BAT BLOWS HOT — Borrowing costs in Africa are 10x higher – Tinubu blames Africa’s weak manufacturing sector

According to a report by Arise News on Wednesday May 13, 2026, President Bola Ahmed Tinubu has blamed illicit financial flows, restrictive global financial policies, and high borrowing costs for the weak state of Africa’s manufacturing sector. Speaking on the challenges facing industrial growth, Bola Ahmed Tinubu said Africa’s manufacturing sector is being constrained by structural financial imbalances.

“How can an African manufacturer compete with competitors in Europe, Asia, or North America when borrowing costs in Africa are five to ten times higher?” Tinubu asked..CONTINUE READING, FULL  ARTICLE >>>