, ranging from approximately 3,000 dollars for simple tools to over 100,000 dollars for more complex production molds. This information is particularly aimed at first-time founders looking to understand the financial aspects of injection molding.