Manufacturing is the bedrock of a growing economy. Foreign direct investment can play a key role in nurturing this sector to accelerate sustainability and inclusion in emerging economies.
The UK’s Foreign Commonwealth and Development Office (FCDO) is working with McKinsey to implement a flagship economic development program, Manufacturing Africa. The aim of the program – which is funded with UK aid from the UK government and includes partners from BDO, Steward Redqueen, Reformatics, and TechnoServe – is to attract £1.2 billion in foreign direct investment and create 90,000 jobs across the continent by 2026. So far it has secured over £690 million of investment, and created 16,000 jobs.